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' ' 201108849 BORRO�WER 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 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. Payrment 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 sha11 be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Ins�rument 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 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 federal agency, instrumentaliry, 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 Lender in accordance with the notice provisions in Section 15. Ler�der may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insu�cient 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 payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Bonower 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 them to Bonower. If not applied earlier, such funds will be applied to the outstanding pri�acipal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might hav�now or in the future against Lender shall relieve Bonower from making payments due under the Note and this Security Instrument or perfornung the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, a11 payments accepted and applied by Lender shall be applied in the following order of priority: (a)interest due under the Not�; (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 chazges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If L�nder 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, L,ender 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 sha11 be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Smgle Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP� VMP6(NE)(1105).00 Wolters Kluwer Financial Services Page 4 of 17