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�0120Q�3�
<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 />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proc,eeds. 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 Miscellan�us 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 Procceds shall
<br />be applied ta the sums se,cured 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 taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taldng, destruction, or loss in value is equal to or greater than the
<br />aznount of the sums secured by this Security Insm�ment 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 shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total aanount of the sums s�ured immediately before the partial taking, destruction, or loss
<br />in vatue divided by (b) the fair market value of the Property immediately hefore the partial taking,
<br />destruction, 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 Properiy immediately before the partial taking, destruction, or loss in value is less than the amount of the
<br />sums secuteci immecliately before the paztial taking, desixuction, or loss in value, unless Borrower and
<br />Lender otherwise agres in wrriting, the Miscellaneous Proceeds shall be applied to the sums. secured by this
<br />Security InstrumenL whether or not the sums are then due.
<br />If the Progerty is a�cc�oned by Borrower, or if, after notice by Lender to Bonower that the Opposing Pariy
<br />(as defined in the ne�t se8tence) offers to make an awazd to settle a claim for damages, Borrower fa.ils to
<br />respond to Lender vNithin 30 days after the date the norice is given, Lender is authorized to collect and apply
<br />the MiscellaIIeous Fr�s either to restoration or repair of the Property or to the sums s�ured by ttus
<br />Security Tnstniment, �vhether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellan�us Prc�ceeds or the party against whom Bonower has a right of acrion in regazd to Miscellaneaus
<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 />Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Se,ction 19, by causing the action or proc.eeding to be dismissed with a
<br />ruling that, in Lender's judgment, pre,cludes forfeiture of the Properly or other material impairment of
<br />Lender's interest in the Properiy or rights under this Security Instrument. The proceeds of any awazd or
<br />claim 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 S�tion 2.
<br />NEBRASKA-Singla Family-Fannie Mae/Freddie Mec UNIFORM INSTRUMENT Form 3028 1/O7
<br />VMP Q VMP6(NE) (1105)
<br />Wolters Kluwer Financial Servic� Page 70 of 17
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