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201204920 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 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 variarions by jurisdiction 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. 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. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this 5ecurity Instrument shall be made in U.S. currency. However, if any check or other instrument rec;eived by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all 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 orc�er; (c) certified check, bank check, treasurer's che,ck or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federai agency, instrumeatality, or entity; or (d) Electronic Funds Transfer. Payments are d�mefl received by Lender when received at the location designated in the Note or at such other location as may be ctesignated by Lender in accordance with the notice provisions in Secrion 15. Lender may retarn any gayment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial paymen� insufficient to bring the Loan current, without waiver of any rights heretmder or prejudice to its rights to refuse such payment or partial payments in the firtu�e, but E.ender is not obligated to apply such payments at the time such payments are accepted. If each Peri�ic Payment is applied as of its schedule�l due date, then L$nder need not pay interest on unapplied funds. Lender ma:y hold such unapglied funds until Borrower makes payments to bring ihe Loan current. If Borrower does not do so within a reasonable period of time, L,ender shall either apply such funds or return them to Borrower. If not applied eatlier, such funds will be applied to the outstanding principal balauce under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shatl relieve Borrower from making payments due under the Note auc� this Security Instrument or performing tfie covenants and agreements seaure� by this Security Instrument. 2. Application of Payments or Proceeds. 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 dne 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 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 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 shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Family-Fannie Mee/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Services Form 3028 1/01 VMPBfNE) (1105) Page 4 of 17 � �