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Home My WebLink About2914 l'~~I ~~k~~ Cu~ t~:~tii~ Hurro~er and l.enderc~~~enant and:?grrr ati ti~llu~~,: 1. Payment of Principal and Interest; Prepayment a~d l.ate CharRes. I3~~rn~~~rr ~h.ill ~~rum~tl~ ~a~ ~~h~n ~lur Ihe ~nncipal of:~nd interest on the debt eridenceel bv the Note and anv nrenavmem snd laie rharYr. ciur unclrr ~h.~ \,v.• 2. Funds for Taxes and Insurance. Subject to applirable law e~r to a w rittrn ~~anrr by Lrndrr, F3orruHer ~hall E~,?~ tu Lrnder on the da~ monthl}• payments are due under the No[e, until the Note i, paid in full, a tium ("Fund~") ryual t~~ one-t~rlRh of: (a) ~~early taxes and assessments ~~•hich ma~• attain priorit~~ o~~er thi~ Securit~• Imtrurnent; Ib) }rarl~ leasehold pa~ments or ground rents on the Property, if an}•; Qc) ~•early haxard in,uranre premium.; artid (d) }rarl~ mortgage ~nsurance premiums, if any. These items are ralled "escrow~ items." 1_ender ma} r~timate the Funds due on thr hasiti uf current data and reasonable estimates of future escrow~ items. The Funds shall be held in an institution the deposits or accounts of which are ins!ired or guaranteed b} a federal ur st~te agenry (including Lender if Lender is such an institution). Lender shall appl~~ thr Fund~ to pa}~ th: eurow~ item~. Lender may not charge for holding and applying the Funds, anal}~zing the account or ~erif~~ing the escrow• items, unletti Lender pa~~s Borroaer interest on the Funds and applicable law permits Lender to make tiuch a rharge. f3orrower and Lrnder may agree in writing that interest shall be paid on the Funds. L,'nless an agreement is made or applicable law~ rrquires interest !o be paid, Lender shall not be reyuired to pay Barro~er an}• interetit or earnings on !he Funds. Lender shall gi~ e to Borrow~er, without charge, an annua) accounting of the Fur.ds show~ing credits and debits to the Funds and the purpose for w~hich each debit ro the Funds was made. The Funds are pledged as additional serurit}~ for thr tium~,ecured b}~ tfiis Security~ Instrument. lf'the amount of the Funds held by Len~er, t~gether with the future monthly payments of Funds pa}~able prior te~ the due dates af the escrow items, shall exceed the amount required to pay the escrow~ items when due, the excns shall tx, at Sorrower's option, either promFtly repaid to Borrower or credited to Borrower on monthly pa}~ments of Funds. If the amount of the Funds held by Lender is not sufi'icient to pay the escrow items when due, Borrow~er shall pay to Ler~der an}~ amount necessary to make un the deficieney in one nr m~re gayments as ~e~+~~r~ b1~ LPnder. Upon payment in full of all sums secured by this Security Instrument, Lender shall pramptly refund to Borrow~er an~~ Funds held by Lender. If under paragraph 19 the Property is soid or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Applieation of Payments. Unless applicable law provides otherwise, all payments recei~~ed b}• t.ender under paragraphs 1 and 2 shali be applied: first, to late charges due under the Note; second, ro prepa~~rnent charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. - 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions dttributable to the Pro~rty whirh may attain priority over this Security Instrument, and leasehold payments or ground rents, if an~. Borrow•er shall pay these obligations in the manner proa•ided in paragraph 2, or if not paid in that manner, Borrower shall pa}~ them on time directly to the person owed payment. Bormwer shall promptly furnish to Lender all notices of amounts ' to be paid under this paragraph. If IIorrow•er makes these payments directly, Borrow~er shall prompily iurnish to Lender ~I rc~eipts evidencing the payments. ~ Borrow~er shall promptly discharge any lien which has prionty o~•er this Securi~y Instrument unless Bo~roK~er: (a) ~ agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in good faith the iien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to preveni the enforcement of the lien or forfeiture of any part of the Property; or (c) secures fcom the holder of the lien an f agreement satisfactory• to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of ; the Propert}~ is subject to a lien which may attain priority over this Security Instrument, Lender may gi~~e 8orrow~er a notice identifj~ing the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above a~ithin 10 da~~s of the giving of notice. ~ i 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Propert~~ j insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender ~ requires insurance. This insurance shall be maintained in the amaunts and for the periods that Lender requires. The ~ insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be j unreasonably withheld. ~ All insurance policies and renew~als shall be acceptable to Lender and shall include a standard mortgage clause. ; Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shalf pramptl~• gi~~e to Lender ~ all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall gi~~e prompt notice to the insurance ~ carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceecis shal! be applied to restoration or repair ` c~f the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the ' rc~toration or repair is nut economically feasible or Lender's security would be lessened, the insurance proceeds shall be E applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid ro Borrower. If ~ Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has t uffered to setlle a claim, then Lender may callect the insurance proceeds. Lender may use the proceeds ro repair or restore ~ the Prapert}~ or to pa~• sums secured by this Security Instrument, whether or not then due. The 30-day period W~ill begin ~ u hNn th~ ncNirP ic oivrn c~ ~ Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shal! not extend or ` ~~stpone the d~e date of the monthl}- payments referred to in paragraphs I and 2 or change the amount of the payments. If ~ under paragraph 19 the Property is acquired by Lender, Borrower's right 1o an}~ insurance policic~s and proceeds resulting ~ from damage to the Property prior to the acguisition shall pass to Lender to the extent of the sum~ serured this Securit~ ~ Instrument immediatel~~ prior to th~ acyuisition. ` 6. Preservatian and ~lsintenance of Pro rt Leaseholds. Borrower shall not destm}~, damage or sub~tantiall} Pe Y: € change the Property, a11ow the Property to deteriorate or commit w~aste. If this Securit}~ [nstrument is on a leasehold. Bc~rrc~w~er shall comp{}~ with the provisions of the lease, and if Borrow~er acquires fee title ta the Pro~rt}~, the leasehold and fee title shall not merge unless Lender agrees to the merger in w~riting. 7. Protection of Lender's Rights in the Propert}; `lortgage Insurance. If Borrower fail; to perform the cc~~enantti and agreements contained in this Securit~~ Instrument, or there is a legal pr~eeding that ma} ~ignificantl~~ affect Lender'~ right~ in the Propert}• (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws ~~r regulati~~ns), then Lender ma}~ do and pay for whate~~er is necessar~• to protect the ~~alue of the Property and Lender's rightti in the Property. Lender's actions may~ include paying any sums secured b}• a lien which has ~riority o~~er this Securit} Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Pro~rt~~ t~ make repairs. Although Lender may~ take action under this paraRraph 7, Lender does not have to do so. An~~ ame~unts disbursed b}~ Lender under this paragraph 7 shall become additional debt of Borrc~w~er serured b~ this ; Securit~ Instrument. l,nless 8orrow~er and Ler.der agree t~ other terms of pa}ment, these amc~unt~ shall tzear interetit frc~m ' the date ~~f ditibursement at the tiote rate and shall be pa}~able, aith interest, up:~n nc~tice fr~~m Lender tc~ B~~rn~uer requesting payment. acRK 67~ F,~cE2g~~ , _ ~ - - X . gTn~'-~. `i~'4.Y~Yr'e.stg~'~~ Sw..r~'-*.c~1- '-,.~'~K~c~i_: ~~~1x~=.PC..'~§..~~