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201201565 BORROWLR COVINANTS H�at Borrowcr is lawfiilly seised of'tlia estake hereby conveyed and has theright tn grmit and convey the Prope�•ty and thaC lhe Property is unencumbered, except for encumbranees of reoord. Borrov✓ar waa�rants and will defend genernl�y Che title to the Prope��ty against al1 claims and demands, subject to any e�icnmUrancea of record. "I'I-]1S 3PCURITY INSTRUM�NT combines uniform covennnts for naCioi�al�uso and non-uniform wvenants with limited variationsby jurisdiction tt� oonstitute a timifarni�ecurity instrtunent covering real property. lJniform Covenants. Bonowe��and Lender covenant a�id agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Ronower ehall pxy whcu dne fl�e piincipa1 of, and interest on, the debt evidenced by the Note and nny prepaymci�t charges and lnte cherges due under the Noie. Borrower shall also pay fiinds for Fscrow ICeins pursunnt to Section 3. Payments due under the Note�nd this Security Instrument el7all be made in ti,S. currency. [-lowevet, if any checic or oUier instrtunent received by Lender as paytnent under hhe Nate or CUis SccLirity Insh umcnt is rcturncd to Lcndcr ut�paicl, I.ender may requiue thati �aiy or all subsequent p�yments due under � the Noie and[l�is�Sern�rity H�strmnent'be inacie in onc or moro of the following fonns, as selecCed by Le�ider: (z�) cash; (b)tnaney otdai; (c) certified check, bank check, heaeurer'a oheok or casivcr'n chccic, providul auy such checic 'rs dr��n� upon an institution whoye deposits are insured by a federal 2gency, inslivinentality, or enLiCy; or (d)�leeCronic Pimds Transfer. Payment�are deemed roceivecl hy Lcndce whcn reccived at the locatioli designated ia tl�e Note or aE such other location as mny be deeignated by Lender in lccordance with 4hc notioc provisions in Section I5. Lender m�}�retarsa nny pa}+ment or pnrti�l peyment if the payment or partial payments are insufficicnt to Uring tha Loen ourrent. Leuder may accept ury payment or pa�tinl payment insuffieient co bTing lhe Loaiu cYU�rent, without waiver of 21ry rights ha�eundex or prejudice to its rights to xefuse such paynient or partiel paymenfs in the fnture, I�ut Lender is not obligated to apply such payments at tho time sucl�payineuts are accepted. If ench Periodio Paymeut is applied As of its echeduled due date, theu Lender neecl noC pay inCercet on unapplied fmids. I,ender may hold sucli wiapplied funds until Borrowar makes payments to l�ring the Loaii a�rtrniti. If Borrower doea;not do so within a re;asonablo period of rimc, Lei�der sl�a1] eitlier apply snch funds or r�turn them to Borrower. If uot applied earlier, auch fimds will be appliec{to lhe ouCSCanding principal Ualuice uuder tlie Note iimnediakely prior to foreclosure. No offset or claim which Borrower might have now or in lhe fiilure ng�inst Lender shall relieve Borrower from making payinenEs dr�o uuder the Nbtc and this Seauxity Tnsh•ument or performiug Ehe covenante and agreements secured by this Seouri[y InsUumenti. 2, Application of Payments or Proceeds. Except 1s otherwise described in this Section 2, all paymenCs accepted�nd applied by l,ende�� sl�all be applied in tl�e following orde,�• o�P prioriCy: (z)inferesti due uuder the Note; (b)�rinci�21 due tn2dex fheNoCe; (c) amp�mt�s due uiidor Swtion 3. Such paymenGs e6all be¢pplied to e�ch Periodio Payment in the order in which it bec�une due. Any r�maining unounts shnll be applied f rse to late chatges, secood to any other atnomrts due under this Secur�ty Instrument, and then to reduca the principal bnlanoe of the Noke, If Londer rcceivcs �payii�ont from Borrowcr for a dclinqucnt Yctiodie Yayinent which aicludes a sufFicient �monnf fo pay any lafe chatga due, ihe payinenC inay be applied fo thc delinquen4 payment ttnd thc late ch�rge. Pf more Yhan one Periodic Paymeut is outstanding, Lender may apply any pnyinenk received from Borrower Yo the repaymant oP tha Periodic Paymants if, fuid to the extent Ebat, emch paynient ean l�e p�id in full. 7'o the estent that any excess existe after the payment is applied to tha full payment of one or inore I'erioclic Pa�nnents, suoh exoe.ss may be applied Co any late chaiges d�io. Voluntary prepayments shall be applied firet ta any prepayment charges encl then as described in the Note. 2A000380 N EBRASKA-3ingle Fam lly-Fannle 1.7 ee/Fredtlla A4 ec UNIFORI�A W STRUh1 EN1" Form 3026 1/01 V,N P(� VM P6{N E)(110 ti) N.!olters Kluwer Financial Services I'age A of 7'1