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2U120659� � aa : � �� -- 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 Properly is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the tifle to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRiJMENT combin� uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real properry. Uniform Covenants. Borrower 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 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 insttament received by Lender as payment under the Note or this Security Instrument is retumed to Lender unpaid, Lsnder may require that any or all subsequent payment5 due under the Note and this Security Instrument be made in one or more of the following forms, as sel�ted by Lender. (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's ch�k, provided any such check is drawn upon an institution whose deposits aze insured by a federal agency, instrumentaliry, or entity; or (d) II�tronic Funds Transfer. Payments are deemed received by Lender when r�eived at the location designated in the Note or at such �ther location as may be designated by Le�nder in accordance with the notice provisions in Section 15. Lender may rewrn any payment or partial payment if the payment or partial payments aze 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 payment or partial payments in the fimire, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its sch�uled due da.te, thcn Lender ne� not pay interest on unapplie{i funds. I,ender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower does not do so withi.n a reasonable geriod of time, Lender shall either apply such funds or rewrn them to Borrower. If not applied eazlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against L�ndier sl�all relieve Borrower from making payments due under the ATote and this Security Instrument or performing the covenants and agreements secured by this Security Instr�ment. 2. Appfication of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepteci and appliai by Lender shall be applied in the following order of priority: (a) interest due t�nder 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 rema�n�ng amounts shall be applied first to late charges, second to any other amounts due tmder this Security Instrument, and then to reduce the principal �lance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount w 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 repaymeni 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 P�3'ments shall b� appIie�l frrst to an PreP ayment charges and then as described in the Note. NEBRASKA•Single Family-Fannie Mae/Frerldie Mac UMFORM INSTRUMEWT Fmm 3028 7/07 VMP � VMPB(NEI (110b1.� Wolters Kfuwar Rnencial Serviees Page 4 of 77