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200306009 BORROWER COVENANTS that Borrower is lawfully spread of the estate hereby conveyed and bas the right to gram and comedy the Property and that the Property Is uneucunbe cti except for dncumbmmeas of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record THIS SECURITY INSTRUMENT oomhlnes uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to constitute a bulletin occur ry instrument covering real property. UNIFORM COVENANTS- Borrower and Lender covenant and 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 prepayment charges and late charges due under the Note- Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments duo under the Note and this Security Instrument shall be motle in U.S. currency. However, If any check or other Instrument received by Lender ass Payment under the Note or this Security Instrument Is returned to Lender unpaid Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made In one or more of the following forms, as selected by Lender (a) cash', (b) money order', (c) certified check, bank check, treasurer's check or cashier's cheek, provided any such cheek Is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or led Electronic Funds Transfer. Payments are deemed received by Lender when reneivod at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions In Section 15. Lender may return any payment or parried payment If the payment of partial payments are Insufficient to bring the Loan current. Lender may accept any payment or partial payment Insufficient to bring the Loan current, witlwu( waiver i arty agate f)erreundar or prejudice to Its rights to refuse such payment or partial payments In the future, but Lender is not obligated to stay such payments at rho time such payments are accepted If each Periodic Payment is applied as of Its scheduled due date, then Lender need not pay interest err uncoated funds- Lender may hold such unappfled funds until Borrower makes payment 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 tirena to Borrower. 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 Borrower Lam 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 Section 2, all payments accepted and applied by Lender shall be applied in the allowing order of prlorlty. (a) Interest due under the Note; (b) principal duo under the Note', (o) amrnmts 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 he applied first to Tate 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 Borrower for a delinquent Periodic Payment which Includes a sufficient amount to pay any late charge due. the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received tram Burrower to the repayment of the Periodic Payments it, and to tine extent that code payment can be paid In full. To the extent that any excess exists after Ice payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges tlue. Voluntary prepayments' shall be applied first to any prepayment charges and then as described the Note. Any application of payments, Insurance amasses, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shell pay to Lender on the day Periodic Payments are due under the Note, until the Note Is paid in NII, a spin (the "Funds ") to provide for payment of amounts due for (o) taxes and assessments and other Items which can attain prlorlty over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, It any (c) premiums for day and all Insurance required by Lender under Section 5. and (d) Mortgage Insurance premiums, If any, or any sums payable by Borrower to Lender In lieu of the payment of Mortgage Insurance premiums in accordance with this provisions of Section 10. 1 rose Items are called "Escrow Items." At origination or at any time during the term of the Loan. Lender may require that Community Association Dues, Fees, and Assessments, it any he escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to he paid under the Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation In pay the Funds for any or all Escrow Items. Leader may waive Borrower's obligation to pay to Lender Funds fur any or all Escrow Items at any time. Any such waiver may only his In writing. In the event of such waiver, Borrower shall pay directly, when and where payable, trap amounts due for any Escrow Items for which payment of Funds has been waived by Lender and If Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may realuire. Borrowers obligation to make such payments and to provide, receipts shall for all purposes he deemed to be a covenant and agreement contained in this Security Instrument, ear the phew "covenant and agreement" is used in Section 9- If Borrower Is abllgated to pay Escrow Items directly. pursuant to a waiver, and Borrower tails to pay tine amount one, for an Escrow Item, Lender may exorcise Its rights under Section 9 and pay such amount and Borrower shall than he obligated under Section 9 to repay to Lender any such arnounl. Lender may revoke the waiver as to any or all Escrow Ilene at any time by a notice given In accordance with Section 1b and, upon such rov sdatlon, Borrower shall pay to Lender all Funtls, and In such amounts, that are there required under this Section 3. Lender may, at any time. culled and hold Funds In an amount (a) sUf iciaut to Permit Lender to apply the Funds at fie time specified under HESPA, and (b) not to exnoed the maximum amount o ardor can usable, under RESPA- Lender shall es'taaaate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise In accordance with Applicable Law. The Funds shall be held in an Institution whose, deposits are insured by a federal agency. Inslrumpabillty, or entity ( Including Lender, it Lender N an Institution whose deposals are so inured) or In any Faderal Home Loan Bank. Lender shall apply the Funtls to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and 'applying the Funds, annually analyzing the escrow convent, or verifying the Facrow Items. unless Leader pays Borrower interest on the Funds and Applicable Law Parade Leader to nhokc such a charge. Unless an agreement is made, In writing or Applicable Law requires Interest to be paid on the, Funds, Lender shall not be required to pay Borrower any interest or paintings on the Funtls. Borrower and Lender can agree In writing, however, that interest shall be paid an the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by HESPA. It there Is a surplus of Funds held in escrow, es defined under RESPA. Leader shall account to Borrower for the excess funds In accordance with RESPA. If there is a shortage of Funtls held In escrow as defined under RESPA, Lander shall notify Borrower as required by RESPA, end Borrower shall pay to Lender the arnounl necessary to make up this shortage in accordance with RESPA but in no more than 12 monthly Payments. If there is a deficiency of Funds held In escrow, as defined under RESPA, Lander shall notify Boraowar as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up The deficiency in accordance with RESPA, but In no more than 12 monthly payments. Upon payment In full of all sums secured by this Security Instrument, I. ender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Gems. Borrower shall pay all taxes, ass'es'sruento charges, fines, and Impositions attributable to the Property wench can chain prlalry over this Security Instrument laas,hold payments or ground rents on the Propdny, If any and Community Association Dues, Fees, and Assessments, it any. To the extent that these itcins are Eacmw Items, Borrower shall Pay Them In the manner provided In Section 3- Borrower shall promptly discharge any lien which has priority over this Reentry Instrument unless Burrower'. (u) agrees In writing to thin payment of the Obligation secured by the lien in a manner enveptable to Lender, but only se long as Borrower is performing such agreement Ib) contests the lien in good faith by, or defends against enforcement of Pte lien in, legal proceedings which In I Pnde,r's opinion operate to prevent fie enforcement of the lien wrile those proceedings are pending, but only until such proceedings are convinced or (q venues from the holder of the lien an agreement satisfactory to Leader subordinating the lien to this Security Instrument If Lender dmenninds that any part of fie Property Is subject to a lien which can amid priority over this Security Insinuated Lender may give, Borrower a notice identifying the lien. Within 10 days of the date on winch that notice is given, Borrower shall satisfy tine lien or take ono or more of the brans set forth above In this Section 4. hurter may require Burrower to pay a one -time charge for a real estate tax verification and/or reporting arcree, aced by Lender in connection with this Than 5. Property Insurance- Borrower shall keep tine Inipauvemants now existing er hemater erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any otter hazeps Including, but not limited to everar ekes and floods, for which Lender requires Insurance. Tuffs' Insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to tine preceding wardrobe can change inning the term of the Loan. The Insumnce osrier providing the insurance shall be search by Borrower subject to Lenders right to disapprove Borrowers choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, In connection with Thin Loan, either (a) a onetime charge for flood zone determination, confusion and tracking services, or (b) a and time charge for flood zone determination and certification services and Sebsege,rn charges each time reentrances or similar changes Occur wrior reasonably might affect such determination or certification. Borrower shall also be resIm nsibde ter the payment of any teas impatient by The Federal Emergency Management Agency in connection with the review of any flood zone NEBRASKA Single Family Fannie MarsEreddie Mac UNIFORM INSTRUMENT Form 30281/01 Page 2 Of 6