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201206537 BORROWER COVENANTS that Borrower is lawfiilly seised of the es[a[e hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. 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 wvenants for national use and non-uniform covenants with limited variations by jurisdiction ro consutute a uniform security ins[rument wvering real property. Uniform Covenants. Sorrower and Lender covenant and agree as follows: 7. Payment of Principal, Intarest, Escrow Itams, 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 chazges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Insmiment shall be made in U.S. currency. However, if any check or other inswment received by I.ender as payment under the Note or[his Security Instrument is re[urned to I.ender unpaid, Lender may require that any or all subsequent payments 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, heasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentaliTy, or entiry; or(d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions 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 ro bring the L.oan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paymants in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Paytnent is applied as of its scheduled due date, then L.ender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring[he 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 wi11 be applied to the outstanding principal balance under the Note immediately prior to forecloswe. No offset or claim which Borrower might have now or in the funue against Lender shall relieve Borrower from making payments due under the Note aud this 5ecuriTy Insirument or performing the covenattts and agreements secured by this Security Instrument. 2. Application of Peyments or Proceeds. Ezcept as otherwise described in this Sec[ion 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 due under the Note; (c)amounts due under 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 chazges, 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 sufPicient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late chazge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to We 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 khe full payment of one or more Periodic Payments, such ezcess may be applied to any late chazges due. Voluntary prepayments shall be applied first to any prepayment chazges and then es described ia the No[e. NEBR�SKA-SinBle Femlly-Fennie MaelFraddia Mec UNIFOHM INSTFl1MEM Form 3028 1Ni VMP VMPBINEI i11061.00 Woltere Kluwer Finenctial5arvice5 Pege 4 ot 1 J