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20120503� 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 wartants 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 limit�l variations 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. Borrower shall also pay fimds 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 uader the Note or this Security Instrument is returned to Lender uz►paid, Lender may require thaz any or all subsequent payments due under the Note and t�is Security Instrument be made in one or more of the foltowing forms, as �le,cted by Lender: (a) cash; (b) money order; (c) certifiecE che,ck, bank check, treasarer's check oa cashier's check, provid� any such check is drawn upon an institution whose deposits are insure� by a�cleral agency, instrumentality, or entity; or (d) IIeetronic Fimds Transfer. Fayments aze deemed received by Lenc�er when re,ceived at the Iocation designated in the Note or at such other Iocation as may be designated by I,ender in accordance wit�, the notic.e provisions in Section 15. L.encter ma� return any payment or parcial payxnent if the payment or partial payments are insufficient to bring the Y.,4an current. Lencter may accept any payment or garkiat ga�ent insufficient to bring the Loan current, without waiver of any rights hereuuder or prejudice to its rights to refuse such payment or partial payments iu the future, but �nder is not obligated to apply such pay� at the rime such payments are accepted. If each Periadic Fayment is ap�lied as of its schedul�: due date, thea Lender geed not gay interest o� unagplied funds. I,ender may hoId such unapplied fimds until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or reliun them to �orrower. If not applied earlier, such fimds wilI be applied to the outstanding principal batance under the Note i�iateIy prior to fore,closure. No offset or claim which Borrower might have now or in tfie future against Lender shall relieve Borrower from making payments due under the Note az►d tfiis Security Iffitrument or perfarming the covenants auct agreements secu.red by this S�urity incin,mQnt, 2. Application of Payments or Proceeds. Except as otherwise descn'bed in t1�is Section 2, all payments accepted and applied by Lender shatl be applied in the followiag order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due uncter Section 3. Such payments shall be applied to each Periodic Payment in the order in wluch it became due. Any remaining amounts shall be applied first to late charges, s�ond to any other am�unts due under this Security Instrument, and then to reduce the principal balance of the Not�. If Lender r�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 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 Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kiuwer Financial Servic� Form 3026 7/01 VMP6(NE) (1105) Page 4 of 17 �i ' _ � � ,