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�oioo�s5� <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform <br />covenants with limited variations by jurisdiction to constitute a unifarm security instrurnent covering real <br />property. <br />UNIFORM COVENANTS. Barrower and Lendsr covenant and agree as follows: <br />1. Payment of Principal, Interest, Escrow Xtems, Frepayment Charges, and Late Charges. <br />Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any <br />prepayment charges and late charges due under the Note. Borrawer shall also pay funds for Escrow Items <br />pursuant to Section 3. Payments due under the Note and this Security Tnstrument shall be made in U.S. <br />currency. However, if any check or ather instrument received by Lender as payrnent under the Note or this <br />Security Instrument is returned to I.ender unpaid, Lender may require that any or all subsequent payments <br />due under the Note and this Security Instrument be made in one or more of the following forms, as <br />selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or <br />cashier's check, provided any such check is drawn upon an institutian whose deposits are insured by a <br />federal agency, instrurnentality, or entity; or (d) Electronic Funds Transfer. <br />Payments are deemed received by Lender when received at the location designated in the Note or at <br />such other location as may be designated by Lender in accordance with the notice provisions in 5ection 15. <br />Lender may return any payment or partial payment if the paynnent or partial payments are insufficient ta <br />bring the Loan current. I,ender may accept any payment or partial payment insufficient to bring the Loan <br />current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial <br />payments in the future, but Lender is not obligated to apply such payments at the time such payments are <br />accepted. If each Periadic Payment is applied as af its scheduled due date, then Lender need not pay <br />interest on unapplied funds. Lender may hnld such unapplied funds until Borrower makes payments to <br />bring the Loan current. If Borrower daes not do so within a reasonable period of time, I,ender shall either <br />apply such funds or return them to Borrnwer. If not applied earlier, such funds will be applied to the <br />outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which <br />Borrower might have now or in the future against Lender shall relieve Borrower from making payments <br />due under the Note and this 5ecurity Instrument or performing the covenants and agreements secured by <br />this Security Instrument. <br />z. Applicatian of Fayments or Proceeds. Except as otherwise described in this Section 2, all <br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest <br />due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments <br />shall be applied to each Periodic Payrnent in the order in which it becarne due. Any remaining amaunts <br />shall be applied first to late charges, second to any other amounts due under this Security Instrument, and <br />then to reduce the principal balance of the Note. <br />If Lender receives a payment frorn Borrower for a delinquent Periodic Payment which includes a <br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and <br />the late charge. If more than one Periodic Payrnent is outstanding, Lender may apply any payment received <br />from Borrower ta the repayrnent of the Periodic Payments if, and to the extent that, each payment can be <br />paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or <br />more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall <br />be applied first to any prepayment charges and thsn as dascribed in the Note. <br />Any applicatian of payments, insurance proceeds, or Miscellaneous Proceeds ta principal due under <br />the Nate shall not extend or postpone the due date, or change the amount, af the Periodic Payrnents. <br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due <br />under the Note, until the Note is paid in full, a surn (the "Funds") to provide for payment of amounts due <br />for: (a) taxes and assessments and ather items which can attain priority over this Security InsCrument as a <br />lien or encurnbrance on the Froperty; (b) leasehold payrnents or gxound rents on the Property, if any; (c) <br />premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance <br />�-fi1NE1 �oao��.oz <br />Paga 4 of 15 <br />i��s�ais: � <br />.�IO <br />[�E�!��I�I�I��-Y�Z� <br />Form 3028 1/09 <br />