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201200040
<br />Mor�age Ins�ers evaluate their total risk on all such insprance in foree f�m 'time to time, and raay
<br />enterinto age�ments with oth�parties that shar� orm�ifytbearisk, orreduce losses, These agreeme�ts are on
<br />tenns aud r.oi►dibicx�.s that are satisfactory to ihe mortgage insur�r aztd the other party {or parties) to fhese
<br />agreements. These agreements may requira the ruortgage msurer to makke pa.yments usmg any source of fimds
<br />tltat the mortgage nasurer may have avala�le (vvvltich m�ay includ� fimds obtam+2d from Mortgage lnsurartce
<br />p ���As a result of these agnaea�nts, Lender, ac�' p�uchaser uf the note, anotl�er ins�rrer, any reinciu+ar; any
<br />othereut�y, or affiliate af any ofthe foregoing, may rec�re {directiy or ind'uectly) amountstliat deriv� from (or
<br />mightbe characterized as} apnrtton of Boaower's pay�enis for Mortgage Insuranpe, in eacchange for sharmg w
<br />madify3ng ihe mflrtp�;e msurer's risk, � reducing lo�es. Ifsuch agreement provid�d that an affil�ate ofLender
<br />takes a shar� of the msiuer's risk iu exohange fcx a share of#he pre��uns paad to #he fresurer, the artangement is
<br />often termed "captive reiasurance." Further.
<br />(s) Any saeh agr�ements ryill not aifect tiie �ot�nts tl�t Borrmver has agreed to pay for Mortgage
<br />IosaraQCe, or any other ter�es of t�e Loan. Such agreemen� will not incr�se the aiuount Borrower will
<br />owe for Mortgage Insurance, and �hey �vviU not entttle Barrower to any rethnd.
<br />(6) Any such agreements will nat affect th� rights $orrower has — ff any — wi�F� respert to tbe
<br />Mortgage �nsurance under the Hoareowrners Protection Act o# 1998 or any ot6�r law. These rlghts may
<br />include the rigID�t W r�eive certain disclosures, fiu regn�st and obtain cancellatiaa of th� Mortgage
<br />Insurance, to have #6e Mortgage Insnrance termioated aatomaticalty, atndlor fa recei�ve.a refand of a�y
<br />NloFtgage Ipsu�ance premiu,ms tha# svere nnearned at the ifime of snch caneellatiQn qr'Eerminalfpa.
<br />11. Assfgnment of M�Seeltaneons Proceeds; Fari'eitnre. All Misaeilaaeaus Pr�eeds are hereby
<br />assigned to and sha�l be paid to Lender.
<br />If the Properry is damaged, such Miscellaneous Proceeds shall be applied to restard.tion or re�ir of the
<br />Progerty, ifthe restoraUon or repa�r is earnormcalty feasble and Leader's security is not lessened Durmg such
<br />repair and r�ctoration period, Lender sh,ail hav� ttte right m hold such Mis+eellan�us Proceeds until Lender has
<br />had a� p� to inspect such Property to ensure the work has t�en completed w Lender's satisfactiari,
<br />provided� i4►at s�uch shaZl be undertals�n promptly. Lend¢s rnay pay for the repairs and restoration in a
<br />single disbvrsement or m a series ofpro� Aaymebts as the work is c�mpleted. Unless au agreemenrt is made in
<br />writmg or Applicabl� Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be
<br />requffed to pay Burrower azry interestor earnings on such Miscellan�s Proceeds. If the ie,storation or is
<br />aot economically feasible or L�nder's security wonld be lessenal, the TV�scetlaneous Pc�oceeds shal� be spp�W
<br />the swns secured by this Security Znstnument; whether ar not then due, v✓ith the ext�ess, if any, p8id to $orrower.
<br />Such Miscellaneons Proceeds sYiall be applied in the order provided for in �edaon 2.
<br />In the eve�rt of a total tala�g, destrucrion, or lqss in value of the Property, the Miscellaneaus Froceeds
<br />sh�Il be applied to the suras secure� by this Se�u�ity Instrument, whether or not then due, with the ext�ss, if �ny,
<br />paid to Sorrower.
<br />In the event of a partial taking, destrucpon, or loss it► valu� oftho Propert� m which the fair�rket value
<br />of the T'roperty imnaediately h�fore the partial t�atang destruction, ar lass u� vaine ts e�ua[ to or grear,er�an the
<br />amourn of the su� secw�d by th�s Securit�r Irtstnun�nt �unediataly before the �al talang, desttuction, or lo5s
<br />a► value, unless Borrower and L�der otherwise agrea in writing, the sums securec� by this Sscurifiy Instrument
<br />shall b� reduced by the amaunt af the Miscellaneous Proceeds mu]tiplied by the foIlowing fi�tion: (a) the total
<br />amountaf the suins secFVed immediately before the pardal taking, c�estruction, or lass in vaiue �ivided by (b} tl�e
<br />fairmarket value oftl�e Proper� im3ned'�ately befor� the parEial taku�g, destr�uction, or lvss m v01ue. 1�ny balance
<br />shall be paid to Borco�rer.
<br />in the evem of a partial i�in� destruction, or yc�ss m'value ofthe Pnapetty in vt�hich the fair nr�ucicet value
<br />af the praperty immediately Ixfore the parti2l t�rng, destruction, or loss in value � less than the amownt of the
<br />sums secured iu�edia�tely �efore the rtial takaa� ,'c.es�uction, or 13ss u� velt�e, wnless Borrot�ver and LeIIder
<br />otherwise agrea in writing, the Misce�eo�s Fr�eeds shall be applied tp the sua�s securad lry this Security
<br />Inshvment wheth� or not the suans are then du,e.
<br />If the Property is abandoned by Borrawer, or if, a�er notiee by Lender W Borrower that tl�►e Opposiag
<br />Party {as @efined in the next sen�ence} offers to make �a award to se�tia a claim far damages, Borrower fails to
<br />respond to I,en+dez within 30 days after tiiA date the notice i� given, Leer�der is a�thorized to collect aind apply �he
<br />Miscell�reous Proceeds either #o rastoration os repair of the Pro�rty or to the sums seeured by this Secunty
<br />Inspvment, whether �r not then due. "Upgosing Party" m�aas the thic� party t�at owes �orrower Miscellaneous
<br />Procee� or the party against whom Borrower has a right nf action in regatd to M9scetlaneaus Praceeds.
<br />Horrow�r shall i�e m default if any action or proceeding, whether civil or crimitial, is begun that, in
<br />Lender's judgment, could result in forfeitaue of the Prv�rty or other material impairment of Lender's �sterest in
<br />the Properry or nghts under this Secw�►ty Instru�¢ent Bozrowe�r can cure such a default and, if accelera#ion ha�
<br />occ�red, reinstate as provifled in Section 19, by cavsing the action or prace�ing to b�a dismisse� with a ruling
<br />that, in L�nder's judgment,praelude.s forfeitur� uf the Propcxty or other material i�npairment of i.eader's int�rest
<br />�h the Propezty � rights under this Security Insdtu�ne�. The groceeds of aay awaid orclatim for dama$es that are
<br />attributableto the impasment ofLender's inter�t in the Prapeny are hereby assigned andshall be paidto Lender.
<br />AA IViiscellar►eous Proceedsthat arenotagplied to restor�tion urrepair ofthe Progerty shall be appTed in
<br />the order provide�l for in S�t,ion 2.
<br />1$. Bvnayver Not Released: F�rbearaace By LEnder Not a Warver. Extension of the time for
<br />payment or modific�aon of amorti��ion of the sums secu�etl by this Secarity Ins�nmient braiated by Lender to
<br />�oapwer or aay SucCessor in Inter�st of Borrower shaU ttot ogarate to release the 1�ability of Barrower or any
<br />Successois in Interest of Borrrc�w�'. Le�der shall not be required to eommence pr�cee�gs agamst at�y Successor
<br />in Int�t of Borrower ar � refi�se to extend tirae for p�.yment t�r otherwise modify amortization of the sums
<br />secured by this S�curity Inssnunentby rea,son ofany aemandmade bY the original Borrowerorany 5ucc�,sors in
<br />Tnter�t of Borrower. Arsy forbearanee by Lender in exercising any nght or remedy ulcluding, wifho�rt limi�tion,
<br />Lender's acceptarice of gayments from thurd peisons,, �tities or ��essois m 1nt�est of �orroweror ia
<br />atpounts le�s th�a the amount then dne, shall not be a t�va�ver of or preclude the exescise of any righY or remedy.
<br />13. Jo€af and �veral Y�abilfty; Casigaers; Snc�essors and Assigns Bound. Boaower covenants
<br />and agrees that Borrower's oh�ig�tions and liabiiity shall be�oim and severaL �Iowever, any Borrower who ca
<br />signs this Security Instn�ent but �S not execute th�e Note (a "co-signer"}: (a) is co-sigmng this. Security
<br />YnsG'ut�eat only to mortgag�, grant and cnnvey the co-siener's interest in �tt►e Property imder th.e terms of this
<br />Secwity Tnstrumen� (b) is not parsonally obligated to pay the sums securad by fhis Se�urty Insh�ument; and (c)
<br />agrees that Lender and �y other Borxo�rrer can agree to extend, a�dify, forbear or malce aIIy �ccommodatians
<br />witi� regard w the teims of t�is Security instnement or the Note without the so-siguear's consent,
<br />NEBRA57CA-.Single Fam�y—Faaaie MsdFYeddie Msc'IJNIFORM ri�ISTRiJME}V'1' (MERS} Form 30Z81W1 (paSe ��l�Pdb'�s1
<br />12439.CV(9/1i) RL10689 Creative771dnlan$,L►c.
<br />GO'f'0�00002ce6)
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