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200603823 THIS SECURITY INS-rRUMENT combines uniform covenants for national use and non-uniform covenants with limitcd variations by jurisdiction to constitlltl' a uniform security instrument covering real property. UNIFORM COYENANTS. Borrower and Lender covcnant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Pl-epayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment chargcs and late charges due under the Nare. BOITower shall also pay funds for Escrow Items pursuant to Section 3. Paymcnts due under the Note and this Security Instrument shall be made in U.S. currency. However, if any chcck or othcr instrument receivcd by Lender as payment under the Note or this Sccurity Instrurlll:nt is retuJ'Iled to Lender unpaid, Lender may require that any or all subsequent payments due under thc Notc and this Security Instrument be made in one or more of the following forms, as selected by Lendcr: (a) cash; (b) money ordcr; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whosc deposits are insured by a federal agency, instrumcnlalily, or cntity; or (d) Electronic Funds Transfer. Payments are deemed n:ccived by Lendcr when receivcd al the location designated in the Note or at such other location as may bc designated by Lcnder in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the paymcnt or partial payments are insufficient to bring the LO<lll current. Lender may accept any payment or panial payment insufficient to bring the Loan current, without waivcr of any rights hereunder or prejudice to Its rights to refuse such payment or partial payments in the future, but Lcnder is not obligated to apply such payments at the time such payments are acccpted. If each Periodic Payment is applied as of its schcduled due date, thcn Lcnder need not pay interest on unapplied I'unds. Lender may hold such unapplied funds until Borrowcr makes payrnents to bring the Loan currcnt. If Borrower does not do so within a rcasonable period of time, Lender shaIl either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal bal:ll1ce under the Note imrncdiately prior to foreclosure. No offset or claim which Borrower might havc now or in thc future against Lcnder shall relievc Borrower from making payments due under the Note and this Sccurity Instrumcnt or perfonning thc covenants and agreements secured by this Sccurity Instrument. 2. Application of Paymcnts or Procceds. Except as otherwise described in this Section 2, all payments accepted and :\pplied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal clue under the Note; (c) amounts due under Section 3. Such payments shall be 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 under this Security Instrument, and then to reduce the principal b:llanee of the Note. If Lender receives a payment from Borrower for a del inquent Periodic Payment which includes a sufficient amount to pay :lIlY latc chargc due, thc payment nJay be applied to the delinquent payment and the late charge. If Inore than one Periodic Payment is outsUlIlding, Lender may apply auy payment received from Borrower to the repayment of the Periodic Paymcnts iL and to the extent that, eaeh paymem can be paid in full. To thc extent that any excess exists after the payment is applied to the full paymcnt of one or morc Periodic Paymcnts, such excess may be applied to any late charges due, Yoluntary prepayments shall be applied first to :IllY pn~payment charges and then as described in the Notc. 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 changc the amount, of the Periodic Payments. 3. Funds for Escrow !tenls. Borrower shall pay to Lender on the day Periodic Payments arc due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for paymcnt of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) Ieaschold payment, or ground rents on the Property, if any; (c) prelniums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance PCl\.Je 4 of 1 5 Il1iti"IS:~"~ 0110252081 .-6(NE) (0407101 @ Form 3028 1/01