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MAR -14 -2003 FRI 0145 PM WELLS FARGO HOME MTG FAX NO. 4025362983 P. 13 <br />200303116 <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and nan•unifomm <br />covenants with limit:d variations by jurisdiction to constitute a uniform security instrument covering real <br />property. <br />UNIFORM COVENANTS. Borrower and Lender covcmam and agree as follows: <br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. <br />Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any <br />prepayment charges :end late charges due under the Note. Borrower shall also pay funds for Escrow Items <br />pursuant to Section :.. Payments due under the Note and this Security Instrument shall be made in U.S. <br />currency. However, if any check or other instrument received by Lender as payment under the Note or this <br />Security Instrument is returned to Lender unpaid, Lender they require that soy or all subsequent payments <br />due under the Note and this Security Instrument be made in one or more of the following forms, as <br />selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or <br />cashier's check, prodded any such check is drawn upon an institution whose deposits are insured by a <br />federal agency, rosin mentality, or entity; or (d) Electronic Funds Transfer. <br />Payments are dt cured received by Lender when received at the location designated in the Note or at <br />such other location at may be designated by Lender in accordance with the notice provisions in Section 15. <br />Lender may return any payment or partial payment if the payment or partial payments are insufficient to <br />bring the Loan currn¢. lender may accept my payment or partial payment insufficient to bring the Loan <br />current, without waiver of any rights hereunder or prejudice m its rights to refuse such payment or partial <br />payments in the futur, but Lender is not obligated to apply such payments at the time such payments are <br />accepted. If each Periodic Payment is applied as of its scheduled due date, men Lender need not pay <br />interest on urapplied funds. Leader may hold such unapplied funds until Burrower makes payments m <br />bring the Loan current. If Borrower does not do so within a reasonable period of time, !.ender shall either <br />apply such funds or return them to Borrower. If not applied earlier, such fiends will be applied to the <br />outstanding principal balance under rile Note immediately prior to foreclosure. No offset or claim which <br />Borrower might have now or in the future against Lender shall relieve Borrower from making payments <br />due under the Note aid this Security Instrument or performing the covenants and agreements secured by <br />this Security Insttume t[. <br />2. Appllemiom of Payments or Proceeds. Except as otherwise described in this Section 2, all <br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest <br />due under the Note; (b) principal due under the Note: (c) amounts due under Section 3. Such payments <br />shall be applied to each Periodic payment in the order in which it became due. Any remaining amounts <br />shall be applied first D late charges, second to my other amounts due under this Security Instrument, and <br />then to reduce die prim cipal balance of the Note. <br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a <br />sufficient amount to pay my late charge due, the payment may be applied to the delinquent payment and <br />the late charge. If mor: than one Periodic Payment is outstanding, Leader may apply my payment received <br />from Borrower to the repayment of the Periodic Payments if, and to the extent Nat, each payment can he <br />paid in full. To the ex ent that any excess exists aft" the payment is applied ro the full payment of one or <br />more Periodic payments, such excess may be applied to any late charges due. Voluntary prepayments shall <br />be applied first to any repayment charges and then w described in the Note. <br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under <br />the Note shall no[ ex[erd or postpone the due date, or change the amount, of the Periodic Payments. <br />3. fiends for Eamow Items. Harrower shall pay to Lender on the day Periodic Payments are due <br />under the Note, =[it t re Note is paid in full, a sum (the "Funds ") to provide for payment of amounts due <br />for: (a) taxes and arse: smam and other items which can attain priority over this Security Instrument as a <br />lien or encumbrance o,, the Property; (b) leasehold payments or ground rents on the Property, if my; (c) <br />premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance <br />rams.:, <br />61NE1 i000si >.o, a a 11 Form 3026 1101 <br />