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201001205 THIS SECURITY INSTRUMENT combines uniform covenants far 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 ol" 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 Nate:. Harrower shall also pay funds for Escrow ]terns 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 other instrument received by Lender as payment under the Note ar 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 the fallowing forms, as selected by Lender: (a) cash; (b) mangy ardor; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, ar entity; ar (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Nate or at such other location as may be designated by bender in accordance with the notice provisions in Section 1 S. Under may return any payment or partial payment if the payment or partial payments arc insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the i.,oan 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. if each Periodic 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 Harrower 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 he 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 Instrument or performing the covenants and agreements secured by this Security lnstrument. Z. 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 fallowing order of priority; (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such paymerts 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 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 a sufficient amount to pay any late charge due, the paymerrt may be applied to the delinquent payment. and the late charge. ]f 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. Ta 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 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 Nate shall not extend or postpone the due date, or change the amount, of the Periodic Payments, 3. Funds for Escrow Items. Barrawer shall pay to Lender on the day Periodic Payments are due under the Note, until the Nate is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security lnstrument as a lien or encumbrance on the Property; (b) leasehold payments ar ground rents an the Property, if any; (c) premiums far any and all insurance required by Lender under Section S; and (d) Mortgage Insurance /~ 0110301335 -~(~~) (gAUI).U2 P~ge4 of 15 Form 3p28 1101 ~ ~ ~\ ~r