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200708699 I TlDS SECURITY INSTRUMENT combines -uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securlty inst:roDumt covering real property . UNIFORM COVENANTS. Boaower and Lend8t covenant and agree as follows: 1. Payment of PrindpaJ, Interest, Escrow Items, Prepayment Charles, and Late Charges. Borrower sba1l pay when due the principal of, and inteIest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower sballll1so pay funds for Escrow Items pwsuant to Section 3. Payments due under the Note and this Security Insb'lllIbm.t shall be made in U.S. currency. However, if any check or other iDStrUm.ent received by Lender as payment undcI: the Note or this Security Instrument is returned to Lender llllpllid, Lendet may require that any or all subsequent payments due under the Note and this Security Instrument be made in ODe or more of the following fonns, as selected by Lender: (a) cashi (b) money orderi (c) certified check, bank check, treasurer's check or cashier's check, provided any 8UCh check is dmwn upon an institution whose deposits are insured by a federal agency, insb:'Umtmtality, or entity; or (d) Electronic Ponds Tnmsfer. 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 accordance with the notice 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 Lmder is not obligated to apply 8UCh payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, them Lender need not pay interest on unapplied funds. Lender may hold such lUl8pPlied funds until Bouower makes payments to bring the Loan cwrent. IT 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 funds will be applied to the outstanding principal balance under tho Notei:mmedi8tely prior to foreclosure. No offset or claim which Bonower might have now or in the fotu:re against Lender shall relieve Borrower from making payments due under the Note and this Security Instnnnent 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 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) a:mount8 due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any J"P.1l"Aining amounts sbal1 be applied first to late charges, second to any other amolUlts due under this Security Instrument, and then to reduce the prin&ipal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient 8lIlOIIDt to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. IT more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the 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 the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments sball be applied first to any prepayment charges and then as described inothe Note. Any application of payments, insuraDce proceeds, or Miscellaneous Proceeds to priocipal due under the Note shall DOt extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds lor &crow Items.. Borrower shall pay to Lender 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 of amounts due for: (a) taxes and 115S88Stnen.ts and other items which can attain priority over this Security lnsttument as a lien or encumbrance on the Property ; (b) leasehold payments or ground :rents on the Property, if any ; (c) premiumo fm any and all ......... >:eqnked by Lender aDder Section 5; r (d) Mmf&a&e Imunlnoe .ill ~ GL-6(NE) 10006) Pog.4Q116 Form 3028 1/01