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�01�06��4 BORROWER COVENANT5 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, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variarions 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, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower sha11 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 Secrion 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 retumed 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 che�ck or cashier's check, provided any such ch�k is drawn upon an institution whose deposits are insured by a federal agency, instnunentality, or entity; or (d) II�tronic 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 norice provisions in Section 15. Lender �y rettu� any payment or partial payment if the payment or partial payments are insufficient to bring the I.oan curreat. �cdei� �g accept aay paymeat or partial payment insufficient to bring the Loan current, �ri4'hout waiver o€ aaECCy rights hereunder or prejudice to its rights to refuse such payment or partial payments �n. the ft�re, but L�.d� is IIot olaligated to apply such payments at the time such payments are accepte�. if eac� Petiodic E'ay�Y is applie� as of its scheduled due date, then Lender need not pay interest on unapglied f�ads. F�neier �}n c��Id sucfi uaapgliec� funds until BQrrower makes payments to bring the Loan current. If B�rrower �fioes rnit � so within a reasonable period of time, I.ender shall either agply such funds or ret�nn the� to Borrower. If aot agplied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Bonower might have now or in the future again.st Lenc�er shall relieve Borrower from making payments due under the Note and this Security Instc�ment or performiug the covenants and agreements s�ured by this Security Instr�meut. 2. Application of Payments or Proceeds. Except as otherwise described in this Secrion Z, 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 be applied first to late charges, second to any other amounts due under this Security 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 sufficient amount to pay any late chazge due, the payment may be applied to the delinquent payment and the late chazge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Bonower 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 first to any prepayment charges and then as descrihed in the Note. NEBRASKA-Single Famlly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT form 3028 1/01 VMP � VMP6(NE1 (1105) Wolters Kluwer Financial Services Page 4 of 17