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201100379 1111056962 with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limitcd to, thc right to forcclose and sell thc Property; and to take any action required of Lender including, but not limited to, releasing and cancaling this Security Tnstrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby canveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for �ncumbrances of record. Borrower warrants and will dcfend gencrally the tiUe to the Property against all claims and demands, subject to any encumbrances of record. TIi1S SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with liinited variations by jurisdiction to constitute 1 uniform security instrument covering real property. UNIFpRM COVENANTS. Borrower and Lender covenant and agree �s follows: 1. Payment of Principal, Interest, �scrow Items, Frepayment Charges, and Gate Charges. Borrower shall pay when due the principal of, and interest on, the debt cvidcnced 6y the Note and any prepayment charges and late charges due under che Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall bc made in U.S. currency. Howevcr, if any check or other instrument received by Lender as payment under the Note or this Security Tnstrument is returned to Lender unpaid, Lender may require thac any or all subs�quent payments duc under the Note and this Security lnstrumcnt be made in onc or morc of the follawin� farms, 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 �gency, instrumentAlity, or entity; ar (d) Electronic Funds Transfer. Payments are deemed reccived by Lender when received at the location designated in the Note or at such other location as may be designated by Lcnder in accordance with the notice provisions in Sectian 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lcndcr may acecpt 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 partial payments in the future, but Lender is not obligated to apply such payments at thc time such payments are accepted. lf cach Periodic Payment is applied as af its scheduled due date, then [.ender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to brin� the Loan current. If Borrower docs not do so within a rcasonable period of time, Lender shall either apply such funds or return them to F3orrower. I f not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediat�ly prior to fnreclosurc. No offsct or claim which Borrowcr might have now ar in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Tnstrument or perforniing the covenants and agreements sccured by this Sccurity lnstrumcnt. 2. Application of Payments or Proceeds. Except as otherwise d�scribed in this Section 2, all payments accepted and applied by Lender shall be applied in the followin� order of priority; (a) interest due under the Note; (b) principal duc undcr the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remainin� amounts shall be applied first to late charges, second to any other amounts due under this Security lnstrument, and then to reducc thc principal balance of the Note. If Lender receives � payment fram Borrower for a delinquent Periodic Payment which includes a sufticient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one �'criodic Payrnent is outstanding C�ender may apply any payment received from T�orrower to the repayment of the Periodic Payments if', and to thc extent that, cach payment can be paid in full. To the extent that 1ny excess exists lfter the payrnent is applied to khe full payment of one ar more Periodic Payments, such excess may be �pplied to any late charges due. Voluntary prepaymcnts shall be applied £irst to any prepayment charges and then as described in the Note. Any application of paymcnts, insurance praceeds, or Miscellaneous Proceeds to principal due under the Not� shall not extend or postpone thc due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items, Borrawer shall pay to Lender on the day Periodic Payments are due under the Not�, until the Note is paid in full, a sum (the "Funds" to provide for payment of amounts due for: (a) taxes and assessments and other itcros which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold paym�nts or ground rents on the Property, if any; (c) premiums for any and all insurancc rcquired by Lender under Section 5; and (d) NEBRASKA--Single Family--Fannic Mae/Freddie Mac UIVIFORM tNSTRUMENT �:� 338.2 Page 3 of 12 fbrm:1028 Upl