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2QiD4845i THIS S�CURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variatipns by jurisdiction to canstitute a uniform security instrument covering real property. UNIFOl2M COV�NANTS. Borrower and Lender cov�nant and agre� as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and I.ate Charges. I3orrower shxll pay wlien due the principal of, and interest on, the debt evideneed by the Note and any prepayment chargcs and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant Co Section 3. Payments due under the Note and this 5ecurity Instrument shall be made in i7.S. currency. Hawever, if any check or other instrument received by Lender as payment under the Nate or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments duc under thc Note and this Security Instrument be macic: in onc or mor� oF the follawing forms, as selected by Lender: (a) cash; (b) maney order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such ch�ek is cirawn upc>n an institution whose deposits are insur�d by a federal agency, instrumcntality, c>r entity; or (d) Electronic Punds Transfer. Payrnents are deemed received by Lender when received at the location designated in the Note or at such other locati<>n xs may be designated by Lender in accordance with tlYe natice provisions in SectiUn 1 S. Lender may return any payment or partial payment if the payment or partial payments are insuf�cient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Laan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payment5 in tl�e future, but Lender is not obligated tp apply such payments at the time sucli payments arc accepted. If �ach Periodic Payment is applied as of its scheduled due date, then r,��aer p��a not pay interest on unappli�d funds, Lender may hold such unapplied funds until Borrowcr makcs payments to brin�; tlic Loan current. If Borrower daes not do so within a rcasc�nahle period of time, Lender shall either apply such funds ar return them to Barrawer, If not applied earlicr, such funds will be applied to the outstanding principal balanee under the Note immcdiatcly prior to foreclosure. No offset or claim which Borrower mi�ht have naw ar in the future against Lcnder shall relieve Borrower from making payments due ander the Npte and this Security Instrument or performing the covenants and agreements secured by this Se:curity Tnstrument. 2. Applicatian af Payments ar Proceeds. Except as otherwise described in this Section 2, all payments accepted and applicd by I.,ender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. 5uch payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this 5ecurity Instrument, and thcn to rcduce the principal balance c�f thc Nc>tc. If Lender rcccives a payrnent from Borraw�r for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the paym�nt may be applicd to thc dclinquent payment and the late charge. If more than one Periodic Payment is autstanding, Lender may apply any payment reccived from Borrower to the repayment of the Periodic Payments if, and tc� th� extent that, eacl� paymcnt can be paid in full. To the extent that any excess exists after the payment is applic:d to the full payment of one or mare Periadic Payments, such excess may be applied to any lat� charges due. Voluntary prepayments shall be applied first to any prepayment charges and then a� described in thc Note. Any application of payments, insurance praceeds, ar Miscellaneous Proceeds to principal due under the Nate shall not extend or postpone the due date, or change the amount, of tlie P�riodic Paymct�ts. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payinents arc duc under the Note, until the Note is paid in full, a sum (the "Funds") to pravide for payment af ampunts due for: (a) taxes and assessments 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 Property, if any; (c) premiums far any and all insurance required by I,ender under Section 5; and (d) Mortgage insurance \�, 1111056206 Initials: �� �-6(NE) �oao��.oz P�e4 of 15 Farm 3028 1/Q1 �