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200207183 THIS SFCURITV INSTRUMENT mmbinm uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to eoustimm a unifbnn 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. IWfruwer 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 Incident to Section 3. Payments due under the Note and this Security Instrument shall he made in U. S. currency . Ilowwor, if my check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender nwy require that my or all subsequent payments due under the Note and this Secuity Instrument be made in one or mom of the following to=, as selerea] by Leader: (u) cash; (b) money order; (e) certified check, bank check, treanurei s check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Lieetrome Funds Transfer. Farmers are deemed received by Leader when received at the location designated in the Note or at such other location as may be designated by Leader t accordance with the notice provisions its Section 15. Lcndcr may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loa current. Leader may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights bereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments al the time such payments are accePled. If each Periodic Payment is applied as of its scheduled due date, then Leader need not Puy interest on untanned fiends. Last may hold such misapplied funds until purposes makes payments to bring the Loan current If Borrower does out do so within a reasonable period of time, Leader shall either apply Such funds or return them to Borrowers . If not applied earlier, such fads will be applied to the outstanding principal balance under the Note immediately prior to Poreclosure. No offset or claim which Bor swer might have now or shall in the future against Leader all relieve Harrower from making payments due under the Note mid this Security Instrument or per@uming the covenants and agreements secured by this seem its Ehstrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Leader shall be applied in the following order of priority (a) interest due under the Note; (b) principal due ender the Note; (c) amounts due ceder Section 3. Such payments shall be applied to each Periodic Payment act the order in which it became due. Any remaining am unts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and than to reduce the principal balance of the Note If Lends rceesvca a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment iinay be applied to the delinquent payment and the lute charge If more than one Periodic Paynhcnt is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment eve be paid in full. To the extent that any excess exists after the payment is applied to the Cull payment of one or more Periodic Payments, such excess may be applied to spy late charges due. Voluntary prepayments shall be applied first to my 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 cltange the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Paymems are due under the Note, until the Note is paid in full, a sum (the " Ponds') to provide for payment of amounts due for (u) tuxes and asneasments and other items which can attain priority over this Severity InstrVmen as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if shy; (c) premiums for any and all insurance required by Leader under Section 5: and (d) Mortgage Insurance 229152 a �a61NE1 ;oaoe) amen on form362B last