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201207384 EORROWER COVENAIVTS that Borrower is iawfully seised of the estate hereby conveyed and has the right fo gant and convey the Property�nd that the Proper€}�is uneneurnbered, except for enc�brances of iecord Borrower warrants and will defend generally the title to fhe Property against all clauns and demands, subject to any encuvibrauces ofrecord. � THIS SECORITY INSTRUMENT combines unifornl coveuants fox national use and non-nnifonn covenants with 1'vnited variations by jurisdiction to constitute a unifonn security instrument co�ering rzal property. Uneform Covenants. Borrower and Lender covena.nt and agree as follows: 9. Payment ofi Principal, interest, Escrow ftems, Prepayment Chazges, and Lafe Charges. Borrower shaIl pay�✓hen due the�incipal oi, and interest on, the debt evidencad by the Note and anyprepayment chazges and late charges duc Lmder the Note. Bonower shall,also pay i"unds for Escrow Items pursuanf to Section 3. Payments due under the Note and this Securiry Instrument shall be made in U.S. currency. However, if any check or other instnunent received by Lender as payineat under the Note or Lhis Security Instrument is retumed to Lendzr unpaid, Lender may require that any or all subsequent payments due under the Note and this Sc�urity Instrument be made in one or more of the following foxme, as selected by Lender: (a) cash; (b)money order; (c) pertified check, bank c�eck, tceas2uer's check or cashier's check, pxovided any such check is drawn upon an inslitution whase deposits are insured by a fedaal agency, ins�7umenfality, or entity; or�d) Electronic Funds Tzansfer. Payments arc dwmcd received by Lender when received at the location designated ui ihe Note or at such other location as may be designated by Lender in accordance with.the notice provisions in Section i5. T,ender may return any payment ox partial paymexit if the paymenT oz paztial payments aze insufficient to bring the Loan current. Lendes may accepi any payinent or partial payment insuf&cient to bring lhe Loxu current, without waiver of any rights hereunder ox prejudice to its riglits to refuse such payuient or paztial paqments in the future, but Lender is not oUligated fo apply such paymen4s at the time such paywents are accepted. If each Periodic Pa}anent is applied as of its scheduled due date, then Lender need not pay interest on unayylied funds. Lender may hold such unapplied funds until Boaower makes pa}nnents to bring the Loan cuffent. If Borrower does not do so within a xeasonable period of time, I.ender shall either apply such fuuds or return themta Boirower. If not applied earIier, sL�ch funds will be appHed to the outstanding principal balance under the Noie immediately prior to fpreciosure. No offset or claim which Borrower might have now or in the future against Lendcr sfiall relieve Borrocver from making payments due under thc Nnte azid this Security Instrument or performing the covenants and agreements secuxed by Ylus Security Instruuien[. 2. Application of Payments or Proceeds. Exce�t as othenvise described in this Section 2, all paymeirts acceyted and applied 6y Leudcr shall be applied iu t7ae following order of priorily: (a) Interest due under the Note; (b) principal due under the Note, (c) amounts due under Seclion�. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any reinaining amounts shall be applied fust to laie chargcs, second to any othec amounts due nnder tlais 8ecllrity Instttun�hit, and then tc ree3uce fhe principal baiance of the Note. If Lender receives a pa5�uent frov2 Borrower for a ciclinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be a�plied to thc delinquent payment and the Iate charge. If�nore than ouue Perioclic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if. and to the extznt that; each payment can be paid in full. To f.he extent tha#any excegs exists after the payznent is applied to the full paymcnt of one or more Periodic Payments, such excess may bc applied to any late eharges du.e. Voluntary prepa�nents shall be applied first to any prepa5went chazges and then as described in rhe N�te. zaoozaa� NFBR45KF-Single Famify-'ran�ie M xe�Freddie A1 ac UNIFORM INSTRO�id ENT Porm 3028'I IC i VM P� VM P6(NE)(i�05 VJoltexs Klu'u er Fnanci'el Services ?aoe 4 af 1]