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201208396 BORROWER COVENANTS that Borrower is lawfully seised of the estate herehy conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to rhe Property agains[ 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 jurisdiction to constimte a uniform security instrument covering real property. Uniform Covenants. Borrower and Lender covenant aud 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 prepaymern chazges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuarn to Section 3. Payments due under the Note and this Security Instrumem shall be made in U.S. currency. However, if any check or other instnunent received by Lender as payment under the Note or this Security Instrument is returned[o Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Ins[rument Ue made in one or more of the following fotms, as sel�ted by Lender: (a) cash; (b)money order; (c) certified check, bank check, treasurer's check or cashier's chesk, provided any such check is drawn upon an institution whose deposi2s aze insured by a federal agency, instrumentality, or entity; or(d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designate�in the Note or az such other location as may be designated by I.ender in accordance wi[h the notice provisions in Section 15. Lender may retum any paymen[or partial payment if the paymen[or panial payments are insu�ciem to bring the Loan curren[. Lender may accept any payment or par[ial payment insufFicient to bring the Loan cuneni, wi[hout waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paymems in the future, but Lender is not obligated to apply such payments at the time such payments ue accepted. If each Periodic Paymern is applied as of its scheduled due date, then Lender need not pay irnerest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the L.oan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or returtt them to Honower. IF not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower migh[ have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Securiry Instrument or performing the covenants and agreements secured hy this Security Instn�men[. 2. Application of Payments or Proceeds. Except as othenvise described in this Secpon 2, all payments accepted and applied by L.ender 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 Section 3. Such payments shall be applied to each Periodic Payment in[he order in wluch it became due. Any remauung amounts shall be applied 6rst to laze charges, second to any other amounts due under this Security Insuument, and[hen[o reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquen[ Periodic Payment which includes a sufficient amoun[to pay any late charge due, the payment may be applied to the delinquent paymeut and the late chazge. If more than one Periodic Paymem is outstanding, Lender may apply any payment received from Borrower ro the repayment of the Periodic Payments if, and to the extent that, each paymem can be paid in fu1L To the extent that any excess exists after the payment is applied to the full paymem of one or more Periodic Payments, such excess may be applied to any late chazges due. Volumary prepayments shall he applied first to any prepayment chuges and then as described in the Note. NEBFASKA-Single Famiiy-Fanrne Mae/Fretltlie Mac UNIFOflM INSTRUMENT Form 3028 1(Oi VMP� VMPBINE)tl 1051.00 Wol�ars Kluwer Flnencial Servicas PaAe 4 of 1 J