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�0��065�2 BORROWER COVENANTS that Bonower 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. Bonower 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 national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securiry instrument covering real property. Uniform Covenants. Borrower and Lender covenant and agree as follows: Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and integest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escmw 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 instrument 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 arder; (c) certified check, bank ch�k, treasurer's check or cashier's check, provided any such check is drawn upon an insriturion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when rec:eived at the lacarion designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Secrion 15. L.ender may return any payment or partiat payment if the payment or partial payments are insufficient 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 prejtidice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated ta apply such payments at the time such payments aze accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lencter may hold such unapplied funds until Bonower makes payments to bring the Loan current. If Bonower 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 to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payxnents due under the Note and this Security Instrument or performing the covenants and agr�ments secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, a11 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 he applied first to late chazges, seconct to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender rec;eives a payment from Borrower for a delinquent Periodic Payment which includes a su�cient 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 from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in fu11. To the extent that any excess earists 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 first to any prepayment charges and then as described in the Note. NEBRASKA-Single Famfly-Fannta Mae/Freddie Mac UNIFORM IfdSTRUMENT VMP Q Woiters Kluwer Ffnancial Services Form 3028 1/01 VMP6INE) (1105) Page 4 of 17 � � �� �