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201201749 BORROW�R COVFsNANTS that Ron'ower is lawlully seiscd �f thc estatc hcrcby conveyed xnd has tl�e right to graut aod convey fhe ProperCy and Ihat ll�e Yroperty is unencumbered, excepl for encun��branccs of record. Ro��cower warra�its and will defend generally the titic Co the Properly againat all clairns and deman�ls, subjecC to any encumbrances of record. THIS SL�CURITY INSTRUMSNT combines uniform covena�ts for nationa] use nncl non-iuiifm�m covenauts witli limited variations by jurisdiction to coiLStituCe a ufiiform seeurity instrumeut covering�real progeity. Unifonn CovenanYs. Borrower and Leuder covenant and agree as tollows: 1. PaymenY of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges, IInrrow�cr shall pay wl�en due the principa] o�P, u�d ii�Yerest nn, flie clebt evidei�eecl by the Noee vid nny prepayine�it el�arg�es and]ate charges due under the NoCe. Rorrower sliall also pay fuizds for Rscrow Items pursuant to Section 3. Paytnents due under tl�e Note aild Chls Security Listrument shall be made in U.S. currency. Howcver, if any eheck or other instrumei�t received by Lei�der as payment ui�der t6e Note or this Security � Tnstnxment is i�eturned to I.ender unpaid, Lender may require lhat any or a1L subseqaent paymenCs di.ie under tlie Note aud tlxis Security Instrumem be made in oue or more of the following forms, as selected by Lender: (a) cash; (b)money order; (c} certified cl�eck, bank check, Creasiu�er's clieck or casl�ier's check, provided any sucl�checic is dr�iwn upon an ins[itution whose deposiCs are insured by a federa] ageilcy, lilstrumentality, or entity; or (d) Electronic Punds Transfer. Payments �re deemed received by Lender when received at the locatiou desigi�ated in the Noee�r at sucli other loeation as may be designated Uy Lender in accordance wiYh the notice provisions ii1 Section 15. Lendar may ietl�rn any paymenl or putial paynTent if the payment or partial 13ayments are insuffieient Go bring the Loan currenC. Lender may accepC any paymcnt or parfial paymcnt insufficlenC m bring the Loan current, without waiver of any rights Uereunder or prejudice fo its rights to refiise sucl�payment or partial payments in the future, but I,ender is �1ot obligated ho apply such payments at tl�e time such paymenta arc accepted. If e�ach Periodic Payment is applied as af iCS scheduled dne date, then Lender need not pay interest on unapplied funds. Lender may l�old suoh unapplied funds unfil Borrower makes paymevts to bring die Loan current. IY Borrower does not da so wiChin a reaso�iable period of ti�ne, ,Lender shall eitlier apply suel� funds or retarn them to Bociower. If not�ap��lied earlier, such Cimds wil]be applied to Yhe ouestnncling principa]balance under the Note immediately prior to Poreclosure. No pffset or cl2im wlnch Borrowce might have now or in Che'future against I,ender shall relieva Borrower from making payments due under tl�e Note aud tliis�Security T�zstrmnent or performiixg,Che cpvenants and agreeu7ents sacured l�y this Security Insta•ument. ' 2. Application of Payments or Proceeds. L+xcept as otherwise described in tl�is 5ecdon 2, all payments aceepYed aud a�plied by Lender shall be appliecl in the folCowi»g order of priority: (a} inlerest clue undar I.ho NnCe; (b) principal due under the NoCe; (c) amounts due under Section 3. Such payments sl�all be�applied to each Periodin Payment iir tl�e order in whict� it became due, Any reniaining an�ounts shall b¢ applicd firsc tu ]atc charges, sccond to any other a�nounts due under Chis Security Inshument, and then to reduce Che principal 6alance of the Note. If'Lender receives a pa�a�lent from Borrower for a deliiiquent Periodic Payment whicl� includes a sufficienc amount Co pay any Ia�e chuge due, the payment may be applied to the delinquent payment and the late cl�arge. If more than one Periodic Pnyment is oirtstanding, Lei�dec may apply any payment reeeived from Borrower to tl�e repaymenC of the Peciodic Payments if, and Co thc extcnt ef�at, each payment can be paid in full. To ihc extenl[hat any excess exists after the payment is applied to Che full payment of one or�iiore Periodic Paymcnts, such excess ntay be ap�lied to any late charges due. VolunCary piepay�nei�ts shall be applied firsY to any prepayinent cl�arges and then as desr,ribed in the Note. 2COOOh96 NF3PAil<A-Sin81e Family-Fnnnie�Mae.IRedtlie Mac t1NIFOPM INSTBUMENT form 90281/01 VMP� VMPE�Nl111105) Wd[ers Kluwer Finenclel 6ervicea Pnge 4 of 1]