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201108609 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and coiivey the Property and that the Property is unencumbered, except for encuinbrances 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 liznited 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. 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 for Escrow Iteins 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 instiument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender rnay require that any or all subsequenC payments due under the Note and this Security Instrument be made in one or inore of the following forms, as selected by Lender: (a) cash; (b) money order; (c) eertified 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 federal agency, instrumentality, or entity; or(d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designaked in the Note or at sucli other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payinent or partial payment if the paymenC or pai�tial 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 prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payinents are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interesC on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return thein to Borrower, If not applied earlier, such funds wi11 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 payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described 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 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 ii1 which it became due. Any remaining amounts shall be appliecl firsC Co late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance oP the Note. If Lender receives a payment from Boi•rower for a deIinqueirt Periodic Payment which includes a sufficient anlount to pay any late charge due, tlle 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 full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied fiist to any prepayment charges and then as described in the Note, 231215 NEBRASKA-Single Famlly-Fannie Mae/Fredtlie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP QO VMP6WE1(1105) Wolters Kluwer Financial Services Page 4 of 17