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Home My WebLink About2921 3 ; ~ l'~11 ~?R~t Cc i~ I~ Bun'ower and Lrnder ~~~~•enant and akrer citi IuUe~~„. 1. P~yment of Prineipal and Interest; Prepayment and Late Charges. t3c~rru~crr ~h:ill ~r~~m~th ~a~ ~~hcn ~+.ur Ifl~ f~f111Cif1.i~ ~l~ :~nd ~nterc•~t nn the' ~~~ht NvitlPru~r•ti hv ihH NM.~ anil an~• nrNn~~~ m.~nt ~~nrl I,~t.~ rh ~ru.~. rln.• ~~nrlrr thr \ii~.• • ~ - - ~ ~ - - r- -r-~ --~---o- - _ - - 2. Funds for Taxes and Insurance. Subject ta applicablr law ur tu a w~rittrn Hai~cr b~ l.endrr, E3urru~~rr,hall {~a~ i tu Len~lrr on Ihe da~ monthl~~ p:~ymentti are due under ihe Note, until the Note iti paid in full, a tium ("Fund~") eyual tc~ ; une-tw~elflh of: (a) yrarly taxes and assessments w•hich ma~• att~?in priorit~ o~er this Serurit} lntitru?ncnt; !b) >'~arl~ leatiehold a•mr~zt~ c~r round rents on the Pro rt if an (c) ~~earl ~ hazard insuranre rrmium~; ;~nd (di rarl~ ' P' > 8 F~ Y ) ~ P > mortgage insurance premiums, if any. These items are called "c~crow~ itemti." Lrndrr ma} r~timatr the Funds due on the b3~i~ of current data and res~anablc estimates of future es;.row~ iiems. The Funds sh311 be held in an institution the deposits or aecounts of w~hich arr ~mureci or guaranteed b}~ a federal or state agency (includ~ng Lender if Lender is such an institution). Lender shall appl~~ thr Fundti to pa} the esrrow itemti. f Lender may not charge for holding and applying the Funds, anal}•zing the acrount or ~•erity~ing the eticmw~ itemL, unles~ Lender pa}~s Borrow•er interest on the Funds and applicable law• permits Lender to make surh a charge. Borrow~er and Lender may~ agree in w~riting that interest shall be paid on the Funds. Unless an agreement is made or ap~licable la~~~ reyuires interest to be paid, Lender shall not be required to pay Borrower an}~ interest or earnings on the Funds. Lender shall gi~~e to Borrow~er, without charge, an annual accounting of the Fur.ds showing credits and debits to the Fund~ xnd the pur~se fi~r which each debit to the Funds was made. The Funds are pledged as additional securit}• for the ~ums serured b~~ this Security Instrument. If the amount of the Funds held by Lender, together w~ith the future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, either promptly repaid to Borrower or creclited to Borrower on monthly pa}~ments of Funds. If the ~ amount of the Funds held by Lender is not sufficient to pay the escrow items w~hen du~, Borrow~er shall pay to Lender an} ~ ~~mp~nf nrv-?cc~fv r~ m3ke sp Che defi:s°r.~y in ~ne as more ~s~~mezis as requ:re~'~y L: n~~:. U~n payment in full of all sums secured by this Security lnstrument, Lender shall promptly retund to Borrower a?tiy Funds held by Lender. If under paragraph 19 the Property is sold 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 bp Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments recei~ed by [.ender under paragraphs 1 and 2 shal) be applied: first, to late charges due under the Note; second, to prepayment 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 attributabk to the Propert}• whirh may attain priority over this Security Instrument, and leasehold pa}•ments or ground rents, if any. Borrower shall pa}• these obligations in the manner provided in paragraph 2, or if not paid in that mannrr, Borrower shall ~ pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts ~ to be paid under this paragraph. If Borrower makes these payments directly, BorroW~er shall promptl~• furnish to Lender rereipts evidencing the payments. ~ Borrower shall promptly discharge any lien which has priority over ihis Security~ Instrument unless Borrow~er. (a) ~ ~ agrees in writing to the payment of the obligation secured by the lien in a manner acceplable to Lender, (b) contests in gooci 3 faith the lien b or defends a ainst enforcement of the lien in, le al roceedin s v~fiich in the Lender's o inion o rate to ~ ; Y, 8 8 P 8 P Pe ~ prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from 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 ~ 4 the Pr~perty is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrow•er a j ~ notice identi~~~ing the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above w~ithin l0 da}~s ~ ; of the giving of notice. ! i 5. Hazard Insurance. Borrow~er shall krep the improvements now existing or hereafter erected on the Propert}• 1 ~ insured against loss by fire, hazards inciuded within the tern~ "extended coverage" and any other hazards for whicFi Lender j ~ requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The 1 ~ insurance carrier providing the insurance shall~be chosen b}• Bo~rower subject ro Lender's approval which shall not be ~ ~ unreasonabl~• withheld. ' All insurance policies and renewals shall be acceptable to Lender and shall include a standard mongage clause. ~ Lender shall have the right to hold the policies and renewals. If Lender requires, Borrow~er shall promptly give to Lender o all receipts of paid premiums and renewal notices. In the event of loss, Borrower sha11 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 proceeds shall bc applied to restoration or repair ' ~ ~~f the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the ' ~ restoration or repair is not economically feas~ble or Lender's security would be lessened, the insurance proceeds s~~all be ~ ap~lied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrow~er. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may~ use the proceeds to repair or restore ~ the Property or to pay sum~ secured by this Security Instrument, whether or not ihen due. The 30-day ~eriod will begin E ~?.o bi' r Unless Lender and Borrow•er otherwise agree in writing, any application of prcxeeds to principal shall not extend or ~ post~n~ the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the pa~ ments. If ~ under paragraph 19 the Property is acquired by Lender, Bflrrow~er's right to any insurance ~iicieti and proceeds resulting ~ from damage to the Propert}• prior to the acquisition shall pas~ to Lender t~ the extent of the sums serured b}~ this Serurit~~ f instrument immediately prior to the acquisit~on. € b. Preservation and ~'Iaintenance of Property; Leaseholds. Borrow~er shall not destro}~, damage or substantially ' change the Propert}•, allow the Property to deteriorate or commit w~aste. If this Securir~• Instrument is an a leasehold. Borrower shall camply with the pro~~isions of the lease, and if Borrow~er acquires fee title to the Propert}, the leasehold and fee title shall not merge unless Lender agrees ro the merger in writing. 7. Protection of L,ender's Itights in the Property; :~tortgage Insurance. I{' Borrow~er fails to ~riorm the co~~enants and agreements contained in this Security Instrument, ~~r there i~ a legal pnx;erding that ma}~ significantl~ affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnatic~n or to enforce laws c~r regulations), then Lender ma}~ do and pay for whatever is necessary to protect the ~~alue of the Pro~ert}~ and Lender's rights in the Property. Lender's actions ma}• include paying any sums secured by a lien w~hich has priosit~~ o~~er this Securit~ lnstrument, appearing in court, paying reasonable attorneys' fees and entering on the Pro~rt~~ to make repairs. Although Lender ma~~ take artic,n under this ~ara¢ra~h 7. Lender does n~t have t~ d~ tc,. An}~ amounts disbursed b~• Lender under this paragraph 7 shall ~ecome additional debt of Bormw~er secured b~~ this Securit}~ Instrument. Unless Borrower and Lender agree ta other terms of payment, these amounts shall bear interett fr~m the date ~f disbursement at the tiote rate and shall be pa}~able, w~~th interest, up<~n notice fr~m Lender t<~ B~~rre~wer requesting pa}•ment. aocK 675 F~cE 2g,~1 _ - - _ - ~ _ ~T~:. ~ ~ , y~.~~