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201204447 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 re,cord. THIS SECURITY 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. Borrower 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. Borrower shall also pay funds for Fscrow Items pursuant to �ction 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument r�eived by Lender as payment under the Note or this Security Tnstivment is returned to Lender unpaid, Lender may require that any or all subseguent payinents due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such checic is drawn upon an institurion whose deposits are insured by a federai agency, insnvmeIItality, or entity; or (d) Electronic Funds T'ransfer. Payments are deemed received by Lender when re,ceived at the location designated in the Note or at such other laeation as may be designated by Lender in accorc�ance with the notice provisions in Section 15. Leac�er may retuin �uy pay�rcent ar partial gayment if the payment ar partial gayments are insufFcient to briag the Loan eurrent. Lender may accept any payment or pazrial payment insufficient to briIIg the F.,oan currertt, without waiver of any rights hereunder or prejudice to its rigltts to refuse such payment or partiai payments in the future, but Lender is not obligated to apply such payments at the time such gayments are accepted. If each Peri�ic Payment is applied as of its schec�uled due date, then E.ender nee� not pay intereestt on unapp�ied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan cunent. If Borrower daes not cto so within a reasonable period of time, Lender shall either apply such funds or retum them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to fore.closure. No offset or claim which Bortower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Se.curity Instrument. 2. ARplicafion of Payments or Proceeds. Except as otherwise descril�ed in this Secrion Z, aIl payments accepted and applied by Lender shall be applied in the following order of priority: (a) iuterest due under the Note; (b) principal due under the Note; (c) amounts due under Secrion 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 Instrument, and then to reduce the principal balance of the Note. If Lender re,ceives 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 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 chazges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Family-Fannte Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP Q VMP6(NE) (1105) Wolters Kluwer Financial Services Page 4 of 17 � ,p j: '� .. ' b . k; � �