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20120370� BORRUWER COVENANTS tl�at 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 INSTRUM�NT 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. Borrower and Lender covenant and agree as follows: 1. Payment of Principal,interest, Escrow Items, PrepaymentCharges, 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 Section 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 Security Instrument is retumed to Lender unpaid, Lender may require that any or ail subsequent payments due under the Note and this Security Instrument be made in one or more of the following fonns, as selected by Lendec (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) �lectronic 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 accordancc with the notice provisions in Section I5. Lender may retuni any payment or partial payment if the payment or partial payments arc insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable pericxl of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to thc outstanding principal balance under the Note immediately prior to forec(osure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under thc Note and this Security Inshvment or performing the covenants and agreements secured by this Security Instrument. 2. Applieationof Paymentsor Proeeeds.Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in tl�e following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such paymc;nts 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 tl�is Security Instrument, and then to reduce the prineipal balance of the Note. If Lender receives a payment from Borrower for a delinquent Pcriodic Payment wl�ich 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 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 apptied 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. NEBRASKASingle Famlly-Fannie MaelFreddie Mac UNIFORM ItJSTRUMENT Form 3028 1/Ot VMP � VMPB(NE) (1105).00 Wolters Kluwer Financial Services Page 4 of 17