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200801477 THIS SECURITY INSTRU\1ENT combincs uniform covcnants 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 Late Charges. Borrower shall pay when due the principal ot~ and interest on, the debt evidenced by the Note and any prepayment eharges and late chargcs due under thc Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Paymcnts due under the Note and this St::l,;urity InstrUTllt::nt shall bt:: madt:: in U.S. currency. However, if any check or other instmment received by Lender as payment under the Note or this Security Instnlluent is returned to Lendcr unpaid, Lender may require that any or all subsequent payments dut:: undt::r tht:: Note and this Sel,;urity Instrumt::nt be made in one or more of the following fonus, as selected by Lt::nder: (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 whost:: deposits are insurt::d by a federal agency,instmmentality, or entity; or (d) Electronic Funds Transfer. Payments arc deemed received by Lender when received at the location designated in the Note or at such other location as may be designated hy Lender in accordance with the notice provisions in Section 15. Lender may return any payment or patiial 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 prt::judil,;t:: to its rights to refuse such payment or partial paymcnts in the futurc, but Lender is not obligated to apply such payments at the time such payments arc accepted. If each Periodic Payment is applied as of its sl,;ht::duled dut:: 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::asonable pt::riod 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 the Note imrnediatdy prior to fort::dosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments dut:: under tht': Note and this Security Instrumt':nt or performing the covenants and agreements secured by this Security Instrumt':nt. 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) amounts due undcr Scction 3. Such paymcnts shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts sb,lll be 'lpplit::d tlrst to late charges, second to any other amounts dut': under this Security Instrument, and then to reduce tbt:: prineiplll bahuwe of the Note. If Lender receives a payment from Borrower for a delinqut::nt Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to tht': ddinquent paymt::nt and the late ehargc. If mort': than ont': Periodic Paymt':nt is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each paymt':nt 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 dut':. Voluntary prt::paymt::nts shall be applicd first to any prt::paymt::nt chargt::s and tht::n as describt::d in tht:: Nott::. Any application of paymt::nts, insuranl,;t:: pnlct::t::ds, or MiSl,;t::llant::ous 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 Payments are due under the Note, until tht:: Nok is paid in full, a sum (tht:: "Funds") to provide for payment of amounts due for: (a) taxes and assessmcnts and other items which can attain priority over this Security Instrument as a lien or cncumbnlllct:: on tht:: Propt::rty; (b) kast::hold paymt::Tlts or ground rents on the Property, if any; (c) premiums ti)l' any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance . -6(NE) (0407) @ 'nilia'sB ~ p 0757208954 Page 4 of 15 Form 3028 1/01