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20120044�
<br />In the event of a partial taking, destruction, or loss in value of the Properly in which the fair market value of the
<br />Property immediately before the partial ta.king, destruction, or loss in value is equal to or greater than the amount of the sums
<br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Securiry Iastrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediaxely before the
<br />partial taking, destruction, or loss in value divided by (b) the fair ma.rket value of the Properly immediately before the partial
<br />taking, destruction, or loss in value. Any balance sha.11 be paid to Bonower.
<br />In the event of a partial ta.king, destruction, or loss in value of the Property ia which the fair market value of the
<br />Property immedia.tely before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the panial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or uot the sums are then due.
<br />If the Properry is abandoned by Bonower, or if, after notice by Lender to Bonower that the Opposing Party (as defined
<br />in the next sentence) offers to make an award to setxle a claim for damages, Borrower fails to respond to Lender within 30 da.ys
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" mea.ns
<br />the third party that owes Borrower Miscellaneous Proceeds or the parly against whom Borrower has a right of action in regard
<br />to Miscellaneous Proceeds.
<br />Bonower sha11 be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Properly or other material impairment of Lender's interest in the Property or rights under this
<br />Securiry Instrument. Bonower can cure such a default and, if acceleration has occutred, reinstate a.s provided in Section 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Properry
<br />or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any
<br />award or claim for dasnages that are attributa.ble to the impairment of Lender's interest in the Property are hereby assigned and
<br />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 order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modif'ication of amortiza.tion of the sums secured by this Securiry Instniment granted by Lender to Bonower or any Successor
<br />in Interest of Bonower sha11 not operate to release the lia.bility of Borrower or any Successors in Interest of Borrower. Lender
<br />shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Securiry Iastrument by reason of any demand made by
<br />the original Bonower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of
<br />Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that
<br />Borrower's obligations and liabiliry shall be joint and several. However, aay Borrower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Securiry Instrument only to mortgage, grant and convey the
<br />co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay ttte sums
<br />secured by this Securiry Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
<br />ma.ke any accommodations with regard to the terms of this Securiry Instrument or the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Securiry Instrument in writing, and is approved by Lender, sha11 obtain all of Borrower's rights and benefits under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Securiry
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Securiry Instrument sha11 bind
<br />(except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Bonower fees for services performed in connection with Borrower's default,
<br />for the purpose of protecting Lender's interest in the Property and rights under this Securiry Instrument, including, but not
<br />limited to, attorneys' fees, property inspection a.nd valuation fees. In regard to any other fees, the absence of express authority
<br />in this Securiry Instrument to charge a specif'ic fee to Bonower sha11 not be construed a.s a prohibition on the charging of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Securiry Instrument or b Applicable La.w.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is �nally mterpreted so that the interest
<br />or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the permitted Limit; and (b) any sums already
<br />collected from Bonower which exceeded permitted limits will be refunded to Bonower. Lender ma.y choose to make this
<br />refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
<br />principal, the teduction will be treaxed a.s a partial prepayment without any prepayment charge (whether or not a prepayment
<br />cha.rge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Bonowet will
<br />constitute a waiver of any right of action Bonower might have arising out of such overcharge.
<br />15. Notices. All notices given by Bonower or Lender in connection with this Securiry Instrument must be in writing.
<br />Any notice to Borrower in connection with this Securiry Instrument shall be deemed to ha.ve been given to Borrower when
<br />ma.iled by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one
<br />Borrower sha11 constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall
<br />be the Properry Address unless Borrower has desigaated a substitute notice address by notice to Lender. Bonower shail
<br />promptly notify Lender of Bortower's change of address. If Lender specif'ies a procedure for reporting Borrower's change of
<br />address, then Borrower sha11 onl� report a change of address through that specif'ied procedure. There may be only one
<br />designated notice address under th�s Security Instrument at any one time. Aay notice to Lender sha11 be given by delivenng it
<br />or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another a.ddress by notice to
<br />Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until
<br />actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the
<br />Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument.
<br />16. Governing Law; 5everability; Rules of Construction. This Securiry Instrument sha(1 be govemed by federal law
<br />and the law of the jurisdiction in which the Property is located. All rights and obligations contained in tWs Securiry Instrument
<br />are subject to any requirements and limitations of Applicable Law. Applica.ble Law might explicitly or implicitly a11ow the
<br />parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibitioa against agteement by
<br />contract. In the event that any prov�sion or clause of this Security Instrunnent or the Note conflicts with Applicable La.w, such
<br />conflict shall not affect other provisions of this Securiry Instrument or the Note which can be given effect without the
<br />conflicting provision.
<br />As used in this Securiry Instrument: (a) words of the masculine gender shall mean and include corresponding neuter
<br />words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note aad of this Securiry Instrument.
<br />18. Transfer of the Property or a Benetficial Interest in Borrower. As used in this Section 18, "Interest in the
<br />Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
<br />transfened in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of wluch is the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />If a11 or any �art of the Property or any Interest in the Properly is sold or transferred (or if Bonower is not a natural
<br />person and a beneficial interest in Bonower is sold or transfened) without Lender's prior written consent, Lender may require
<br />immediaxe payment in full of a11 sums secured by this Securiry Instrument. However, this option shall not be exercised by
<br />Lender if such exercise is prohibited by Applicable La.w.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 30 S 1/01
<br />Bankers Systems. Inc., St. Cloud, MN Form MD-1-NE 8/77/2000 (page S of 7p![geS) �� °'�
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