|
����Q����
<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 />Miscellan�us Proceeds, Lender shall not be required to pay Bonower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not eronomically feasible or Lender's security would
<br />be lessened, the Miscellan�us Proce�ds 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 Miscellaneous 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 Proceeds shall
<br />be applied to the sums s�ured 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 taking, destruction, or loss in value is equal to or greater than the
<br />amount of the sums se�urefl by this Security Instrument immediately before the partial taking, destruction, or
<br />loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this 5�urity
<br />Instrument shall be reducefl by the amount of the Miscellan�us Proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss
<br />in value divided by (b) the fair market value of the Property immediately before the partial taking,
<br />destruction, or loss in value. Any balance shall be 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 taking, destruction, or loss in value is less than the amount of the
<br />sums securefl immediately before the partial taking, destrucrion, or loss in value, unless Bonower and
<br />Lender otherwise agr� in writing, the Miscellan�us Proceeds shall be applied to the sums secured by this
<br />Security Instrument whether or not the sums aze then due.
<br />If the Property is abandoned by Bonower, or if, after notice by Lender to Bonower that the Opposing Pazty
<br />(as defined in the next sentence) offers to make an awazd to settle a claim for damages, �nower fails to
<br />respond to Lender within 30 days after the date the notice is given, Lender is authorized to coll�t and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums securefl by this
<br />S�urity Instrument, whether or not then due. "Opposing Party" means the third pariy that owes Bonower
<br />Miscellan�us Procceds or the party against whom Borrower has a right of action in regazd to Miscellaneous
<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. Bonower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Se�tion 19, by causing the action or proceerling to be dismissed with a
<br />,�,� ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of
<br />L.ender's interest in the Property or rights under this Security Instrument. The proceeds of any award or
<br />claim for damages that aze 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 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-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT form 3028 1/O7
<br />VMP � VMP6{NE) (1106)
<br />Woltera Kluwer Flnancial Services Page 10 of 17
<br />
|