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20120670� BORROWER COVENANTS that �nower 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. 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 security instrument covering real property. Uniform Coven�nts. Borrower and Lender covenant and agree as follows: '�. Payrrrent of Principal, fnterest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evideuced by the Note and any prepayment charges anc� Iate charges due under the Note. Borrower sha11 also pay funds for Escrow Items pursuant to Secrion 3. Payments due under the Note and this Security Inst�vment shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Insm�ment is retumed to Lender unpaid, Lender may require that an� 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) ca.sh; (U) moaey order; (c) certif�ed check, bank check, treasurer's cheek or cashier's check, provided any such check is d:rawn upon an institutioa whose degosits are insured by a federat agency, instrumentality, or enrity; or (d) IIectronic Funds Transfer. Payments are d�med 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 witfi the aotice provisions in Section I5. Lender may retum auy payment or paztial payment if ttie payment or partiai payments are in.sufficient tQ bring the �.oau curaent. �.ender may accept any payment or partial payment insufficient to bring the Loan current, without �raiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lencter is not obligated to apply such pa�cents at the time such gayments are accepted. If each Periadic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hotd such unapplied funds untit Barrowes makes payments to bring the Loan current. If Borrower does not �o so v�ithin a reasonable period of time, Lender shall either apply such funds or return them to Bonower. If not agpliec� earlier, such fimds will be applied to the outstanding principal balance under the Note immediately priar to foreclosure. No offset or claim which Borrower might have now or in the future against Lencfer sha11 relieve Borrower from mal�ng payments due under the Note and tius 5ecu.rity Instrument or �rforming the coveIIants and agreements s�ured by this Security Instrument. 2. Application of Payrnents or Proceeds. Exc�pt as otherwise describe�t in this Section 2, all payments ac.cepted and applied by Lender shall be agplied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under �ion 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 this Security Instnunent, 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, 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 full payment of one or more Periodic Payments, such excess may be applied to any late chazges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Femily-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/Ot VMP � VMP6(NE) (1105) Wokers Kluwer Financial Services Page 4 of 17