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20110038ti
<br />1111057062
<br />with law or custom, M�RS (as nominee for Lendcr and Lender's successors and assigns) has the right: to exercise any or all of
<br />those interests, including, but not limited to, the right to foreclose and sell thc Property; and to take any action required of
<br />�.ender including, but not limited to, releasing and canceling this Security Instrument.
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to �rant
<br />and convcy the Property and that the Property is unencumbered, except for encumbrances of rccord. Barrower warrants and
<br />will defend generally the titic to the Property against all claims and demands, subject to any encumbrances of record,
<br />THIS SEC[JRITY INSTRUMF,NT combincs uniform covenants for national usc and non-unifarm covenanfs with
<br />limited variations by jurisdiction to constitutc a uniform security instrumcnt covering real property.
<br />UNIFpRM COVENANTS. Borrower and Lender cavenant and agrec as follows:
<br />1. Payment of Principal, Interest, �scrow Items, Prepayment Charges, and I.ate Charges. Borrawer shall pay
<br />when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due
<br />under the Note. k3orrower shall also pay funds for Escrow Items pursuant to Section 3. Paymcnts due under the Note and this
<br />Security lnstivment 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 Lender unpaid, I.,ender may require that any or all subscqucnt
<br />payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by
<br />Lender; (a) cash; (b) moncy order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such
<br />check is draw►i upon an institution whos� dcposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic
<br />Funds Transfer.
<br />Payments are deemed received by Lcnder when received at the location designAted in the Notc or at such other
<br />location as may be designaied by Lcndcr in accordance with thc notice provisions in Section 15. Lender may return any
<br />payment or partial payment if the payment or partial payments are insufficicnt to brin� the I,oan current. Lender may accept
<br />any payment ar partial payment insufticient to bring the Loan current, without waiver of any rights hereunder or prcjudice to
<br />its righcs to refuse such payment or partial payments in the fi�ture, but T.endcr is npt obligated to apply such payments at thc
<br />time such payments are accepted. lf each Periodic Paym�nt is applied as of its sch�duled due date, then Lendcr nced not pay
<br />interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes paymcnt to brin� the Loan current. If
<br />Borrawer does not do so within a reasonable period of timc, Lender shall either apply such funds or return them ta Borrower. It
<br />not applied earlier, such funds will be applied to lhe outstanding principal balance under the Note immediatcly prior to
<br />foreclasure. No offset or claim which Borrower might have now or in tha futurc against I,ender shall relieve Borrower from
<br />making payments due undcr the Note and this Security lnstrument or perforn�ing the covenants and agreements secured by this
<br />Security Instrumcnt.
<br />2. Application of Payments or Praceeds. Except as otherwise described in this Sectian 2, �Il payments accepted �tnd
<br />applied by Lender shall be applied in the following order of priority: (a) interest due under tha Notc; (b) principal due undcr thc
<br />Note; (c) amounts due undcr Section 3. Such payments shall be applied to cach Periodic Payment in the order in which it
<br />became duc. Any remainin� amounts shall bc applied tirst to late charges, second to any other amounts due under this Sccurity
<br />lnstrument, and then to reduce the principal balane� of the Note.
<br />lf Lcnder receives a paymcnt from Borrower for a dclinquent Periodic Payment which includes a sufficicnt amount to
<br />pay any late charge duc, the payment may be applicd to the delinquent payment and the late charge. Lf more than one Periodic
<br />Paymcnt is outstanding, Lender may apply any payment receivcd from Bprrpwer to thc repayment of the Pariodic Payments if,
<br />and ta the exteni that, cach payment can be paid in full. To the exteni that any cxcess exists after the payment is applied to the
<br />full payment of one ar more Periodic Payments, such excess may be applied to any late chargcs due. Voluntary prepayments
<br />shall be applied �rst to any prepayment char�es and then as described in the Note.
<br />Any application of payments, insuranca procceds, ar Miscellaneous Proceeds to principal duc under the Note shall not
<br />extend or postpane the due date, or change the amount, of the I'eriodic Payments.
<br />3. Funds for Escrow Itcros. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until
<br />the Nate is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other
<br />items which can attain priority over this Security instrumcnt as a lien or encumbrance on the Property; (b) leasehold payments
<br />or ground rents on the Prpperty, if any; (c) premiums for any and all insurance required by Lendcr under Section S; and (d)
<br />N�,BRASKA--Singlc Family--H'xnnir Mac/Freddie Mac UNiF012M INSTRUMENT
<br />� 338.2 Pagc 3 of 12 Form 3028 U01
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