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2oioQ97iv THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument cavering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree ati follows: 1. Fayment of Principal, Interest, Escrow ltems, Prepayment Charges, and Late Charges. Borrower shal] 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. Sorrower shall also pay funds for Escrow ltems pursuant to Section 3. Payments due under the Note and this Security lnstrument shall be made in U. S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender xaiay require that any or all subtiequent payments due under the Note and this Security lnstrument be made in one or more af the following fartns, as selected by Lender: (a) cash; (b) money order; (c) certified 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 entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received 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 partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payn:aent 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 paynnents 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 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 Borrower. If not applied earlier, such funds will be applied tp the outstanding principal balanc� under the Note immediately prior to foreclosure. No offset or claim whicl� Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Not� 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 following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under 5ection 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remai�ing 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 tha 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 froxia Barrower 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 full payment of one or more Periodic Payrnents, such excess may be applied ta any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Aray application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend ox postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Feriodic Payments are due under the Note, until the Note is paid in full, a surn (the "Funds") to pravide for payznent of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrurnent as a lien or encumbrance on the Prpperty; (b) leasehold payrnents or ground rents on the Property, if any; (c) premiuxns for any and all insurance required by Lender under Section S; and (d) Martgage Insurance 231Q01 NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6(NE) �oe�t) Page4 of 15 Initials: F �✓`!� Form 3028 1/07 � «L�