89104245 - Laserfiche WebLink

Browse

3' A In f UtYI>? w Co+t:t+fwiS Borrower and Lender covenant and agree as follows: 1. Playstatm! of PrhelMi aa1 i&teraaR P't+tyrrteat cart tie (.latges. 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. I Fsmttls for Taxes mil Iawtrttree. Subject to applicable law or to a written waiver by Lender. Borrower shall pay to Lender on,the day monthly payments an due under the Note: until the Note is paid in full, a sum (••Funds') equal to ooe-twekth of () yearly taxes and assessments .which may attain priority over this Security Instrument; (b) yearly k"dtoid payinents or ground rents on the Ptzip". , if any; (c) yearly- - hazard insurance premiums; and (d) yearly nwip a insurance premiumw if ray. 77xae items tux called'•aerow items." Lender may estimate the Funds due on the bait ofeurrent dau and raaonableatimstesoffruturxescrow items. The Funds shall be held in anhistimiion the deposits or accounts of which are insured or guaranteed by a federal or state &Marcy (including Deader if Leader is sucle an institution). Lender shall apply the Funds to pay the escrow items. I,mder may not charge for holding and applying, the Funds, analyzing the account or va Wng the escrow items, unless Leader pays Borrower infamat an the Rinds and bppiicOk law permits Le ada to make such a charge Borrower and Ltndtt may agree in writing that- interest shall be paid on the Funds. Unless an agreement is made or applicable law rogrsirda interest to be paid. Lendershall not be required to pay Borrower any interest or eamings on the Furls. Lender shall give to Borrower. without chart; an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Furls was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. If the amount of tie Funds: bold by i e idev, together with the future monthly payinents of Ftw4s, payable prior to the due dates of the escrow items. "!exceed the amount required to pay the escrow it .-when dries the excess shall be, at Borrora's option, eitber preaaptly cope id to Borrower or credited to Borrower on rirnntidy payments of Funds. If the swoust of the Funds held by Leader is not sufficient to pay the escrow items when due. Borrower siaJt_pay to Lender any sarewat necessary to make up the dekiency in one or more payments as required by Lender. Upon payment in IWl of all sums secured by this Security Instrument Lender shall promptly.rethild to Borrower any Funds held by Lender. If under paragraph 19 the Property is said 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 bold by Lender at thetftne of appiicatiorr as a credit against the suns secured by this Security Instrument. 3. Appiiesdest of iPayments, Unless applicable law provides otherwise, all payments received by Lender under paragraphs I cad 2 shall be applied: h-st. to late charges due under the Note;, seernnd. to prepayment dirges due under the Note; third. to amounts payable tender petagraph 2; fourth, to interest due; and first, to p+rptesiial due - 4. Chown Una. Borrower. shall pay all taxes assessments. charpt. Gael tra:iAmpositiions attributable to the Property which may attain ptiority.over this Security Instrument. and leasehold payments or ground rents. if any. ftr:owes rilha0 pay these obligations in the munner provided in paragraph Z or if not paid in that mom, Borrower shall pay them on time directly to the person awed payment. Borrower shall proaTtly furnish to Lender atf.isaticds of amounts to be paid wrier this paragraph. If Borrower mattes these payments directly. Borrower shall promptly furnish to Leader reodpts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien is a manner acceptable to Lender; (b) contests in good faith the lien by. or defasds against enforrcennent of flat: lien in. legal proceedings which in the Lender's opinion operate to piev+ast the enforcement of the lien or forfeiture c(any part of the Property; or (c) secures frodn the holder of the lien an agreanett satisfactory to Leader subordinating the lien to this Security Instrument. If li under determines that any pan of the Property is subject to a lien which may attars priority over this Security instrumess, Lender may give Borrower a rintice identifying the lien. Borrower shall ss*y -the lien or take one or more of the actions set forth,yieve within 10 days of also giving of notice. S. Ha=urd Iattatr&ist+t<., Boo terwwes shall keep the dmpro ttaaents now aisting or hereafter enrol on the Property inured against loss by fire. hiiards indtuted within the term "emaided cwversW* and any other haz als for which Lender reequitrrs insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subpxt to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender card shall include a standard mortgage clause. Fender it" have the right to hold rile policies aW renewals. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premium and reaeurral notices. In the event a( loss. Borrower shall give prompt notice to the insurance caner and Lender. Lender may drake proof of loss if not made promptly by Borrower. Unless Lender and lk±rrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, I `the restoration or repair is econanically feasible and Lender's security is not lessened. If the restoration or repair is m�r onomicdly feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the sums secured by this Seeunty instrument, whether or not then due, with any excess paid to Borrower. if Borrower abandons the Ptoporty. or does not answer within 30 days a notice from Lender that the insurance carrier has A tad to settle a claim. than mender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument. whether or not then due. The 30-day period will begin whenn the notice is given. Unless Lender and Borrower offsawae agree in writing, any application of proceeds to pri ncipal shall not extend or postpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amount of the payments. If trades paragraph 19 the (Property is acquired by Lander, Borrowtes right to any insurance policies and proceeds resulting from danege to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Sexunty instrumernt immediately prom to the acquisition. i. Plnaasmt►aNai& ear/ MaWeaatsee of Plroper j; Lembolis. Borrower shall not destroy. damage or substantially change the Properly, allow the Property to deteriorate or commit waste. if this Security instrument is on a leasehold, Borrower shall compiy with the provisions of the lease. and if Borrower acquires fee title to the Property. the kasehold and fee title shall not merge unless Lender agrees to the merger in writing. 7. Prrsaattiea of I.erula's Rlgits is the Frornety; Marge Imiersaee. if Borrower fails to perform the eaveluintnand agreements contained in this Secunty Instrument. or there is a legal proceedituthat may sigeiticantiv affect Lender's rights in the Property Much as a proceeding in bankruptcy. probate, for condemnation or to enforce laws at regulat- wris). then Lender may doand pay for whatever is necessary to protect the value of the Property and Lender's nRhts in the Property Lender's actions may include paying any sums secured by a lien which has pnority over this Security Itsatninsent, appearing in court. paying reasonable attorneys' fees and entenng on the Property to make repairs Although Lender may take action under this paragraph 7. Lender does not have to do so Any amounts disbursed by lender under this paragraph 7 shall become Wit tonal dew of Borrower secured by this Security instrument. Unless Bc cornet and tender agree to other terms of payment. these amounts shall bear interest from the date of disbursement at the Note fate and %hail be payable. with interest, upon notice fnoin Lender to Rotrower rbquestcng payment 7 • t r..