89103044 - Laserfiche WebLink

Browse

L F UNiFORM CY%VFNAI3 TS Borrower and Lender covenant and agree as follows: 89. 103044 L, Psymeat of Princi'al sad laterest; Prepayment send late C hinges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. L Fteatle for Taut" tonsil lasttraace, Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments ate due under the Note. until the Ngtc is paid in full, a sum (-Funds") equal to o!-twNRh or- (a) yearly taxes and asmssments which may attain prigrlty. over this Security instrument; (b) yearly hamlaold payments or ground rents on the Properly. if any; (c) yearly, hazard insurance premiums; and (d) yearly morlow intuns ice premiums. if any. These items are called •'escrow itema, Lender may estimate the Funds due on the buia ofcurrdtt data and reasonable estimates of future escrow items. The Funds shall behold in an institution the deposits craccounts ofw'hicb awe insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lendaf Ovak? 4Ay, the Funds to pay the escrow items. I.ender may not charge for holding and applying the Funds. arralylino' 4,e ii WLwnt or verifying the escrow netts, unless Lender pays Borrower interest on the Funds and applicable law perrtirit ender to make such a charge. Borrower and Lender may agree in writing that interest shall be paid on the Furl& Unless an ar.cement is trade or applicable law requires interest to be paid. Lender shall not be required to pay Parcower any intere9t or earnings on the Funds. Lander sWt give to Borrower, without charge an annual accounting of the Funds showing %:refits and debits to the Funds and the purpose for which each debit to the F-;nds was made. The Funds are plcdgqd as additional security for the sums secured by WeSecusity Instrument. if the amount of the Funds held by Lender, together with 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 Borrooves option, either promptly repaid to Borrower at- credited to. Borrower on monthly payments of Funds. if the amount of ilte• Funds held by Lender is not sufficient to pay the escro* item when due. Borrower shall pay to Lender any amount ne+Qessary to erts lee up the deficiency in one or more payments as tv4paired by lender. Upon payment in full of all sums secured by this Secwrily Instrwimdat, Lender shall promptly refund to Borrower any Funds held by Lender. if under paragraph 19 the Property is'sold of acquired by lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any- Fk+ads held by Lender at the time of application as a credit against the sums secured by this Security instrument. 3. Appiiatiari of Payttanta. Unless applicable law provide:: ot,4terwise. 29B gisyments received by Lender under paragraphs I and 2 shall be applied: first, to late charges due under the Note; second; toprepayment charges due under the Note; third. to amounts payable under paragraph 2; fourth. m interest: due; and last, to pdw ipal due. d. CUraw Tkits. Borrower shall pay all taxes, a summents, charges. fines wW impositions attributable to the Property w Bich may attain priority.over this Security Irtstiauaotttt, and leasehold payments .far ground rents, if any. llhnowre #fall pay these obligations in the manner provide din'prtr� 2, or if not paid in that inner. Borrower shall pay theiii am.drne dircaWy to the person owed payment. Boriofstrr tilrfalC ptmmptly furnish to Lender all notices of amounts to be pstiifi attsder this paragraph. If Borrower nrialres these Mmmh dincctly, Borrower shall promptly furnish to Lender teodpts evkleocing the paymens. dw vomp ii v ic,:st aw wry ilea which nm pt Km icy over this bg=ty Imtrur neat unless Dmower; (a) agrm in writing to the payment of the obligation secured by the fietaitt a tanner acceptable to Lender; (b) contests in good faith the lien ter. or dcfEndS against enfarcemcut of the lien in. k 9W,p!iviceeiirip which in the Lender's opinion operate to Pro the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder 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 Security instrument. Lender may give Borrower a , of tine ie#tttifying the Jim. Borrower shall satisfy the lien or take one or au-tre of the actions set forth above within 10 days of the pvipg of notice. '�: `.!!based laainace. Borrower shall keep the it"tcycments nisi existirt)i ipr hereafter erected on the Property insured Op.= loss by fire. hazards included within the tom' :ioiitende:d coverage" &v,4 ='Y other hazards for which Lender roquit+es .rxtsitrance. This insurance shall be maintained its dhe amounts 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 unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and rmewsls,, If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the e:%raer of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss itnot made promptly by Borrower. Unless Lender and Borrower otherwise agree in' writing. insurance proceeds shall be applied to restoration or repair . Of the Property damaged, if the restoration or repair is ecvt mically fessiVe and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security wpulil be iesset aL the insurance proceeds shall be appiied.t0i dire sums secured by this Security Instrument.. Whgther or not then dur.'wit'h any excess plaid to Borrower. If Borrower 0"dons the Property. or does not answer within 30 days a notice from Lender that the insurance carrier has of rod to settle a claim. then Lender may collect the insurance proce ds.'Lender may use the proeaAbRto repair or restore the Property or to pay sums secured by this Security Instrument, whether or not theca due. The 3"i period will begin when the rot ire is gives:. Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. i. Ptgervstioa aaW Mniateaaace of PrWrW. Leaseholds, Borrower shall not destroy, damage or substantially change the Property. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold. Borrowtr shall comply with the provisions of the tease. and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge unless Leader agrees to the merger in writing. 7. Pr'erteetioa of L.rtader's W811112 is the Pr011ie"N Mortgage Insurance, If Borrower fails to perform the covenants and agreements contained in this Security instrument, or there is a legal proceeding that may significantly affect L.tnder's rights in the Property Otueh as a proceedint- n !bankruptcy, probate, for condemnation or to enforce laws or rit'SUI uxis), then Lender may do and pay for whatever is necessary taprotect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument. appeanng in contra, paying reasonable attorneys fees and entering on t he Property to make repairs Although Lender may take actton under thts paragraph 7. Lender does not have to do so Any amounts disbursed by Lender under this paragraph 7 shill becerne additional debt (if Iktrrower secured by this Security Instrument t; nits, Burrower anti I ender agree to ether arras of pasment. these amc•ants shall hear interem from the date of deshur%erneni at the ! u!r mete and %hall he hayahte. %11h rntrre�r. ujwp nomre from 1 ender to fi,irrower requeming payinenr 7 -14 t