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201204921 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 covena.nts 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 evidenc.ed by the Note and any prepayment charges and late charges due under the Note. Borrower sha11 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 insmiment received 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 Security Tncm�me►,r be�e in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified ch�k, bank check, treasurer's check or cashier's ch�k, provided any such check is drawn upon aa institurion whose depasits are insuaed by a federal agency, insirumentality, or entity; or (d) Electronic Funds Transfer. Payments are de,emed received by Lender when re,ceived at the la�rion designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisians in Secrion 15. Lender �y retnm any payment or partial payment if the payment or partial payments are insufficient to bring the Loan eurrent. Lender may accept any payment or pattial payment insufficient to bring the Loan current, without waiver af any rigttts 1�ereunder or prejudice to its rights to refu.se s� gayment or partial payments ia the future, but Leader is not obligated to apply sucfi payments at the rime suck payments are accept�. ff each Periodic P�yment is applied as of its seheduled due date, then Le�er neer� IIot pay interest on unapplied funds. Lendes may hald suc� unapplied funds until Borrc�wer makes payments to briag the Loan current. Tf Borrower does not do so within a reasonable period of rime, I.ender shall either apply such funds or retum them to Borrower. If not applied earlier, such funds will be applied to the outstand'mg principal balance under the ATote immerliately prior to foreclosure. No offset or claim which Borrower might have now or in the future again,ct Lencter shall relieve Borrower from making payments due undEr the Note and this Security Instrument or performing the covenants and agrcemerns se,cured by this Security Tnsttvmern. 2. Appiication of Payments or Proceeds. Except as otherwise described in this �ction 2, alI payments accepte.� and applied by L,ender 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 Secrion 3. Such payments shall be applied to each Perivdic Payment in the order in which it became due. Any *�a�ning amounts shall be agplied first to late chazges, s�ond to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender rec:eives 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 he paid in fu11. 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 Femlly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Flnancial Services Form 3028 1 /01 VMPBINE) (1105) Page 4 of 17 � " '� �'��