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20�2Q7�9� BORROWER COVENANTS that Borrower is lawfiilly 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 rerord. 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 variations by jurisdicrion to constitute a uniform security 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. 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. Borrower shall also pay funds for Fscrow Items pursuant to Section 3. Payments due under the Note and this S�urity Instnunent 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 Instrament is returned to Lender unpaid, Lender may require that any or a1I subsequent payments due under ttie 1�Fote and this Seeurity Tnstrument be made in one or more of the following forms, as selected by Lender: (a) c,ash; N) mo�y orc�er; (c) certified check, bank ch�k, treasurer's check or cashier's check, provided any such ch�k is drawn �n an institurion wi�vse deposits are insured by a federat agency, instnunentality, or entity; or (d) II�� Funds Transfer. Payments are deemed received by Lender when received at the location desigr�ated. in th� Note or at such other Yocation as ma.y be designated by Lender in accordance with the notice grovisions in Section 15. Lender may return aay pa�t or partial paymer►t if the payment or paztial payments are insufficienE to bring the Loan current. T.ender may accspt any payment or partial payment ins�rfficient to �ring the �,oan current, without v�aiv�r of any rigfits hereunder or prejudice to its rights to refuse such paym�nt or gartial payments ffi the fv.t�ue, but �der is not obIigated to apply such payments at the time sucl� p�ymeats a�€; accepted. lf each� PeEiodi� Payment is appl�ed� as of its schec�uled due ciaxe, t1� Lender need not pay i�terest on uaapplied fiu��3s. �►der may hoId such unapplied fi�ds until Borrower makes pa}rments to brisg the Loan current. If Horrower does not do so within a reasonable period of ti�, Lender shall either appty such funds or return them to Borrower. If not appiied eulier, such funds will be applied to the outstanding principal balauce tmder the l�ote immediately prior to foreclosure. No offset or claim which Borrower might have now or iu the fcr,ture against Lender shall relieve Borrower from making gayments due under the Note and tfiis Security inst�ent or perForming the covenants and agreements secwe� by this Security Iustrument. 2. Application of Payments or Proceeds. Except as othervvise described ia this Section 2, all payments accepted aud applied by �.encier shall be applied in the following order of priority: (a) interest due under the Note; (b} principal due uuder the Note; (c) amounts due under Secrion 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, 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 charge 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 received 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 fu11 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-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wotters Kluwer Financfel Services Form 3028 7 /01 VMPB(NE) (1105) Page 4 of 17