90106850 - Laserfiche WebLink

Browse

UN1KM14 COVENA" Borrower and lender cover ant and 1111101 At fullaws 1. Ptormim of Prhtdpd stern! Imams PM" =j eras! I me %urges. IMtrrosset shall Isrtimptly pay when due the principal of and interest on the debt evidenced by the Mnta and any prepayment and late •hatgw this tinder the Note, i. Fendefmlease GW lNearstow. subject (in spplh:allle law or Its it wlsttai wal%er by I.rntirr, Dot rower shell pay to Lander an the day monthly payments are due under the Note, until the Note is paid in full, a mum 1 "funds ") equal to on>~twalfdh of: (sl. yearly loan and assessments which may attain prMtrtIV 'over ohs% 1Msurily Instrument; IN yearly leasehold payments or ground rents on the Property. If any; Icl yelatly hoard insurance prentiuma; and (d) yearly mortgage insurance premiums, if any. These items are milled "#win* item Lander may sionmair the founds due on she badsofeurrent date and teasaiaWeatimata of future acniw teems. The Funds dull be held in an institution the deposits or acs:tnints of whwh ate soured err guaranteed by a federal or state agency (including Leader if Lender is such an tnstisutWn)• Lender shall al+lity the I-undt at pay the ourow items. Lender may not charge for holding and applying the Funds, analysing tM a%ttwnr or verdyinl sloe escrow Items, unless Lender pays Borrower interest on the Funds and applicable how pennies lender fit ntskr %wc a charge. Borrower and Lender may egos in writing that intent shall be paid on the Funds Unifto an opretirtenr is made or applicable law tgquiros interest to be paid, Lender shell not be required to par 1Mua+w�er any inostest too earnings ton the Funds. Lender shall give to Borrower, without charge, an annual accounting elf the Funds showing c!edits and debits to the Funds and the purpose fbr which each debit to the Funds was made. The Funds ere pledged sit addstnmal sacurnf y for the sums secured by MisSamrity Instrument, If the amount of the Funds held by Lander. together with the future mttnrhly Payments of Funds Payable prior to the due data of the escrow Jiang. shall exceed the amount required tops the ew;row items when due, the excess shall be, at Borrower's option, either prompptly repaid to Borrower or credited its Iksttower on monthly payments of Funds. If the amount of the Funds held by Lower suer is not sufficient 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 requited by Ieritler Upon payment in full of all sums secured by this Security Instrument. lender shall promptly refund to Borrower any Funds held by Lander. If under paragraph 19 the Property is sold sir acqurrcd by lender. Lender %hall apply. no later then immediately prior, to the ale of the Property or its acquisition by Lender, any funds held b) Lender of the rinse of application so a credit against the sums secured by this Security Instrument & Applicatius of PsoyMML Unless applicable law provides otherwise. all Payments revenood by lender under paragraphs I and 2 shall be applied: Wit. to Luc ckugo due under the Note; second. to prepayment charges due under the Now !bird, to amounts payable under paragraph 2, f mob, to interest due; and lam. to principal des 4. Cliarwl Wife. Borrower shall pay all 'Was essessnseew charges. fines and impositions sforl0utabie to the .. pasty which may attsin priority over this Security Irispvtssenit. end leasehold payments or grtwnd remit, if any. Bwmwrr tilts!! pay thew oWiplions in the onamaer pm WW in paragraph T. sir if not Paid in that manner. Borrower shell pay than on time directly to the person %Mined payment Borrower shall pnxnptiy furnish Ito I coder all notices elf amounts to be paid under this paragraph. If Borrower makes these payments dimity. Burrower shall pro npily furnish to Lander reoeiptsevid"fig the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unles% Ilortnwer lal agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to lender, rh) ciontests in gad faith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lender's upintoon operate to prevent the enforcement of the lien or forfeiture of any part of the Propertw. err lei secures from the holder of the ben on 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 fray attain priority over this ti aunty Instrument. Lender may gave Borrovtiet a notice identifying the lien. Borrower {full satisfy the two or take tine sir nnsre of the action tier forth above within Its days of the giving of notice. L Llafard Iatauaaee. Borrower shall keep ebe improvements now existing or hereafter erected sin the Property insured against loss by fire, haurds included within the tern "extended coverage" and any tither hazards (tot which I.ender requires insurance. This insurance shall be maintained in the amounts and for the periods shoo Lender requires the insurance carrier providing the insurance shall be chosen by Iloerower sub)mi to Lender's approval which shall nor by unreasonably withheld. AU insurance policies and renewals shall be acceptable to Lender and shall include a standard onef" qe clause Lender shall have the right to hold the policies and renewals. If Lender aquae. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt nutwor to the insurance carrier and Lender. Lender may make proof of loss if not made promptly b) 8ltrrower Unless lender and Borrower otherwise agree in writing, inswisrKe proceeds shall be applied to rMoletiurt of repair of the Property damaged, if the restoration or repair is ecotiofnwall) feasible and Lender's security is riot lessened If the restoration or repair is not economically feasible or Lender's secunty *v4o d be lessened, the insurance pioceeds shall be applied to the sums secured by this Security Instrument, wbelher or nut then due. with any caress paid let Ikwrowrr If Borrower abandons the Property. or does not ans «er within 30 Jays a nook-e from Lender that the insurance carrier has offered to settle a claim. then Lender may collect the Insurance pracceds Lender may use the proceeds se/ repair ter matinee the Property or to pay sums secured by skis Sectsnty Instrument. whether or not then due The 110.day lterrud will begin when the notice is given. Unless Lender will Borrower otherwise apse in wnimg. any aWk-as im a prttreW% to pnndpsl shall not *stood in postpone the due date of the monthly payments referred to to tvr.agtaplt. I .amt :err chanite she amount ttt'the payments If under paragraph 19 the Property is acquired by Lender, hanvoifet.ti tnshl! 1.,• Inv 11NuraiNe lttthcae% aitel loco, mil, M%m ttiq from damage to the Property prior to the acqunoeon %hall Pass to i tr4 rr - the exrcnt ail file %um% Wulm by the 4ft sit its Instrument immediately pnor to the acquisition 6. Presernetion sad Malateaaaeeof Property; d.eati bWdk . Wfrower %hall nut JHUuy, damalte or tiuh%unridly crmnge file'reopc. y, allow iii rfvpcitj ice. uc.c,n....a «.. ........ ._...� ..._.._ ............. _ .��... __. Borrower shall comply with the provisions off the leave. and of Wirrower acqusie% fee title to the Prultetty. the teneMtld and fee title shall not merge unless Lender agrees its the finer ter in writing 7. Protecdoa of Leader's Rights in the Property; Mortgage Insurance. If Iltttrttwen tail• lit lterfttten she covenants and agreements contained in this %ccunsy Instrument. sir there t% a legal procerding that may stgoafliantl) alfesl Lender's rights in the Properly (such a%a proceeding in hankrupicy, pttthate, fur condemnation sir to euhtltie 610,11 'if regulations). then Lender may do and pay for whatever is necrosary to protect she %duc of she 10roperty and I ender •% right% in the Property. Lender's actions may include paying any %ums %ecuned h) u hen which has pnurny over theot ter. uteh Instrument, appeanng in court. Paying reasotnble attorneys' fees and eniennot on the Properly at make rglasn Althttuah Lender may take action under this paragraph 7. L ender does out have to der let Any amounts disbursed by Lender under this Paragraph 7 shall became addtitttnal debt tot Ihtrrttwer %eti ured h► this Security Instrument. Unless Borrower and Lender agree fit tither ierm%44 payment, shear amuusilt %hall hear tittere%t kom the date of disbursement at the Note rate and %hall he Pay.thle. with uoere%s, ulerti nutter 1141111 1 endrt in 1411rt.rer requesting payment. ,� • pay «�r:�,�,,.;: