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2olioo4so B012120WER COV�NANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, sub,ject to any encumbrances of record. 'THIS SECURJTY INSTRUMENT combines uniform covenants far national use and non-uniform cavenants rvith limited variatians by jurisdicdon to constitute a uniform security instrument covering real property. UNIFQRM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Iteins, �'repaymant Charges, and Late Charges. Borrawer shall 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. Borrowar shall alsa pay f'unds for Escrow Items pursuant to 5ectlan 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Nate or this Security Instrument is returned to Lender unpaid, �.ender may reqaire that any or all subsequent payments due under the Note and this Security Instrument be made in one ar mare of the followin� forms, as seleeted by I.ender: (a) cash; (b) money order; (c) certified check, bank check, treasurer s check or cashier's check, provided any such check is drawn upan 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 provisians in Sectian 15. �,ender may return any payment or partial payment if the payment or partial payments are insufficient to bring the I.oan 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 partial payments in the future, but Lender is nat 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 nat pay interest on unapplied funds. Lender may hold such unapplied funds until Barrower makes payrnent to bring the Loan current. If Borrawer does not do so within a reasonable period of time, I.ender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied ta the outstanding principal balance under the Note Immediately prior to foreclasure. No offset or claim which Barrower might 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. Applicatian of Payments or Proceeds, Except as utherwise described in thls Section 2, all payments accepted and applied by I,ender shall be applied in the follawing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. 5uch payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied t3rst to late charges, secand to any other amounts due under this 5ecurity Instrument, and then to reduce the principal balance of the Note. Tf 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 recelved fram Borrower 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 Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied flrst to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpane the due date, or change the amount, of the Periodic Payments. 3. Funds for �serow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Nate, until the Note is paid ln f'ull, a sum (the "�unds") ta provide for payment of amounts due far: (a) taxes and assessrnents and other iterr►s which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Pruperty, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance 001122305971 CitiMortgage 3.2.43.08 Y4 NEBRASKA - 5ingle Family - Fannia MaelFreddie Mac UNIF�itM INSTRUMENT WIT� �-BA(Nq (oe1o) Page 4 of 15 Inicia�s: s FOr171 $p28 1/01 �� ~