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20120338ti BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Properiy and that the Property is unencumbered, except for encumbrances of record. Bonower wanants 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 variarions by jurisdiction to constitute a uniform security instrument covering real property. Uniform Covenants. Bonower and Lender covenant and agree as follows: Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower 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. 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. currency. However, if any check or other instrument received by Lender as payment under the Note or this Se,curity Instrument is returned 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 seleeted by Lender: (a) cash; (b) money order; (c) certified ch�k, bank check, treasurer's che,ck or cashier's che,ck, provided any such check is ctrawn upon an institurion whose deposits are insural by a federal agency, instivmentality, or enrity; or (d} Electronic Funds Traasfer. Fayments are desmed received by L.ender when received at the lacation designated in the Note or at such other locarion as may be ct�ignat�d by Lender in accordance with the notice provisions in Section 15. Lender may return any payruent ar partial gayment if the payment or partial payments are insufficient to bring the Loan curtent. I.ender may accept any payment or partial payment insufficient W bring the Loan current, w+ithaut waiver of any rigttts hereunder or prejudice to its rights to refuse such payment or partial payments in the futttre, but Leitder is n.�t obTigated to apply such payments at the time such gayments are accepteei. Tf each Periodic Pay�nent is appIied as of its scheduled due date, then Lender need not pay interest on unappliec� funcis. Lender may holct such unapplied fimds untit Borrower makes payments to bring the Loan current. If Borro�ver dces not do so within a reasonabie geriod of time, Lender shall either apply such funds or retum them to Borrower. If �t appiied 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 agauLSt Lender s,hall relieve Bonower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise descrihed 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 be,came 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 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 chazges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Services Form 3028 7/07 VMPB(NE) (1105) Page 4 of 17 n �� . o