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201201280 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. Borrower wazrants and will defend generally the title to the Progerty against all claims and demands, subject to any encusnbrances of re,cord. THIS SECURITY INSTRUMENT combines uniform covenants for narional use and non-uniform covenants with limited vatiations 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 inter�t on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Bonower shall also pay funds for Eserow 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 check 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 ma.de in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified che,ck, bank check, treasurer's check or casluer's check, provided any such ch�k is drawn u�n an institution whose deposits aze insured by a federai agency, instrumentality, or entity; or (d) Electronic Funds 'Z'rraansfer. Payments are deeme� re,ceiv� by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accorctance with the notice provisions in Section 15. Lender may retura any payment or partiat payment if the payment or partial payments are insufficient to briug the I.oan current. Lencfer ma.y accept any payment ar partial payment insufficient to bring the Loau current, withaut vvaiver of any rights hereunder or prejudice to its rigfits to refitse such payment or partiat payments in, the future, but L,ender is not obligated to apply such payments at the time such payments are accepted. If each Feriodic Payment is applied as of its schedul�. due date, then Lender need not pay interest on una.pplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower daes not do so within a reasonable period of time, I.ender shall either apply such funds or return them to Bortower. 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 Bonower might have now or in the future against Le�er sha11 relieve Borrower from making payments due under the Note and tlus Security Instrument or performing the covenants and agr�ments secured by this Security Instrument. 2. Application of Payments ar Proceeds. Except as otherwise descrihed in this Se,crion 2, a11 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 Borrower for a delinquent Periodic 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 earists 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 Femily-Fannie Mae/Freddia Mec UNIFORM INSTRUMENT VMP � Woltera Kluwer F(nancial Services Form 3028 1/O7 VMPBfNE) (1705) Page 4 of 17 a . -