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201008200 THIS SECURITY TNSTRUMENT combines uniform oovenants for national use and tnon-uniform covenants with limited variations by jurisdiction to constitute a uniform security instn�ment coverin$ real Prop�TtY• UNIT�ORM COVENANTS. Barrower and I.ender covenant and ag�'ee as follaws: 1. Payrae.nt of Piincipal, Inte�t, F�troviv Items, Pxel�aYment Cha�'8es� and Late Ch�rges. Borrawer st�all pay when due the principal of, and iu�terest on, the debt evidenc�d by the Note and any P�PaY� �'Ses and late charges due un�r the Note. Bormwer shall also pay funds for F.scrow �tems pursuant to Se�tion 3. Pa�+ments due under the Note and Chis Secnrity Ins�t shall be made in U.S. currency. Hawever, if a�ay check or ot�r insCn�nt raceived by I.ender as paynaenC under the Note or this Se�urity Instrum�pt is returtaed ta Lar�der u�aid, Lend�r may requize tiiat any or all subsequcant payments due ur�.dcr the Note and this Secttri►ty Instrument be madc in one or more of tho follovving forms, as �r�a by �: �a� �; ro) ��r �� c�) �a��a �n�, �� ,�, �� or cashier's ch�ck, pmvid�d any such checic is drawn upon an institutian wb�ose deposits are insured by a federal agency, instrwanentality, or entity, or (d) Elecxronic Funds Transfer. Payments are deemed recei'ved by I�nder w&�u received at the location designated in the Note nr at sucdi other location as may be designated by Lender in accardance with the nodc� pmvisions in Section 15. L�nder may return anY PaY�t O P� PaY�t if the paym�nt or partial payments are in$u�aient to bring tho Loan c�rrent. L,ender may accept at�y payment or partial paynr�ent insuf�icient to bring thc Lo�n cuir�t, without waiver of any rights hem.under or prBjudice w its rights to refuse such payment or partial paymenCs in the future, but L�nder is mot obligateri to apply sutch payments at tha time such payments are accepted. If ea�h Peziod.ic Fayment is applied as of its scheduled due date, then �dex need noC paY interest on unapplied funds. Lender naay hold sucl,t unapplied fun�ds until Borrawer malces paymentr> to bring the Loan cuirent. Tf Barrower dcea not do so witbin a reasonable periad of time, I.ender shall eithcr apply such funds or r�turn them W Borrower. Xf not applied earlier, such funds will be applied to the outsta�ading prin�cip�l balan,ce under the Note a�am�ediatcly pri.or to foreclosuxe. No offset ar claim which Honrower might have now or in the future against �der shaU relieve Borrower from tnaking �aYments due uinder the Note� az�d this Sec�rity Instr�ent or pBrfnrnung the cove�uwts and agre�ments secured by this Security I�nstrtnt�ent. 2. Appliradon of P�y�meats or Pr�. Except as otlierwise describod in this Section 2, all PaY�� P� and appl►sd by L�ender shall be appliod in the following oxder of priority: (a) interest due under the Note; (b) Principal due r�md�r the Note; (c) amounts due under Secrion 3. Such payments shall be applied to each Periodic Payment in thc ord�r in wl�ich it be�ame dues. Any remaining amounts sha�ll be applied first to late c.�a�rges, second ta any other amounts due under this Security Instnmaent� and then to reduce the principal balance of the Nate. If L,�nder receives a payment from Sorrower far a deslinq�u�t Pcriod.ic Payu�ent which includes a sut'Picieiat amount to pay atxy late charge due. the payment may be applied to the delinque�nt payment and the late charge. If mare than o� Periodic Payrn�t is outstanding, I.�►der maY �PP �Y Payment received from Horrov�r to the repaymez�t of the Periodic Payments if, and to the �xtent that, each payment can be paid in full. Tn the ea�tent that any excesa exists after the payment is applie� to the full payment of one or more Periodic Payments, such eace�a may be applieri to any late ch�rges due. Volunta�Y PrePaYments shall be appli�d first to anY Prepay�nent cha�rges and then as described in the Note. Any application of paya�nts. ins�rance procee�Is, or Miscellaaeous Proceeds ta principal due under the Note sba11 �ot extend or postpone the due date, or change the a�nnunt, of the Periodic Payments. 3. �nds for F.�r+ow It�. Horrower shall pay to L� an the day Periodic PaymenCs are due under the Note, until the Note i� paid in full, a sum (thc "l�uuda") w provide for payment of amounts due for: (a) taxe� and assess�mts and otl�eac it�'ns which can attain prinrity over tlus Security Ira�trument as a lien or encumbrance on the Property: (b) lerasehnld paym�ts or ground r�nts an the ProPertY, if any; (c) premiums for amy and all � required by Lender ut�der Section S; and (d) Mortgage Insurance � RASKA - Single Family - Fennie Mae/Freddi6 Mac UNIFORM IMSTRUMENT -8(IM�1108171 Pape a or 16 Inroeu�: Form 30�$ 1(01