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200213515 BORROWER COVENANTS that Borrower is lawfully seised or the estate hereby conveyed and has the right to grarrt mid convey the Property mid that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Properly against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines wufomr covenants for national use and non- milform covenants with limited variations by jurisdiction to constitute a uniform 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. Borrower 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 pursuant to Section 3. Payments due wider the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment trader the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due wider the Note and this Security Instrument be node in one or more of tiro following Cormi, . as selected by Lender. (a) cash; (b) money order; (c) certified check, bank check, 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 entry; or (d) Bltxtmnic Funds Transfer. Payments arc 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 provisions in Section 15. Lender may return any payment or panial payment if tine payment or partial payments are insufficient to bring the Loan current Lcldcr play acccpl 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 the future, but Lender is not obligated to apply such payments at the lime such payments are accepted- If each Periodic Pay new is applied as of its scheduled due date, Ihorl Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so widen a reasonable period of time, Lender shall either apply such funds or return them to Borrower If not applied earlier, such Gods will be applied to the outstanding principal balmwe under the Nato 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 covenants and agrecmcnls 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 Note; (b) principal due under the Nole; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any, other amounts due wider this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payrncal from Borrower for a dclinqucnt Periodic Payment which includes a sufficient amount to pay any late charge due, 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 payment received from Borrower to the repayment of the Periodic Pavmmds if, and to the aslant that, cacti payment can he paid in Cull_ To the cxtcnl that any exees9 exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first in any prepayment charges and then as described in the Note. Any application of paymmds, insumncc proceeds, or MISCOImIUMIS 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 on the day Periodic Payments are due under the Note, until the Note is paid in fill, a sum (the "Funds ') to provide for payment of amounts due for (a) taxes and assessments and other dens which can attain priority over this Security Instrument as a lien or encumbrance on the Property; On) 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 premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance pre n nuns in accordance with the provisions of Section 10. These items are called "Escnny hone'' At Loan No: 3282586 Initials: Nehr -" D-d urT—t xrtgle Fundy -F—Atl —Tit: COnF1AA`Crl swats; INC. wmmmPlwwowrcmm Page 4 of Id MURS MWiara Forr.3028 01/01 rIDITF IIN N$ 050, The l'omPrl*�¢c 5wac, IH.