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201207417 BORROW�R COVLNANTS lhnL Borrower is lawfiAly seised of lhe esCato hcrcl�y amvcyed and has the right to grant and convey iha Property end thet the Property ie unencumUered, except For enouinl�rnnces oP record. Borrower warrante and will deFeud generally the titla to tha Property agaiust all claims end demande, suhject to a�ry cncuuibrances of'recard. THIS SECURITY INSTRUMENT combines uiufonn oovenanfs £or national use a�id non-uniform covenants with liii�ited vartations by jurisdictioi7 to coiisNtutc n m�iform security insrtmti�ent eovering real property. Uniform Covenants. ]3orrower and l.onder coven�urt��d agrce as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when duo Lhe principal of, and interest on, the debti ec�idenend l�y tho Noto and any prepayment oharges and lata charges due wider the Note. Borrower sha11 also pay funds For�scrow Items pmsuant to Section 3. Payments due w�der the Note and this Sectizrity lnah'mnenf s1�a11 be tnade in U.�, cnrre�icy, HoWcvar, if any chccic or othcr insh�iuncnt rcceived by Le��der as payment undor Lha Noto�ar this Sccurity I��slrument is re�tuned Co Lender impnid, Lender may require that any or all subsequenf pnymente due under the Note and this Security Imvh•unient be made in one or more of tha following foxms, ae selecteci by Lender: (a) casl�; (1�)money ordei; (c) cerEified checic, Uank check, teeaemer's check or cashier's check, provided any such check is drawn npon an itistitution whose deposits arc insural by a fcderal agency, ii�shumcntality, or eniity; or(d)L�leelronic Fimds TranePer. PaymenCs aa�e deemecl reeeiaeci by Lencler when reeeived nC the locnlion designnked in Lhe NoCe or aC sueh oYher loc�eion as may be designaYed bq Lender in�coordaixca with the notice provisions in Sectiou 15. T,ender may retuirn auy payment or paitia1 pay�nent if the pa5mient or partial payments are i��aufficient Co bring tlxc Loan currcnt. Lcnftor may accept auy payment or par6ial paynicnf innufficicnt to bring tl�e Loan cmrent, without waivex of nny rights harennder or prejuelice to its rights to refuse such payu�en[or parCial payments in the future, but Lender ia not obligaYed to apply auch payments at the time snch payments are accepted. If e�tich Periodic P�yinent is applied as of its scheduled due daCe, then Lender need not pay interest ov unapplicd funds, Lc��der inay hold sucli unapp1ied funds until 13orrower malces payinents to bring the Loan ourrent. I£Borrower does not do so wi[hin a reasou�ible periocl of(ime, Lendnr ehall either ap�ly �uch fiwde or rattiun thein to Borcower. If not applied earliar, such fwids will be applied to the ouYstanding prii�eipal ba7ar�cc under Yho Note iinmediafely prior to forcclosure. No ofFset or claun wliicl� Rorrower might hava now or in the iuture ngainet Lender sliall relieve Borrower fioin making payments due under the Note �.nd this Security Jnsh'ame�it or perfouning Uie cove�iants aud agreeme�its secured by 11ils Security Ivs[rument. 2. Application of Payments Dr Proeeeds. Nxcept as othcrwise desm�ibed in fl�is Section 2, a11 pEzyinents �oceptied and applied by Lender sh�ll be ap�lied 'v1 Che following orden'of�riorily: (tt)interest dnc�lnd�7'Uhe Note; (b)princ�ipal due uxider the Note; (c) nmounts due under Seotion 3�. Suoli pn�nene� shall be applied fo each Periodic Payinent tn Uie order in which it Ueoame due. �vry remeining amounte shall be applied firat to llle chz��gcs, �econd ta any otl�cr ainG�unts due under thi� Sccuritq Inshument, aud Uien to reduce tihe principal balance of the Note. IP Lender receives a payment from Borrower for a deliuquent Periodio PnymenC which inoludes a sufficicnt amount Co pay aaiy late charge dae, the�aymenC may Ue applied to the delinqLzent payment nnd the lete chTxgo. Ifmorc than o��o Pcriodic Pa�nont is otiitstanding, Lender inay epply any payment received from Borrower Co the rep�yinent of the Periodic Paymeiits if, and to lha ox(ent that, cach paymcnt can be paid in fu1L Ta the exte�it that miy excess e�ciats after Hie p��nent is npplied to the fiill paymenC oP one or moro Periodic Payinents, such excess ixutiy Ua applied to a�ry lata cheages due. Volcmtnry prepaymenta shall Ue applied frst to any prepaymc��t cl��rges ��u�d the�i ets described in the Note. � zaoozosa N[6RA51(A-Singlo Family-Farinle MaelF�eddio h1ac llNIFORM INSTRUIdFNT Form 3020 1/01 VMP(y VMP3(NE)(1106I WoHers Kluwer Flnanclal Sarvices Page 4 of 17