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200602706 THIS SECURITY INSTRUMENT combines uniform covcnants for national usc and non-unifilrm covcnants with lirnitcd variations by jurisdiction to constitute a uniform sccurity instrumcnl covering real property. UNlrORM COVENANTS. Borrower and Lender covenant and agree as follows: l. Paymcnt of Principal, Interest, Escrow Items, Prepaymcnt Charges, and Late Charges. Borrower shall pay when due the principal of, and in((;rest on, thc dcbt cvidenced by the Nole and any prepayment charges and late charges due under the Notc. Borrower shall also pay funds fill' Escrow Items pursuant to Section 3. Payments due lllH-Ier tll(: Note and this Security Instrlllncnt shall be made in U.S. currency. H owcvcr. if any check or other instrument rcccived by Lender as payment under the Note or this Security Instrumcnt is returlH:d to Lender unpaid, Lender may require lhat any or all subscquent payments due undcr the Note and this Security Instrument be rnade in one or more of the lilllowing forms, as selected hy Lender: (a) cash; (b) nloney order; (c) certified check, bank check, trcasurer's check or eashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are decmed reeeivcd by Lender when received at the location designated in tbe Nolc or ,It such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lcnder lIlay return any payment or partial payment if the payrnent or partial payments arc insufflcicnt to bring the Loan current. Lender rnay accept any payrnent 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 SlH:h payments at the time such payments are accepted. If each Periodic Payrnent 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 payrnenls to bring the Loan current. I I' Borrower does not do sO within a reasonable period of time, Lender shall either apply such funds or return thelll to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note inmlediately prior to filreclosure. 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 Instnllllent or perfimning the covcnants and agreements secun:d by this Security Instrulllent. 2. Aplllication of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the f()lIowing order of priority: (a) intcrest due under the Note; (b) principal due under the Note; (c) amounts due lindeI' Seetion 3. Such payments shall be applied to each Periodic Payment in the order in which it becmne 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 lhe Note. If Lender receives a payment fi-otn Borrower fill- a delinquent Periodic Payrnent which includes a sufficient mnount to pay any late charge due, the payment rnay be applied to the delinquent paYlnent and tbe late charge. If more lhan one Periodic Payment is outstanding, Lender lllaY apply any payment rcceived from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in filiI. To the extent thaI any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any lall.; charges due. Voluntary prepaymcnts shall be appliedlirst to any prepaYlnent 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 cxtend or postpone the due date, or change the anlount, of the Periodic Payrnents. 3. Funds flll- Escrow Hems. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in fllU, a sum (the ''funds'') to providc firr payrnent of amounts due firr: (a) taxes and assessrnents and other items which can attain priority over this Security Instrument as a lien or enCll1nbranee on the Property; (b) leasehold payments or ground rents on the Property, if any; (cl premiul1ls fill" any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance ~.6(NE) (o~n7)_01 ~ Initials: _~_LlJD 0110247846 P''de 4 of 1 5 Fonn 3028 1/01