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�01106623
<br />TOGETHER WITH ell the improvemems �w or hereafter erected on the pmgerty, aml all easements, agpurtenances,
<br />and fixtures now or hereafter a part of the property. All replacements and additioas shall also be covered by this Security
<br />InsCnment. All oF the foregofng is refertal ro in this Securhy Instrument as the "Property. "
<br />BORROWER COVENANTS that Borrower is lawfiilly seised of the estate hereby conveyed and has the right to grant
<br />a�l convey the Property end that the Property ia unencumbered, except for encumbranca of record. Bonower wazrants and
<br />wlll defead generally the dde w the Property against all claims and demands, subject to any e�umbrances of r�ord and liens
<br />for taxa for the cunent year �t yet due and payable.
<br />THIS SECURITY INSTRUMENT combines uniform covenaats for natlonal uae and non uaiform covenanta with
<br />limited varlatloas by jutisdicdon to consdUUe a uniform securlry instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant anil a�ree as follows:
<br />1. Payment of PrGtcipal, lnter�t, Evcrow Items, PrePaYrt►ent Chargn. and Late CMargca. Borrower shell PaY
<br />when due the principal of. aad inte�est on, the debt evldenced by the Note aad anY PrePaYment cLarges aad Jate charges due
<br />under the Note. $orrower shell also pay fimds for Escrow Items pursuant to Secdon 3. Payments due under the Note and this
<br />Secnrity Insttvment shell be made in U.S. currency. However, if azry check or other instrument r�eived by L�nder as
<br />PaYrr►ent uffilet the Note or this Securiry Instrument is returned to Lender anpaid. Lender may require that any or all
<br />subsequent gaymenta dne under the Note and this Seciuity Insuument be made in one or mom of the following forms, as
<br />se(ecte3 by Lender: (a) cash; (b) money otder; (c) certifled check, bank ch�k, ueasuret's c]ieck or ceahier's ch�k, provided
<br />atry such cheek is drawn ugon en insritutioa whose deposits are insur� by a federal agencY, insavmentality, or e�ity: or {d}
<br />Electronic Fnnds Tcansfer.
<br />Paymenis are deemed received by I.encler when reaeived at the lacatioa desig�ated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in 5ectioa 15. Leader may retum any
<br />PBYment or P� PBYment if the payment or Partial PaYments are insufficient to bring the Loan curtent. Lender may accept
<br />�5' PaY�� �' P�� PaYa►eat insufficient w brjng the I.�n current, without waiver of azry rights hereunder or prejudice to
<br />its rights ro refi�ae such PaYment rn' Partial Paymeats in the fiuure, but Lender is not obligated to apply such payments at the
<br />tlme such paymems are accepted. If each Periodic Payment is applied as of its echeduled due date, then Lender need not PaY
<br />interest on unapplied fimds. I.ender may hold such imappllai fimds undl Borrower makes payment w bring the Loan current.
<br />If Bormwer does not do so within a reasonable period of time, Lender shall either apply such funds or retum them to
<br />Borrower. If not applied earlier� auch funds will be applied w the outstend'mg Principal balance under the Note immediately
<br />prior to foreclosnre. No offset or claim w}uch Botrower might 6ave now or in the fuwre against Lender shall relieve
<br />Bortower fram makiag Paymeats dne under the Note and this Security Instrument or performing the wvenants and
<br />agreements secured by this Securiry Instrument.
<br />2. ApplicaHon of Payments or Proceeds. Except as atherwise descri6ed in this Secdon 2, all payments accepted and
<br />applled by I.ender shall be applied ln the following order of priority: (a) iaterest due under the Note; (b) principal due under
<br />the 1Vote; (c) amounts due under Sectioa 3. Such payments shall be applied to each Periodic Payment 3n the order in which it
<br />became due. Any remaining emowits shall be applied firet w late charges, second to azry other awounts due under this
<br />Secutity Instnwent, and then to reduce the prtacipal balance of the Note.
<br />If Lender receives a payment from Barrower for a delinquent Periodic Payment which includes a sufficieat amounc to
<br />PaY �Y late charge due, the payment may be applied to the delinquent payment and the late charge, ff more than one Periodic
<br />Payment is outstand9ng, Lender may apply eny payment t�ceived from Boaower to the re�yment of �e Pedodic Paytnents
<br />lf, aad W the extent that, each payment can be paid ia full. To the extent tl�aat any excess exists after the payment is applied to
<br />the fiill payment of one ot more Perlodic Payments, such excess may be applied w any late char�es due. Voluntary
<br />P�Ya►ents shall be applied fust w anY PrepaYment charges and then es descn'kred in the Note.
<br />A�ry appllcaHoa of paymems, ins.�rancg ProCeeds� oI MiscelleII�us Pi'oceeds to principal dne nnder ihe Note shell twt
<br />extend or postpone the due date, or cLange the amount, of the Periadic Payments.
<br />3. Funda for Eacrow Iteme. Boaower shall pay ro Lender on the day Periadic Payments are due under the Note,
<br />undl the Note is paid in full, a sum (the °Funds") w provide for payment of amounts due for: (a) taxes and essessmenta and
<br />other itema whtch can attain pdariry over thts Securlty Inatrument as a lien or encumbrence oa the Property� (b) leasehold
<br />Paymema or $round rents on the Properry� if aay: (o) PTemiums for auy and all 3nsivance required by Lender under Sscrion 5;
<br />and (� Mortgage Ias�rance premiuma� if anY� �' �Y � PaYable by Borrower w Leader in lieu of the payment of
<br />Mortgage Inanrance premiums in accordance with the Provislone of Secrion 10. These items are called "Escrow Items." At
<br />origination or at azry dme dnring the term of the I.oan, I.ender may require that Communfty AssociaHon Du�, Fees, and
<br />Aascqsments, ff aay� be escrowed by Borrower, aad euch dnes, fees and assessmente shall be an Escrow Item. Borrower ahaU
<br />P�P�Y �h m Lender all notices of amounte to be paid under d►is Secdon. Borrower shaU pay Lender the Funds for
<br />Escrow Items unless Le�er waives Borrower's obligaHon m pay the Punds for any or all Escrow Items. L.ender may waive
<br />Borrower's obligation m pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only � in
<br />wr7Hng. Ia the event of such waiver, Borrower shall pay direcdy, when and where payable, the amouras due for any Escrow
<br />Items for which payment of Fnnds has been waiv� by Lender and. if L.ender re4��ims, eha11 furaieh ro Lender F�eiPts
<br />evidencing such payment wIthin such time period as I.endar may aequire. Boaower's obllgation to make such payments and
<br />to provide receipts shall for all purposes be deemed to be a covenant end agreement contained ia this Security Instrument. as
<br />We phrase "cove�nt and agreement" is used 1n S�tion 9. If Borrower is obligated ta pay Escrow Items directly, Purauant ro
<br />a waiver, a�l Borrower fails to �y the amouM due for an Eacrow Itan, Leader may exerc9ae its rights under Se�ttoa 9 aad
<br />I�Y auch amount aud Brnmwer ahall thea ire obiigated under Section 9 to repaY tn Lender a�ry such amount. Lender may
<br />revoke the waiver as to azry or all Escrow Items at aay dme by a aotice given in accordance with Sectlon 15 and, upoa such
<br />revocation, Borrower shall pay to Lender all Puucls, and in euch emouats, that are then required under this SecNon 3.
<br />Leader may, at any time, collect and hold Funds in an amount (a) sufflcient to permic Lender ro apply the Funds at the
<br />dme specifleci under RESPA. and (b) not to exceed the maximum amount a lender can requite under RESPA. L,ender shall
<br />�timate the amount of Punds due on the l�sia of curcent data aral masoaable eatimates of e�endit�res of future Escrow Items
<br />or otherwise )n accordance with Applicable Isw.
<br />The Punds shall ix held in an institutton whose deposits are iasnred by a faleral age�Y, inetrumentality, or entity
<br />(includ'mg Le�ler� 1f Lender is an insdtutioa whose deposits are so iasured) or in any Federai Home L�n Bank. Lender
<br />shall apply the Fuads ro�y the Escrow Items � later thaa the time specifled under RESPA. I,ender shall not charge
<br />Borrowet far halding and applying the Fimds, annually enalyzing the eacrow accauat, or verifying the Esctow Items, aniess
<br />I.ender pays Borcower interest on �e Funds and Applicable Law permits Lender to make such a c6arge. Unless an agreeme�
<br />ia made in wridng or Applicable Law requires Interest w l� paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earninga oa tLe Fwide. Borrower a�l Lender can agree 3n wridng. however. tLat iuterest shall be paid on the
<br />Pimda. Lender shall give W Borrower. without charge. en anuual accoundag of the Ftmds as required by RESPA.
<br />If there is a smplus of Funds hekl in eacrow, as de8necl under RESPA, I.ender shall account ro Borrower for the
<br />excess fimds in accordance whh RESPA. If there is a shortage of Puads held in escrow, as deflned under RESPA, Lender
<br />For� � irot
<br />COLONADO—Sh�gle Femily—FenNe Mee/Fraddie Meo UNIFORM uYSTRUMENT
<br />e.�k.�. sr.+�m.. �., s�. cro�a, aw r� eeo-�eo emn000 U+�se � ol' ��+1
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