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20120� 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. Borrower wazrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECUR�TY INSTRUMEI�T combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Unifor� �overtants. Borrower and Lender covenant and agree as follows: ?. Payment of Principaf, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shail pay v�+hen due the principal of, and interest on, the deht evidenced by the Note and any prepayment charges ancfi Iate charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due unc�er the Note and this Security Instru,ment shall be made in U.S. currency. �owever, if any ch�k or other instrnment received by Lender as payment under the Note or this Security Instruinent is returned to Lender unpaid, Lender may require that any or alI subsequent payments due under the Note and this Security Iastrument be made in one or more of the following forms, as selected by Lender: (�� easfi; (Fa) money order; (c} certified check, bank check, tre�urer's check or cashier's check, provided any such cheEtc is dravvn ugoa an iastitvtioa whose deposits are insured by a federal agency, iastrumentality, or eatity; or (d) IIecttomc F�mds Tra�sfer. Payme�ts aze deeme�t received by Lender when received at the locarion d�ignate�i in the Note or at such ottcer tocati�n ��y be d�igaated by L.ender in accordance vvici� the notice provisions in Section 15. L,eader �a return �r,y payment or partia,t gayment if the paynTent or partiai payments aze Yasuff'cient to briag the �.oaic current. Lender may acxept any payment or gastial payment insuffrcient to briug the Loan cunent, withaut vvaieer of auy rights hereunder or prejudice to its rights to refuse such payineat or partial paym�nts ia t�te futttre, buL L� is aat obIigated to appIy such pa�+ments at the time sucl� payments are accepte�. Tf eacfi Periodie 1'aymeae� i� aggtied as of its s�hed:uIed due date, tken Zender a� not pay interest oa unagp� func�s. Leaa�er �y hc�te� s�ch uIIapplied funds tmril Borrower mak� paya�sts to bring the �.c�an curreat. Tf �3orrower doe.s noti do so within a reasonable period of time, T.encier shal� either apply such fuads or return them to Borro�vver. If not applied earlier, such functs will be applied to tfie outstanding principal balance uIIder the Note immediately prior to foreclosure. No offset or claim which Borrower might h�v� now or in the futvre against Lender shall relieve Borrower from making payments due under the Note and this Se�urity Instrument or gerfarming the covenants and agreements securec� by this Security Instrument. Z. AppCir.�ation of Fayments or Pcoceeds. Except as otherwise described in tivs Secrion 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) priucipal due under the Note; (c) amounts due under Section 3. Such payments shalI be applied to each Periodie 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 Instrument, and then to reduce the principal balance of the Note. If Lender r�eives a payment from Bonower for a delinquent Periodic Payment which includes a sufficient �mount 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 fust to any prepayment charges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 7/01 VMP � VMP6WE) I7705) Wolters Kluwer Flnanclal Services Page 4 of 17