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200206926 UNIFORM COVENANTS. Rorrower and Lender cio non t 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 Nom. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made m U.S. currency. However, if any check or any other instrument receiver) by Lender as payment under the Note or this Secretary Instrument is rumored to I order unpaid, Lander may require that any or all subsequent payments due under the Note and this Security Instrument be crude in one or more of the following forms, as selected by leader: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check nr cashiers check provided any such check is drawn upon an institution whose deposits are insured by n federal agency, instrumenmli y. or entire; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in [lie Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payment are insufficient to bring the Lean current. Lender may accept any payment or partial payment insufficient in bring tie Loan current, without waiver of any rights hereunder or prejudice he its rights to refuse such payment or partial payment in the fhmm, but fender is not obligated in apply such payments at fine time such payment are accepted. If each Periodic Payment is applied as of its scheduled due dam, then Lender need not pay interest on reapplied funds Lender may hold such reapplied funds until Borrower makes payments to bring fine Loan carets. If Borrower does not do so within a reasonable period of true. Lender shall either apply such Lands or return them to Borrower. If not applied earlier, such funds will be applied or 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 Now and Nis Security Instrument or performing the cnvenunw and agreements secured by [his Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section ? all payments accepted and applied by Lender shall be applied in fine following order of priority: (a) interest due under Nc Note, (b) principal due under the Note. (e) 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 the principal bahnce of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any lam charge due, the payment may be applied to the delinquent payment and the Tate charge. If more than one Periodic Payment is umsUmiling, I.crown aruy apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in bill. To the extent that any excesa exist after the payment is applied to the bill payment of one or more Periodic Payments, such excess may be applied to any base charges due. Volumary prepayments shall be 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 Nate shall not "tend or postpone me due date, or change due amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payment are due under the Note, until the Nom is paid in full, a sum (the "Funds') to provide for payment of amounts due for: (a) tuxes and assessments and ether items which can union priority over this Security Instrument as a lien or niturimmare on the provers; (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) Mortgage Insurance Premiums, if tiny, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in cerdancc with the provisions of Section lo. These items are called "Escrow Items." At origination or at any time during the term of the Limn, larder may require that Community Association Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments ehnll be an F crow Item. l3mrowu shall promptly furnish to lender all notices of amounts to be paid under this Section_ Initials'. ��TT L Ix a9k fi(Nf) iwot Pagc4 of 15 Fono 3028 1 01