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<br />200700292
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<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
<br />The Property shall also include any additional property described in Section 20.
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<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the
<br />right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record as
<br />of the execution date of this Security Instrument. Borrower warrants and will defend generally the title to the
<br />Property against all claims and demands, subject to any encumbrances of record.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Prepayment and Other Charges. Borrower shall pay when
<br />due the principal of, and interest on, the debt evidenced by the Debt Instrument and any prepayment charges, late
<br />charges and other charges due under the Debt Instrument. Payments due under the Debt Instrument and this
<br />Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender
<br />as payment under the Debt Instrument or this Security Instrument is returned to Lender unpaid, Lender may require
<br />that any or all subsequent payments due under the Debt Instrument and this Security Instrument be made in one or
<br />more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
<br />treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are
<br />insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in (or in accordance
<br />with) the Debt Instrument or at such other location as may be designated by Lender in accordance with the notice
<br />provisions in Section 13. Subject to Applicable Law, Lender may return any payment or partial payment if the
<br />payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial
<br />payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to
<br />refuse such payment or partial payments in the future.
<br />2. Application of Payments or Proceeds. Unless other procedures are set forth in the Debt
<br />Instrument or Applicable Law, Lender may apply payments in any order that Lender deems appropriate.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the
<br />Debt Instrument shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground
<br />rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower: (a) has disclosed such lien to Lender at application for the Loan or agrees in writing to the payment of the
<br />obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such
<br />agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings
<br />which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but
<br />only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to
<br />Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is
<br />subject to a lien that can attain priority over this Security Instrument and which was not disclosed on the application
<br />for the Loan that Borrower provided to Lender, Lender may give Borrower a notice identifying the lien. Within 10
<br />days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions
<br />satisfactory to Lender set forth above in this Section 3.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting
<br />service used by Lender in connection with this Loan.
<br />4. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on
<br />the Property insured against loss by fire, hazards included within the term "extended coverage," and any other
<br />hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance
<br />shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What
<br />Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier
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<br />liiliiUilliiiili.ilfiii.lIi (5/4/06)
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<br />(page 3 of J 3 pages)
<br />Documents Processed 12-18-2006,08:32: 18
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