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� 2oiao9si3 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and cnnvey the Property and khat the Property is unencurnbered, except for encurnbrances nf record. Borrawer warrants and will defend generally the title ta che Property against all claims and demands, subject to any encuznbrances of recurd. THIS SECURIT'Y INSTRUMENT combines uniform cavenants for national use and non-uniform covenants with limited variations by jurisdiction to canstitute a uniforrn security instrument covering real property. UNIFORM COVENANTS. Borrawer and Lender covenant and agree as follows: 1. Paymont of Principal, Interest, Escrow Items, Prapayment Charges, and Late Charges. Borrower shall pay when due the principal 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 Items pursuant to Section 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 Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or rnore of the f�llowing forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upan an institution whose depasits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received hy Lender when received at the location designated in the Note or at sixch other location as may be designated 6y Lender in accordance with the notice provisions in Section 15. Lender may return any payment ar partial payments if the payrnent or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payrnent insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment oc partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then �,ender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such fands will be applied to the outstanding principal balance under the Note irnmediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve B�rrower frorn making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this 5ecurity Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in chis Section 2, all payments accepted and applied 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 1'eriodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second t� any other �$R4$K�1 — Single Famlly -- Fanaia Maa/Freddie Mae UNIFORM YN811tiJh�NT Fam 3 (3CC - G3028-04 (09/Ol) (Page 4 of19) Tniti