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201208123 BORROVJLR COVENANTS thaE Borrower is lawfullg seised of thc cstato hereUy conveyed end has the right to grant and convey the Property aud that tlte Property is unencim�beied, except£or eucumbruices of record. Borrower warrants and will defencl generally the title to the Property against all claiins and dcnnands, subjccC w any cncumbrauccs oP record. 'CH[S SE?CUR["PP INSTRLTML+NT combines uniforin covenants for national use and nnn-iuiifonn covenants with limited variaCions bq jurisdiction to conatitute a unifo�7n security inst�riunent oovering real property. Uniform Covenants. Borrower nnd Lendar covenaiit and agrec;as followe: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shz11 pzy whcn diie the principal of, and interest on, the deUt evidenccci by tl�e Note and pny prepaymeut charges and l�te charges due undcr fl�e Nofe. Borrower shall also pay fiuids for Bscrow itcu�s pursuanC to Section 3. Paymcnts due imcier lhe Note and this Security Tnstruinent shall bc made in U.S. cuxrency. HowEvc:r, if any check or other inshuinenf receivcd Uy Londer ae payinent tmder tha Note or this Security Inatrument is rehuned to Lender unpaid, Lender may require that auy oL all subsequent paymente due undex the Note and this Security Ir�struu�ent be made in one or more of tlie fo17owing form9, na selected by Lendar: (a) casli; (U)money order; (c) certiifieci check, Uan1c cl�ec1<, trcasurer's aheok or o�shier's check, provided any st�ch check is drawn upon au institul'ion whosc deposihs are insured by n federal agency, ineh�tiimentality, or �entity; or(d)Electronic Pw�cis 7'ransfer. Payn�enls are deemecl received by I�ender whcn received nt the locnkion designzted In the Note or a�t such other locaYion as may Ue designatcd 6y Lender in accordance wi(1i Uie notice provrsions in Seotioii 15. Lender ma�y i�ehun any payinent or paxtial payment if Uie payment or pttrlial payn7ents axe insufFicient to bring tho Loazi current. Lender may accepf airy payment or partial payment insufficienk to bring tl�e Loan curcent, withouti waiver of a�ry rigl�Ys h�n�e4mder or pxejudice t�o its rights tio rehtse such payment or par[ia1 payments in tl�e future, but Lsnder ia not oblig�ted to apply such payments at tha tiine sucli payments �te accepted. 7f cach Periodic P�yment is applied as of its schcdulod d'ue d�1te, flien Lender need not pay interest on unapplieci funds. Lender may liold sLich wiapplieci funds until Borrower malces payment�ko Uring fhe Lonu currant. If Bonower does not do so wi[hin a reasoneble period of Cime, I,ender ehall either ap�ly auch funds or retnrn thcm Lo Borrower. If not applied earlier, such funds will bc applied to Ehe oiitetnncling principal Unlance under the Note irmnediatiely prior to foredo�ure. No offset or clnim which Borrower mig6t have now or iu the fut�xre againsY Lender shall relieve Borrower froin makin�payn�ents due imder the Note anci tlus 9ecutity Inst��mnent ar performing Yhe covenwtv and agrccmcnts secured by this Seourity I�islrument. 2. Application of Payments or PYoceeds. Fxccpt as otherwise desoribed in this Seotion 2, all payments accepted and applied Uy I.cndcr shall bo applied in the following order of priority: (a) ii�tcrest duc�mder tlie Note; (U)prii�aip�l due under the NoYe; (c) w�ountis dne under Section 3. Such pnyinenta sh�ll be applied to eacl�Periodic Payment in tize a�dec in which it b��ceune due. Any remnining amounts shnll be applied first to late chnrges, second to any other amnunts due tmder this SecuriEy InsC�'ument, and tUen to redLwe the principAl balauce of tl�e NoCe. TP Lendor recaivea a payment from Borrower for a delinquont Periodic Payinent which includckc a suffcie�it ainount to pay auy lafe chtu ge due, the pnyment may be applied to the dclinquent plymeut nnd the late chargo. If more than oue Periodic Payment is oLitstanding, Lender n�ay a�ply auy pnyment received ti•om Borrower to Yhe repayinent of fl�e Veriodic YaynlenCs if, and tio the extent t1�aE, eaoh payment ca�i be paid in fu1L To Uie extent that any excess exis[s �fter the Y>ayinenti is applied to the fu11 payv�cnt oP one or more Veriodic Pzyinents, such excess may be applied to any late cha�gcs due. Volun[�ry prepaymenta shall be flpplied firat to aziy prepayinenf cl�arges ai�d Hicn as ciescribed in the Note. u 2aoozzsa N[oRA51(ASingle Family-Fannle Mae7Fretldle A4ec UNIFORM INSTRl1MENT Form 3028 1101 VM P(ry VM PB(NE}(7 f 051 Wolters Kluwer Flnanolal 3ervlees Pn9a 4 0!1 Y