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200600582 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby convCly,d and haa the right to grant and convey the Property and that the Property ia, unencumbered, except for enoumbrances of record. Borrower warX'ants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non~unifonn covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering r~a1 property . UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: 1. Payment of Prlnclpal, lnterest, Escrow Items, Prepayment Charges, and Late Charges. Borrowe!r 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 pu.\'Suant to Section 3. Fayments 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 is retumecl to Lender unpaid, Lender may require that any or all subsequent payments due under the No~ and this Security Instrument be made in one or more of the following fonns, as selected by Lender: (a) C41$h; (b) money order; (c) certified check, bank check, treasurer's check 01' cashier's check, provided any such check is drawn upon an institution whose depo~lits are insured by a federal agency, instrumentality, or entity; or (4) ElectrOnic Funds Transfer. Payments are cleemed received by Lcn~ when received at the location designated in the Note or at such other location as may be desisnated by Lender in accordance with the! notice provisions in Section 1S. Lender may return any payment or partial paymClnt if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or paX'tial ~ayment insufficient to bring the LOan current, without waiver of any righlll hereunder Or p~judice to its rIghts to refuse such payment or panial payme!nts ,in the futUl.'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 payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shalt either apply such funds or remm them to Borrower. If not applied earlier, such funds wilt 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 Lender shall I."elieve Borrower from making payments due under the Note and this Security Instrum,nt or perfonning the Covenants and agreements secured by this Security Instrument. 2, Application of parrnents or Pl'OO!eds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be apphed. in the following oni,r of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts dUe under Section 3. Such payments shalt be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied tirst to late charges, second to any other am.ounts due under this Security Instrulnent, 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 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 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 Payments, such excelli may be applied to any late charges due. VOluptary 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 P~riodie Payments. 3. Fundi for Escrow 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 assessments and other iteIlltil 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 and all insurance requitCId by Lender under Section SI and (d) Mortgage Insurance E990802 q'SAINEI I~071 P"".401111 1~111'1':~ Form 3021 1'01 l S 'd OHi; 'ON djO~ MOj)S3 ~ ~lt!l tS~M4tjON ~d~S:S 900~ 'Ol 'U'ef