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2012003��
<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 Bonower any interest or earnings on such
<br />Miscellaneous Procceds. If the restorarion or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proc,eeds shall be applied to the sums s�ured by this Securiry Instrument,
<br />whether or not then due, with the excess, if any, paid to Bonower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Secrion 2.
<br />In the event of a total taking, destrucrion, or loss in value of the Property, the Miscellaneous Proceeds shall
<br />be applied to the sums secured by ttus 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, destrucrion, 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 I.ender otherwise agree in writing, the sums secured by this Security
<br />Instr�ment shatl be reduced by the amount of the Miscellaneous Froceeds multiplied by the following
<br />fraction: (a) the total amount of the siuns secured immediately before the partiat taking, destruction, or Ioss
<br />ia value divided by (b) the fair market vatue of the Property immediately before the partial taking,
<br />destruction, or loss in value. Any balance shall be paid to Bonower.
<br />In the event of a partial taking, desttuction, or loss in value of the Property in which the fair market value of
<br />the Property i�ecliately before the gartial taking, destructioa, or loss in value is less than the amount of the
<br />sums se.c�rec� immediately before the gartial taldng, destruction, or Ioss in. value, unle�s Borrower and
<br />L�cder otherw+ise agree in writing, the Miscellaneaus Ptoce�s shall be applied to the svms secured by t}us
<br />5ecurity Ti►stnimeric whether or not the sums are then due.
<br />If the Property is abandoned by Borravver, or if, after notice by Lender to Borrower that the Opposing Party
<br />(as defined in the next sentence) offers to make an awazd 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 Tnstrament, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellan�us Proce,eds or the party against whom Bonower has a right of action in regard to Miscellaneous
<br />Proceeds.
<br />Borrower shall be in default if any acrion or proc,eeding, 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 />Property or rights under this Security Instrument. Borrower can cure such a default and, if accelerarion has
<br />�curre�, reinstate as provided in Secrion 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 Properiy or rights under this Security Instrument. The proceeds of any award or
<br />cla.im for damages that aze attributable to the impairment of Lender's interest in the Property aze hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Proc,eeds that aze not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />NEBRASKA-Single Family-Fannte Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP6WE) (1105)
<br />Wokers Kluwer Financlal Services Page 10 of 17
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