|
<br />
<br />
<br />
<br />
<br /> UN 1Ft' ;LM COVI tANTS, Ham. rower aWl Leader cafeunt nod age as follows
<br /> 1. Payaaxettt adl Prfadpa and lntmst; prqAyttaent sand Lstat. Wis. BorrowcT shall piVmptly pay when due
<br /> th principal ofanod interest on, the debt &Aderoced by the Note acid any pnTaym"t vid bate charges due under the Nate,
<br /> t Fui k for' Tax,=, s W lam. Subjest to appkabk law of to's, written waiver by L,aA!cr: Borrower 5hxll pay
<br /> to I, vidcr on the day monthly piryrnertts an due under the Note, until the, Nate is paid in full. a arum ("Funds'') equal to
<br /> orm-twelfth of: (a) yearly taxes aaad! eta "chiefs miy,atttain priority over this Security Inmruntent:.(b) yearly
<br /> kmscholid patyments or grime rents? on'tbe Property: it'any: el yearly hazard insurance premiums; and (d) yearly
<br /> inortp c insurance preWurrrs, if any,, These item acre called •"escrow item" Lender t.say estimate dr: Funds. due on the
<br /> basis of current data acrd reasonableestim ates of ilatuare escrow,items.
<br /> The Funds shall b t, heW in an institution the deposits or accounts of which arc insured or guaranteed by a federal or
<br /> stair agency (including Lender if L.ettda is;such an institution). Lenderhallapply the Funds to prey the escrow items.
<br /> Lender may not charge for holding and applying the Funds, analyzing th;e secaunt ar verifying the escrow items. unless
<br /> L..aWesr, pays Borrower interest- w the Funds and applicable law; perrWts'Leadesr to snake such a charge. Borrower and
<br /> Lender may agree in writing that interest shall be paid on the' Funds. Unless an agreement is made or applicable taw
<br /> requires interest to be paid, Linder shall not be required to poy,.Borrower any interest or earnings on the Funds. Lender
<br /> shall give. to Borrower, without charge; an annual, accounting of. the Fronds showing credits and debits to the Funds and the.
<br /> purpose for which each debit to the Funds was made. The Funds are pledged. as additional security for the sutras secured by
<br /> this Security .Instrument.
<br /> If the amount of the, Funds held.by Lt n&x, together with the future monthly payments of Funds payable prior to
<br /> the due dates of the escrow items. shall exceeds the amount required to pay the escrow sterns when due, the excess shall be.
<br /> at Bvr.owtr's option. either promptly repaid to. Borrower or credited to Borrower on monthly payments of Funds. If the
<br /> amount of the Funds held by Lender is not sufficient to pay the escrow items when due. Borrower shall pay to Lender any
<br /> amount necessary to make up the deficiency in one or more pail ,.cents as required by Lender.
<br /> Upon payment in full of all sums sccusred by this Secu. y' nstrument, Lender shall promptly refund to Borrower
<br /> anv Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no latzr
<br /> than immediately passe to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of
<br /> application as a credit against the sums secured by this Security Instrument.
<br /> 3. Application of Payments. Unless applicable law ptnvidcs otherwise, all payments received by Lender under
<br /> pamZraphs I and 2 shall be applied-,. first, to late charges due under the Note; second, to prepayment charges due under the
<br /> Note; third, to amounts payable under paragraph 2; Pourth, to interest due, and lut, to principal due:.
<br /> 4. Cho,,-M; FJens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br /> Property which may attain priority, over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> Borrower shall pay these Wigstions in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall
<br /> pay them on time directly to the person owed payment: Borrower shall promptly furnish to Lender all notices of amounts
<br /> to be paid under this paragraph. if Borrower retakes these payments directly. Borrower shall promptly furnish to Lender
<br /> receipts evidencing the payments:
<br /> &Xrower shall promptly discharge any lien which has priority.over this Security Instrument unless Borrower: (a)
<br /> agrees in writing to the payment of the obligation secured by the lien. in a manner acceptable to Lender; (b) contests in good
<br /> faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br /> prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secure. from the holder of the lien an
<br /> agreement satiafactovy to Lender subordinating the lien to this Security. Instrument. If Lender determines that any part of
<br /> the Property is subfcat to a lien which may attain priority over this Security Instrument, Lender may give Borrower a
<br /> notice identifying the lice. Borrower shall satisfy the lien or take one or more ofthe actions set forth above within 10 days
<br /> of the giving of notice.
<br /> S. Hazard Insurax-re, Borrower shall keep the improvements now existing or hereafter erected on thr Property
<br /> insured against loss by fire, h,,%;t ,rds included within the terra "extended coverage" and any other hazards for which Lender.
<br /> requirm insurance. This iraamurAnce shall be maintained in the amounts end for the- period% that. Lender requires. The
<br /> insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
<br /> unreasonably withheld.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage claum.
<br /> Undcr shall have. the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender
<br /> all receipts of paid premiums and renewal notices. In the event of lass, Borrower shall give Drompt notice.to the insurance.
<br /> carrier and Lender. Lender mrymake: proof of loss if not made promptly by Borrower.
<br /> Unless Lender and 8,arrrowcr otherwise agree in writing. insurance proceeds %hall be applied to restoration or repair
<br /> of the Property damaged, if the restoration or repair is economically feaasible and Lender's security is not lessened. If the
<br /> restoration or repair is not economically feasihle or Lender's security would be Imsened, the insurance proceeds shall be
<br /> applied to the sums secured by this Security Instrument, whether or not then. due, with any excess paid to Borrower. If
<br /> Borrower abandons the Property, or do<:s not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settle a.claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by this Security Instrument. whether or not then due. The 30-day period will begin
<br /> when the notice is given.
<br /> Unlcas Lender and Borrower otlarrwise agree in writing, any application of proceeds to principal, shill not extend or
<br /> MtlK)ne the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If
<br /> under paragraph 19 the property is,acquired by Lender, Borrower's right to any insurance tx)liciet and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall. pass to Lender to the extent of the runts secured by this Security
<br /> Ostrumcni immediately pricer to the acquisition,
<br /> 6. Praraarvatlon and Malnttnance of Propcrsy; IAMholda. Borrower shall not destroy, damage or s!abstantially
<br /> change the Property, allow the Property to deteriorate or commit waste, If this Security instrument is on a leasehold.
<br /> Borrower shall comply with the provisions of the lease, and if borrower acq-ires fete title to the Property, the leasehold and
<br /> fee title shall not merge unless lender agrees to the merger ire writing.
<br /> 7. Protection of Lender's Rigbta In v'be Property; Mortltage Insurance. If Itsarrowe.r fails to perform the
<br /> covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may signif;cantly affect
<br /> Lender's rights in the Property (such as a proceeding an bankruptcy. probate, for conderranation or to enforce laws or
<br /> regulations), then Lender may do and pay for whatever.is necessary to protect the value of the Property and Lender's rights
<br /> in the Property. Lender's actions may include paying any sums secured by alien which has priority over this Security
<br /> instrument, appearing in court, paying reasonable attorneys' fees and entedng on the property to make repairs. Although
<br /> Lender may take tction under this paragraph 7. Lender does not have ,ra doso. ,
<br /> Any amounts disbursed by Lender under this paragraph 7 shall N-comc additional debt of Borrower secured by this
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts sisall bear interest from
<br /> the date of disbursement at the Note rate and shalt br payable, with interest, upon notice from Lender to borrower
<br /> requesting payment.
<br />
|