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2 41�0$43� 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 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 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 Principaf, fnterest, Escrow ftems, 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 far Escrow Items pursuant to Section 3. Payments due under the Note and this S�urity Instniment sttall be made in iJ.S. currency. However, if any check or other instrument received by L.ender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may reguire that any or a11 subsequent payments due under the l�ote 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 institution whose deposits are insured by a fecleral agency, instnunentality, or entity; or (d) Electronic 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 Lendex in accordance with the notice provisions in Section IS. Lender may return any payn�nt or partial payment if the payment or partial payments are insuffici�nt to bri�g the Loau current. Lender may accept any payment ar partiai gayment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights ta refuse such payment ar partiat payments in the future, but I,ender is not obligatad to appiy such payments at tfie time such payments aze accepted. If each Periodic Payment is applied as of its schedutect due date, ti�n Let�der need not pay interest on unapplied funcls. Lender may hold such unapplied funds until Borrowe� m�alces paytt�nts to bring the Loan current. If Bflxrower does not do so within a reasonahle period of titne, Lender shall either apply such funds or return them ta Bonower. If not applied eazlier, 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 fitture against Lender shali relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Insmiment. 2. Appiication of Payments or Proceeds. Except as otherwise describect in tlus 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 amounts due under this Security Instrument, and then to reduce the principat 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 paymerit 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 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-Singte Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP Q Wohers Kluwer Financial Services Form 3028 1/01 VMP6(NE) (11Q5) Page 4 of 7 7 . �. � � � a � !� d . �