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201101630
<br />THIS SECURITY INSTRUMENT combines uniform covenanls for natiooal use and non-uniform covenants with
<br />limited variations by jurisdicllon to constitute a uniform security instrvment covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment CLarges, and Late Charges. Borrower shall
<br />pay when due the principal o� and interest on, che debt evidenced by the Note aad any prepayment charges and late
<br />chazges due mder ihe Note. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due
<br />under the Note and this Security Ivstrument shall be made in U.S. currency. However, if any check or other
<br />instrument received by Lender as payment under the Note or this Secarity Instrument is rehuned to Lender unpaid,
<br />Lender may require tUat any or all subsequent payments due under the Note and this Security Inshument be made in
<br />one or more of the foliowing fortns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
<br />ueasurer' s check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured
<br />by a federal agency, instrumentality, or entity; or (d) Elechonic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return
<br />any payment or paztial payment if the payment or partial payments are insufficient to bring the Loan current. Lender
<br />may accept any payment or partial payment insufficient to bring tfie Loao curceat, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or paztial payments in the fumre, but Lender is not
<br />obligated to apply such payments at the time such payments aze accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />un61 Bonower makes payment to bring the Loan current. If Borrower dces not do so within a reasonable period of
<br />tune, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
<br />wlvch Bonower might have now or in the future agaznst Lender shall refieve Borrower from msking paymenu due
<br />under the Note and this Security Instrument or perfornung the covenants and agreements secured by this Security
<br />Instrument.
<br />2. AppHcation of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts shall be applied 5rst to late charges, second
<br />to any other atnounts d¢e under this Security Instrttment, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment &om Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any lau; charge due, khe payment may be applied to the delinquent payment and the late chazge. If
<br />more than one Periodic Paytnent is outstanding, Lender may apply any payment received from Borrower to the
<br />repayment of the Periodic Payments if, and to [he extent that, each payment can be paid in fixll. To the extent that
<br />any excess exists after the payment is applied to rhe full payment of one or more Periodic Payments, such excess may
<br />be applied to any late chazges due. Voluntary prepayments shall be applied first to any prepayment charges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds W principal due under the Note
<br />shall not extend or postpone the due date, or chauge the amount, of the Periodic Paytnents.
<br />3. �nds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br />Note, unAl the Note is paid in fiill, a sutn (the "Funds") to provide for payment of amounts due for: (a) ta�ces and
<br />assessments and other items which can attain priority over this Security Instnunent as a lien or encwnbrance on the
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiwns for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage Insm•ance premiums in accordance with the provisions of Section ] 0.
<br />These items are called "Escrow Items." At origination or at any Cime during the term of the Loan, Lender may require
<br />tk�at Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay I.ender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in wriring. In the event of such waiver,
<br />Borrower shall pay ditecdy, when and where payable, the amounts due for any Escrow Items for wlrich payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />within such tune period as Lender may requ'ue. Borrower's obligaUOn to make snch payments and to provide receipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated co pay Escrow Items directly, pursuant to
<br />a waiver, and Bonower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount
<br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounis, that are tlien required
<br />under trus Secrion 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pemut Lender to apply the Funds
<br />at the time specified under RESPA, and (b) not to eacceed the maximum amount a lender can require under RESPA.
<br />Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items or otherwise in accordance with Applicable Law.
<br />Borrower
<br />4SKA--Single Family--Fannie Mee/Freddie Mac UNIFORM INSTRUMENT - MERS pocMaglc �0'�3
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