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200605786 THIS SECURITY lNSTRUM ENT combines unitilrlll covenants for national usc and non-unitilrlll covcnants with limitcd variations by jurisdiction to constitutc a uniform security instrument covcring rcal propcrty. UNIH)RM COVENANTS. Borrower and Lender covenant and agree as f()lIows: I. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrowcr shall pay when due the principal o( and interest on, the dcbt cvidcnccd by the Note and any prcpaymcnt chargcs and late chargcs due under the Note. Borrower shall also pay funds for Eserow Items pursuant to Section 3. Payments due unlkr the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument rect:ived by Lender as payment under the Note or this Security Instrument is returncd to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the tl.)lIowing forms, as selected by Lender: (a) cash; (b) money order; (e) certified check. bank check. treasurer'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 sueh other location as may be designated by Lender in accordance with the notice provisions in Section IS. Lender may return any payment or partial payment 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 hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such paYlllcnts at the time such paymcnts arc acccpted. If each Pcriodic Payment is applied as of its scheduled due datc, then Lendcr need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan curn:nt. If Borrower docs not do so within a reasonable period of time, Lender shall either apply such funds or rcturn them to Borrower. If not applied earlier, such funds will 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 rclieve Borrower from making payments due under the Note and this Security Instrument or perfclrlning the covenants and agrecrllents secured by this Security Instrument. 2. Application 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) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining alnounts shall be applied first to late charges, second to any other mnounts duc under this Security Instrumcnt. and thcn to reduce the principal balance of the Note. I I' Lender receives a paYlnent from Borrower tl)r a dclinquent Periodic Payment which includes a sufficient amount to pay any late charge due. the paymcnt may be applied to the delinquent payment and the late charge. If morc than one Periodic Paynlent is outstanding. Lender may apply any payment received from Borrower to the repayrnent of thc 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 excess may be applied to any late charges due. Voluntary 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 Periodic Payments. 3. Funds fOI' Escrow Hems. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sunl (the "funds") to provide for payment of amounts due tl.)r: (a) taxes and assessnlCnts and other itenls which can attain priority over this Security Instrument as a lien or enelllnbrance on the Property; (b) leasehold payments or ground rents on the Property. if any; (c) premiullls fi)r any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance P"Je 4 of 1 5 ~.. / Ini~:~/ L . 06-041407 G-6(NE) (0407),01 @ Fonn 3028 1/01