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201201060
<br />sarisfaction, provided that such inspecrion shall be undertaken promptly. Lender may pay for the repairs
<br />and restorarion 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 Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Praceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Bonower. Such Miscellan�us Proceeds shall he
<br />applied in the order provided for in Section 2.
<br />In the event of a total taldng, destrucrion, or loss in value of the Property, the Miscellaneous Proceeds shall
<br />be applie� to the sums secured by this S�urity Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower.
<br />jn the event of a partial taldng, 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 secur� by this Security Instrument immediately before the partial taking, destruction, or
<br />Ios� in value, unless Bonower aud Lender otherwise agree in writing, the sums secured by this Security
<br />Tnst�umern shall be reduced by the amount of the Miscellan�vs Praceeds mulriplied by the following
<br />fraction: (a) the total amount of the sums secured immExiiately before the partial taking, destrucrion, or Ioss
<br />in vatue divided by (b) the fair market value of the Property immediately before the partial taking,
<br />�huction, or loss in value. Any balance shall be paid to Borrower.
<br />Iic the event of a paztial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Froperty immediately before the partial taking, destructiva, or Ioss in value is less than the amount of the
<br />sums secure.cfi immediately befoae the partial taking, destructiou, or Ioss in value, unless Bonower and
<br />Lender otherwise agr� in writing, the Miscellanwus Froceeds shall be applied to the sums se,cured by this
<br />Security Instrument whether or not the sums aze then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party
<br />(as defined in the next sentence) offers to make an award to s�tt1e a claim for damages, Borrower fails to
<br />respond to Lender withia 30 days after the date the notice is given, Lender is authorized te collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Prop�riy or to the sums secured by this
<br />Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />1Vliscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous
<br />Proc�ds.
<br />Borrower shall be in default if any action or praceeding, 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 S�urity Instrument. Bonower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br />niling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property 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 Properiy are hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that aze not applied to restoration or repair of the Property sha11 be applied in the
<br />order provided for in Section 2.
<br />NEBRASKA-Single Famtly-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMPB(NE) (1105)
<br />Wolters Kluwar Financial Services Paga 10 of 17
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