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�0��0�527 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. 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 chazges 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 Se,curity 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 retumed 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 ch�k, 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, instnunentality, or entity; or (d) II�tronic Funds Transfer. Payments are de�emed re�eived by Lender when received at the location designated in the 1Vote or at such other lc�ation as may be designated by Lender in accorctaIICe with the notice provisions in Section 15. �,endes �y return. azry payment or partial payment if the payment or partial payn�ts are insufficient to briQg tfie Lo� cv�rent. Lencier �ty accept any payment or gartial payment iffiufficient to bring the Loan ceirrent, witfi�ut �vaiver af a� rights hereuuder or preJudice to its rigtits to refuse snch payment or partial payments ua the future, b�t i,ender is not obligat� to apgly such payments at the time such payments aze accepted. T� eac� Perivdic Payment is applied as of its scheduIed due date, then Lender need not pay interest on uE►aagplied funds. �der may hoId such utiappIied fimcts vatiI Borrower makes payments to bring the �oau current. If Borrower dOes not do so within a reasonable period of time, Lender shall either apply such fimds or retum thein to Borrower. If not applied earlier, such funds will be applied to the outstanding principal batance under the Note immediately prior to foreclosure. No offset or claim which Bonower might fiave now or ia tt� future against Lender shall relieve Borrower from maldng payments due under the Note and this Security Instrument or performing the covenants and agreements secured by ttus 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 Secrion 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, s�ond to any other amounts due under this Se�urity 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 suff'icient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late chatge. 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 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 Family-Fannie Mae/Freddie Mac UIVIFORM INSTRUMENT VMP � Wohers Kluwer Financial Services Form 3028 1 /01 VMP6WE) (7105) Page 4 of 17 b