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zo�2u�s4� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and conveg the Proper�y 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 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: 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 chazges and late charges due under the Note. �orrower 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 Instrurnent is returned to Lender unpaid, Lender may require that any or all subsec}uent payments due under the Note and this S�ecurity Instru��nt he ma@e in one or more of the following forms, as selected by Lender: (a) cash; (b) moaey order; (c) certified check, bank ch�k, treasurer's ch�k or cashier's check, provided any such eheck is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or eatitx; or (cP) IIectronic Funds �'ransfer. Pay�ts. are deemed received by Lender when received at the location designated in the Note or at such other Iocation as may be desi� by Lender in accordance with the norice provisiens ig Seetion 15. Len�er may return any paymeat vr p�rtial pa�tlnent if the payment ar partial paymeats aze insufficient to bring the Loan current. £.ender may xcept a�ay payment or partial payment insuffciern to bring the Loan current, without waiver of azry rig�its hereunder or prejuctice to its rights to refuse such payment or garti�l paymenLs in the future, but I,endeg is not obIigated to apgly such payments at the time such payments are accept�. If each Peri�ic Payment is applie� as of its scheduled due date, then I.ender �eed �t pay iuterest vn unapplied funds. Lender may hold such unapplie� furcds until Borrower makes gaymeats to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such fimds or return them to Borrower. If not applierl eazlier, such funds will be appliert to the outstanding principat balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have nvw or in the future against �der shall retieve Borrower from making payments due under the Note an� tt�is Security Instrument or performing the covenants and agre,ements secured. by tt�is Security Instrument. 2. Applica�ion of Payments or Proceeds. �xcept as otherwise described in this Se,ction 2, alI payments accepted and applied 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 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 chazges, second to any other amaunts due under this Security Instrument, and then to reduce the principal batance of the Note. If Lender receives a payment from Borrower for a delinquent Periadic 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 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 e�cists 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-S(ngle Fami�y-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP 0 VMP6INE) 11105) Wolters Kluwer Finandal Services Page 4 of 17