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20120108G 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 watrants 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. Borrower 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. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this S�urity Instrument shall be made in U.S. currency. However, if any ch�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 S�urity Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified ch�k, bank check, treasurer's ch�k 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 aze dcemed receivefl 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 Section 15. Lender may return any payment or partial payment if the payment or partial payments aze insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan curtent, 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 applied as of its scheduled due date, then Lender nced not pay interest on unapplied funds. Lender may hold such unapplied funds until Bonower makes 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 retum them to Bonower. If not appliefl earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to for�losure. No offset or claim which Bonower might have now or in the future against I.ender shall relieve Bonower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instntment. 2. Application of Payments or Proceeds. Except as otherwise deseribed in this Section 2, all payments acceptai 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 b�ame due. Any remaining amounts shall be applied first to late chazges, s�:ond 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 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 chazge. 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 e�sts 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-Fannie Mae/Freddte Mac UNIFORM INSTRUMENT Form 3028 1/01 �/ry�p � VMP81NE1 (1105) Wolters Kluwer Financial Services Page 4 of 17