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201207373 BOfZROWL+R COVL�TANL'S khat$on�oWer i�lasviuliy seisad of the est�te hexeby oonveyed u�d l�as fl�e rigl�t�to grai2t and convey the Pxoperty and thal Che Pro�acrty is uuencumUar ed, excepti for encumbrnnces of reoord, Bcirrower wsrran63 Aaid will defend generally the Eitle to the ProperLy against all claims aaid demands, subject to 1ny encuinbrancnF of rccor�l, 1 HIS SFsCURI'CY INSTRUMHNT combines uniforn�oovenants for national usc a�7d non-uniform covenants with ]imitcd vatiations by,jiirisdiction to aonsYitute a uniFoi7n secneity inelrnmenf oovering rcal property. Uniform Covenants. Borrower flnd Lencier oovennne anc{ngree as Pollows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due Che prinoipal of, and 'uiterest on, the debt evidenoed by fhe Note and at�y ptepayment eharges and lake oharges due under Che Nole. Borrowcr shall alw pay funds for Pscrow Itams pursuant to Sectiou 3. Paymante dua uuder the Note and this Seourity Inetrument shall be made in U.S, curYency, Howevcr; if any chccic or otUcr inst+vment received Uy Lender as payment under the Note or this Seourily Instrument is re6urned ro Lei�ider utrpvd, Le�ider may r�>c�uiro thak,any or sa11 subsequent pa�}nnenYs due under the Nota and Chie Security Insu•ument be made iu one or more of the Followrng fa�u�s, as selected by Lender: (a) cash; (U) money ordai; (c) certified check, bank check, treasurer's cheok or czsUicr's check, provided any sach cbeck ie��a�wn upon an institution wliose deposits �u�e ineured by n fed�rnl agency, insl�rumentality, or entity, or (d)L',lcctroilic Fun,ds Transfer. Paymonts arc deemed received Uy I,ender when received at Che looatiion designAted in the Note or al euol� othea location as may be ciesignaCeii by Lendcr in accordancc with tlie notice pinvisions hi SectYon 15. Lendei may reYurn any peymenY or paxkal payment if fhe paylnenC or p�rlill paymcntn are insnffictenE tio bring tho Loan ctiurent. Tsuder may accepti any payinent or pu�tinl pe}nnent insufE"ioient to bring the Loan ouxxent, withouC waiver of any cights hereunder 4�r prejudice to its rights to ra$isa sueh payment ox parHel payments in tlie future, but Zender is not o6lignted Co npply snch paymonts at tUe time such paymenYs�re accepted. If each Pariodio Ptiyment is applied as of its scheduled due dz�le, Ll�en Lci�der need not pay interest ov unapplied fixuds. I�ender may hold suoh miapplied funds until Boxrower malzes paymenfs to bring tUe Loan ourrc.1nC If Borrowor does not do s�within a reasonable period of time, Lender shall eiGier apply such funds or retuen them to Bocrower. If not ap�licd oar1ier, stitch fttuds will ba applied to the ouCstauding principal Ualance under the Note inunediatety prior co Poreoloeurc. No offset or claim wluoh Borrower might have now or in tl�e fiilure against Lcndcr s$a17 relieve,I3orrower froin making paymente due uuder Chc Note and this Security InsU'mnent or performing the oover��n�s zmd agrcc�monts secured by tl�is Seeurity Instr[uneni. 2. Application of Payments or Proceeds. F_,xcept as otlierwise described iu tl�is Section 2, al]payments accepted and applied by Lender shall be applied in the following order of'priority: (a)inceres[dne ui�idcr the Note; (b)principal due under the Note; (o) an7ounts due under Scotio�i 3. Such pa�yments s1�n11 be�pplied to eaoh Periodic Y�yment in the order in which it became due. Any remttining amounEs sha11 be applied firsY to late charge.s, seoond to aaiy other �mouuts due under tliis Security Ineri•ument, uid N�en Lo rcduce Uie principal UA1Auce of the Note. If Lender receivea a pnyinent fi'om Borrower fc�r a delinguenti Peiiodic Pa}nnent which ii�cludes a safficie��t aanomit to pay auy late cherge dne, the payinent v�ay be a�plicd t�the delinqueut paymant and the la[e ch�rgc. If n�ore{han one Periodic P�ymeut is ouCstTuding, Lender m2y apply�ny payme�rt received from Borrower to hhe re�ayn�ent of the]'criodic Nayments if, and Co flie axtent thet, eaeh paytnent can bc paid in full. To flie extent that nny ezceas exists afEer the paymcKit is applie$to the full payinent oP one ox more Ycriodic Yay�nents, such excess ma�y be applied to any late chargea duo, Voluntiary prepayments�shall be �pplied lirsC ta 2ny prepayment oharges and then as�described in the Note. -- zaao2osv NFARASKASInflle Familyfcnnle M aelFreddle W ac UNIFORM IN5IRUM ENT Form 50211 1101 ��P'"J VM PG(NF)(1106) Wolfere I(luwer Flnanclel Servloes Pnge 4 of 17