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200207114 THIS SECURITY INSTRUMENT combines uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to constitute a actual security instrument covering real property. UNIFORM COVENANTS. Borrower and Under covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charger, and late Charges. Borrower shall pay when due the principal Of, and interest on, the debt evidc arced by the Note and any prepayment charges and late charges due under the Note. Borrower (hall also pay funds for Escrow hems pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if my check or other instrument received by Lender as payment under the Note Or this Security Instrument is returned to Lerida unpaid, Leader 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 fors, as selected by Lender: (a) dash; (b) money order. (c) certified check, bank check, treasurer's check or cashless check, provided my such check is drawn upon an institution whuse deposits are insured by a federal agency, instrumentality, or canny; or our Electronic Funds Transfer. Payments are deemed received by Leader when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions to Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment inmtticievl to brunt' the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but lender is not obligated to apply such payments at the time soon payments are occupied. If each Periodic Payment is applied as Of its scheduled due date, then Lender aced not pay interest on unapplied Ponds. Lender may hold such roapplied funds until Borrower makes payments to bring We Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such hinds or ream them to Borrower. If not applied earlier, such Ponds will If 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 performing the cnvenans and agreements secured by this security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted cud applied by Lender shall be applied In the undoing order of priority: (a) interest due under the Note, (b) principal due under the Noe; (c) mounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it beeanne due. Any remaining staff shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender . a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount 10 pay my late charge due, the payment may be applied to the delinquent payment wud the late charge. If more than One Periodic Payment is outstanding, Lender tiny apply my payment received from Borrower to the repayment of the Periodic Payments it, and to the extent that, each payment can be paid in NIL Po the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to my late charges due. Voluntary 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 Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to [.ender on the day Periodic Payments are due under the Note, until the is paid in full, a sum (the "Funds ") to provide for payment of amounts due for. (a) trel and assessments and other items which c attain priority over this Security Instrument as lien or encmnbranceair the Property: (b) leasehold payments or ground rents on the pottery, if any, (c) premiums for any and all Insurance acquired by Lender under Section 5; and (d) Mortgage Insurance - 6GINEI moos aaye none awx Porte 3028 1/81 �e °i ly 14b �