88104841 - Laserfiche WebLink

Browse

88- 104841 UNIFORM COVENANTS. BOlTDWII' and Lender covenant and IQfM I' tolows: 1. P8YfIl.nt of Prlnclp.1 .nd Int.r.et; pr.paym.nt .nd Lat. Chorg... _er .h.n promplly pay whan duo th. pmcIpII oflOd lnI_t on tho dabt _cod by tho Noto ond any plOllOYIIIOl1t and 101. challl" duo undor tho Nol.. 2. Fund. for T.... ,""d Ineur,""c.. SubJacl to appllc:&blo law or to 0 wrtllan w.lver by Lander. Borrower .h.11 p.y to Landor on tho day monthly poymant. ... duo under tho Not.. until tho Nol. I. paid In tuD. . .um ("Fund.') equ.1 to on..twalfth ot: (.) y..11y ..... on<! _....... which may ottaln prlorlty ovor thl. Socur11y In.trumant: (b) yoorty I....hold payment. or ground rant. on th. Proparly. I IOY:(C) yoorty _ 1n.......CO p<emluma: and (d) yaarty monllllgo In.......co p<emlum.. K any. Th... "am. ... caRed "..crow "ama." Landor moy _ th. Fundi duo on tho bo.1a of current dolO and ....onobl. ..timet.. ot tutu'" ..aow "om.. Tho Fundo.W bo hold In an In.lJtuI1on tho dopa.". or Iccountl 01 which ... In.ured or guarwntaod by 0 ledaral or .101. Igancy ~cIudlng linder ILlndor II ...ch an In_). Landor .hallapply tho Fund. to pay tho ncrow "am.. Landor may not charg. lor holding IOd ~g lhe Funda. anoIymg tho Iccount or vartfylng 'hi ..aow "..... unlo" Landor pays Borrower Interest on 'h. Fund. IOd appIcIbIo law pormIta Llndor '0 "'""" such . charge. Borrower and Landor may Igree In writing that In,erest.haII b. paid on tho Fund.. Un'" an agreement is made or appUcable law requires k1tensat to be pakI, Lender shd"o1 be required to pay BOITOWer any interest or eamlnga on the Funds. Lena shd give to Borrower, wtthout charge, an annual accounti1g or the Funds showing credits and dabtta to the Fundi and the purpole tor which each debit to the Funds WIS made. The Funds are pledged as addlUonal security for the sums .ealred by thll SlaJr11y InlUUmoot If the amount o' the Funds held by Lender, together with the future monthly p8yments of Funds payable- prior to the due dates of the naow Items. aMI exceed the amount required to pay the escrow hems when due. the excess shall be, at Borrower's option. elther promptly repaid to Borrower or ueclled to Borrower on monlhly payments 0' Funds. If the amoun1 01 the Funda held by lender Is not sutlk::isrt to pay the esCJOW Items when due. Borrower shall pay to LendBl' any amount necessary to make up the deficiency In one or ""'"' _Ill o. required by Lande<. Upon p8YIMI11 In ful of aD sums securccl by this Security Instrumenl, lender shall promptly refund to Borrower any Funds held by Lender. "under paragraph 18 the Property Is sold Of' acqulred by Lender. Lender shall apply, no laler than. inunediatety prior to the sale of the Property or Ita acqulaItJon by Lender, 6lOY Funds held by Lender at 'he Ume 01 application as a credit against 'he sums secured by this Securtty Instrument 3. AppllcBlllon of Payments. Unl... appllcabl. low provld.. OlhlllWl... 1M p.yment. racelvad by Landor under- _h. 1 and 2 shaS be appIed: first, '0 late charges due under the Noll; second, to prepaymen1 charges due under' the No18i third. ita amounts ply8bl1I under p8II.graph 2: fourth. to interest due; and last, 10 principal due. 4. Ch.rgea; U.n.. Borrower shan pay..' lUes, usesaments. charges. nnltS and Impositions attrlbutible 10 the Property which ~ attain priority t;;i<< this security InS1nJment. and leasehold payments or ground rents. " any. Borrower shaD pay these oblgations in the manner provided In ~graph 2. or " nol paid in that manner, Borrower sha_ pay them on time dlrecUy 10 the person owed payment Bon'Ower sha! promptly furnish to Lender all nollces of amount. to be pekl under this paragraph. II Borr~er makes these payments dnc1Iy. _or.hd promptly furnish '0 Landor receipt. lVidanclog thl payment.. BDfJ'OWS' Ihd promptly dschargII any Ien which has priortty at. thb Security Inltrumenl unlesa Borrower. (a) agrees In writing 10 the PQfMMt of the obIgatkIn secur.t by the len In . mannII' aCCIIptatH to Lencs.; (b) contest! In good faith the Hen by, or defends against entorcernent of the Ben In, legal proceedlnga which In the Lender', opinkKl operata to pr~ent the enforcement of the Den Dr t_", of any part of tho ~or (c) .eaI.... tram tho holder at tho lion In "_t aotlltlclory to Lendor .u_g tho lion to thiI SlaJr11y InlU\lmOnl. II Lsndor _as that any part 01 ,ho Property I. aubjacl to . Ilan which may IttaIn prIorily ovor thl. SlaJr11y Instrument, Lender may 'iie Bon'ow8'" . notfce Identifying the Den. Borrow_ Ihal NUlry the Uen or take one or more of the aedons sel lorth abovo wtthIn 10 doyI at tho giving at notice. 5. Hezard In.ul'llnc.. Ilclrnrw<r.hd koap tho Improv_. nOVl Old.llng or h_nor arecled on tho Property insured 19aIn.' 10.. by tire. ha:zards Included wtthln the term "extended coverage" and any oth_ hazards for which Lender requires nlurance. This Insurance ahal be rNintIlIned In the amounts and 10r lhe periods that Lena requlrn, The Insurance canter providing the InsufWlC8 shaD be chosen by Bonower subject 10 Lend<<'s approval which shall not be unrel..onabIy wllhhllkl. AI Insurance poIcieI and fWlewals shaD be acceptable to lender and shal lndude a ...ndard mortgage clause. Lender shall have the rIgIrt 10 hold tho pcIIcIoa and ronawafa. If Lander requires. BarrOVlor.haII promPl1y glv. to Lander II receipt. ot paid premium. and renewal notices. In the event of loss, Borrower shall give prompt nDUct to the Insurance carrier and Lender.Lender may make proof of loss If not modo promptly by Borrower. Un.... Landar and Borrower othorwil. "_ In wrIfIng. InIlUllOCO proceed. .hal b. appMad '0 roa1om1on or .-. at tho Proparty darMged. If the restomion or repalr is econOl'l16cally 1Mattle and Lender'. securtly Ia not lessened. if the restoration or repair Is not economk:aIy feuble or Lender's HCUrtIy would be laMMed, the InsulWlC8 proceeds shaY be appled to the lums secured by this Securtty Instrument. whether or nat then due, with any excess paid 10 Borrower, II BomJWcr abandons the Property. or does not answer within 30 dIrp . noUc:e 1n:Jrn u.uier that the Insurance cam.- hils onend to s.rue . clalm, then Lender may collect Ihe Insurance proeeeds. Lender rmy use the pn:teeeds to repair or restOl1l the PmpEWly or to pay sums secured by 1hls Security tn5IrUmenl. whether or no1 then due. The SQ.<IIy porlod wi! begin whan tho notlco I. givan, UNaI Lender .,d Bonuwer otherwise agree In wrtttng, any appllcaUon of proceeds to princIpaJ shall not extend or postpone the due doto oflh. monthly poymonta ref_ 10 In """,graph. 1 and 2 or change tho amount of tho poymanlll. If undor """,graph 19 tho Proparty II acquired by Landor. Bonowar'. rlghl 10 any insuranco pol_ IOd proceed. ....ulllng from dlmag. to the Proplll1Y prior to tho ocqullltlon aMI pus 10 t.1der 10 the extent of the sums by this Security Inilrumen1 immediItet; prior '0 the ecqulalllon. B. Pre..rvllllon .nd MeIntenll1ce of Prop.rty; Leuehold.. Borrowor.haII no' dealro'f. damage or .ub.llInllally chang. the Proparty, aIow the Property 10 deteriorate or cornmt waste. " thl. SaJrIIy Instrument Is on B IeIIsehold, Borrower shd comply with the proYiIion:ll of the leue, and II Borrower acquires lee Utle 10 the Property, the leesehold and fee Utle shaft not merge untlthe Lender "_to the_in wrIfIng. 7. ProIeclIan of Lender'. Rights In the Prop.rty; Mortglll. Inour.nce. " Bol1'OWor laII. '0 partO"" tho covanlOls and _Ill _ad in thI5 Saourlty In.trumoo~ or 'hare I. I iogII procaadIng thai may algnlftcanlly enact Landor'. righ'. in th. Property (lUch U a proceeding In bankrup1cy. probme. for condlfTlNlUan or 10 enforce laws or regulations), 'hen Lender may do and pay lor wtWeYer II neceuary to protect the value of the Property and Len'-s rights In 1he Property. Lender's actions may Indude paying any ...". ooeIlI'lXl by I Ian which hu prior11y ovor 'hll Socur11y In.lNmooL appaarlng In court. paying ....onoblo .nomoys' I.... and .."ertng on the PruIMrtY to make repUs. Although Lender may lake action un~ paragraph 1. lender does not have to do so. Any wnounta c:hbLned by Lena under parIIgraph 1 shaD become .ddIIkmal deb' 01 Borrower secured by this Security Instrument. IJNaa ~ .,d Lender agree to other t.-rM of payment. th..e amounts .haII bear Intern1 from the dale 01 disbursement al the Nole me .m ahII M payable. whh int...... upon notk'A Irom Lend.. to Borrower requKtlng payment. J'l\6CTl (tI1'JMI ..1016l11n PqI11ol~