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201209036 B�IZROWLR COVI3NANT5 lhat Borxower is lawfully seised of the ostate hereby conveyed and has tlie right to grnnt and convey the Propea�ty and that Che Ptoperty ie unencumbered, except for eucwnbrances of record. Borcower warrank� a�xd will defend ge��crally thc titic to thc Pr�perty against all claims and demands, subjecC to airy encumbranccs oP recnrd. THIS SECURITY lNS`CRUM7;N"I' cnnflainea Lu�iiorui covennnts foT nafional use and non-uniform covenente with limitecl variarions by jixrisdicUion to conslitute a uniform seeuiity inatrument covering real pcoperty. Unlform CovenaYlts. Borrower and Lendcr covenanC and agree as follows: 7. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sha11 pay whcn duo fl�e princi�al of, nnd interest on, the debt evidenoed l�g the NoYe and any piepa}mient charges�nd late charges due under t1re Note. Borrawcr sl�el] also puy funds for Lacirow Iteins�ursuant to Section 3. Payments duc undrn the Nol�and tlus SeeueiCy Iust�ument shall be mnde in U.S. currency. Howcver, if az�y oheck or other instt•ument reeeived by Lendar as paymant under the Note or tliis Security Insh�umeut is returned to Lender wipaid, Lender may require Yl�at a�iy o�•a11 suUsez�L�cnt pa}nncnts due under the NoYe and tliis Seourily IvsUument be inacic in onc or more of fhe following forv�a, ns seleoted by Lender: (a) cash; (U) money order; (c) ocrEitied cheok, bank check, treasurer's check or cnahier's check, proeided zuy such checic in drawn upon�u inaLituLion whose deposits are ineured by a faderal agency, insYrtunentality, or entity; or(d)Eleciroiuc Pune1s TransPer. PayinenCs are deemed reoeived by Lender when received at tha locatioii designated in the Note or at suoh oYher loctttion as may be da5ignated by I,ender in accordauco wifh the notice provision�in Section 15. Lender may return any payment or�Aarfial paymenC if ihe pnym€n[or partial payments axe inetifficient to briug che Lozn currenl. Lender may eccept fluy peymenY or partial payment insu'Fficient Yo briag the Loan ctu•rent, �vithoat waiver of any rights herewider or prejudice to its rights to refitse sucl� payment or partial pa�yinents in the future, but Lende�'is not obligatc;d to apply such��ayn�enfs at the Cime sucl�i payments are mccepted. if each Period'rc Payn�ent ie ap�lied as oP its schecluled due dake, then Lender need not pny interest on wiapplied funds. Lender may hold such unapplied fimds uutil Borrower makes paymeirte to briug the Lovi curreut. If Borrower does not do so witlun a reasonable periad of tiiine, Lender sl�all either apply sucl� funds or return tihein to Boirowar. 7f not app1ied earlier, sucl�fimds will be 2pplicd to tho ouYstauding prinoipnl Ualance undcr tltc Notc imuYediaCely prior Co foreclosuxe. No offset or clnim w}uch Borrowex might h�ve now or in the fuhva against Lender shall relieva�l3orrower from malcing pagments dne anfter th�Note end this Sccurity Instnunent or porforming Pl�e coventuYCs nnci agreeinentr secured bq Chis Seauri[y 1118�P11ll1CI1�. 2. Applieation of Payments op Proceeds. Excepf as otherwise described in thie Section 2, all payments nccepted nnd applied by Lender sha11 ba applied in the followiug order of prioridy: (a) interesi due timder tha Nofe; (U)principal due midec the Note; (c) a�nounts due Lmder Section 3. Sueh payments eha11 Ue dpplied to ea�ch Periodic Yayment in the ardcr ii1 whieh it bccai�7c duc. Any re�maining amont�fs shall be applied CrsC to lato charges, eecond to �ny olher amounts due uuder this Security Instrumenf, sard tlien Co reduce ttte principnl bnlnnce of the Note. If Lender receives a payuient from Borrower for a delinqueuC Periodic P�yment which includes a sufficieut ainotimt to pay any late cl�arga due, the pa5nnent may be applied tD thc delinc�uent pa�ntent and tho 1ate chazge. If innorc 4han one Periodie PnynienC is outstanding, Lender may apply nny�ayinenC reeeived fxom Bonrower to the repaymenY of the Periodic Paymeuts if, aud to tlie exteut that, each payment can be paid in fitll. To tihe �ctent that any exoess ex�sts aftei the payment ia sUplied to the full paymeut of one or more Periodic Payments, such cxccss may l�o applied Lo�ny lale charges due. Voluntary prcpa�incnCs shalT bo applied GreC Cp any�repaymenC clivgas and then es described in khe NoCe, snoozsoo NEBIWSICA-Sin91e Family-Fannle A7aelFYoddic Mac IJMFORM INSTRUMGNT Porm 30?.0 ll01 VMP Q VMPfi(NE�{71061 WOI�eYs Kluwa�Flnanclal Servicea Pege 4 0l 17