|
�Q��Q9�7�
<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 agr�ment is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellan�us Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellan�us Proceeds. If the restoration or repair is not ec;onomically feasible or Lender's security would
<br />be lessened, the Miscellan�us Proceeds shall be applied to the sums s�ured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Procceds 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 shall
<br />be applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower.
<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 equal to or greater than the
<br />amount of the sums s�ured by this S�urity Instrument immediately before the partial taking, destruction, or
<br />loss in value, unless Bonower and Lender otherwise agre� in writing, the sums secured by this Security
<br />Instrument shall be reduced by the amount of the Miscellaneous Procceds 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 />destrucrion, or loss in value. Any balance shall be paid to Bonower.
<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 amount of the
<br />sums s�ured imme�iately before the partial taking, destruction, or loss in value, unless Bonower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />Security Instrument whether or not the sums aze then due.
<br />If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that ihe Opposing Party
<br />(as defined in the next sentence) offers to make an award to settle a claim for damages, Bonower fails to
<br />respond to Lender within 30 days after the date the notice is given, Lender is authorized to colle�t and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums s�ured by this
<br />Security Instrument, whether or not then due. "Opposing Parly" means the third parly that owes Bonower
<br />Miscellaneous Procceds or the party against whom Borrower has a right of action in regazd to Miscellan�us
<br />Proceeds.
<br />Bonower shall be in default if any action or proceeding, whether civil or criminal, 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 />Properry 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 procee�ing to be dismissefl with a
<br />ruling that, in I.ender's judgment, pr�ludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property or rights under this Security Instniment. The procceds of any award or
<br />claim for damages that are attributable to the impairment of Lender's interest in the Property aze hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellan�us 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 />NEBRASKA-Single Famlly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3026 1/01
<br />VMP p VMP6(NE) (1705)
<br />Woltera Kluwer Finencial Services Page 10 of 17
<br />
|