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201109705
<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 shall 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 sha11
<br /> be applied to the sums secured by this Security Instruinent, whether or not then due, with the excess, if any,
<br /> paid to Borro�ver,
<br /> In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br /> the Property irrnnediately bePore 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 immediately 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 air�ount of the Miscellaneous Proceeds multiplied by the following
<br /> fraction: (a) the total amount of the sums secured immediately before the partial taking, destructio�, or loss
<br /> in value dividec�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 market value of
<br /> the Property immediately before the partial taking, destruction, or loss in value is less than the ainount of the
<br /> sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br /> Lender otherwise agree in writing, tlie Miscellaneous Proceeds shall be applied to the sums secured by this
<br /> Security 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) offers to make an award to settle a claim for damages, Borrower fails to
<br /> respond to Lender within 30 days afCer the date the notice is given, Lender is authorized to collect and apply
<br /> the 1Vliscellaneous 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 criminal, is begun that, in I,ender's
<br /> judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the
<br /> Property or rights undex•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 /> claiir�for damages that are attributable to the impairment 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 of the Property shall be applied in the
<br /> order provided for in Section 2,
<br /> 231247
<br /> NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br /> VMP OO VMP6(NE)(1106)
<br /> Wolters Kluwar Financial Services Page 10 of 17
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