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200302633
<br />'PHIS SECURITY INS 'I RLMENT combines uniform covenants for national use and non - uniform
<br />covcnams wrth limited vadauons by till sdictioca to constitute a uniform security instrument covering real
<br />propcm
<br />UNIFORh4 COVGNANIS. Borrower and I ender covenant and agreeas follows:
<br />I. Puymcnt of Plincipm. Interest. ES,Tovv perms, Prepayment Charges, and Late Charges.
<br />Ron'omcr shall pay when this the principal Of trod interest on, the debt evidenced by the Note and any
<br />prepavnamt Charges and laic charges due uuder the Note. Borrower shall also pay funds for Escrow Items
<br />pursuaul to Section 3. Payments due under dw Note and this Security Instrument shall be made in U.S.
<br />Currency. However, if any check or oWcr instrument received by Lender as payment under the Note or this
<br />Security Invntmcut is return to Lender unpaid, Lender may require that any or all subsequent payments
<br />(lee under the Noic and [his Security Instrument be made in one or more of the following forms, as
<br />selected by landcr: (a) cash: (b) money order, (c) certified check, bank check, treasurer's check or
<br />cashier's (hook, provided anv such check is drawn upon an institution whose deposits are insured by a
<br />federal uIclm, instmmentafin', . or entity, or (dl Llectmnic Funds Transfer.
<br />Paymcros arc deemed iccdved by Lander when received at the location designated in the Note or at
<br />such other laralion is may be dcSIIaluCd Its Lsodci in accordance with the notice provisions in Section 15.
<br />Lander mac mmrn any pavmaa or panial pay nent it the payment or partial payments are insufficient to
<br />hriag the LO.ut ourrcut. Lcndcr may accept am payment or partial payment insufficient to bring the Loan
<br />,III cut. without waiver or ant, rights hemunder or prejudice to its rights to refuse such payment or partial
<br />)aymcnu in the fumfC. her LCnd,r is not oblu, ed to apply such payments at the time such payments are
<br />accepted. If cash Periodic Panncnt is applied us of its scheduled due date, then Lender need not pay
<br />interest on unupplicd funds_ Lcndcr may hold such reapplied funds until Borrower makes payments to
<br />bring the Loan cement. If B01 OV Cr does not do so within a reasonable period of time, Lender shall either
<br />apply xtoh imtds or rcmrn than to Burrower. If not applicd earlier, such funds will be applied to the
<br />ootstaudiup principal hzlauCC under the Note I nmccliately prior to foreclosure. No offset or claim which
<br />Roiroww 1s2111 have now or iu the luluic IuI : i st Lcndcr shall relieve Borrower from making payments
<br />file under the Not, :rod this Se -,:u rity InstituncI or performing the covenants and agreements secured by
<br />Ibis.Sccum, Innirumcm.
<br />3. Application of Payments or Ittoccu ls. Except as otherwise described in this Section 2, all
<br />paymens ar(epmd and upphcd by Lender shall be applicd in the following order of priority: (a) interest
<br />due uuder the Note; (hl principal due under 11 c Note: (c) amounts due under Section 3. Such payments
<br />111,111 be applied to each Periodic Payment in the order in which it became due. Any remaining amounts
<br />droll be applicol first to late '11 al second m any other amounts due under this Security Instrument, and
<br />then to md tic c the principal balance of the Note.
<br />11 Isndcr receives a payment ham Bornowcr for a delinquent Periodic Payment which includes a
<br />wrficicul amount to pay any late charge due, the payment may be applied to the delinquent payment and
<br />tlm late charec. If more than one Periodic Paym,nl is outstanding, Lender may apply any payment received
<br />trout r3o,omcr to the repayment of the Periodic Payments if, and to the extent that, each payment can be
<br />paid in Iup to the extent that any excess exist, afmr the payment is applied to the full payment of one or
<br />more P,rind:' I'atmems_ Such 'sacs may h, ap plicd to any late charges due. Voluntary prepayments shall
<br />be applied 111, n any prepavmcul charges tad en its described in the Note.
<br />Al, eppliaa.nn nt payments. insurwce I nmde_ or Miscellaneous Proceeds to principal due under
<br />the Now shat not ,xlcud or postpone the due date, or clinage the amount, of the Periodic Payments.
<br />3. Food, far Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
<br />under dtc Nom, until the Not, in paid in full, stun (the "Funds ") to provide for payment of amounts due
<br />ou: QO macs tad assessments and other items hich e'.m attain priority over this Security Instrument as a
<br />lien or uu(rortbrancc on the Property: I1)1 ICIS111"ld payments or ground rents on the Property, if any; (c)
<br />premiums Gtr any and all !rsurancv myuired Iry Laidcr under Section 5; and (d) Mortgage Insurance
<br />M ,(
<br />la� 61NE) r 15 Form 3028 1/01
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