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��14�175� BORR��ER C�VENANTS �hat Borrower is la�fuli� s�ised af�he estate her�by conveyed and has the righ��o g�ant and convey the Property and that�he P�operty �s un�ncumb��ed, except far encumbrances of recard. Bo�rower war�ants and �vil� d��end ben��aliy the title �a the Prop�rt� abains�ail �Iaims and demands, �ub�ect t� any �ncumbrances of record. THIS S�CURITY INSTRU�ENT combines unif�rm c�venants for national use and nan-unifo�m cov�nan�s �ith lzmi�ed �ar�atzflns b�r�ur�sd��an to cansti�u�e a un�f�rm securit�r ins��um�nt cavering �rea1 property. Uni�orm Covenan�s, Borrowe� and Len��r covenan� and ag�ee a� fo�lows: �, Paymen� of P��nc�pal, [n�e�est, Escr�vv [��ms. Prepa�m�nt �harges, and Late Charges. Bo�ro�r�� shall pa� �vhen du� �he p�inc�pal of, and inter�s�on, the de�t ev�denced by �h� N a�e and an� p��payment charges and 1a�e charges due under the Note. Bor�rower sha�1 also pay funds �o� Escrow I�ems pur�uant to S��tion 3. P�.ymen�s due under �h� Note and �his Security Ins�rument sha11 b� made zn V.S. �u��ncy. Howe�er, �f any check o�other zns�xument �eceived by Lender a� paym�nt under �he Note or th�s S�cur�ty Inst�um ent is �e�urn�d t� L�nd�r unpaid, L�ende� m ay requ��e �ha�an� o� a�� su�sequent p aym en�s due under �h� No�e and thi� S�cur�t�r In�trument be mad� �n one or mare o��he fallow�ng f�rms, as sele��ed by Lende�: �a} cash; �b} mane� order; �c} certi�ied check, ban� chec�, txeasurer's check or cashier's �hec�, provid�d any su�h �h�ck is d�awn upfl n an insti�ution w ho se dep o si�s �r� insured b� a federa� agenc�, in�trum entalit�, o r entitiy; �r �d} E�e��on�c Funds T�ansfer. �aymen�s a�re deemed �e�e�v�d �� ender ��en r�c�i�re�. at�h� �ocation designa��d in �he Note or at such aih�r Iacat��n a� �ay be des��nate�. by Lende� �n acco�dance w�th �he notice p�ovisions in Sect�on ��. Lende�m a� �e�urn an� p a�m ent or pa�tial pa�m ent if the pa�m ent o� p artial p a�m ents a�e insuffrici�nt�a brinb the Laan cur�ent, Lende� ma� ac�ep�an� pa�ment o� par�ial pa�m�nt insu�fic��nt to b�zna the Loan cur�ent, v�ithou�warver o�any righ�s hexeun��r o� p�ejud�c� �a i�s r�gh�s to refuse such paymen�or pa�t�al pa�men�s in th� fu�u�e, bu�Lende�r i� no��Izgated �o apply such paym�n�s at the t�me such pa�ments a�e accept�d. rf each Per�odic Payment is applied as of its scheduled due dat�, �hen I�ender ne�d no�pay in�ere�� on unappl�ed fundse Lender may ho�d such una�pl�ed funds unt�� Borrow�r makes payments to b�7nb the Lean cur�e�t. I��3or�o�er does na��.� �o wxthin. a r�asonable pe�iod o��ime, Lendex shall ei�her app�� such fund� or re�u?��. �he� �o Bo��wer. �f no� app�� ea��er, su�h funds u�i11 be applied �o �he ou�standing prin�ipal balance �nder�he Note �m�.edia�ely p�ia�r t� �o�ecl�suree No o��s�t �r eia�m whzch Borrower mibht have now or i� �he �uture against Lender shal� re�ieve Ba�rowe� from making payments due under the Note an� th�s S ecu��t� �nstrum en� o r p e��rm ing �h� �ov�nants and ag�eem en�s secured by �h�s S ecuri�y Instrum en�. 2. Applica�ian o� Paymen�s or Praceeds. Except as oth�rwise descrzbed �n this S�c��on �, alI payments accepted and applied �y Lender shall be applied in the �o�Iow�ng order o�priori��r: �a} int�res�due unde� th� Na��; �b� p��nc�pa� due under�h� Note; �c} am�un�� due under 5�etion 3. Such payments sha�l b� applie� �o ea�h P erio dic P a�m en�in �he orde� in w h�eh xt b ecam e due. A ny �em a��ing am�unts �hall�e applied �irst ta �at� charges, second �o an� �th�r amounts due under thzs S�euri�y Instrumen�, and the� to ?�educe �he �rim��pal �alan�e �f the N�teo �f Lemde� �ecei�e.� a paym�n�fr�m Borr�we� �ox � �eli�q�en�Per�odic �a��en��rh�ch ��c�udes a �ufr��cie�� am oun��o pa� an� �ate charge du�, t�e p aym en�m ay �e app�ied to the �elinquen�p a�m ent and �h� �ate cha�rbe. I�more �han on� Periodic Payment is ou�stand�ng, Lender ma� app�y an� payment��c�ived �ram Bo��o��o �he r�paym�nt of�he Pe��odic Payments ��, and �o the e�te�t tha�, each paym�nt can be paid in fu�l. To the ��tent tha� any excess exists a�ter the paymen�rs app�ied to th� fu�l pa�ment flf on� or mor� P�riodic Paymen.�s, such e�cess ma� �e appl�ed to any �ate charbes due. �Toluntar� prepa�n�ents shall be app�ied first ta an� p��p�ym ent eharges and �hen as descr�bed in �he N o�e. za�ov��o uE�RASICA-Singie Farnily-�annie MaelFred�ie Itillac!i1�IFaRM I1�STF3iJMEHT �a:rri 3fl28�10� VN[P OR VN6P6[NEj�13D2j W olters Ki�w er Financia!5�rvices Page 4 af i 7