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201107695 BORROWER COVENANTS that Borrower is luwflilly seised of tlie estate hereUy wnveyed and l�as the right Co grant and convey the Property and [ha[the Property is unencumbered, except f'or encumbrances of rccord. Borrower warrants and will defend�encrally the tiCle to the ProperCy a�ainsC all claims and demands, subject to anp encumbrances oC xecord. TFfIS SECORITY 1NSTRUMENT eombinas wiiform covenants for naYional use ai�d non-uniform covenn�its witli limited variations by jurisdiction Co constiCUte a uniform security instrument covering real property. Uniform Covenants. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sUall pay when due the principal of, and interest on, the debC evidenced by tbe Note and any prepayment charges and late charges due under the Note. Borrower sh111 11so pay funds for Escrow Items pursuanC to SecCion 3, Payments due under the Note and tl�is Security InsUument shall be made in U.S. currency. Howeve�, if any check or other instxumenC received by Lender as payment under the Note or this SecuriCy InstrumenC is rcCUrned to Lender unpaid, Lender may require WaY any or all subsequent payments due under the Note and this Security Ivstrument be made iv one or more of the following fonns, .is selected by I,endcr: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposiCS arc insuxed by a federal agency, instrumenYaliCy, or entity; or(d}Electronic Funds Trans�ler. Payments are deeined received by Lender when received at the location designaced in Che Note ar aC sucU other location as may be designated by Lendcr in accordance with the uoCice provisions in SecCion 15, Lender may return any payment or paccial payment if the payment or partial paymenYs are insufficient to bring Ehe Loan current. Lender may aoce�C any payment or partial payment insufficient to 6ring the Lonn currenC, without waiver of any rights liereunder or prejudice [o its rights to refuse such paymeut or partial payments in the future, Uut I,ender is not obligated to apply such payments aC the Cime such payments are acoepted. Tf each Periodic Payment' is applied as oP its scheduled due date, then Lender need not pay ii�terest on unapplied funds. Lender may hold such unapplied fimds until Borrower makes payments to Uring the Loan current, If Borrower does not do so within a reasova6le pariod of[ime, Lender shall either apply such funds or return ffiem to Bon�ower. If no[applied earlier, such funds w311 be applied to the outstanding principal balance under tlie Note immediately prior to foreclosure. No offsec or claim which Borrower might have now or in the future against Lender shail relieve Sorrower from making payments due under the Note and thie SecuriCy InsCivmeu[or performing Che covenauts and agreements secured by tliis Security Instrument. 2. Application of Payments or Proceeds. �xcept as otherwise descriUed in this Section 2, all puyments accepted and applied by Lender shall be applied in the following otcler of priority: (a) interest due under Che Note; (b) prineipal due under Che Nolc; (c) unounCs due under 5eccion 3. Sueh paymenCs shall be applied to each Periodic Paymenf in the order in which it 6ecame due. Any remaining amounta sliall be appiied firsC fo IaCe cliarges, second Co uiy other uvounts due under this Secnrity Inshmnent, .md t1�en to �educe the privcipal balance of the Note. If I,ender receives a payment from Borrower for a delinquent Peciodic Payment which includes a sufYicient amount to pay 1ny late eklrge due, the payment may Ue appliecl to the dalinquenC paymenc and thc laCe charge, If moce tUan one Periodic Payment is outstanding, Lender may apply any paymenC received from Borrower to the repayment of fhe Periodic PaymenCS if, and fo the exCenC that, eaeh payment can be paid in full. To Ihe extent CliaC any excass exists after the payment is applied to the full payment of one or nxore Periodic Paymen[s, such excess may be applied to a��y late charges due. Voluntary prepayments shall Ue n�plzed first to viy prepnyment charges and then as described in tl�e Note. !�231189 NE8RA51<A-Singlc Family-Fanni�M�BIFreddle Mac 11NIFOPM INSTqUMENT Form 3028 1101 VMP Q9 VMPfi�NE�I1106) Wolters Kluwer Finencial Services PaOe 4 of 1)