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200207501 THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real Properly. UNII'ORM COVENANTS. Burrower and Lender covenant 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 laic charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments duc under the Note and [his Security Instrument shall be 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 Lender unpaid, Lender 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 forms, as selected by Lender: (a) cash; (b) money order: (c) certified check, bank chuck, treasurer'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 utility: or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at [tic location designated in the 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 payments are insufficient to bring the Loan current. Lcndcr may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in We future, but Lender is not obligated to apply such payments at the time such payments arc accepted- If each Periodic Paymcut is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplicd funds until Borrower makes payments to bring [tic Loan current. If Borrower does not do so within a reasonable period Of tiuoc, 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 immediately prior to foreclosure. No offset or claim which Borrower might have now or in the Future against Lcndcr shall relieve Borrower from making payments duc under the Note and this Security Instrument or performing the covenants and agreements secured 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 Nom; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payntem in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts duc under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a Payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge duc, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any paymcn[ received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. 'to the extent that any execs exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied [n any late charges due. Voluntary prepayments shall be applied firs[ m 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 duc dale, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Tender on the day Periodic Payments are due under the Nate, until the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts duc for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien of encumbrance on the Properly; (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 ��61NE7 moos, ruoea or is lll......�� Parrn 3028 110