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200603224 TH I S SECU R ITY IN STR U VI F NT comhill(;s Unif(lrIll covcnants f(J1- national usc and non-un iform covenants with limitcd variations by jurisdiction to constitute il uniform sccurity instrument covering real property. UNIFORM ('OVENANTS. Borrower and Lender eovenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, lInd Late Charges. Borrower shall pay when due the principal of and interest on, the debt evidenced by the Note and any prepaynlent charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall he made in U.S. currency. II owever, if any check or other instrument received by Lender as payrnent under the Note or this Security Instrument is returned to Lender unpaid, Lender may n:quire that any or all subsequent paymcnts due under thc Note and this Security Instrument be made in one or more of thc following forms, as sclccted hy Lcnder: (a) cash~ (b) money order; (c) ccrtified check, bank check, treasurcr's chcck or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments arc deemed received by Lender when received at the location designated in the Nole or at such other location as may he designated by Lender in accordance with the notice provisions in Section IS. Lendcr may rcturn any payment or partial paYlnent if the payment or partial payments are insufficient to bring the Loan currcnt. Lender may accept 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 thc future, but Lcndcr is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its schcduled 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 current. If Borrower does not do so within a reasonable period of time, Lender shall either apply sllch funds or rcturn thClll to Borrower. If not applied earlier, such funds will he applied to the outstanding principal balance under the Note immediately prior to t<.lreclosure. No offset or claim which Borrower might havt: now or in the futurt: against Lender shall relieve Borrower ii-om making payments due under the Note and this Security Instrunlent or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments 01" Proceeds. Except as othervvise described in this Section 2. all payments accepted and appl ied by Lender shall be applied in the f()lIowing order of priority: (a) interest due under the Note; (b) principal due undcr the Note; (e) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining arnounts shall be applied first to late charges, second to any other amounts duc 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 pay any late eharge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodil' Payment is outstanding, Lender may apply any payment received from Borrower to thc 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 thc full payment of one or more Periodic Payments, such cxeess may be applied to any late charges due. Voluntary prepayments shall he applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or M isccllaneous 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 Lcnder 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 t()r: (a) taxes and assessments and other items which can attain priority over this Seeurity Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any~ (e) premiums f(lr any and all insurance required by Lender under Section 5; and (d) V10rtgage Insurance Initials: S(, 0110247970 cD-6(NE) ([)411?).1I1 (K PElJe 4 of 1 b Fonn 3028 1/01