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201206639 BORROWER COVENANTS that Borrower is lawfiilly 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. 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 non-uniform covenants with limited variations by jurisdicrion to constitute a uniform se,�urity 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. Bonower 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. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument sha11 he made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is retumed to Lender 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 ctieck, treasurer's check or cashier's check, provicted: any such cheek is dtawn upon an institution whose deg�sits are insured by a federal agency, instnimentality, or enrity; or (ct) IIectronic Fvads Taansfer. Payments are deemed received by I�nder when re.ceived at the Iocation designated in the Note or at such other location as may be designated by L.encter � accordance with the notice provisions in Section 15. L,�ncter may aeturn any pag�nt or partiat paymeat if the payment or partiat payme�ts are insufficient to bring the Loan cunent. Lestder may accept any gay�at or partial payment ins�fftcient to bring the Loan cunent, without waivea of airy rights hereunctes �r grejudice to its rights to refiise such payment or partiai payments ia t�ie fut�ue, bue E.ender is IIot obligate� to aggly such payments at the ti� such payments aze accepted. Ff each Periodic Pa�mtent is appiied as af its scheduled due c�ate, then L,ender need not pay interest on uaa.pplie� f�nds. �.eader may hold such unapplied funds imtil �orrower ma.kes gayments to bring the Loan curreat. If Bortower d� IIat do so within a reasonable perio� of time, L�►der shall either apply such funds or return them to Borrower. If not applied earlier, such fimds will be applied to the outstanding principal batauce uuder the Note immediately grior to foreclosure. No offset or claim which Bonower might have now os ia the future against Lender shall relieve �rrower from �g payments due under the Note and this S�uri,ty Instrument or p�rforming the covenar�ts and agreements secure� by this Security Instrumeni. 2. Apptic�tion of Payments or Proceeds. Except as otherwise described in this Secrion 2, all payments accepted and applied by L.ender shall be applied in the following order of priority: (a) interest due under the Note; (b) principat due uncter the Note; (c) amounts due under Secrion 3. Such payments shall be applied to each Periodic Payment in tfie order in which it became due. Any remaining amounts shall be applied first to late charges, se,cond 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 Bonower 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 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 fu.11 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 chazges and then as described in the Note. NEBRASKA-Single Femily-Fennie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Woltera Kluwer Financial Services Form 3028 1lO7 VMP6WE) I1105) Paga 4 of 17