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200207441 THIS SECURITY INSTRUMENT combines uniform covenants for national rest and non- uniform covenants with limited variations by jurisdiction to constitute a onifonn security inctmnhere covering red property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Chnrgrw. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and :my prepayment charges and late charges due under the Note. Borrower shall also pay lands I'or Escrow Items pursuant to Section 3, Payments due under the Note and this Securliv hnstmment shall Inc 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 Lander unpaid, Leader may require that any or all subsequent payments due under the Note and this Security Insrtment be made in one or more of the following forms, as selected by Leader: (a) cash; (b) money order; (c) certified cheek, bmlk check, treasurer's check or cashict's check, provided any such check is drawn upon no institution whose deposits are insurer) by a federal agency, instrumentality, or entity; or (d) Elcutronio 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 designated by Lender in accordance with the notice provision, in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring die Loan current. Lender may accept nay payment or partial payment insuBieieat to bring the Loan current, without waiver of any rights heretmder or prujudioo to its lights to refuse such paymcun or partial payments in the future, but fender is at obligated to apply such payments at the fine such priymcnts are accepted. if each Periodic Payment is applied as of its scheduled doe date, then Lender need not pay interest on unapplled funds. Under may hold such reapplied funds until Borrower nukes payments to bring the Loan current. If Borrower does not do so within a reasonvhlc period of lime. Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note himacdiceely prior to fomelosuro_ No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower (rain cranking payments due under the Not,, and this Security litetrumerd or performing the revenants and agrecnunta sward 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 be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note, (e) accounts due under Section 3. Such paymerus shall be applied to each Periodic Paymcrit 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 tills Security Inatrarrlent, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Paymeia which includes a sufljricel amount to pay any lace charge due, the payment may be applied to the delinquent payuheut and the late charge. If more than one Periodic Payment is outstanding, Leader inay apply any Payment received from Borrower to the repayment of the Periodic Payments if, and to the extent ibat, each payment can be paid in fill. To the extent that any excess mists after the payment is applied to the full paymmnt of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment cbargas and then as described in the Now. Any application of payments, insurance proceeds, or Miuellancoun 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 Lender nn the day Periodic Payments are due under the Note, until the Note is paid in full, a slim (the "Hinds ") tD provide for payment of amounts due ire: (a) taxes and aswsernents and other items which can attain priority over this Sneufity Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground cries on the Property, If any: (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance (M ®E(NE) �eao9i Ni. 80 'd 9££Z 8£5 MI; 'ON Xdd 0114 OWOH OOdd SLUM Wd BI :dI M ZOH —el—HOC