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2�12UO375 BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and tha.t the Property is unencumbered, except for encumbrances of record. Borrower 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 constitute a uniform security instrument covering real property. Uniform Covenants. Bonower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower 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 Fscrow Items pursuant to Se,crion 3. Payments due under the Note and this Security Instru.ment shall be made in U.S. currency. However, if any check or other insriument received by Lender as payment under the Note or this S�urity Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this S�urity Instrument be made in one or more of the following forms, as selected by Lender: f a) cash; (b) money order; (c) certified check, bank che,ck, treasurer's check or cashier's check, provid� any such check is drawn upon an instituteon whose deposits aze insured by a federal agency, instnimentality, or entity; or (d) II�tronic Funds Transfer. Payments are deemed receiverl. by Lender when received at the location designated in the Note or at such other location as may be desigaated by Lender in accordance with the notice provisions in Secrion 15. �.ender may reteun auy payment ar parti� payment if the payment or partiat gayments are insufficient to bring the Loan curren�. �,enciei �y accept any payment ar partiai payment insufficient to bring the Loac►► cunent, without waiver of an� rights hereunder or prejudice to its rights to ref�se such payment or partial payments in the fut�xre, but I.ender is not obligated to apply such gayments 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. F..�cfier may hold such unapplied funds until Bonower makes payments to bring the Loan current. If Borrower does aot do so within a reasonable period of time, Lender shall either apply such fimds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balanc.e under the Note immediately prior to foreclosure. No offset or claim which Bonower might have now or in the future against T.ender shall relieve Borrower from making payments due under the Note agd ttus Security Instiument or performing the �ovenants and agreements secured by this 5ecurity �ustnunent. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 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 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 Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a sufficient amount to pay any late chazge 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 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 elcists 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 sha11 be applied first to any prepayment chazges and then as described in the Note. NEBRASKA-Single Family-Fannte Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters K�uwer Financial Services Form 3028 1/Ot VMP6(NE) (1105) Page 4 af 17 F h