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20120216� 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. Bonower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of rec;ord. THIS SECURTI'Y 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 charges and late charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to S�tion 3. Payments due under the Note and this Security Insmiment shall be made in U.5. 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 Securiry Instrument he made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank che,ck, treasurer's check or cashier's check, provided any such check is drawn upon an insriturion whose deposits are insured by a federal agency, instrumentality, or enrity; or (d) Eleetronic Funds Transfer. Payments are deemed received 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 Secrion 15. Lender may retlun any payment or partial payment if the payment or partial payments aze insufficient to bring the Loan current. Lender may accept any payment or paztial payment insufficient to bring the Loan current, without waiver of any rights hereuader or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligatecl to apply such paymerns at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due c}ate, then Lender need not pay interest on unappli� funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower dces not do so within a reasonable period of time, Lender sha11 either apply such funds or return them to Bonower. 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 Borrower might have now or in the future agaisist Lender shall relieve Borrower from maldng payments due under the Note and this Security Instrument or performiug the covenants and agreements secured 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 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 ttus Se,cu.rity 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 sufficient amount to pay any late charge 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 exists 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 charges and then as described in the Note. NEBRASKA-Single Family-Fannle Mae/Freddia Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Sarvices Form 3028 1/01 VMPB(NE) (1105) Page 4 of 17 + ' . . � �