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20070~lf77 THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform 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, Interest, Escrow Items, Prepayment Charges, and Latt Cba..ges. Borrower shall pay when due the p~incipal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds fot Bscrow Items pursuant to Section 3. Payments due under the Note and this Security Instnll;Dell.t shall be made in U.S. currency. However, if any check or other instrwnent received by Lender as payment under the Note or this Security Instrument is retl.1med to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in OlJe or more of the following forms, as selected by Lender: (a) cash; (b) nloney order; (c) certified 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 8g;ency, instrumentality. or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when receh'ed at the location desianated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in section 1S. Lender may return my payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or paniaI payment insufficient to bring the Loan current, without waiver of any rights hereUflder or prejudice to ita rights to ret'use such payment or partial payments in the future, 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 date, then Lender need not pay interest on ooapplied funds. Lender may hOld such unapplied funds untU Borrower makes payments to bring the Loan cutrent. If Borrower does not do so within a reasonable period of time. Lender sh.aU either apply such funcls or return them to Borrower. If not applied earlier, such funds will be applied to the outlltanding principal balance under the Nore 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 unclei.' the Note and this Security Instrument ox performing the covenants and agreements Ilecured by this Security Instrument. Z. Appli4::ation of Paynlents or Proceeds. Except as otherwise descdbed in this Section 2, all payments accepted and applied. by J..e;o.cler smill be applied in the fullowins order of priority: (a) interest due under the Note; (b) principal due umter the Note; (c) amDUflts due under Section 3. Such payments shall be applied to each Periodic Paym!l1l.t in the ordet h1 which it became due. Any remaining amoUIUS shall be applied first to late charges, second to any other aJ;DOUD.ts 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 includes II. sufficient amount to pay any late charge due. the payment may be applied to the delinquent payment and the late charge. If 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 exccs! 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 under tbe Note shall not extend or postpone the due date. or mange the amount. of the Periodic Payments. 3. Funds for Ellcrow Itmu. BOITower 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) tllXes and llBsel!Jsmcut$ and other items whicb. can attain priority over this Security Instrument as a lien or (!1lcumbt3nce on the Property; (b) lelliehold 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 ~ ~(NEII(l0051 1'Ifl!4al Hi I~ti.:ll"~ t Form 3028 1/01