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201001934
<br />vl NHCO t,OAll ti 502$$641$
<br />THIS SECURITY INSTRUMENT combines unfform covenants for national use and non-un'rfwm covenants with
<br />limited variations by jurisdiction to carastih+te a uniform security instrument covering rest properly.
<br />UNIFORM CpVENANTS. Borrower and Lender covenant and agree as foikaws:
<br />1. Paymwrt of Principal, interest, Ea»craw Items, Prppaymwat Cfaarppa, attd tale Cherg4s. Borrower shah pay
<br />when due the principal of, and interestan, thedebtevidenced by the Note and any prepaymentchargas and late charges
<br />due under the Note. Borrower shall also pay funds for Escrow Items pursuant tra Section 3. Payments due under the
<br />Note and this Secuity Inshument shall be made in U. S. currency. However, ff any check or other instrument received
<br />by Lander as payment under the Note nr this Security Instrument i$ retumied W L ender unpaid, Lender may require that
<br />any w all subsequent payments clue under the Note and this Security Instrument bQ made in one w mwe of the foNowing
<br />farms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's
<br />check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity; w (d) Electronic Funds Transfer.
<br />Payments era deemed received by Lender when received at the location designated in th® Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in 5ecticm 15. Lender may return any
<br />payment nr partial payment ff the payment ar partial payments are insufficient to bring the Lawn current. Lender may
<br />accept any payment w partial payment inaufCcient to bring the Loan currant, without waiver of any rights hereunder or
<br />prejudice to its rights to refuse such payment w partial payments in the future, but Lender is not obl~ated to apply such
<br />payments at the lima such payments are a~ppted. ff each Periodic Payment is applied ap of its scheduled due date,
<br />then Lender need not pay interest on unappfied funds. Lender may hold such unapplfed funds until Borrower makes
<br />payment to bring the Loan current. N Borrower does not do so wldain a reasonable period of time, Lender shall either
<br />apply such funds or rptum them to Borrower. H not applied earlier, such funds will be applied to the outstanding principal
<br />balance under the Nate immediately prior to foreclosure. hlo offset or claim which Borrower might have now w irr the
<br />future against Lender shah reNeve Bwrawrar from making payments due under ths Note and this Security ktstnoment
<br />or perkarmirrg the covenants and eegreprnerlts secured by this SecuNty Insti~wnent.
<br />~. Appticadon of Paymsrrfs or Proceeds. Except as otherwise described in this Section 2, alt payments accepted
<br />and appli®d by liarrcter shall be appfied in the tldk>wirtg order of priority: (a) interest due under the Note; (b) principal
<br />due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periods Payment in the
<br />order in which it became due. Any remaining amounts shaft be applied first to late charges, second to any other amdunis
<br />due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />H Lender receives a payment fi'orrt Borrower far a delinquent Periodic Payment which includes a sufficient anwunt
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. H mare than
<br />one Periodic Payment is outstanding, Lender may apply any payment received from &arrower to the repayment of the
<br />Periodic Payments ff, and to the extent dial, each payment can be paid in full, To the extant that any excess e>osts after
<br />the payment is applied to the full payment of one or mwe P®riodic Payments, such excess may be applied. to any late
<br />charges due. Voluntary prepaymems shall be appliedfirst to any pr®payment charges and then as deswibed in the Note.
<br />Any application of payments, insurance proceeds, ar Miscellaneous Proceeds Ica principal due under the Note shall
<br />not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow llama. Borrower shall pay to Lander on the day Periodic Payments are due under the Note,
<br />until the Note is paid in toll, a sum (the "Funds") to provide for payment of amounts due far: (a) taxes and assessments
<br />and other items which can attain priority over this Security Uutrument as a Uen or encumbrance on the Property; (b)
<br />leasehnki payments or ground rents on the Property, ff any; (c) premiums for any and all insurance required by Lender
<br />under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of
<br />the payment of Mortgage Insurance premiums in accordance with d+e provisions of Section 1 t]. These items are taped
<br />"Escrow Items. "At origination ar atany time during the term of the Loan, Lender may require that Community Assaciatian
<br />Dues, Fees, and Assessments, ff any, tae esorouved by t~artawer, snot such dues, Epee and assessments shaft be an
<br />Escrow Item. Borrower shall promptly iumish to Lender all notkes of amaun~ to be paid under this Section. &arrower
<br />shall pay tender die funds tq<' Escrow items unless Lender' waives Borrovw's obligation to pay the Funds for any or
<br />all Escrow Items. Lender may wanre Borrower's obligation to pay to Lender Funds for any w all Escrow Items at any time.
<br />Any such waiver may only be in writing. In the scent of such waiver, BorrnwsrshaU pay directly, when and where payable,
<br />the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, H Lender requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's
<br />obligation to make such payments and to provide receipts shall for all purposes b® deemed to be a covenant and
<br />agreement contained in dos Security Instrument, as the phrase "covenant and agreement" is used in Section 9. H
<br />Borrower is obligated to pay Escrow llama directly. pursuant to a waiver, and Borrower fails to pay the amount due for
<br />an F~ctow item, Lender may exercise its rights under Section 8 and pay such amount and Borrower shall then by
<br />gated under Ss- 9 lp raepay fo tender any sum amormt. tnsq rssnrolra Ilia waiver as fo ;irty.~ ail-Escrow
<br />Items at any time by a notice given in aocorctancs with Section 15 and, upon such revocation, Borrower shah pay to
<br />Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Leander may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at
<br />die time specified under RESPA, and (b) Hotta exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expend[iutes of tutors
<br />Escrow Items nr otherwise in acxwdance with Applicable Law.
<br />The Funds sha14 be held in an institution whose deposits are insured by a federal agency, instrumentafity, orentity
<br />(including Lander, ff Lender is an institution whose deposits ate so insured) w in any Federal Home Lean Bank. Lander
<br />shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lander shaA not charge
<br />Borrower tar holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items,
<br />unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless
<br />an agreement is made in wrifing orApplicable taw requires intent to be paid on the Funds, Lendershad not be required
<br />to pay Bgrrcewer any irrterest w earnings on the Funds. Borronner and Lender can agree in writing, however, that interest
<br />shah be paid on doe Funds. Lander shall ghre tv Bawnwer, without charge, en annual amounting of die Funds ~ required
<br />by RESPA.
<br />ff there is a surplus of FurMa held in esoraw, as defined under RESPA, Lender shall account th. B+arrawer for the
<br />excess tends in ~cwdance widr RESPA. If d~sre is a shortage of Funds held in psctovv, as dpfkapd under RESPA, Lender
<br />NEagASK/A--SIngW Family-l=armli~ Maa/t=roddle Yac trNIr~RM INS'rR11MEHT Form80261/01 Irif E7tal>r><,~/~
<br />® 1982007 Online Ovcurnanta, Inc. Page 3 of 4 NEEDEED 0705
<br />03-09-2010 9x39
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