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200702415 THIS SECURITY INSTRUMENT combines uni'l'onn Covenants for national use and non-unifonn covenants with limitea variations by jurisdiction to constitute a unitoml security instrument covering [flal property. UNIFORM COVENANTS. Borrower and Lender COVlilnant and agree as follows: 1. Payment of Principal, Interest, Estrow Items. Prepayment Charges. and Late Charge$;. Borrower shall pay when dl-\.e the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges cluo under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under Ihe Note and this Security Instrument shall be made in U.S. currency. However. if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that ilny or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following fotmS, as selected by Lender: (a) cash; (b) money order; (c) certiiied check, bank check. treasurer's check or cashier's check, provided any sucl1 check is drawQ upon an institution whose dopo~its are insured by a fedetal agency, instrumentalHy, or entity; or (d) Electronic Funds TI'an.~'l'br. Payments are d~emed received by Lender when received at the location designated in the Note Or ilt such mher location a$ may bl;! designated by ,[...ender in accordance with th~ notice provision:i in Section 15. Lender may return any payment Or partial payment if Lbe payment or partial payments are insufficient to bripg ~hf;l Loan current. Lender may accept any payment or partial paymont insufficient to briIlg the Loan current, withO'lU wlIiver of any rightr:; hereunder or prejucl.icc to its rights to refuse .such payment or partial payments in the future, but Lender is 110t ollligated to apply such paymen~ at the time such payments are accepted. If each Periodic Payment is applied as of its $ched\.lled due date, then Lender need not pay in~erest on unapplied funds, Lender may hold such unapplied funds until Borrower makes payments to bring flle Loan Current. If Borrower does not do so within n reasotu'\ble period of time. Lender shalI either apply slIch funds or rerurn them to :Borrower. If not applied earlier. such funds will bo applied to the autstamling principal balance umler the Note immediately prior to foreclosure. No offset or claim which Borrower might hilve now or in the future against Lender shall relieve Borrower from making payments clue under the Note ancl. this Security Instrument or perfonn1ng the covenants and agreement-I:; secured by this Security Instrument. 2. Application ot Payments or Pl-oceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applit.'d in the foHowing or4or of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amoun[.~ due under Section 3. Such payments shall be applied to each Periodic Payment in flle order in which it became clUe. Any remaining amounts shall be applied tirst to late charges, second to any other amOl1Ilts due under this Security Jnstrument, 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 charge due, the payment may be appliecl to the delinquent payment and the late charge. If more than one Periodic payment is outstanding, Ll:!nder may apply any payment received from Borrower to the repaymen( of the Periodic Payments if, and to the extent that, each paymenL can be paid in full. To the extent thm any excess mdsts after the payment is applied to the t'ull 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 clescribed in the Note. Any application of paymenls, insurance proceeds, or Miscellaneous Proceeds to pril1cipal clue under the Note shall not cx~nd or postpone the due date, or Change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender Cm ~h~ day Periodic Payments are clue under the Note, until the Note is paid in full, a sum (the "Funds") to providelbr payment of amoun[.~ clue for: (a) taxes and assessments and other items which can attain priority over this Security lnstrument as a lien or encumbrance on flIe Property; (b) leaseholcl paym~ms or ground rents: On. the Property, if any; (c) premiums for any ancl all insurance required by Lender under SecWm 5; and (d) Mortgage lnsurance . -6(NEII0005) M lnitl~IIi;~(] jJ p.~,,4 <>1 11i Form 302ij 1/01