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200705840 THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-unifonn covenants with limited variations by jurisdiction to constitute a uniform security instrument covering re.:,u property. . UNIFORM COVENANTS. Borrower nnd Lender covenant and agree as follows: 1. Payment ot' 'Principal. Interest, Escrow Items, Prepayment Charges. and Late Charges. Borrower shan pay when due the principal of, anCl interest on. the debt evidenced by the Note and any prepaymt.'T\t ~harges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due un4er the Note and this Security :lnstrnment shall be made in U.S. currency. However, if any check or other instrument received by Lender as paymtlnt under the Nottl Or thi$ Security Instrument is returned to Lender unpaid. Lender may tequire that any or all subsequent payments due under the Note and this St.'Curity Instrumtlnt be made in onl; or more of the following fOnTIs, as selecred by Lender: (a) cash; (b) money orcleri (c) certitlc4 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 such other location as may be designated by Lender in accordmlee with the Dotict) provisions in Section 15. Lcmclet may return any payment or partial payment if the payment or partial payments are illSufficient to bring the Loan current. Lender may accept any payment or partial payment insufllcient to bring the Loan current, without waiver of any rights ht:reunder or prejudice to its ri&hts to refuse such payment or pmtial payments in the t\l.ture, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its SCheduled due dale, then Lender nee4 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 40 so within a reasonable period. of dme, Lend.er shall either apply such funds or retum them to Borrower. If not applied earlier. .such funds will be applied to tho 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 relievtl Borrower from making payments due under the Noto and tllls Security Instrument or performing the covenants and agreements secured by this Security Instrument, 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2. all payments acctlpted 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 Periodic Payment in the order 111 which it became due. Any remaining amounts shall be applied first to late charges, second to any other amoun1'$ due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which inclu4es a suffie:iel'l.t amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than onO :Periodic Payment is outstanding. I-ender may apply any payment received from 'Borrower to the rc;.1layment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any cltcess exists after t11e payment is applied to the full payment of onc or mOl'e Perioak Payments, such excess may be applied to any lllte chaJ'ges dutl. Voluntary prepaymeI1ts shall be applied first to any prepayment charges and then as c1e$cribed in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceods to principal (Jue under the Note shall not ex~en4 or postpone the due dare, or change the amount, of the Periodic Paymems. 3. Funds tor Escrow Items. Borrower shall pay to Lender on the day Pmodic Payments are due under the Note, until the Note is paid in full, a sum (the n:FunM') to provide for payment of amounts due for: (a) taxes and asse$$ments and other items which can attain priority over this Security Instrument as a. lien or encumbrance on the Propeny; (b) leasehold paymtlnts or ground rent$ on the Prope~lY, if any; (c) premiwns for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance . -6IN~IIOOO5) P~ga 4 of , 5 lniliql." Form 3028 1/01