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<br />200608011
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<br />THIS SECURITY INSTRUMENT combines uniform (,;ovenants for national use and non-uniform
<br />wvenants with limited variations by jurisdi(,;tion to constitute a uniform se(,;urity instrument covering real
<br />property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
<br />Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any
<br />prepayment charges and late (,;harges due under the Note. Borrower shall also pay funds for Escrow Items
<br />pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U. S.
<br />mrrency. However, if any check or other instrument received by Lender as payment under the Note or this
<br />Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments
<br />due under the Note and this Security Instrument be made in one or more of the following fonns, as
<br />selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or
<br />cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a
<br />federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at
<br />such other location as may be designated by Lender in accordan(,;e with the notice provisioIL.'> in Section 15.
<br />Lender may return any payment or partial payment if the payment or partial payments are immfficient to
<br />bring the Loan current. Lender may a(,;(,;ept any payment or partial payment insufficient to bring the Loan
<br />current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial
<br />payments in the future, but Lender is not obligated to apply such payments at the time such payments are
<br />accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold su(,;h unapplied funds until Borrower makes payments to
<br />bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either
<br />apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the
<br />outstanding principal balance under the Note immediately prior to foredosure. No offset or claim which
<br />Borrower might have now or in the future against Lender shall relieve Borrower from making payments
<br />due under the Note and this Security Instrument or performing the covenants and agreements secured by
<br />this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Se(,;tion 2, all
<br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest
<br />due under the Note; (b) principal due under the Note; ((,;) amounts due under Section 3. Such payments
<br />shall be applied to each Periodi(,; Payment in the order in which it became due. Any remaining amounts
<br />shall be applied first to late charges, second to any other amounts due under this Security Instrument, and
<br />then to reduce the principal balance of the Note.
<br />If Lender re(,;eives a payment from Borrower for a delinquent Periodic Payment which includes a
<br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and
<br />the late (,;harge. If more than one Periodic Payment is outstanding, Lender may apply any payment re(,;eived
<br />from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be
<br />paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or
<br />more Periodic Payments, such excess may be applied to any late (,;harges due. Voluntary prepayments shall
<br />be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Pro(,;eeds to principal due under
<br />the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
<br />under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due
<br />for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a
<br />lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; ((,;)
<br />premiums for any and all iIL.,>uran(,;e required by Lender under Section 5; and (d) Mortgage Insurance
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<br />. -6INE) 100051
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<br />InitiaI5:r~
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<br />Page 4 of 16
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<br />Form 3028 1101
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