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20�20�40� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Properiy and that the Prope� is unencumbered, except for encumbrances of secord. Borrower warrants and will defend generally� the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY I1�S'FRLJMENT combines uniform covenants for national use and non-uniform covenants with Zimited variations by jurisdiction to constitute a uniform security instrument covering real property. Uniform Covenants. Borrower and Lendea� covenant and agree as follows: 1. Payment ot 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 I�Iote and any prepayment charges and late charges due under the Note. Borrower 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. currenc�t. However, if any check or other instrument received by I.ender 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 anc� this Security Instrument be made in one or more of the following forms, as selected hy Lender: (a} cash; (b) mone� or�er; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d} IIectroiuc Funds Transfer. Pay�eats are d�med r�ived by Lender when received at the Iocation d�signated in the Note or at such vther Iocatiag as ma� be �ignated by F:.ender in accordance with the notice provisions in Section I5. I.er�der may retum any pa.yment or partial gayment if the payment or partial payments are insufficient to bring the Loan current. �asde� may accept aa.y payment or partial payment insuf�cient to bring the Loan current, without �raiver erf aay rigfits hereunder or prejudice to its rights to refvse such payment or partial pay.ments ia the futuse, but �c�er is �t obliga� to apply such paymerns at the time such payments are accept�fi. �€ e,ac� P�iod.tc Payment is apgliec� as af its scheduled due date, then I.ender nee@ not pay interest on r�napplied fiucds. LeIIder may hold such u�ppliecY funds until Borrawer makes payments to bring the Loan current. If Borrower does not do so witliin a reasonable period of rime, I.ender shall either apply such fvnds or retum tfiem to Borrower. If �t applied eartier, such funds will be applied to the outstanding principal balance unc�er the Note immediately prior to foreclosure. No offset or claim which Borrower might ha�e now or ig tTae future agai�st L,enrler s�ha�I relieve Borrower from making payments due under the Nate and �tus 5ecurit5r Instr�**s!er�*_ or performing the covenants and agreements s�ured by this Security Instrument. 2. Application of Paymertts or Proceeds. Except as otherwise described in this Section 2, a11 payments accepted and applieci by �.ender s1�aI1 be appiied in the following order of priority: (a) interest due under the Note; (b) principal due unc�er 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 late charges, s�ond ta 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 suff'icient 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 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 first to any prepayment charges and then as described in the Note. NEBRASKA-Single Famfly-Fannie Mae/Freddie Mac UNIFORM INSTRUMEPIT Form 3028 1/01 VMP � VMP6(NE) (1105) Woiters Kluwer Financial Services Page 4 of 17