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20120�499 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convex 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 INSTRUME1�fT 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 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 charge� and late c�arges due under the Note. Bonpwer 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 ch�k or other instnunent 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 follovaing forms, as selected by Lender: (a) cash; (b) money order; (c) certified che,ck, bank check, treasurer's check or cashier's check, provided any such cfieck is drawn upon an institution whose deposits are insured by a federal agency, insmimentality, or entit�.+; or (c�) �lectroaic Funds T'ramsfer. Payments are deemed receiv�d by Lender when received at the l�ation designated in the Note or at such other �a�tion as may be designated by Lender in acxordance with the natice provisions in Section 15. Lender m�y retc� any payment or paitial payment if the payment or partiat payments are insufficient to bring the F.oan �t. Lender may accept any payment or partial payment insufficient to bring the Loan c�arrent, v�thout vvaiver of any rights hereuader or prejudice to its rights w refUSe suck payment or partial paymet�s in the future, but Lernier is nat abligated to apply such payments ax the rime such payments are accepted. Tf each Periodic Payment is agptied as of its scheduled due date, ttien Lender need not pay interest on unappli�l fUnds. I.ender may hatd svch unapplied fiuids v.ntil Borrower makes payments to bring the Loan current. Tf Borrower does not do � within a reasonable period of time, Lender shall either apply such funds or return t3�em to Borrovver. If not agplied. earlier, such funds will be applied to the outstanding principa.l balance under the Note immediately prior to foreclosure. No offset or cIaim which Borrower might have now or in the future agaiast Lender shall relieve Borrower from making payments due under the Note and this Security Insm�ment or gerforming the covenants and agreements secured by this Security Tnstrument. 2. Applicatian of Payments or Proceeds. Except as otherwise described in this Secrion 2, all payments accepted and applied by Lencter shall be applied in the following orcter 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 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 Bonower for a delinquent Periodic Payment which includes a sufficient amount to pax 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 charges due. Volun�ary prepayments shall be applied first to any prepayment chazges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Services Form 3028 1l01 VMP61NE) (1105) Page 4 of 17