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Home My WebLink About2997 UNIt~UKM CO\'ENAN (J Hu: rowrr and Lei~der covrnant and sgrre a~ fullu~~~: 1. Yayment of Princlpal and lnterest; Yrepayment And [.ate Churgcs. I3~~rruHCr .haU ~~rum~nl~ tihrn ~fu~ tl,r pnnr~pal u~and intrrest on the drbt evi~irnred by thr Nute and any prrp~y ment ~n~ latr ~har~;~, ~iur un~rr ihc Nutr 2. Hunds fur Taxes aad lnsurance. Subject to applic~blr law ar to ~ w ri~trn wai~rr by LcnJrr, l3urru~rr ,h:,ll ~a~ tu Lrnder un ihe d~y m~mthly p~ymrnt~ ar~ ~iur w~~rr Ihe No1r, unlil thr Nut~ i~ ~~aiel in lull, a~uni ("f~un~~") ryual t~~ unr-twrlflh uf: (a) yearly taxrs an~ ati+c»tnrnt~ wh~ch ~nay attain prionty uvrr ~hi~ s«~~~ty i~„~~u~~?~~?~: ~n> leasehold paymrnt~ or gruund rrnts un thr ProExrty. if any; (r) ~'rarly halarcl imurai2;:r ~~rr~nium~: an~i l~i) >carl~ mortgage insura~ce premiums, if any. T~hetie iirmti are calirJ "rscruw ~trms." lxn~rr ~n:~y r,timatr thr F~un~1~ ~ur im thr buiis of currrnt data and re~sonablr r~umate~ of future esrrow items. The Funds shall be held in an instiwtio~~ the depu~its ur ariuunts of whi~h are imurrcl ur gu~r:~n~rrd by a fe~irral ur s~ate agrncy (including Lender if Lender is such an institution). Lendrr ~hall ep~ly th~ Fu~iJ+ t~~ pay thr r~cre~N i~rm, Lender m:~y not chargr fur hulding and applying the Funds, analyting the arcount ur vrrifying thr r~cruw itrm,, unlc,~ Lender pays Borrowrr interest on the Funds and appliceble law prrmits Ixndrr to m~kr ~urh ~ chargr. f3orn~Her anJ Lender may agree in writing that interest shali be paid on the Funds. Unle~s an ~greement is madr ur applir:~ble I8N' reyuires interest to be paid, Lender shall ~iol be reyuirrd to pay f3orruwrr any in~cretit or carning, un thr f~unJ~. l.rncirr shal! give to Borrower, without charge, an annual accounting of thr Fur.tlti shu~~~ing ~rcdit~ and cl~bit~ tu Ihr FwiJ. and ihr purpose fur which rach debit to the Funds w~s madr. Thr Funds are pleelgr~ a, a~~itiunal ucuri~y (i~r ~hr ~um> >rrurr~ h~ this Security Instrument. If the amount of the Funds held !~y Lender, together with Ihe future monthly paymrnts of Fund, payablr prior w the due dates of the escrow items, shatl rzceed the dmount required to pay the e,cr~w itrms when dur, lllt Ctl'tJ1 SIiBII bC. at Borrowrr's option, eithrr promptly reraid to Horrower or creJited to E3c~rrower an munthly paymcnt~ of f=uncJs. It~ thr amount uf the Funds held by Lender is not sufficient to pay th~ escr~w items when dur, f3urruwer shdll pay ~u t.rn~rr :,ny nmount necc~sary to make up the dehciency in one or more payments as reyuired by Lender. Upon payment in tull of afl sums securrd by this Security Instrument, Lender shall prom~tly refund to f3orrowrr any Funds held by Lender. If under paragraph 19 the Yroperty is suld or acquired by Lendrr, Lendrr tihall apply, no latrr than immediately prior to the sale uf the Yroperty or its acquisition by Lendrr, any Funds held by Lender at thr timr uf application as a credit against the sums secured by this Sec:urity lnstrument. 3. Applieation of Poyments. Unless applicable law provi~es otherwise, :~ll payment~ receivcd by Lender undrr paragraphs 1 and 2 shall be applied: first, to Iate charges due under the Nate; serond, to prepay~mrnt rhargr~ due under thr Note; third, to amounts payable under paragraph 2; fourth. to interest due; and last, to principal dur. 4. Charges; Liens. l3orrower shall pay all taxes, assessments, charges, finc~s and im~x~sitions attributable to thr Property which may attain priority over this Security Instrument, and le~sehold paymen~s or gruund rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in ti~at mannrr, I3orrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts ~o be paid under this peragraph. If Borrower makes these payments dirertly, l3urrowrr shall promptly furni~h to Lrndrr ` receipts evidencing the payments. ~ Borrower shall promptly dischargr ~ny lien which has priority over thi~ Srrurity Instrument unlrss Hurrowrr. (a) ` ~grees in writing to the payment of'the obligation secured by the lien in a manner arreptable lo Lrnder, (b) contests in gcxxl { faith the lirn hy, ar defends against enforcenzent of the lien in, legal prcxeedings whirh in the Lrnder'~ opinion operatr tu ~ prevent the enforcement of ~he lien or fi~rfeiwre of any part of the Yroperty; or (c) sc~ures from the holdrr of the lirr~ :~n i agrerment satisfactory to l.ender subordinating the lien to this Security Ins~rwnent. I(' Lrnder dcterminrs th~t any part uf ~ the Proprrty is subject to a lien which may attain priority over this Security Instru~nent, Lrnder may give I3orrow~r a ; notice identifying the lien. Borrower shall satisfy the lien or take one ur more of the actions srt forlh ebove w~thin 10 d~} ti ' of the giving of notice. ~ 5. Hazard Insurance. f3orrower shall keep [he improvements now rxi~ting or herenfter erec~ed on the Property ~ insured against loss by fire, hazards included w~thin the term "extended covrrage" :~nd any other hazards f~~r w~hich Lender ~ reyuires insurance. This insurance shall be maintained in the amounts and for the period~ that Lendrr rryuires. ~The ~ insurance carrier providing the insurance sh311 be chosen by F3orrower subject to 1_endrr's :~pproval w•hirh sh~ll nut be ~ unreasonably withheld. € All insurance policies and renewals ~hali be acceptable to Lender and shall include a stan~l~rd mortgage clause. ~ Lender shall h~ve the right to hold the policics and renewals. If Lender requires. Borrower tihall prumntly gi~e to Lrnder ail receipts of paid premiums and renewal no~ices. In the event of loss, Borrower shall give prompt noticr to the insurance ~ carrier and Lender. Lender may make prcx~f of toss if not made promptly by Borrower. ~ Unless Lender and Borrawer otherwise agree in writing, insurance proceecis shall be applicd ro rrstoration or re~air of the Property damaged, if the restoration or repair is economically feasible and Len~er•~ se~U~~~y ~s ie5~~~~C~. ir ~n~ ~ restoration or repair is not ee:onomically feasible or Lender's security would be lessened, the insurance proceeds Shal! he ~ applied to the sums secured by this Security Instrument, whether or not then due, with any rxcesti paid to Bc~rroaer. If i Burrow•er abandons thr Property, Of (I(1CS fiOI 811SK-er K~ithin 30 days a notire Gom Lrnder th~t thr imuranre rarrier ha~ ~ a(Tered to settle a claim, thrn Lender may cullect ~hr insurance procerds. Lendrr may use thr prexrrds to rr~~air or rr,t~~re ~ thr Property or to pey sums secured by this Srcurity Instrument, whether or ncit then dur. The 3U-day ~rri~xl will brgin ~ when thr notice is given. ~ Unfrss Lender and f3orrower otherwise agrre in writing, any applicatiun c~f pnxeed~ tc~ princ~pal shall not extend +,r - post~ne the dur date of the monthly paymrntti refrrred to in ~aragraphs I and 2 or rhange the emc~unt uf the pa}~meni,. (I ~ under paragraph 19 the Property is acyuired by Lender, Borrower's right to any insurance ~licies and prcx;eeds resulnr;g t from damage to the Pro~erty prior to the acyuisition shall pass to Lender to thr extent of thr tiums secured h~ this Serurity ~ Instrument immediately prior to the acquisition. ~ 6. Preservation and Maintenance of Property; Leaseholds. Borrowrr shall nu1 ~rtitni~~, danzage or tiubstantially ~ change the Property, allow the Property to deteriorate or commit waste. If this Sc~urity Intitrumrnt iti un a Ira~,nc~~ld, ~ Borrower shall comply with the provisions of the lease, and if [3orrower aryuirc~ fce titlr to the Prurerly, the leasri~old and ` fee title shall not merge unlc~ss Lender agrec~ to the merger in writing. i. Yrat+ection of Ixnder's Rights in the Property; Mortgage Dnsurance. If Burru~~~cr fails to ~erform thr covenants and agrremrnts rontained in this Security Instrument, or there is a lrgal ~rexeeding that m:~~ tiigiufirantly~ afTrct Lender'ti rights in tFe ProE~erty (surh as a pnicecding in bankruptcy, probale, fur rundemnati~~n or t~~ rnforre laws ~~r regulations), then Lender may do and pay for whatever is ne~~ssary to protect the value of the 1'rorer~y and Lender's right~ in the P~operty. Lender's aetions may i~clude paying any sums secured by a lirn which has ~riont~~ cner ~his Serun~~• Instrument, appearing in ce~urt, paying reasonable attorneys' fec~s and entering on thr Prarrn~ to m~ike rrpairs. Althc~~~h Lender may t~ke action under Ihis paragraph 7, Lender dces not have ta do so. An}• amounts disbursed by Lender undrr this paragra~h 7 shall bere~me addilional debt eif Rc+rrciwrr ~ecured by thiti Security inslrument. Unlrss Borrow~er and Lender agree to other terms of pa}~ment, Ihrse am~~wtts tihall tkar interest frun~ ihe date of disbursemcnt at the Notr rate and shall be payuble, witn interc~t, ur~m nutire f~r~~m Lender to Hc~rn~uer ; requesting payment. . ao~K657 ~~A~E1885 6 ~5 ~;~:~E2997 ' ~ - ~ , ~ ~ _U~ rr ~ _ u - - _ ~ r .~.z~~~_ ~r~~. ~