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20120423� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencuxnbered, 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 INSTRUMENT combines uniform covenants for narional 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 charges and late charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Sectian 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any che,ck or other instnunent received by Lender as payment under the Note or this Security �nstrument is retumed to Lender unpaid, Lender may require that any or all subsec}uent payments due under the Note and this Sec�rity Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank che�ck, treasarer's check or cashier's che,ck, pmvided any such che,ck is dra.wn upon an iastitution whose deposits are insured by a federal agency, insm�mentality, or entity; or (d) Ele�tronic Funds Transfer. Payments are deemed received by Lender when received at the location designat�i in the Note or at such other Iocatioa as may be d�ignate� by Lender in accordance with the norice pmvisions in Section 15. E.�ades may returit aay gayment or pa�ial payment if tfie payment or partial gay�ts aze insufficient to bring ti�e �a�► curreat. �nder may accept any payment or partial payment insufficient to bring the Loan cu�rent, withoux vvaiwer o� au�r rights hereunder or grejudice to its rights to ref�u.se such payment or partiai payments i� tbe fuMare, buc Lender is not obligated to apply such paynients at the time such payments are accepted. If �cfi Periodic Payment is applied as of its scheduled cfiue date, ihen Lender need not pay interest on unapplied f�uids. Leades may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower �S not do so �vitbin a reasonabie period of ti.me, Lender sha11 either apply such fimds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance uuder the Note immediately prior to foreclasure. No offset or cIaim which Borrower nught h�ve now or in the future agai�t Lender shall relieve Borrower from making payments due under the Note and this Security Instru�eat or performing the covenants and agr�ments secure,c� by this Security Instrumen�. 2. Application of Payments or Proceeds. Except as othenvise 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 Se,ction 3. Such payments sfiall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, se,cond to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Iznder re,ceives a payment from Borrower for a delinquent Periodic Payment which includes a su�cient amount to pay any late chazge 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 elcists 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-Fannie Mae/Freddle Mac UNIFOHM INSTRUMENT Form 3028 1/07 VMP � VMP6(NE) (1105) Woitere Kluwer Financfal Services Page 4 of 17