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�a1�09653 THIS SECURITY IN�TRUMENT combines uniform covenants for natianal use and non-uniform covenants with limited variations by jurisdiction ta constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment af R-incipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sha11 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 Instrurnent shall be made in U.S. currency. However, if any check or other instrument received by Lender as payrnent under the Note or this Security Instrument is returned to I.ender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Tnstrument be made in one or more of the following forms, as selected by I.Ender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check ar cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; ar (d) �lectronic Funds Transfer. Payments are deemed received by I.ender when received at the locatian designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in SecCion 15. I.ender may return any payment or partial payment if the payment or partial payrnents axe insuf�cient to bring the L,oan current. L.ender may accept any payment or partial payment insufficient to bring the Loan current, withaut waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not abligated to apply such payments at the time such payments are accepted. If each Periodic Payrnent is applied as of its scheduled due date, then T.ender need not pay interest on unapplied funds. I.ender may hald such unapplied funds until Borrower makes payments 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 nat applied earlier, such funds will be applied to the outstanding principal balance under the Note irnmediately prior to foreclosure. Na affset or clairn which Barrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) arnounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to laCe charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If L,Qnder receives a paymenC from Borrower for a delinquent Periodic Payrnent which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payrnent and the late chazge. If more than one Periodic Fayment is outstanding, I.ender may apply any payrnent received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the paymenC is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of paynnents, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payrnents. 3. Funds for Escrow Items. Borrower shall pay to I.ender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of arnounts due for: (a) taxes and assessments and other items which can attain priarity over this Security Instrument as a lien or encumbrance on the Froperty; (b) leasehold payments or ground rents an the Property, if any; (c) prerniurns for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance NE6RA5KA - Single Family - Fannia MAe/Fraddie Mac UNIFORM INSTRUMENT �-BINE) 108111 Page 4 of 15 Initials m 302$ 7/Q1 +. .