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20�103�9� BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey We 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, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for nattonal use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Iaterest, Escrow Items, Prepayment Charges, and Late Charges. Borrower 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. Borrower shall aLso pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrurnent received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, 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 insfltution whose deposits are insured by a federal agency, instrumentality, or enflty; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the locaflon designated in the Note or at such other locaflon as may be designated by Lender in accordance wiW the notice provisions in Section 15. Lender may retum any payment or partial payments if the payment or partial payments are insui�icient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejndice to its rights to refuse such payment or partial payments in We future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Perlodic 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 raakes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or aeturn them to Bonower. If not applied earfler, such funds will be applied to the outstanding principal balance under the Note unmediately prior to foreclosure. No offset or claun wluch Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and Wls Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proc�eds. Except as otherwise descdbed 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 Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other NEBRASKA — Single Femlly — Faanio Mae/Fraddia Mac i11VIF0RM IN81RUM6N1' Form 3028 ll01 � e, / (rV GCC - G3028-04 (09/Ol) (Page 4 of19) Initials: