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2010U7882 451013306 Tnstrument. All of the foregoing is referred to in this Security InsCrument as the "Property." Barrower understands and agrees that MERS hold only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MBRS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclase and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfulty seised af the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encum6rances 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 lirnited variations by jurisdiction to constitute a uniform security instrument covering real property. LJNIFORM COVENANTS. Barrower and Lender covenant and agree as follows: 1. Payment pf Pr3ncipal, 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 laCe charges due under the Note. 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. Hawever, if any check or other instrument received by Lender as payment under the Note or this Security instrument is returned to Lender unpaid, I,ender 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) certi�ed check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entiry; or (d) Elactronic Funds Transfer. Payrnents are deemed received by Lender when received at the locatian 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 partial payment if the payment or partial payments are insufficicnt 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 paRial payments in the future, but I,ender 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 need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payrnent to bring the Loan current. If Borrower daes nat do so within a reasonable period of time, Lender shall either apply such funds or return them 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 clairn which Borrower mighC have now or in the future against Lender shall relieve Borrower 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 Section 2, all payrnents accepted and applied by Lender shall be applied in the following arder of priority: (a) interest due under tha Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Feriodic 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 fram Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied ta the dclinquent payment and the late charge. If more than one Periodic Fayment is outstanding, Lender may apply any payrnent received from Borrower to the repayment of the Periadic Payrnents 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 full payment of one ar more Periodic Fayments, 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. Any application of payments, insurance proceeds, or Miscellaneous Aroceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Feriodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on thc day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment af amounts due for: (a) taxes and assessrnents and other NEBRASICA.--Single Family--Fannie Mae/Freddie Mac UNIFORM IN9TRUMENT � 338.2 Page 3 of 12 Form 30281/Ol � ,� .