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zoii0004a BORR�WER COVENANTS that Borrower is lawfully sciscd of khe estate hereby conveyed and has thc riight to grant and wnvey the A;roperty and that the Property is uncncumbered, except for encumbranccs of record. Borrower warrants and will defen�d generally tbe title ta the I'roperty against all claims and dema.nds, subject to any P*+M�mbranccs of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limatod variations by jurisdiction to constitute a unifvrm security instrument coverin� real property. UNIFORM COVENANTS. Borrower and Lender covcnant and agrce as follows: l.. Payme,n�t oP Principal, Interest, F.�crow Ytems, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and irxterest on, the debt evidenced by tlxe Not� and any prepayment charges and latc charges due u.nder the Note. Borrowcr shall alsa pay funds for Escrow IteAns pursuant to Section 3. Payments due under the Note and this Security Instrvment shall be madc in U.S. currency. Howev�r, if any check or other instrument received by Lender as payment under the Note or ilxis Security Instrument is returned to I,cndcr wapaid, Lender may require that any or all subsequent payments due under the Notc a� this Security Instrument be made in one or more of the following fvrms, as selected by Lender: (a) cash; (b) money order; (c) certi�ed check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whase deposits are insured by a federal agency, instrumentality, or entity; or (d) �lectronic Funds Transfer. Payments are deea�ued received by I,ender whcn received at the locatzon designated in the Note or at such other location as may be designated by Lender in accordance with thc notice prvvisioaas in Section 15. Lender may return auy payment or partial payment if the payment or partial payments aze insuFficient W bring the Loan current. Len�der may accept any payment or partial paymenk insuff'icient to bring the Loan current, without waiver of any rights herennder or 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 are accepted. If each Feriodic Payrnent is applied as of its sc�Zeduled due datc, then Lcnder need not pay intorest on unapplied fiwds. Lender may hold such unapplied funds until Borrower makes paymcnt ta bning the Loan� current. Tf Borrower dca�a not do sn within a reasonable period af timc, I.ender shall cither apply such funds ar return them to Borrower. If not applicd earlier, such funds will bc applied to che outstanding principal balance under the Note immediatcly prior to foreclosure. No offset ox elaim which Bonrower might bave now or in the future against Lender shall relieve Bonrower from making payments due under thc Notc and this Security Instrument or performing thc covcnants and agreemenis secured by khis Security Instrument. 2. Applieation of Payments or Proceed�. Except as otherwise described in this Section 2, all payments accepted and apphed by Lender shall be applied in tho fallowing order of priority: (a) interest due under the Notc; (b) principal due nnder the Note; (e) amounts due under Section 3. Such payments shall bc applieci to each Periodic Payment in the nrder in which it became due. Any remaining amaunts sha11 be applied fiust w late c.�arges, seco�d to any ather an�ount,s due undcr this Security Instrument, and khen to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquont Poriodic Payment which includes a suf�cient amount to pay any late cbarge due, the payment may be applied tv thc delinquent payment and the late charge. If more khan one Pcriodic Payment is outstanding, I.ender may apply any payment received from Borrawer ta the repayment of the Pexiodic Payments if, and to thc extent that, each payment can be paid in full. To thc extcnt that any excess exists after the payment is applied to the full payment of one or more Periodic Payn�nts, such excess ma.y be applicd to any late charges duc. VnYuntary prepayments shall be applied first to any prepayment ctiarges and then as described in the Note. Any application of payments, insurance procceds, ar Miscellaneous Prnceeds to prineipal due under the Note shall not extend or pastpont the due date, or c��ange the amount, of the Feriodic Payments. 3. �nds for E�row Itema. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, wntil the Note is paid in full, a sum (the "Funds") to provide fvr payment of amounts due for: (a) taxes an�d assessments and other items which can attain priority over this Security Instrument as a lien ar encumbrance on the Property; (b) lease�old payments or ground renGs on the Propexty, if any; (c) premiums for any and all insurance x�quircd by Lender under Seckion 5; and (d) Mortgage Insurance 230q019749 D V6ANE NE8R43KA - Single Famity - Fannis MaelFrrddl� Mac UNIFORWI IN3TRUMENT WIIF{..�IERS �$/��N��10810) P�q� 4 of 16 Irdtiels:�� Form 3028 1/01