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20�206757 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 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 securiry 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 shall be made in U.S. currency. �Iowever, if any ch�k or other instrument received by Lender as payment under the Note or this Security Instrument is retusned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Securiry Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank ch�k, treasurer's check or cashier's check, provided any such ch�k is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; ar (d} IIectronic Funds Transfer. Pa}rments are deeme� received by Lender when received at the location designated in the Note or at such other I�oa as may be designa�ed by Lender in accordance with ttie notice provisions in Section 15. �.ernter m�y retiu� aay gaymen� or gartial p�yment if the payment or gartial payments aze ins�ffici� to bring the �aa ct�rent. L.ender �� acee�st an}+ payment or partial payment insuf�cient to bring the �.c�an currern, w►i,thout vvaiver of any rights hereuncter or prejudice to its rights to refuse such payment or partial payments in the future, bnt Leicder is mc3t obligated to apply sucfi payments at the time such payments are accepted. if each Fericidic Payme�►t is applie�3 as oE its scheduled due date, there I.ender neec� �t pay interest on unapglied fi�nc€s. �.encier may �ot� sucfi vnapplied funds until Bc>rrower makes payments to bring the Loan cvnent. If Borrower does not do se within a reasonable �riod of rime, Lender shall either apply such fimds or return them to Bortower. If not applied earlier, such funds will be appli� to the outstanding principal balance undea ttie Note immediately prior to foreclosure. N� offset or claim which Borrower might have now or in the future against Lenafier shall relieve Borrower from making payments due under the Note and this 3ecurity Instrument or gerfoalmng the covenants and agreements securat by this Security Instrument. 2. Applieatian of Payments or Proeeecis. Except as otherwise described in this Section 2, all payments accepted and applie� by Lender shal2 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 which it became due. Any remaining amounts shall be applied first to late charges, s�ond to any other amounts due under this Seccu.rity Instr�ment, and then to reduce the principal balance of the Note. If Len�er 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 charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-S(ngle Famfly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Servicea Form 3028 1 /01 VMP6INE) (7105) Page 4 of 17