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� O�� O v J�`^' 1111056861
<br />that MERS hold only legal title to the intcrests granted by Borrower in this Security Instrument, but, if n�c�ssary to comply
<br />with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: ta exercise any or all of
<br />those interests, including, but not limited to, the right to foreclose and scll the Property; and to take any action reyuir�d of
<br />Lender including, but not limitcd to, relcasing and cancelin� this Security Instrument.
<br />BORROWER COVGNANI"S that Borrower is lawtully seised of the estate hercby conveyed and has the right to �rant
<br />and convey the Property and that the Property is unencumbered, exccpt for encumbrances of record. Borrower warrants and
<br />will defend generally the title to the Property against al] claims and demands, subject to any encumbrances of record.
<br />TH15 SECURITY INSTRUMENT cambines uniform covenants tor national use and non-unifarm cavenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument cavering real property.
<br />UNIFORM COV�NANTS. Borrower and Lender covenant and agrec as follows:
<br />1. Payment of Principal, Tnterest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay
<br />when due the principal of, and interest on, the debr evidenced by the Note and any prepayment charges and late charges due
<br />under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
<br />Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment
<br />under the Note or this Security Instrument is returned to Lcndcr unpaid, Lender may require that any or all subscquent
<br />payments due under the Note and this Security Instrument be made in one ar mare of the following forms, as selected by
<br />Lender: (a) cash; (b) money order; (c) certi�ed check, bank check, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose deposits are insured by a federal agency, instrum�ntality, or entity; or (d) Electronic
<br />Funds Transfer.
<br />Payments are deemcd ree�ived by Lender when received at the location designated in the Note or ai such other
<br />location as may 6e desi�nated by Lender in accordance with the noticc provisions in Section 15. C,ender may return any
<br />paymcnt or partial payment if the payment or partial paym�nts are insufficient to bring the Loan current. Lender may accapt
<br />any payment or partial payment insufficient co bring the Loan current, without waiver of any rights hereunder or prejudice to
<br />its rights to refuse such payment or partial payments in the futurc, but Lander is not obligated to apply such payments at the
<br />time such payments are accepted. lf cach Periodic Payment is applied as of its scheduled duc dat�, then Lender need not pay
<br />interest on unapplied funds. C.ender may hald such unapplied funds until Borrower makes payment to bring the Loan current. If
<br />f.3orrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower, If
<br />not applied earlier, such Funds will be applied to the outstanding principal 6alance under the Note immediately prior to
<br />foreclosure. No offset or claim which Borrower might have now ar in the future against L�nder shall relieve Sorrower from
<br />making payments du� under the Note and this Security lnstrument or performing the covenants and agreemcnts secured by this
<br />Security Instrument.
<br />2. Application of Payments ar Proceeds. �xcept as otherwisa described in this Section 2, all payments accepted and
<br />applied by I,ender shall be applicd in the following order of prioxity: (a) interest due under the Note; (b) principal due under the
<br />Nate; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it
<br />became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security
<br />Instrument, and then to reduce the principal balancc of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes A sufficient amount to
<br />pay any late charge due, the payment may be applied co the delinquent payment and the late charge. lf more than one Periodic
<br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of'the Periodic Payments if,
<br />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
<br />full payment of one or more Periodic Fayments, such excess may bc applied to any late charges due. Voluntary prepayments
<br />shall be applied first to any prepayment charges and then as described in the Note.
<br />tany application of payments, insurance procceds, or Miscellaneous Proceeds to principal due under the Note shall not
<br />extend or postpone the due date, or change the amount, of the Aeriodic Payments,
<br />3. Funds for Escrow Items. Borrowcr shall pay to Lender on the day Periodic F'ayments are due under thc Notc, until
<br />the Note is paid in full, a sum (the "Funds") to provide for payment af amounts duc for: (a) taxes and assessments and other
<br />items which can attain priority over this Security (nstrument as a lien ar encumbrance on the Property; (b) leas�hold Payments
<br />NEBItASKA--Single Family--Fannie Mae/Freddie Mac UNIFURM INSTRLJM�,N'1'
<br />aJ 3;1R2 Page 3 of 12 Form 3028 1101
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