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201208476 BORROWER COVEI�rA.NTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to gant and convey the Properry and that the Property is unencumbereu, except for encumbrances of record. Borrower warrants and will defend generally the fitle to the Properry against all claims and demands, subjecf to any encumbrances of record. THIS SEC`URITI'INSTRTIMENT combmes unifrnm covenants far national use and non-uniform covenanfis with limited vaziations by jurisdicti.on to covstitute a unifbrm secutity instruinent covering real prpperCy. Uni�orm Covenants. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayrnent Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges �d late chazges due under the Note. Boaower shall also pay funds for Esecow Items pursuant to Section 3. Fayments due under the Note and this Secuiity Insirument shall be anade in U.S. currency. However, if any check or other insm�ricnt received by Lender as payment under the Note or this Security Insh-ument is returned to Leader unpaid, I,ender niay require that any or all subsequenT payments dne undez the Note and this Security Instrument be made m one or inore of the following forms, as selected by Lender: (a) cash; (b) moaey order; (c) cer[ified chzck, bank check, tceasurer's check or cashier's Check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentalit}�, or enuty; or(d)E1ee;tronic Funds Transfer. Payinents are deemed received by Lender wheu received at the location desigiated iu the N�te or at such other location as may be designated by Lender in aecordance wi[h the notice provisions in Section 1�. Lender may return any payment or partial payment if the payment oi partial payments are insufficient to bring the Loan curretrt. Lender may accept any payment or parti3l p�ymeat insuf$cient[o bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the fiature, but Lender is not obligated to apply such payxnents at the time such payments are accepted. If each Periodic Payment is applied as of its schzduled due date, flien Lender nced not pay interest on unapplied funds. Lender may hold such unapplieci fiands until Borrower makes payments to bnng the i,oan curter.t. If Borrower does not do so within a reaspnable period of time, Lander shall either apply such fixnds ox xeriun 2hem to Borrowei. If not appli�l earlier, such funds v✓ill be applied to the outstanding principal baiance under lhe Note uxunediaTely prior io foreclosure. No offset or claim v✓hich Borrower might S�ave now or;n fhe fufut�e against Lender shall xelieve Borrower from making payments due imder the Note and this Security Inshvmen[or perfomvng the covenants and agreements securcd by this Security Instrument. 2. Application of Payments or ProCeeds. Except as otherwise described in this Section 2, all payments accepted and app&zd by Leuder shall be applied in the following order of prioxi4y: (a)interest due under the Note; (b)priacipal due under the Note; (c) �nounts due under Secflon 3. Snch payments shall be applied to each Periodic Payment in the ordcr in which it became t�ue. Any remaining amounts shall be applied first to late charges, second to any other amounts due undcr tlti.s Security Inshument, and then to reduce the principat balance of the I�Tote. If Lender receives a payinent froin Borrower fox a delinquent Periodic Payment which includes a suffrcienf am�unt to pay any Iate cl�arge due, the payment may be applied to the delinquent payment an$the late chazge_ If more than one Penodic Payment Is outstanding, Lendes may apply any pa}anent received from Borrower to�the repayment of the Periodic Yaymcnts if, and to the eYtent tliat each payment can Ue paid in full_ To the extenT fhat any excess exists after the payment is applied to tiie full payment of one or moxe Periodic Payments, such exeess may be applied to any late chasges due. VOluntary ptepayincnts shall be applied first to any prepayment charnes and then as described in the Notc. zaoosa?a NEBRqSKA-Single Fsmily-Fannie MaelRedtlie M11ac ONIPORh1 MSTRUM ENT Fortn 3a28 1i0? Vbi P�j VM PG(N�(1 f O6) 'Vclters Kluwer Finarcial Services Pzge 6 of 1]