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201201012 BORROWER COVENANTS thaC Borrower is fawfully seised of tlie est�2te hcxcby conveyed and lias fhe right to g�ant and c:onvey Ihe 1'roperty and tliat tlie Property is unencumbered, except for encumbrances of xecord. Borrower warrants and will dePend generally the title to thc Property against all claims and demands, subjec�fo ang cncumbranees of rewcd. THIS SECUItI'fY INSTRUMENT combines wiiform covonanCs for national use 1ud non-uniform covenants wiCh lin�itcd variations by jurisdiction to constituCe a uniform sacuriry insCrument oovexing real propertq, Uniform CovenanYs. Bnrrower and Lender covenant and agree as Follnws: 7. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Rorrower shall pay when due Y1�e principal of, and iuterest on, the daht evidenced by the Note and any prepaymenr cliarges and late chai�ges due under the NoCe. Borrowec shall also pay Punds for Eserow ICams pursuant to Section 3. Payn�enls dua under the Note and [his Security lnstrument shall be made in U.S. currency. However, if any check or other instrument received by I„ender as payment under tiie Note or this Security InstrumenC is returned to Leuder unpaid, Lender may require tha[1ny or 211 subsequenl payments due under the Note and Yhis Security Instrumcnl be made it� one or more of the following forms, as selecYed by Lender: (aj cash; (U) money order; (c) cerCified cheek, hank chack, treasurer's chcek or cashier's clleek, pcovided any suoh check is drawrr upon an instiritYion whose de�aosits az'e insurcd by a federal ageney, instrunientality, or entity; or(d) Electronie Funds Trauisfec. P<�yinents axe dcemed received by Lender when received at thc location designated in the Note or aC such other IocaCion as may he designatad by Lender in accordance with Che notice provisions in Sccl'ion 15. Leoder may ret�trn any payment or partial paymenC if the paymenY or partial paynients are insufFioient t� bring Yhe Low current. Lender ivay accept any payment or partial payment iiisufficient to bring Yl�e Loan current, without waiver of any righCS hereunder or prejudice to its rights to rePuse such paymevt or partial payments 3n the futucc, but Lender ie noC oblignted Co appIy such payments at the eime sucli payments arc acceptccl. IP each Periodie Payment is applied as of its scheduled due daCe, then Lender need not pay interesC on unapplied funds. I,endar may hold such unapplied funds undl Borrpwer makes payments Co bring the Loan eurrent. If Borrower does �iot do so wil'hin a reasoi�able period of tiine, Lender shall eidier apply sucl� fitnds or return them to Boirower. PP not applied earlier, sucli funds wlll be applied to the outsYanding principal bala�cc under the Nc�te immediately prior to Yoreclosuea No oPFaet or claim which Borrowcr might have now or in the futare ngainst LendeT shall relieve Borrower from making payments due wider Che Note and [fiis Security Instrumcnt or performing the wvenants and agrecmenCs secured by Cliis Securiry Instrument. 2. Application of Payments or Proceeds. L+xcept as �therwise dcscribed in this Section 2, nll payments accepled ancl applied by Leoder shall be applied in the following order of priority: (a) interest duc under the NoCe; (b) principal due under the Note; (c) am�uuts due under SeeCion 3..Suc1�paynzents shall be appliecl to each Periodic Paymeirt In the order in which il became due, Any remaining amounts shall ba applied first to laee chaiges, second to any other amounts due under tliis Securiry Instrument, and then to reduce tlie principal balance oY the Nofe. If Lender ieceives a ptryn�ent from Borrower forl delinquent Periodic Payment which includes a suft'icient ainount to pay any late charge due, Che payment may be applied Co the delinquent payment and ehc lafe eharge. PP more than one Peripdic Payment is outstanding, Lender may apply any payiizent rcceived from Borrower to the repayment of the Periodic Payments if, and to the extent tlixt, each payment can be paid ii� full, To the extent tlinc Rny excess e�tists aPCer lhe paymenC is applied to the full paymenC of one ar more Periodie Payments, sucl� excess may be ap(�lied to any late charges due. VolunCary prepayments sllnit be applied f3rst ro any prepaqment charges and then 2s described in Che Note, 24000232 NF9FA51(A�Single f-amity-Fannle Mee/Retldie Mac UNIFOHM INS'fRUMENT Fotm 3028 1f01 VMP u0 VMPBME)�11061 Wol[ere Klmve�FNenclal Servlr,os Pago 4 oi 1]