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200205894 TOGETHER WITH all the improvements now or hereafter erected on the property, and all casements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property' BORROWER COVENANTS that Burrower 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. 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 combines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS_ Burrower and Lender covenant and agree as follows: 1. Pavment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal O[ and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Nom. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, irony check or other instrument received by Leader 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 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, treasurers check or cashier's check, provided any such check is drawn upon an institution whose dcposit,v are insured by o federal agency, instrumentality , or entity; or UB Electronic Funds Transfer_ Paymmlls are deemed received by Lender when received at the location designated in the Note Or at such other lucatiun as may be designated by Lender in accordance with the notice provisions in Section I5_ Lender may return any payment or partial payment it the payment or partial payments are insufficient to bring the Loan current. Leader may accept any payment or partial payment insufficient to bring the loan moment, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paymunbs in the future, but Leader is not obligated to apply such payments at the time such payments are accepted_ Hoorn each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the loan current, If Borrower does not do so within a reasonable period oftime, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied in 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 from making payments due under the Nine 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 Leader shall be applied in the following order of priority: (a) interest due under the Nom; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in tire order in which it became due. Any remaining amounts shall be applied first to late charges, second to any Other amuunls 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 it sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge_ If mnrc than one Periodic Payment is outstanding. Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extend [list arty excess exists after the payment is applied to the full payment of one or mare Periodic Payments, such excess may be applied to any late charges due. VOIUntary prepayments shall be applied first to anv prupaymcnt charges sod then is described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments_ 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are duo under the Note, until the Note is paid in full, a sum (the Funds' I to provide for payment of amounts due for (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumhmncc on the Property; (b) leasehold payments or ground rents on the Property, if any; of premiums for any and all insurance NLBRAS:A- Sinelc Family—Tannic Mae/Freddie Mac UNIFORM INSTNC MENI Fenn 30281/01 /Page L of 12 pages) tsc:L e3 vxx it /ra /soon