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201200048 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Properiy is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against a11 claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifonn covenants with lixnited variations by jurisdiction to constitute 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 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 due under the Note and this Security Inst�ument shall be inade in U.S. currency. However, if any check or other insh u.inent received by Lender as payment under the Note ar this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payxnents due under the Note and this Security Instruinent be made in one or more of the followimg forn7s, as selected by Lender: (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 deposits are insured by a federal agency, instrL�inentality, or entity; or(d)Electronic Funds Transfer. Payments are deemed received by Lender when recei�ed at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payxnent or partial payment if the 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 ar prejudice to its rights to refuse such payxnent or partial 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 xrnakes payments 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 might ha�e now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perfornung the covenants and agreements secured by this Security Instruinent. 2. Applicatiort of Payments or Proceeds. Except as otherwise described in�his Section 2, all payinents 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 due. Any remaining amounts shall be applied first to • late charges, second to any other amounts due under this Security Instniment, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payrnent may be applied to the delinquent payment and the late charge. If more than one Periodic Payrnent is outstanding, Lender may apply any payment 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 excess exists after the payment is applied to the fu11 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. 24000018 NEBRASKA-SingleFamily-FannieMae/FreddieMacUNIFORM INSTRUMENT Form30281/01 VMP Q VMP6(NE)(1105) Wolters Kluwer Fnancial Services Page 4 of 17