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20120008� 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 Property is unencumbered, except for encumbrances of record. Bonower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to cons�itute a uniform security instrument covering real properly. Uniform Covenants. Bonower 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 sha11 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 insmiment received by Lender as payment under the Note or this Security Instrument is returned to Lender 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 che,ck 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 I�nder when received at the location designated in the Note or at such other location as may be designaterl by Lender in accordance with the notice provisions in Section 15. Lzndes may ret�n. any payment or partiai payment if the payment or partial payments aze insufficient to bring the Loazz eunent. L,ender may accept any payment or partiai payment insufficient to bring the Loan current, witfiovt waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments ia the fu�re, but Lender is not obligated to apgly such payments at the time such payments a.re accepted. If eaeh Periodic Payment is applied as of its scheduled due date, then Lencter nee�i not pay interest on unappiiec� fvads. I�der may hold such unapplied funds untiI Borrower makes payments to bring the Loan current. If &�rrower does not do so within a reasonable peri� of time, Leader shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balauce under the Note immediately prior to for�losure. No offset or claim which Borrower might have now or in the fviure against Z.enider shall relieve Borrower from making payments due under the Note and ttus Se.curity Instrument or performing the covenants and agreements secuaed by this Security Instrume�. 2. Applieation of Payments or Proceeds. Except as otherwise described in tlus Se,ction 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 Secrion 3. Such payments shall be applie� 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 Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periadic 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 any payment received from Bonower 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 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 chazges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financiel Services Form 3028 1 /01 VMP6WE) f1105) Page 4 of 17 n