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200709656 THIS SECURITY INSTRUMENT combincs uniform covenants for national use and non-uniform covenants with limitt:d variations by jurisdiction to constitute a uniform st:curity instrument covcring rcal propt:rty. UNIFORM COVENANTS. Borrowt:r and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal 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 for Escrow Items pursuant to St:ction 3. Payments due under the Note and this Security Instrument shall be madt: in U.S. currency. However, if any cheek or other instrument rect:ived 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 undt:r the Nott: and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whosc deposits are insured by a ft:dt:ral agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments arc deemed received by Lender when rt:ct:ived at the location designated in the Note or at such other location as may be designatt:d by Lt:nder in accordance with the notice provisions in Section 15. Lender may rdurn 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 timc such paymcnts arc accepted. If t:ach Pt:riodic 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 rt:asonablc period of timt:, Lt:ndt:r shall either apply such funds or return them to Borrower. If not applied earlier, such funds will bc applied to thc outstanding principal balance under the Note immt:diately prior to forcclosure. No offset or claim which Borrower might have now or in thc future against Lender shall relieve Borrower from making payments dut: undcr the Note and this Security Instrument or performing tht: covt:nants and agreement,> st:cured by this Security Instrumcnt. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all paymcnts accepted and applicd 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 in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts duc under this Security Instrument, and then to reduce the principal balance of the Note. If Lendcr receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, tht: paymt:nt may bc applit:d to tht: ddinqut:nt paymt:nt and the late chargt:. If mort: than ont: Pt:riodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Paymt:nts if, and to thc t:xknt that, t:ach paymt:nt can bt: 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 bc 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 the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Paymt:nts arc duc undt:r the Note, until 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 whieh can attain priority over this Security Instrument as a lien or t:ncumbranct: on tht: Propt:rty; (b) kast:hold payments or ground rents on the Propt:rty, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance fig InlllalslJ?,//J7 <Ira -6(NE) (0407) Pag" 4 of 15 0756948071 Form 3028 1/01