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200205823 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafier a part of the property. All replacements and additions shall also be covered by this Security Instrument AI I of the foregoing is referred to in this Security Inshument as the "Property," BORROWER COVENANT'S that Borrower is lawfully seised of the estate hereby conveyed and has the right to giant and convey the Property and that the Property is unencumbered, except for encumbrances of record Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INS'I'RUMLNT comhincs uniform covenants for national use and non - uniform covenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property UNIFORM COVENANTS Borrower and Lender covenant and agree os 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. Harrower 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 more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check nr cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agcnq, 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 dcsignated by Leader in accordance with the notice provisions in Section 15- Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan content. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in Om 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 nn unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current If Borrower does not do so within a reasonable period of time, Lender shall either apply such finds or return Them to Borrower. If not applied earlier, such finds will be 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 makine payments due under the Note and this Security Instrument or performing 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 he applied in Om following order of piiorily: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it bconic due. Anv remaining amounts shall be applied first to late charges, second to any other amounts due under this Sc urily Instrument, and then to reduce the principal balance of the Nore- If Lender receives a payment frank Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge clue, the payment may be applied to the delinquent payment and the lam charge, If more than one Periodic Payment is outstanding. Lender may apply any pa)ment received front Borrower to the repayment of the Periodic Payments if, and to the extent that each payment can he paid in fall. To the extent that any excess exists after [he Paymhunt is applied to the full payment of one or more Periodic Payments, such excess may he applied to any Tate clnrges due. Voluntary prepayments shall be applied first terry 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 [tic due date, or change the amount, of the Periodic Payments. 3. funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due ender Ore Note, until the Note is paid in full, a 'sum (the "Funds ") to provide for payment of amounts clue for: (a) loxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any, (c) premiums for any and all insurance BERRdSKA- -Nrgle f amib-Fannie dlne /Freddie Mar UNIFORM INSTRPlIEN I loon 3028 1 /01 ila,3 fl >Pnge•/ oxu,xnr,x n /ie2000