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Home My WebLink About2926 l~11 ~~R» t~~ t~:~~ t~ Borru~er and Lrnder ~~~~rnant as~d agr~r a~ f~~ll~~~~~. 1. Pa>ment of Yrincipa) and Interest; Prepa~ment and l.ate Charges. B~,rru~~er .ti.~ll ~rumE~tl~ ~~a~ ~~h~v~ .iur th~ ~rinri~al ~~f ~n~i intrrc~t un the debt e.idenced b~ the'~ote and an~ rrrna~ ment and fate ~h.ircr. dur undrr ?hr ~~~ir hunds tor Caxes and Insuranct. Subject to applirahle law or to a~•ntten ~~ai~er h~ Lrn~ler. Burru~~cr ,tia41 r:+~ t~~ l.ender c~n the dac monthl~ p:~~~mentt are due under the Note, until the tiote i~ pa~d in full, s.um ("Fund~") ~yu:il t~~ ~me-Iwelfth ~~f: (a) yearly taxe~ and assc~~ments w~hich ma~~ attain ~rior~t~ o~er thiti Secunt~ ln~trurne?~t: (h) ~carl~ leatieho{d payments ~~r ground tents on !he Property, if an~; (c) >earl~~ ha~ard intiur,inrc rrennum.; anJ Id} ~rarl~ murtgage insurance prem~ums, if an~. These items are called "escro~ item.." !_ender ma~ r.timatr the F=und, due ~,n the ha~is c~f eurreiu data and reasonabte estimatc~ of future c~crow item.. The Funds shall t~ held in an institution the de~sits or ac.ount~ of w hirh arr ~n.ured ~~r guaranteed h} a federal i~r ~tate agency (including Lender if Lender is such an institution). Lender ~hall appl} the Fund~ t~~ pa~ the eticru~c item+. l.ender ma~~ not charge for fiolding and applying the Funds, analyting the account c~r ~erif~ing the eticre~w items, unleti~ [.ender pa~~ti &~rrow~er interc~t on tt~e Funds and applicab{e law pem~its l.ender to make ~uch a rharge. 13urru~~er and Lender may agree in N~riting that interest shall be paid on the Funds. l~'nless an agreement is made or appli~afile {aH reyuireti interc~t to be paid, Lender shall not be required to pay F3orrower an}~ interc~t or earning. on the Funds. Lendcr shall gi~e to Borrow~er, w•ithout charge, an annual accounting of the Fur.d, shoa ing credits and debit~ to the Fundti and thr pur~~~e for W~hich each debit to the Funds w~as made. The Funds are pledged as additic~nal security far the,um~,ctiurc-d h~ this Security In~trument. If the amount of the Funds held by Lender, togethe~ w~ith the future monthh~ payment~ e~f Funds ~,ayable prior tc~ the due dates oi'the escrow items, shall exceed the amount required ta pay the escrow itcmti when due, the exce».haU tk. at Borrower's option. either promptly repaid to Borrow~er or credited to Borrow~er an monthl~~ pa} ments of Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow~ items w•hen due, Borrower shall ra~~ to Lender an~ amount necessary to make ~p the deficiency in one or more payments as requireci hy l.ender U~n payment in full of all sums secured by this Security Instrument, Lender shall promptl~~ relund t~ &~rrower any Funds held by Lender. If under paragraph 19 the Pro~?ert}~ is sold or acquired by Lender, Lender shall appl~~, no later than immediately prior to the sale of the Property or its acquisition by Lender, an~~ Funds held h~ Lender at the time of application as a credit against the sums secured b~~ this Securit~~ [nstrument. 3. App6cation of Payments. Unless applicable law• provides otherw•ise, all payments recei~ed b~~ l.ender under paragraphs 1 and 2 shall be applied: first, to late charges due vnder the Nate; serond, to prepa}ment charges due under th~ tiote; third, to amounts pa}~able under paragraph 2; fouRh, to interest due; and last, ta principal due. 4. Charges; Liens. Borrow•er shall pay all taxes, assessments, charges, fines and im~~sitions attnbutable tu the Pmpeny which may attain priority over this Security Instrument, and leasehold pa}•ments or ground rents. if an~ . B~~rrower shal! pay~ these obligations in the manner provided in paragraph 2, ~~r if not paid in that manner, Borrow~er shall pa}~ them on time directlp to the person ow~ed pay~mer~t. Borrow~er shall promptly furnish to Lender all noticc~ of am~~unt~ to be paid under this paragraph. If Borrower makes these pa~~ments directl~~, Borrow~er shail promptl~~ furnish to Lender receipts e~~idencing the payments. Borrow~er shall promptl~~ discharge any lien w•hich has priorit~~ over this Secunt~' Instrument un(ess Bc~rrc~~er. (a) agrees in w~riting to the payment of the obligation secured by ti~e lien in a manner acceptable to Lender; (b) contests in gcx~ci faith the lien bp, or defends against enforcement of the lien i~, legal proceedings which in the Lender's opinion operate to pre~ent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the halder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Securit}• Instrument, Lender may gi~~e Borrower a I'~ natice identifying the 1ien. Borrower shall satisf}• the lien or take one or more of the actions set forth aboti e w ithin 10 da~ s ~ of the giving of n~tice. 5. Hazard Insurance. Borrower shall keep the impro~~ements now~ existing or hereafter erected on the Propert~ insured against loss by~ fire, hazards included a•ithin the term "extended coverage" and an}~ other hazards for w~hich Lendec requires insurance. This insurance shall be maintained in the amounts and for the peric~s that Lender requirc~. The ~ insurance carrier providing the insurance shall be chosen b}' Bo*row•et subje~! to Lender's approval which shall not be 4 unreasonabl~• withheld. ~ AlE insurance policies and renew•als shall be acceptable to Lender and shall include a standard mortgage ciause. ~ Lender shall have the right to hold the policies and renew~als. If Lender requires, Borrow~ec shail ~romptly~ gi~~e to Lender ~ ali 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 otherw•ise agree in writing, insurance proceeds shalf be applied to restoration or repair ~ c~f the Propert~• damaged, if the restoratian or repair is economicall}~ feasible and Lender's securit}• is not lessened. I` the j restoration or repair is not economicallp feasible or Lender's security would be lessened, the insurance proceeds ~ha{I be ~ applied t~ the sums secured by this Security Instrument, whether or not then due, w~ith am~ excess paid to Borrow~er. If Borrow~er abandons the Property, or does not answer within 30 days a noiice from Lender that the insurance carrier has ~ offered to settle a cfaim, then Lender ma}~ coliect the insurance proceeds. Lender ma~~ use the proceeds to repair or restore the Proper~~~ or ta pay~ sums secured by this Security Instrument, w~hether or not then due. The 30-da} period »ill bt~in t w nen the natice is given. ~ Unless Lender and Borrower otherw•ise agree in w~riting, an}~ application of ptoceeds to principal shal! not e~.tend ~~r € ~st~ne the due date of the monthly~ pa}~ments referred to in paragraphs 1 and 2 or change the amount of the pa~ ment~. (f ~ under paragraph 19 the Property~ is acquired by Lender, BorroK~er's right t~ an~ insurance nolicie~ and proceeds resulting ~ Gom damage to tt~e Property~ prior to the acquisition shall pas~ t~ Lender t~ the extent ot:he ~umti tiecured b}• this Secunt~ Instrument immediatel}~ prior to the acquisition. ~ 6. Preservation and ~Taintenanee of Propert}•; Leaseholds. B~rrower shal! nc~t destro}, damage c~r substantiall~ ; change the Propem~, allow~ the Propen}' to deteriorate or commit w•aste. If this Securit} In~trume~t iti on a leaseh~ld. Borr~w;r shalf compl}• with the provisians of the lease, and if Borrow~Pr acquires fee title tc~ the Pro~ert~. the lea5ehc~ld and fee title shail ~ot merge uniess Lender agrees to the merger in w~riting. 7. Protection of Lender's Rights in the Propert}~; 1'iortgage Insurance. If Borrower fails t~ ~erform the ~<~~~enantti and agreements contained in this Securit~• Instrument, or there is a tegal proc:eeding that ma~ sigmficanth affect Lender's rights in the Property~ (such as a~roceeding in bankruptc}~, probate, for condemnation or to enC~rce lawti or reguiatinns), then Lender ma~~ do and pay for whate~~er is necessar}~ to protect the ~~alue of the Propert}• and Lender's rights in the Propert~~. Lende:'~ action~ ma}~ include pa}~ing any sums secured b~ a lien which has pricxit~~ over this Secunh Instrument, appearing in court, pay~ing reasonable attorneys' fees and entering on the Pmpert~ t~ make repairs. Althc~ugh Lender ma~ take action under this paragraph 7, Lender does not have to do so. Ar~y amc~unts disbursed h} Lender under this paragraph 7 shall became additional debt of Borrc~wer tiecurec; b} th:~ Secunt~ Instrument. Clnles~ Bc~rmwer and Lender agree to other terms of pa} ment. thete amount~ tihall bear interetit frc~m the date e» disburtiement at the ti~te rate and shall be pa}able, w•ith intere5t, up~m nc~tice fre~m Lend~r tc~ f3~~rrower reyue~ting pa}ment. ~'~~K 675 PN~E2926 ~ ~ .x~' ~a~ih~s~ ~~,a~~.~r ~-'=~:a,z~ ~u7~`~<~1~