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200303321 THIS SECURITY INSTRUMENT combiner uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any Prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or mere of the following forms, as selected by Lender- (a) cash; (b) money order; (e) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon all institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in aeeerdanee with the notice provisions in Section 15. Lender may room arty payment or partial payment if the Payment or partial payments are insufficient to bring the Loan current. Lender toy accept any payment or partial payment insufficient to bring the Lean current, without waiver of any rights hereunder or prejudice to its tights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such Payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapphcsl funds. fender may hold such compiled tends until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of tonic, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will he applied to the outstanding Principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perfornung the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this .Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority' (a) interest due under (Tic Note; (b) principal due under the Nate; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce life principal balance of die Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may he applied to the delinquent payment and the late charge. 1f more than one Periodic Payment is outstanding, Leader may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to [lie extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess ntay be applied to any late charges due. Voluntary prepayments shall he applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Perindic Payments. 3. Funds for borrow Items. Borrower shall pay to Lender on the day Periodic Payments ate due under the None, until the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts line for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lieu or encumbrance en the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) M✓ /ortgage Insurance -61NE1 moose vaae or is Form 3028 1101