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f►�1�[III�:�C�L`� BORROWER COVENANTS that Borrower is lawfWly seised of the estatc hereby canveyed and has the rlght togrant and convey the Praperty and that the Froperty is unencutt�bered, exc.ept for encumbrances of record. Borrower warrants and will defend generally the tide to the Property against all claims and demands, snbJect to any encumbrances of record. THI5 SECUWTY INSTRUMENT comhines uniforu► coven�ants for nakianal use and non-uniform covenants with limited varlatlons hy jurLsdiction to constltute a wdform security instrument covering real An►Perty'. ' UNIFORM COVENANTS. Borrower and Lender cavenant and agrec gs follows: 1. Paym e�nt of Prinalpal, Yntaeet, Escaaw Itame. Prepaymart Charges, and Lats Chargas. �prrower shall pay when due the prindpal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow �ts�ns pursuant to 5ectton 3. Payments due under the Note and this Security Instiwnent sball be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Nvte or thls Securlty Inswm�ent is relurned to Lender unpaid, I.ender may require Wat aay or all sabsequent paymencs due under the Nate and this 5ecurity Instnu�ent be made in one or more of the followin� forms, as selected by Lender: (a) cash; (b) money order; (c) certifled check, bank check, treasurer s check or cashier's check, provided any such check is drawn upon an insdtutlon whose deposits at�e insured hy a federal agency, insirumentality, or endty; or (d) Electronic Furads Transfer. Payments are deemed received by Lender when recelved at khe location designated in tb,e Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return anypayment or parHal payment if the payment or parttal payments are insuft3cient to bring the Lo�n current. Lender raay accept any payment or partialpa ent insu�lcient to 6ring the Loan current, without waiver of any rlghts hereunder or preJudice to its r�� to refuse such payment or patGial payments in the future, 6ut L.ender is not obligated tn apply such payments at the time suc� payments are accepted. If each Pertodic Payment is applied as of its schedWed due date, tl�en Lender need notpay interest on unapplied funds. I..ender may hold such unapplied funds until Borrower makes payment ta b�ting the Loan cnrrent. �f Borrower does not do so within a reasonable period of Nme, Lender shall either apply such funds pr return tl�em to �or,rower. If nat applied earlier. such fw�ds will be applied to the outstanding prindpal balance under the Note immediatety prlor to foreclosuxe. No affset or claim which Borrower might have now or in the future against Y.eader shall relleve B�rrower firom makin$ paymeuts due under tlie Note and th�s 5ecurIty Inshutuent ar performing the covenants and agrcements secured by this 5ecurlty Instrument. 2. AppHoatla�► of Paymanta a� Proceedg. Except as otherwlse desc.ribed in this . Section 2, all payments accepted and applied b X.ender shall be applfed in the following order af priority: (a) interest due under the Note; (b) prind due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Peria c Fayment in the ordec in which it became due. Any remaining amounts shall be applied f3rst to late charges, secand to any other amaunts due wider this 5ecurity L�strument, and thean to rednce the principal balance of the Note. If Lender receives a payment fmnai Barrower for a de1in quent Perladic Payment which iaclades a sut�cient amount to pay any late charge due, the paymcnt may be applied to the delinquent payment and We late charge, If more than one Pedodic Payiment �s outstandin�g, Lender xaay apply arryp�yment received from $orrower bo the xepayment of the Periodte Payments if, and to the extent tbat, eacFi paytnent can be paid in full. To the extent tLat any cxcess exists a�ter the payment is applied to the full paymeat of one or more Perlodic Paynaents, xuc6 excess may be applied ta any late charges due. Voluntary prepayments sha11 be applied fi�st to any prepayment ch�rges and then as described in the Note. Any�ap�p licatlon of payments, ingurance proceeds, or MLscellaneous Proceeds to prindpal due under the Note shall not extend ar pnslpane the due date, or change the a�nount, of the Periodic Paywentc. 3. Funds for Esoraw Itema Borrower shall pay ta Lender on the day Perlodic Paytt►ents are due under We Note, undl We Note i�p�d in full, a sum (We "Funds") to provide forpayment of amounts due for: (a) taxes and assessments and other Items which can attain pdorlty over this �ecurity Inswmenk as a lien or encuno�brance on the Property; (b) leasehald payments or graund rents on the Property, if any; (c) premiums for any anci all insurauce required by Lender under 5ecdon 5; and (� Mortgage Insurance 7085222"7 0084135888 NEARP►SKA - 5ingla Family - Fnr�ls M�dRroddii Mac UNIFOFi1A IN6TFOJMB�T 1MTH� ��A(N� (oeio� wy. � m�s r�er�a: Form 3D29 1/01