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20�20726� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the PropeFty and that the Property is unencumbered, except for encumbrances of record. Bonower wazrants and will defend generally the title 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. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower 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 Section 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 Instrument is returned to Lender unpaid, Lender may 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 sel�ted by Lender: (a) cash; (b) money order; (c) certified che,ck, bank check, treasurer's che,ck or cashier's check, provided any such che.ck is d�awII upon an institurion whose deposits are insured by a federal age�y, instrumentality, or entity; or (dj IIectronic Funds Transfer. Payments aze � receiv�l by Lender when received at the lo�tion designated in the Note or at such other locatioa as �ag be desiguated by Lender in accordance with the natice provisions in Sectioa 15. Lender may re.� any gayment or partial payment if the payment or partia� payments aze insufficient to bring the �an �t. I.ender may accept any paym�nt or partiat payment insufficiern to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such paymeat or partial payments ia. the fw�e, b�t LeIICter is aot obTigated to apply such paymeats at the time such payments are accepted. If each Periodic Paymen� is apglied as ef its schedul� due d�te, then Lender n� not pay interest on u�pgtier� funds. E.endes may hold s� unapplied funds until Borrower makes payments to bring the Loan current. If Borrov�rer cloes not cto so within a reasonable period of tune, Lender shall eit�er apply such funds or return thein to Borrower. If not appIied earlier, such funds vc�ll be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or clum which Borrower might have now or iti the future agaulst Lender shatl relieve Bonower from maldng payments due under the Note and this Sec�xrity �*+� or �rforming the covenants and agreements se�ured by this Se,curity Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepte,�i and apptied 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 S�rion 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any rema,ining amounts shall be applied first to late 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 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 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 he applied to any late chazges due. Voluntary prepayments shall be applied first to any prepayment chazges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Services Form 3028 7/01 VMPBINE) (1105) Page 4 of 17