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201208580 BORROWER COVENANTS that Borrower is lawfully seised of the estate hefeby conveyed and has the right to grant and convey the Properiy and that the Property is unencutnbered, except for encumUrances of record. Barxowex wazrants and��+ill defend generally the title to the Pxoperty against all clauns aud demands, sabject to any encwnbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited vaziations by jurisdiction te constituta a uniform security insisument covcring reai property. Uniform Covenants. BoFrower and Lender cove:�ant and agree as follows: 7. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sha11 pay when due the principal of, and intecest on, the debt evidenced by flie NOte a¢d �yprepayment chazges and late chuges due imder the Note. Borrotiver Sh211 also pay funds for Esccow Items pursuant to Section 3. Payinents due under the Note and this Seeurity Instnunent 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 to Lender uapaid, Leuder may rcquire that any or all subsequent payinents due under the Note at�d this $ecuxify Ixistnmient b0 made in one oz more of the following forms, as selected by Lender: (a) cash; (b) money Qrder; (e) certified cheek, bank check, treasurer s check or cashier's check, ptovided�y such check is drawn upon an institution whose dcposits are insured by a fEdesal agency, instrumentality, or entity, or(d)Electronic Fnnds Transfer. Payments aze de�ned received by Lender whcn received at the localion desgnated in the Note or aT such oth�location as may Ue designated by I,ender in aecordance with the nt�tice provisions in Section 15. I ender may retum any payment or p�tial payu�ent if the payment or partial payments are insufficient tp bring the Loan curren� Lender may accept any payment or paztial pa}nnent insufficient to bring the Loan current, without waivex of any zi�ts hereunder qr prejudice to its rights to refiase suchpayment or partial payments in fhe fuhue, but Lendet is not obligated to apply such payments at the time such payments aze accepted if each Periodic Payment is applied as of its scheduled duc�date, then Lender need not pay interest on unapplied funds. Lcndcr may hold such unapplied funds unril Borrower makes payments io bring the Loan current. If 3orrower does not do so within a reaeonablz pe:iod of time, Lender shall either apply euch funds or renun thzm to Borrov��er. If not applied earlier, such Fimds will be applied to the outstanding principal baiance Lmder the Note immediaiely prior to foreclosure. No oifset or claun which Borrov✓er might have now or in the fuhue against Lender shall relieve Borrowcr from making payments due under Yhe NoSe and this Sccucity Instnmient or performuig the covenants and agreements secuxed by this Seeurity Instrument. 2. Application of Payments or ProCeeds. Except as oYher«ise described in this Section 2, all payments acccplcd and applied by I.ender shall be applieci in thc f�1loGving 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 fhe order in which it became due. Any remainiug amounts sha11 be applied fust to late aharges, second to any other amounts due under this Security Instnunent, and then to reduce rhe principal balance of the Note. , If Lender receives a payment from Borrower for a delinquent Periodic Payment��hich includes a sufficient amount to pay any late chazge due, the payment may be lpplied Lo the delinquent pay-ment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from. Borrower fo the repayment of the Periodic Payinents i� and to the extenT that, eaeh payment can be paid in full. To the ex2ent that any excess exists a£ter the payment is applied ta the full payment of one or more Periodic Paymeuts, such excess may be applied to any late charges due. Voluntary prepayments shall be applied fust to any prepayxnent charges and then as described zn the Note. 240D2435 NeBRASKA-Si�gleFamily-F@nnie6laefFretltlleMacJNIFORNI IRSTRUMENT Form 3028�!0? VM P p VMP6ME)(i t05) VVolfers Kluw Qr Fnzncial 5=rvices Page 4 oi 1]