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2012a32 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 record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdicrion 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. Borrower shall also pay funds for Escrow Items pursuant to Secrion 3. Payments due under the Note and this Security Instrument shall be made in U.S. cunency. However, if any check or other insmiment received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or a11 subsequent payments due under the Note and this 5ecurity 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 ch�k, treasurer's check or cashier's che,ck, provided any such che.�k is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or enrity; or (d) El�tronic Funds Transfer. Payments are c�eemed received by Lender when received at the Iocation designated in the Note or at such other location as may be designated by Lender in accordance with the norice provisions in Section 15. �er may returti any payt►�nt or partial payment if the payment or partial payments are insufficient to b�iag the Loan cvrrent. �.encfi�x �y accept any payment or partiat payment insu€f'icient to bring the Loan c�ent, witf��r�t waiver of any rigttts hereunder or prejudice to its rigYrts to refvse such payment or partial Pa}�ments ia tF� fi�.vae, b� l.�der is not obligated w apply such payments at the time such payments are acxepted. If each Perioc�ic Payme�t is applied as of its scheduled due date, then Lender need nQt pay interest on t�gpli� funds. Le��er may hold such uaiappIied fimds until Borrower makes payments to bring the Loan cvrrent. I€ Borrower does not do so within a reasonable geriad of time, Lender shall either apply such fvnds or return them to Barrower. If not applied earlier, such funds will be agplied 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 against I�nder shall relieve Borrower from making payments due under the Note and this S�urity Instrument or performing the covenants and agreements s�ured by this Security IYtstrument. 2. Application of Payments ar Proce�eds. 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 chatges, second to any other amounts due under this Security Instivment, 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 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 charges due. Voluntary prepayments sha11 be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Famfly-Fannie Mae/Freddle Mac UIVIFORM INSTRUMENT Form 3028 1/01 VMP p VMPB(NEi 11105) Wolters Kluwer Financtal Services Page 4 of 17 . �