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201109587 <br /> satisfaction, provided that such inspection shall be undertaken promptly, Lender may pay for the repairs <br /> and restoration in a single disbursement or in a series of progress payments as the work is completed. <br /> Unless an agreement is made in writing or Applicable Law requires interest to be paid on such <br /> Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such <br /> Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would <br /> be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, <br /> whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds sha11 be <br /> applied in the order provided for in Section 2. <br /> In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall <br /> be applied to the sums seciired by this Security Instrument, whether or not then due, with the excess, if any, <br /> paid to Borrower. <br /> In the event of a partial talcing, destruction, or loss in value of the Property in which the fair market value of <br /> the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the <br /> amount of the sums secured by this Security Instrument irmnediately before the partial taking, destruction, or <br /> loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security <br /> Instrument sha11 be reduced by the amount of the Miscellaneous Proceeds multiplied by the following <br /> fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss <br /> in value divided by(b) the fair market value of the Property immediately before the partial taking, <br /> destruction, or loss in value. Any balance shall be paid to Borrower. <br /> In the event of a partial taking, destruction, or loss in value of the Property in which the fair inarket value af <br /> the Property immediately before the partial taking, destruction, or loss in value is less than the ainount of tl�e <br /> sums secured iimnediately before the partial taking, destruction, or loss in value, unless Bori�ower and <br /> Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this <br /> Seeurity Instrument whether or not the sums are then due. <br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party <br /> (as defined in the next sentence) offars to make an award to settle a claim for damages, Borrower fails to <br /> respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply <br /> the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this <br /> Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower <br /> Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous <br /> Proceeds, <br /> Borrower shall be in default if any action or proceeding, whether civil or criininal, is begun that, in Lender's <br /> judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the <br /> Property or rights under this Security Instrument, Borrower can cure such a default and, if acceleration has <br /> occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a <br /> ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of <br /> Lender's interest in the Property or rights under this Security Instrument, The proceeds of any award or <br /> claim for dainages that are attributable to the impairinent of Lender's interest in the Property are hereby <br /> assigned and shall be paid to Lender. <br /> All Miscellaneous Proceeds that are not applied to restoration or repair oP the Property shall be applied in the <br /> order provided for in Section 2. <br /> 231242 <br /> NEBRASKASingle Family-Fannie Mae/Freddle Mao UNIFORM INSTRUMENT Form 3028 1/01 <br /> VMP O VMP6(NE)(1105) <br /> Wolters Kluwer Financlal Services Page 10 of 17 <br />