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24 �008255 THIS S�CURITY 1NSTRUMENT combines uniform covenants for natianal use and non-uniform covenants with limited variations by jurisdiction tq constitute a uniform security instrument covering real property. UNIFURM COVENANTS, Borrower and Lender cavcnarrt and agree as follows: 1. Payment of Principal, Interest, �scrow Items, Prepayment Charges, and Late Charges. Borrower shall pay whcn due the principal of, and interest on, the debt evidenced by the Notc and any prepayment charges and late charges due under the Note. Barrower shall also pay funds for �scrow Items pursuant to 5ection 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 or this Security lnstrument is rcturited ta Lender unpaid, Lender may requirc that any or all subsequent payments due under the Note and this Security Instrument be madc in one or more of the following forms, as selected by Lender: (a) cash; (b) maney order; (c) certified check, bdnk check, treasurer's check or cashier's check, provided any such check is drawn upon aia institutian whose deposits are insured by a federal agency, instrumentality, vr entity; or (d) �lectronic Funds Transfer. Payments are dcc;med received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the noticc pravisians in 5ection 15. Lender may return any payment or partial payment if the payment or partial payix�ents are insuf�cient to bring the Loan current. I.endcr may accept any payment or partial payment insufficient to brin� the Loan current, without waiver of any rights hercund�r ar 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 arc ��ecepted. If each Periodic Payment is applied as <>f its sc:heduled due date, then Lender need not pay interest on unzpplied funds. Lcndcr may hold such unapplied funds until Barrower makes payments to bring the Loan current. If Borrower dc�es not do so within a reasonable period of time, Lender shall either apply such funds or return thc:m tc> Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Nate immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future a�ainst Lendcr shall relieve Barrawer from making payments due under the Note and this Security Instrument or performin�; thc covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proeeeds. �xcept as atherwise described in this Sectian Z, all payments accepted and applied by Lender shall be applied in the following ordcr of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3, Such payments shall be applied to each Feriodic 1'ayment in the order in which it became duc. Any remaining amounts shall bt applied first to late charges, second to any other amounts due under tlais Security Instrument, and then to reduce: the principal balance of the Note. If Lendc:r receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to tlie delinqucnt payment and the late charge. If more than one Periodic Payment is outstanding, Lend�r may apply any payment received from Borrower to the repayment of the Periadic Paymcnts if, and to the �xtent that, each payment can be paid in full. To the extcnt that any sxcess exists after the payment is applied to the full payment of one or more Periodic Payments, sucli cxc�ss may be applied to any late charges due. Voluntary prepayments shall be applied �rst to any prepayment charges and then as described in the Note. Any application of payrnents, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend c�r postppne the due date, or change the amount, of the Periodic Payments. 3. Funds far �serow Iterns. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Nate is paid in full, a sum (tl�e "Funds") to provide for payment of amounts due for: (a) taxes and assessrne�lts and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Froperty, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Martgage Insurance �-6(NE) �oao�>.oz � P�e 4 of 15 �(�] Initials: �.J � liiio56o�3 Form 3028 1101