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�0��0� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Bonower warrants and will defend generally the ritle 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 limit� variarions by jurisdicrion 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. Bonower 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. Bonower shall also pay funds for Escrow Items pursuant to Secrion 3. Payments due under the Note and this Security Instrument shall be made in U.S. cunency. However, if any check or other instcvment received by Lender as payment under the Note or this Security Instrument is retumed to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instr�ment he made in one or more of the following forms, as sel�ted by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's ch�k, provided any such che,ck is drawn upon an institurion whose deposits aze insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are de,emed rec:eived by Lender when received at the location designated in the Note or at such other location as may he designated by Lender in accordance with the notice provisions in Secrion 15. Lender may retum any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender nee�i nof pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Bonower. 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 might have now or in the future against Lender shall relieve Bonower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Secrion 2, all 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 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 Periorlic 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 Bonower 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 fu11 payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Form 3028 1/07 VMP � VMPB(NE) (1105) Woltera Kluwer Flnancial Servicea Page 4 of 17