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200207076
<br />USILI O2M COVFNAN IS_ Borrower and Len hir covenant and agree as [()]lows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
<br />Renewer doll pay when due the principal of, and merge on, the debt evidenced by the Note and any
<br />prepayment ehargoe and late charges due undo- the Note. Borower shall also pay Ponds Por FScrnw Items
<br />pursuant to Section 3. Payments due under the Note and This Security Instrument shall be made in IJ.S.
<br />contact. However, if any check To any other instrument received by Lender as payment under the Vote or
<br />this Security Instrument is retained m Leader unpaid, Leader may require that any or all subsequent peyn¢nts
<br />due under the Note and this Security Iestmmeat be made in one or inure of the f Ilo"Ing fonts, as selected by
<br />Lender (a) cash. (IN money order, (e) spirited check, bank check, treasurers check or eaeltefs check
<br />provided any such check is drawn upon in institution whose deposits are maured by a federal agency,
<br />Insmtmentality, or Cohly, or Idt Llectroaie Fends Transfer.
<br />Puyrnents am deemed received by Lender when accrued at the location deaignated in the Note or at
<br />such other location as may be designated by Lender in accordance with the Taint provisions in Section 15.
<br />Lender may whim any payee() is partial payment it tie payment or Partial payment are insufficient to bong
<br />the Loan current. Leader may accept any, payment or partial payment insaffinind to bring the Loan current,
<br />without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payment in
<br />the future, but Lender is not attracted to apply such payments at the little such payments are accepted. If each
<br />Pa iodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unipplied funds_
<br />Lender may hold suds reapplied Ponds until borrower makes payments ro bring he Loan current IfIi own
<br />does not do sa within a reasonable period of time, Lender shall either apply such funds or return them to
<br />Borrower_ If rim applied earlier, such Ponds will he applied to the omswnding ptirncipal balance mndm the Note
<br />IT leennaIV prior to Free lwure. No of For or claim which Harrower might love now or in the future against
<br />Lender shall relieve Borrower from making payments due under the Note and rids Security Instrument or
<br />perfumtine the covenants and agreements secured by this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise de -mresed in this Section 2, all
<br />payments accepted and applied by Lender shall be applied in the following order of priority ; (a) interest due
<br />under the Abtq (b) principal due under the Note,, (c) pointers duo under Section 3. Such payments sball be
<br />applied m each Periodic Payment in the order in which it became due. Any remaining amounts shall be
<br />applied first In Isle charger, second to any other amounts due under this Serpens Instrument. and then to
<br />reduce the principal balance ofthe Nee
<br />If Lender receives a payment Sort Borrower for a delinquent Periodic Payment which includes a
<br />SaUIlIvTu amount to pay any late charge due, the payment may he applied to the delinquent payment and the
<br />late clorya If more Than one Periodic Payment is outstanding, Lender may apply Try payment received firm
<br />Borrower to the repayment of tiro Periodic Payments i1; nation the extort Iva, each payment can be paid in hill.
<br />To the extant that any excess exists after the payment is applied to the full payment of one or more Penodic
<br />Poyrnents, such excess ilia) be applied to any late charges due. Volunory prepayments shall be applied first to
<br />any prepayment charges and then as &aeribed in the Note,
<br />Any n application of pai sin, innocence proceeds, or Miscellaneous Proceeds m principal due under
<br />the Note shall not k%rend or postpone the due date, or change the amount of the Periodic Payments,
<br />3. Funds for Escrow Items. Renewer Shall pay to Icader on the day Periodic Payments are due
<br />underthe Nou, until [be Note is paid in full, a stun (the If unds' ) to provide for payment of amounts due for
<br />(a) taxes and assessments and other treat, which can attain priority over this Security Instrument as a Iran nr
<br />rotators ance on rite Property, (b) leasehold payeants or ground rents on the Property, if any; (c) premiums for
<br />any and all insmmnce requhed by Lender under Section 5; and (d) Mortgage literature pans {rims, it any. or
<br />any urn, payable by Borrower to Leader in lieu of the pyment of Mortgage Insensate prcmi To
<br />accordance with the pevis'mns o[Section 10 . those interns arc called "Escrow home.' At on_tinaton or a[anv
<br />[line dining the term of the Lean, Lender troy rrquim that Clenununity Association Dues, fees and
<br />Assessment;, if any, be escrowed by Barrowet, and such dues, fees and assessments shall be an Escrow Item.
<br />Petrucci shall promptly furnish to Lender all ounces ofamounn to be paid under due Section.
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