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AUG -09 -2003 SAT 10:30 AM WELLS FARGO NOME MTG FAX N0, 4025362983 200310876 THIS SECURIVY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property . UNIFORM CO'JENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay `;hen due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges ; nd late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section :. Payments due under 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 under the Note or this Security Instrument i; 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 check, treasurer's check or cashier's check, pro` ided any such check is drawn upon an institution whose deposits are insured by a federal agency, instn mentality, or entity; or (d) Electronic Funds Transfer. Payments are di tmed received by Lender when received at the location designated in the Note or at such other location w may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return ary payment or partial payment if the payment or partial payments are insufficient to bring the Loan curre. it. Lender may accept any payment or partial payment insufficient to bring the Loan current, without wail er of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the futu; e, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan currei it. If Borrower does not do so within a reasonable period of time, 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 hav1: now or in the future against Lender shall relieve Borrower from making payments due under the Note ; tnd this Security Instrument or performing the covenants and agreements secured by this Security Instrumi mt. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted alid applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to etch 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 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 ipay any late charge due, the payment may be applied to the delinquent payment and the late charge. If mc' re than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to thi: repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Paynx nts, such excess may be applied to any 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 I scrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts due for: (a) taxes and asa essments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any aid all insurance required by Lender under Section 5; and (d) Mortgage Insurance Initials: S(NE) t000ri Page 4 of 15 Form 3028 1/01 P. 14