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20�106794 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Progerty is unencu.mbered, except for encumbrances of record. Bonower wattants and will defend generally the title to the Property against all claims and demands, subj�t to any encumbrances of rec;ord. THIS SECURITY IN3TRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to consritute a uniform security instrument covering real proparty. Uniform Covenants. Bonower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, 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. Bonower 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. cu.rrency. However, if any ch�k or other instrument rei;eived 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 S�urity Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank ch�k, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instnimentality, or enrity; or (d) El�tronic Funds Transfer. Payments are deemed r�eived by Lender when received at the location designated in the Note or at such other 1�atioII as may be designated by Lender in accordance wit� the notice provisions in Se,crion 15. Lender may ret�rn any payment or partial. payment if the payment or gartial payments aze insu�cient to bring t�e �.oan cixtirent. Lender may accept �y payment or partiat gayment insufficient to bring the Loan current, wit}�au� �iwe� o�f any rigl�ts hereimc�er or preludice to its rights to refuse such gayment or partial paymeuts in. tt� futrire, br�t �.endeP is uot ob�igated to apply such g�yments at the tiine such payments are accepted. T� �S Peri�ic Payment is a�piiecfi. as af its sch�xiuled due ciate, t2ten Lender need not pay interest on unappiiee� �ds. L,ender may hold sueh us�apgiiecfi funds until �rrrower makes payments to bring the Loan current. If �rrower c�Oes not c�o so within a reasonable perial of time, Lender shall either apply such funds or reEum them to Borrower. If not applied earlier, such funds wiIl be applied to the outstanding principat balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender sha1F reIieve Borrower from making payineents due under the Note and this Security Instru,ment or �rformiag the covenants and agreements secured by this Security Instrumen,t. 2. Applieation of Payments or Proceeds. Except as otherwise described. in this Section 2, all payments accepted anct 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. Sucli 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 chazges, second to any other amounts due under this Se,cu.rity Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a suff'icient 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 full. To the extent that any excess exists after the payment is applied to the fu11 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 Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Wolters Kluwer Financial Services Form 3028 1101 VMP6lNE) (1105) Page 4 of 17