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201207i9� 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. Bonower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY Il�FSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Uniform Covenants. Bonower and Lender covenant and agr� as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower 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 Se,�tion 3. Payments due under the Note and this Security Instrument 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 �nstrument is retutned to L�nder unpaid, Lender may require that auy or all subsequent payments due under the Note and this Security Instrunient be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank che.ck, tr�.ter's che.ck or cashier's che,ck, provided any such c1�e.ck is drawn. upon aa institurion whose deposits are i�u,red by a federal agency, instrumentality, or ent�t,r; er �d) Etectronic Fuuds Transfer. Pay�eats are deemed re.ceived by Lender when receive� at the l�on designated in the Note or at such other I�tion ac may bs designate� by Leader in acxordance with the aotice provisions in Section 15. � may r��rn aa� payment aa garEial paymeni if the gaym�a� or partia[ payments a�e iusufficient to brirsg �fie F.o�t currrent. F..�c�er �� aceeF� �Y PaYment or garC� gay�t i�i�ien� to bring ttte Loan curtent, �ritt�out waiver of ar�y rights here�mdeF or prelu�ic� to its rights to refuse such payr�ent or partiat pay�ents ffi the future, but I.encter is no� obligate�. to aggly suc� gayments at the time such payments are �ted. � each Periodic Fa.yment is apglied as of its schedul'ed dve date, tfien L,ender need not gay interest an� unapgli� fimds. �des may hmZd such unagp�iecP fuuc�s u� �rnrvver makes payments to bring the Loaa current. If Bflrrower dnes not �o so within a reasoIIable period of cime, I,ender shall either apply such funds or retarn them to Borrower. If not agplied earlier, s�cfi fimds wiil be appli� to the outstanding principai batance under the Note immediately prior to foreclosure. No offset or claim which Borrower might �iave now or in tFie future agai,nst Lender shall reiieve �osrower from making gayments due under the Note au� tfiis Security Instrument or performing the covenants a� agreements s�ured by this Security Instrument. Z. Appticatian of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall 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 Iate chazges, second 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 Borrower 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 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 eusts 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 Famlly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Services Form 3028 1 /01 VMPB(NE) (1105) Page 4 of 17 . � ` ,