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.-�' ��l '� � I�� = � �� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Progerty and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the tide to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines nniform covenants for national use and non-uniform covenants with litnited variations by jurisdiction to constitute a uniform security instrument covering real property. LTNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, dnterest, Escrow Items, Prepayment Chargea, and Late Charge,s. 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 dae 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 1Vote or this Security Instrument is reiurned to Lender unpaid, Lender may require that any or all subsequent payments dae under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; @) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the noHce provisions in Sectiott 15. Lender may retum any payment or partial payment if the payment or partial payments are insuff'icient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse snch payment or partial payments in the future, bnt Lender is not obligated to apply such payments at the time such payments are accepted. ff each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to brIng the Loan current. If Bonower does not do so within a reasonable period of time, Lettder shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclbsure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments dne under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proce�s. Except as otherwise described in t6is 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) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became dne. Any remaining amounts shall be applied first to late charges, second to any other amounts dne under this Security Instrument, and then to reduce the principal balance of the Note. ff Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply anypayment 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 eaccess exists after the payment 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 payments, ins�rance 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 Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in fiull, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a llen or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance 001122567955 Citbank 3.2.47.14 V3 Nff3RASICA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMB�IT WITH Dg�,S Kt, j2 �-6A(Nq (oeio� Paga 4 of 15 Initla�s: � Form 3028 1/01