89103667 - Laserfiche WebLink

Browse

r F r JM1PnMU MVV.WAwT! 89 --- 103667 1. I'quest of Principd and Interest; Prepsytaent sod Late C mps. Borrower shall promptly pay when due The principal of and interest on the debt evsdenced by the Note and any prepayment and late charges due under the Note. 2, Rids for Toxes land Wwromm Subject to applicable law or to • written waiver by Lender. Borrower shall pay to Lender on the day monthly payments are due ender the Note. until the Note is paid in full, a sum ( "Funds ") equal to one-tweMh of: (a) yearly taxes and aneuments which may attain priority over this Security instrument; (b) yearly leasehold payments or ground rents on the Property, if any; (c) yearly hmtd insurance premiums; and (d) yearly re-engage insurance premiums. if any. 'theme items are caked "eacrow items." Lender may estimate the Funds due on the beams ofe arrest data and reasonable estimates of future escrow items. The Furies thrall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or elate agency (including Lender if Lender is such an institution). Lender :hall apply the Funds to pay the escrow items. Larder nay not charge for holding and applying the Funds. analysing the account or vetifying the escrow items, ushaa Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender way agree in whiting that interest shall be paid on the Funds. Unless an agreement is made or applicable law retgWm interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender stall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Insttttnnent. U the aauount of the Funds held by Lender. together with the future monthly payments of Funds payable prior to the due data of the escrow it=* shall exceed the amount required to pay the escrow items when due. the exams shall be, at Bonv*ves option, either promptly repaid► to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Leander is not vAcient to pay the escrow items when due Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of oll aurae secured by this Security instrument, Lender shall promptly refund to Borrower any Funds held by Lander. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply. no later than imintediately 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 thesums secured by this Security Instm-meat. 3. AppYeWee of PayneMa. Unless applicable law provides otherwise, all payments received by Leader under paragraphs 1 and 2 shall be applied; thst. to bee charges due under the Note; secc*KL to prepayment charges due under the Note; third, to amounts payaW under paragraph 2; fourth, to interest due; and lot, ;.o principal due. 4. Oargen Una. Borrower shall pay all taxes. usessrnents, charges, fines and impositions attributable to the Property which may attain priority.over thin Security Instrument,, and lasebold payments or ground rents. if any. Borrower shall pay these obliptions is the manna provided in parag *ph 2. or if not paid in that manner. Borrower shall dray them on time directly to the petraan owed payment. Borrower shall promptly famish to Lender all notices of amounts to be paid tsrnder this paragrapit.1(' Borrower makes than payments directly, Borrower shall promptly furnish to Lender receipts evidencing the(symeats. O- 1haU;g........1 1l new* agrees io writingtod a payneitt of the obligation secured by the lien in& eaaarner acceptable to Lender; (b) contests in good faith the lien by, or dekade opium enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of thdlien or forfeiture of my passe of the Properly; or (c) secures, frorn the holder of the lien an ag emeant satisfactory to Lender subordinating the lien to this Security Insttrusamt. If Lender determines that any put of the Property is subject to a lien which may attain priority over this Sb unity Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one ear snore of the actions set forth above within 10 days of the giving of notice. & Huard Iraal son.. Borrower shall keep the improvements now exisd ag or hereafter erected on the Property insured against Was by Am- haratrSs mchrded within the term "extended coverage' ",amdany other hazards for which Lender requires insuratice.,:'I:fiiiis insurance shall be maintained in the amounts and for tte-pssriods that Lender requires. Tbe. insurance carrier pLnmdmX the insurance shall be chosen by Borrower subject to Leader's approval which shall not be unrsaeonably withheld. All insurance policies and tawwab shall be aacef vA& to Lender and shW inchide a standard lnoripge clause. I.tysder shall have the right to hold the policies and renewals. If Leader inquires; Borrower s1ta11 promptly give to Lender all receipts of paid premiums and renewal, Mum. In the event of loss. Borrower shall give prompt notice to the insurance carrier and L ender. Lender may nuke prodof loss if not made promptly by Borrower. Unless Fender 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 economically feasible and Lender's security is not lessened. If the remoration or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the wars secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If Doi rowa abandotrs glue Property, or does riot answer within 30 days a notice from Lender that the insurance carrier hats.. A P ' to settle a ¢item then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay-%a= secured by this Security Instrument, whether or not then due. The 304sy period will begin wikau ultra sallies is g3vrrs. . Unlen Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or pompme the due elate 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 Fender. 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. 6. PtsaenatMa ear/ Maiateaaaee elf Papery, Leaseholia. 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. Borrower shall comply with the provisions of the lease. and if Borrower acquires fee title to the Property. the leasehold and fee title shall not merge unless Leander agrees to the merger in writing. 7. Protectba 0 Lender's Blg*.ts is the Property; Sfort:= Inserence. Lf Borrower fails to perform the covenants and agreements contained in this Secunty instrument. or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or ngulaimm), then tender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in The Property. LendWs actions may include paying an) sums secured by a lien which has priority over this Security insim ent, appearing in court. paying reawaable attorneys' fees and entering on the Property to make repairs- Although Lender nt3y take action under this paragraph 7. Lender does not have to do so Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Securttl Instrument Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from Ow date of disbursement at the tithe rate and shall he payable. with interest. upon novcc from l.enaer to Mirrower requesting payment I