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200703313 THIS SECURITY INSTRUMENT combines uniform coven.IIlUi for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering real propeny. UNIFORM COVENANTS. Borrower and Lender coveoant and agrc;e 2$ follows: 1. Payment of Principal, Interest, :Escrow Items, Prepnyment Charges, and Late Charges. liQrrower shall pay when due the principal of, and interest on. the debt evidtmced by the Note and any prepayment charges and late charges due under the Note, Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this security Instrument shall be made in U.S. currency. However, if any check Or other instmment received by Lender as payment under the Note Or this Security Instrument is returned 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 following forms. as selected by Lender: (a) ca.~h; (b) money order; (c) certified ch~k. blUlk check, treasu.rer's check or cashier's check. provided any such check is drawn upon an institution whose doposits are insured by a federal agency. instrumenl:ality, or entity; or (4) Electronic Funds Transfer. Paymentli arC deemed received by Lender when received at the location designated in the Note or at such olh~r location as may 00 designated by Lender in accordance with the notice provisions in Section 15. :l..ender may return any payment or paTtial payment if the pAyn1eftt or partial payments are insufficient to bring the Lo&n current. Lemler may accept any payment or partial payment insufficient to bring the Loan current. without waiver of any rights hereunder or prejudice to iLS rights to refuse such payment or partial payment..'i in the future, but Lender is not obligated to apply such paymtlnt.~ at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. lender may hold such unapplied funds until Borrower makes payments to bring the Loan current, If Borrower does not do so within a rtluonable period of time. 4"'P4er shAll either apply such funds or renlrn them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately plior to foreclosure. No offset Or claim which Borrower misht have now or in the futLite against Lendtlr shall relieve Borrower from rnaki.1lg payments due under the Note and this Security Instrument or perfotming the covenants and agreements secured by this SecLitity Instrument. 2. Application of PaYIllcnts or 'Proceeds. Except as otherwise described in this SectiOll 2. all payments accepted and applied by Lender shall be applied in the following 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 Perio4ic Payment in the ardor in which it btlCaffie due. Any remaining lUDOunts shall be applied first to late charges, second (0 any other amounts due under this Security InStnlmenl, and then to reduce the principal balance of the Note. If Lender receives a payment from aorrower for a delinquont Periodic Payment which includes a sufficient amount to pay any late charge due. the payment may be applied to the delinquent payment and tho late charge. If more than one Periodic Payment is outstanding. Len(]er may apply any payment received from Borrower 10 the repaymem of the Periodic Payments if. and to the extent that. each payment can be paid in full. To the extent that any excess tlxists after the payment is llppliecl to the full payment o'f 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 undc.:r the Note shall not extend or postpone the dutl date. Or change the amounL of the Periodic Payments. 3. Funds rOr Escrow Items, Borrower shall pay to Lender on the day Periodic 'Payments are due under the Note. WItH the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can altalll priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold paymcnt$ or ground rents on the Property. if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage IJ.1Surance In~i'l~ . .6INE) 100051 Qi> PaBa 4 QIl S Form 3028 1/01