420 LAUREL DR 2018-01-02 MF Import

UNIFORM COVENANTS. Borrower and Lender cotenant and agree as follows. 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepavment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due 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 Note or this Security Instrument is returned to Lander unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or =liter'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 od,cr location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if tho payment or partial payments are insufficient 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 such payment or parual payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted If 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 Borrower does not do so within a reasonable period of time, Lender 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 foreclosure No offset or claim which Borrower aught have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security instrument or performing the covenants and 2gree:ments secured by this Security Instrument all 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, payments accepted and applied by Lender shall be a,iplhed 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 Paymentdnany pother winch it became due u Any Security remaining am and nts shall be applied first to late charges, then to reduce the pnnchpal balance of the Note. If Lender receives a payment from Borrower for a delinquent Penodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the deh,iquet payment ment and the late charge If more than one Periodic Payment is outstanding, Lender may apply any payment from Borrower to the repayment of tie Periodic Payments if, and to the extent that, each payment can be raid in full. To the extent that any excess exists after the payment is applied to the fug payment prepayments y t of one or more Penodhc Payments, such excess may be applied to any late charges due. Voluntary shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance 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 full, a sum (the "Funds") to provlde for payment of amounts due for (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien 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 premiums, if any, or any sums payable by Borrower to Lender m lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10 These items are called "Escrow items." At onghnauon or at any time during the term of the Loan, Lender may require ,/�that Commumly IniInitials�{g{ry' �"' �•filWAl 100121 Page 4 of 15 Farm 3048 1101 m 200204050080