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200602921 THIS SECURITY INSTRUMENT combines uniform covenants for national usc and non-unifonn covenants with limited variations by jurisdiction to constitute a uniform sccurity instrUlTlent covering real property. UNIFORM COVENANTS, Borrower and Lender covenant and agrec as f()lIows: 1. Payment of Principal, Interest, Escrow Items, Prcp~lyment Charges, and Late Charges. Borrower shall pay when due the principal ot~ and intercst on, the debt evidenced by the Note and any prepayment chargcs and late charges duc under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under thc Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument rcceived by Lender as payment under the Notc or this Security Instrument is rcturned to Lcnder unpaid, Lender may requirc 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) certificd check, bank check, treasurcr'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 entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such otber location as may be designated by Lender in accordance with the notice provisions in Section 15, Lender may return any payment or partial paymcnt if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hen:under or prejudice to its rights to refuse such payment or partial payments in thc future, but Lender is not obligated to apply such paymcnts at the time such paymcnts are accepted. If each Periodic Payment is applied as of its scheduled duc date, thcn Lender need not pay interest on unapplied funds. Lcnder may hold such unapplied funds until Borrower makes payments to bring thc Loan currcnt. If Borrower docs not do so within a reasonable period of time, Lender shall cither apply such funds or rcturn them to Borrower. If not applied earlier, such funds wil1 bc applied to the outstanding principal balance undcr the Note immediately prior to foreclosure. No offsd or claim which Borrower might have now or in thc future against Lender shall relieve Borrower from making payments duc under thc Note and this Security Instrument or performing thc 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 appl ied 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 Scction 3. Such payments shall bc applied to each Periodic Payment in the ordcr in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due undcr this Sccurity Instrument, and then to rcduce the principal balance of the Note. If Lcnder receivcs a payment hom Borrower for a delinqucnt Periodic Payment which includes a sutficient 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 Paymcnt is outstanding, Lcnder may apply any payment received from Borrower to the repayment of the Periodic Paynlents if, and to the extent that, each paymcnt can be paid in tiJll. To thc extent that any exccss exists after the payml:nt is applied to the ful1 paYlnent of one or morc Pcriodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prl:payment charges and then as described in thl: Note. Any application of payments, insurancc proceeds, or Miscellaneous Proceeds to principal due undcr the Note shall not extend or postpone the due date, or change thc amount, of the Pcriodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lendcr on the day Periodic Payml:nts are due under thc Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxcs and aSSeSSI1J(;.1lts and other itcms which can attain priority over this Security I nstrUl1lent as a lien or encllmbrance on the Property; (h) leasehold payments or ground rents on tbe Property, if any; (c) premiums for any and all insurance requirl:d by Lendl:r under Section 5; and (d) Mortgage Insurancc P~e4 of 15 l"itiaIS:~.:U' \fJfQ{) 0110247901 .-6(NE) (0401).01 @ Form 3028 1/01