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2012008�0 BORROWER COVENANTS that Bonower 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 constitute a uniform se,curity instrument covering real property. Uniform Covenants. Bonower and Lender covenant and agree as follows: 7. 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 Escrow Items pursuant to Section 3. Payments due under the Note and this Se�urity Instrument shall be made in U.S. currency. However, if any che�k or other instrument 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 sel�ted by I.ender: (a) cash; (b) money order; (c) certified ch�k, bank check, treasurer's check or cashier's check, provided any such ch�k is drawn upon an institution whose deposits aze insured by a federal agency, instnunentality, or entity; or (d) Electronic Funds Transfer. Payments are de�med r�;eived by Lender when received 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 Se�tion 15. Lender may retum any payment or partial payment if the payment or paztial payments aze 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 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 applie� as of its schedule� due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Bonower makes payments to bring the Loan current. If Bonower 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 for�losure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Bonower from making payments due under the Note and this Se�urity Instrument or performing the covenants and agreements s�ured by this Security Instrument. 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 S�tion 3. Such payments shall be applied to each Periodic Payment in the order in which it b�ame due. Any remaining amounts shall be appliefl first to late chazges, second to any other amounts due under this S�urity Instrument, 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 payment may be appliefl 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 eactent 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 chazges due. Voluntary prepayments shall be applied first to any prepayment chazges and then as described in the Note. NEBRASKA-Single Famlly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3026 1/01 VMP � VMPB(NEI (11061 Wolters Kluwer Financtal Services Page 4 of 17