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