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200707399 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 real property. UNIFORM.COVENANTS. Borrower and Lender covenant and agree as .follows: 1. Payment of Principal, InteteSt, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest 011, the debt evidenced by the Note andany 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 otherinstrumefitreceived by Lefider 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 thefoIIowing forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bankcheck,treasurer's check or cashier's check, provided any such check is drawn upon an institUtion whose deposits are insured bya federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed reccivedby Lender when received at the location designated in the Note or at such other location. as may be designated by Lender in accordance with thenoticc provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments.. are insufficient to bring the Loan cUrrent. Lender may accept any payment or partial payment insufficient to bring the Loan current,without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. Tfeach Periodic Payment is applied as of its scheduled dUe date; then Lender need not pay interest on unapplied funds. Lender may hold suchUnappIiedfunds Until Borrower makes payments to bring the. Loan current. If Borrower does not do so within a reasonable period. of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such fundswiU be applied to the 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 relieve. BorrOWer. from making payments due under the Note and this Security Instrumeritor performing the covenants and agreements secured by this Security Instrument. 2. Application ofPaymeilts or Proceeds. Except as. otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in theJol1owing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Su.ch payments shall be applied. to each . Periodic . Payment in the order in. which it became due; . Anyremairiing amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinqueIit Periodic Paymerit which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent .payment and the late charge. Ifmore than one Periodic Payment is outstanding, Lender may apply any payment received' from Borrower to the repayment ofthe Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to thefullpayment of one or more Periodic Payments, such excess may be applied toanyl<:ite 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 Proceedsto principal due under the Note shall not extend or postpone the due date,orchange theamoUrit, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lerider on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum {the "Funds")to provide for payment ofatrtounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance Page 4 of 15 0110269921 .-GlNE) (0407).02 @ Form 3028 1/01