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201206068 BORROWER COVENANTS that Boirower is lawfully seised of [he estate hereby conveyed and has the right to .grant and convey the Property and that the Property is unencumbered, except for encumbrances of reQmd, 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 national use and tion -uniform covenants with limited variations byjurisdiotion to constitute a uniform security instrument covering real property. Uniform Covenants. Borrowerand 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 uDdor the Note, Borrower shall also pay funds for Escrow Items pursuant to ScQtion 3. Payments due under the Note and this Security Instrument shall be inade in U,S, currency. However, if any check or other instrument received by Lender as payment under (lie Note or this Security Instrument is returned to Lender Unpaid, Lender may require that any or all subsequent payments due undirr the Note and this Security Ins(mment be made in one or more of [lie 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 check is drawn upon an institution whose deposits are insured by a fedcral agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note orat such other location as may be designated by Leridet in accordance with the notice piovisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current, Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payinent or partial payments in the future, but Lender is not obligated to apply such payments a[ (lie time such payments are accepted, If each Periodiu Paymcill is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds 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 return them to Borrower, If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immedimely prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower froin making payments due under the Note and this Security Instrument or performing the covenants and agreements secured 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 due under the Note; (b) principal duo under dbu 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 [his 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, tho payment may be applied to the delinquent. payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply my 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 payinclu of our 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. 24001503 NEBRASK A SI�Q I � F��! I, F.,�i. Mae/Fl.ddie Mae UNIFORM INS FRUM ENT Fen 3028 1101 VMP g' VMP6(NE) 11106) Woltar� Kl.��e P,. 4 ef 17