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�01�0704� BORROWER COVENANT5 that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Propezty and that the Property is unencumbered, except for encumbrances of record. Bonower warrants and will defend generally the title to the Property against a11 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 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. Bonower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment chazges and late charges due under the Note. Borrower shall also pay funds for Fscrow 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 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 check, treasurer's check or cashier's check, provided any such check is drawn u�n an institurion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) IIectronic Funds Transfer. Payments are deemed received by I.ender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the nvrice pmvisions in Secrion 15. Leuder may retzu� any �ayment or gartial payment if the payment or g�ea� payments are insufficient to brircg the Loara c�rre�t. I.�der may accept any payment or partial p�ymer� ir�ff�cieret to bring the L,oan current, vvithou� vv�� o€ an�r �igFits hereuntfier or prejudice tcr i� aig�ts t�r ref�se such gay�nent or partial payments i�e tlse �ut�xe, Fsut �saies is not c�b�iga�e� to �pply �ach g-a�rrBe�cis at ti�e tiane such gaymer�ts are a�ce�tt:e�. If �t Pe�i�tdi� P�y� is a�rl� as of its schedvl�d �ue d�, �heB. �� no� pay iutezest on �gplie� f't�mets. L�e�s may �toicfi su�fi �ppliec� fuads w�i Borrowes makes payr�ts to �Sring tt�e Lo� curFe�t. � B�rrower c�es no� do so within a reasonabte perioc� crf tirne, �der s1�It either apply such fiznds or return tttem: ta I�orrawer. If not applied earlier, such funds wilI be applie� to the outstanding principat balance uncter tke Note immediately prior to for�losure. No affset ar claim wluch Bvrrower might have now ar ffi the future agai�st Lender shatl relieve Borrower frorre makin,g gayments due urtder the Note and this �i�ty L�nt or performing the covenants arcd agre�meats secured �y this Security Instrument. 2. Application of Paymerits or Proceeds. Except as otherwise descri�Ci 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 IVote; (b) principat due under the Note; (c) amounts due under Section 3. Such payments sha11 be applied to each Periodic Paymsnt in the order in which it hecame due. Any remaining amounts shall he applied first to late charges, second to any other amounts due under this 5ecurity 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 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 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 eausts after the payment is applied to the full payment of one or more Periodic Payxnents, 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 Form 3028 1/01 VMP p VMPB(NE) (1105) Wolters Kluwer Financial Services Page 4 of 17