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2012a70�� <br />BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to <br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. <br />Bonower warrants and will defend generally the ritle to the Property against all claims and demands, subject to <br />any encumbrances of record. <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with <br />limited variarions by jurisdiction to constitute a uniform security instrument covering real property. <br />Uniform Covenants. Bonower and Lender covenant and agree as follows: <br />1. Payment of Principai, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower <br />shall pa�+ whea due the principal of, and interest on, the debt evidenced by the Note and any prepayment <br />charges and late charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to <br />Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. <br />However, if any check or other insttument received by Lender as payment under the Note or this Security <br />Instrument is returned to Lender unpaid, Lender �nay require that any or all subsequent payments due under <br />the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: <br />(a) cas�; (b} mone}r order, (c) certified check, bank check, treasurer's check or cashier's check, provided any <br />sucb check is dra;wn upon azc i�riturion whose deposits are insured by a federai agency, instrumentality, or <br />entity; or (d) Electronic Funds Transfer. <br />Payments are deemed received by L,ender when received at the Iocation designated in the Note or at such <br />other Io�ation as may be designated by Lender in accordance with the notice provisions in Section 15. <br />Lencier may retuxn an.y gaymeat or partial paymeat if the payment or paztial payments are iasufficient to <br />bring the Loaa current. L,ender �y accept any payment or partiai payment insufficient to bring the Loan <br />current, witF�ou� v�ai�er o� any rights hereunder or preJudice to its rights to refu.se suclx payment or partial <br />pa�ts in the fut�ue, but F�der is IIot obligated to appIy suc� payments at the tune such gayments aze <br />acceptecfi. If e�h Feriodic Payment is agplied as of its schedvled �ue date, then Lender ne� not pay interest <br />on unappIied funds. Lender may hold such unapglied funds unriI Bflrrower makes payments to bring the <br />I.oan current. If I�orrower � not do so within a reasonable period of tune, Lender shall either apply such <br />funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding <br />principal �alance uncier the Note immediately prior to for�losure. No offset or claim wYtich Borrower might <br />have now or in the future against Len�er shall relieve Bonower frony making payments due under the Note <br />and this Security Instrument or gerforming the covenants and agreements secured by this Security <br />Instrument. <br />2. Application of Payments or Froceeds. Except as otherwi� described in this Section 2, all payments <br />�cepte�fi and agplied by Lender shall be applied in the following order of priority: (a) interest due under the <br />Note; (b) principat due under the Note; (c) aznounts due under Se,ction 3. Such payments shall be applied to <br />each Periodic Fayment in the order in which it became due. Any remaining amounts shall be applied first to <br />late charges, se,cond to any other amounts due under this Security Instrument, and then to reduce the <br />principal balance of the Note. <br />If Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a sufficient <br />amount to pay any late chazge due, the payment may be applied to the delinquent payment and the late <br />chazge. If more than one Periodic Payment is outstanding, Lender may apply any payment re,ceived from <br />Bonower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in <br />full. To the extent that any excess exists after the payment is applied to the full payment of one or more <br />Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be <br />applied first to any prepayment charges and then as described in the Note. <br />PIEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Form 3028 1(01 <br />VMP � VMP6INE) (1105) <br />Wolters Kluwer Financial Services Page 4 of 77 <br />