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201206261 EORROWL�R COV�NANTS that Borrower is lawfu(ly seised of the esYate hereUy eoirveyed and htie tkic righl' to grant aud coirvey tl�e Praperry xnd that the�Proporly is unencumbered, except far encumbr�mces of r¢cord. Borrower warrtmts and will dcPend generally the title to ehe Property ngainst all claims and demands, subjact to any encumbranccs of record. THIS SECUIZITY 1NSTRUMENT combines tmiform covennnYs for iintioilttl use aud non-uniform covenants witl� limil'cd va�-iations by jurisdiction to constitute a uniform eeeuriky instrumenC oovering real property. Uniform Covenants. Borrower and Lender eovenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sl�all pay when clue Ci�e principal of, and intecest on, [he debt evidenc;cd by the Nohe and any prepaymeut charg�es and late el�arges due uuder Che Note, Bocrower shall also pay funds for Escrow Iteme parsti�ant to Section 3, Paymei�ts due under Che NoCe and this 5ecuriYy InsCrument sl�Fill l�e made in U.S, currency, IIowever, if any check or other instrument received by Lender as payment under fhe Note or this Security Instrun�cnt is relurned to Lender unpaid, Lei�der may recCuiro that any or all subsequent payments diie ui�der �he Note and this Secuciry Insh•ument be made ii� o�e or more of the following formg, as selected by Lander: (a) eash; (U) monay ordei; (c)certiYied check, bank,ettecl<, treasurer's clieck or cashier's chc¢k, provided aizy such cheuk is diawn upon an insti[ution whose deposiCs are insured by a Yedcral agency�, instrumentnlity, or enLily; or (d}Nlectronic Funds Trausfec. Payments are dcemod received by Lender wlien received at the loca�ion designated in the Note or at such othor locaCion as n�ay be designaCed by Lender in accordxnce wiCh Che noCice pt'ovisions in SecCion 15. Lender may return any payment or pnrtial paymeut if the paymen[or partial payments are insuft�cienC to bring tlie Loan eurrent. Lender may acc el�t a�iy p�yment or partial payment insufficient to bring the Loan cw•renC, without waiver of any rights hercunder ar prejudice Yo its rights to refuse such payn�enC or partial payments in [he future, but Lcnder is noC obligated Yo apply sucl�p2ymeilts xt the time such paymenCs are accepted. If each Periodic Payment is applied as of iYs scheduled due date, then Lender need noC pay ii�terest on unappl3ed lunds. Lender may liold such imapplied funds until Borrower maI<es pay�nents to Uring the Loan current. If Borrower does not do so witliin a reasonable period oP Cime, Lender ahall eidiee apply such funds or return theni to Borrower. 1P noC applied earlier, such fimds will be applied to the ouCsfanding �rincipx] btilance under Che Note immediately �rior to foreclosure. No offscC or claim which Borrower might have now or in tlie future against Lender sliall rclieve Rorrower from making payments dae uoder l'he Note and tliis Security Instruii�ent or perforn�ing Che covenanCs a��d agreements secured by this SccuriCy H7strument. 2. Applieation of Payments or Proceeds. Nxcept as otherwise described in this Sectioti 2, all payinants accepted and applied by L,ender shall be appLied in Che following orcler of'prioriry: (a) inCerest due under die Note; �(b) principal due ttnder the Note; (o) amounts due under SecClon 3. Such payments shall be np�alied to eacl�Periodic PaymenC in tlxe order in wl�ich it became due. Any remaining amounts s1�211 be applied first Co L�Ye charges, second to any other a�7ounts dac under this Secw'ity Instivment, nnd U1eii to recluce Cha priiloipal balance oY thc Nofe. If Lender receives a payu�enC Crom Borrower for a delinquent Periodic P�rymenc which includes a sufficient amount to pay any late cha��ge due, Che payment m1y ve al�plied to Che dclinquent paymenC and tlie late charge. Pf more than one Periodie Payment is outyta�zding, Lci�der may apply any payment received from 13orcower to the repayment of the Periodic Payments rf, and to the exCent ChaC, eacl� payment can be paid in full. To the exCent tliat any excess exists after the payment is applied Yo Yhe fnll payment of one or morc Periodic Payments, such exoess may be applied to any late eharges due, Voluirtary prepaymenfs shall be appliec( first to xny prcpayment eharges ancl Clien as deseriUed in the Note. 2A001593 NE6RASI(A-S'mgle Famlty-Fannie MaelFre�die Mec UMFORM INSI'HUMENT Porm�026 V01 VMP(n� ViViFSINtI U 106� Wolters Kluwar Flnonolnl Sorv�can Pepn Nnf 19