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20�201158
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any afliliate of any of the foregoing, may receive (directly or indirectly} amounts that
<br />derive from (or might be characterize,ci as} a portion of Bonower's payments for Martgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amonnts that Borrower bas agreed to pay for
<br />Mortgage Insnrance, or any other terms of the Lo�n. Snch agreements will not increase the amonnt
<br />Borrower will owe for Mortgage Insurance, and the� will aot entitle Barrower to any refnnd.
<br />(b) Any snch agrcements will not affect the nghts Borrower has - if any - with respect to the
<br />Mortgage Insnrance nnder the Hom�wners Protection Act of 1998 or any other law. The.ce rights
<br />may inclnde the right to re�eive certain d�lsclosures, to r�uest and obtain cancellaHon of the
<br />Mortgage Insnrance, to have the Mortgage Insnrance terminated antomatically, and/or to receive a
<br />refnnd of any Mortgage Insarance premiums that were unearned at the time of such cancellal3on or
<br />terminal3on.
<br />11. Assignment of Miscellan�ns Proceeds; Forfeitare. All Miscellan�us Procceds are hereby
<br />assign� to and shall be paid to Lender.
<br />If the Properly is damaged, such Miscellan�us Proceeds shall be appli� to restorarion ar repair of
<br />the Properiy, if the restoration or repair is �onomic�lly f�sible and Lender's s�urity is not lessened
<br />During such repair and restoration period, Lender sha11 have the right to hold such Miscellan�us Procee�s
<br />until Lender has had an opporhmity to insp�t such Properiy to ensure the work haS bcen completed to
<br />Lender's satisfaction, providefl that such inspection sha11 be undertaken promptly. L�nder may pay far the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />complet�. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Procceds, Lender sha11 not be ret�uireri to pay Borrower any interest or earnings on such
<br />Miscellan�us Procceds. If the restoration or repair is not a;onomically feasible or Lender's security would
<br />be lessened, the Miscellan�us Proceeds shall be applieri to the sums s�ed by this �curity Instrument,
<br />whether or not then due, with the excess, if any, paid to Bonower. Such Miscellan�us Procee�s shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a total talcing, destrucrion, or loss in value of the Property, the Miscellan�us
<br />Proceeds shall be applied to the sums s�urerl by this Security Inslrument, whether or not then due, with
<br />the exce,ss, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Froperty in which the fair market
<br />value of the Property immediately before the partial taidng, destruction, or loss in value is equal to or
<br />greater than the amount of the sums s�ured by this S�urity Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agrce in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellan�us Proceeds
<br />multipli� by the following fraction: (a) the total amount of the sums s�ure� immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be�aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in wluch the fair market
<br />value of the Properiy imm�iately before the pazrial taking, destruction, or loss in value is less than the
<br />amount of the sums s�ured immediately befare the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellan�us Procceds shall be appliefl to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandone� by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the ne�ct sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to callect and apply the Miscellan�us Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Se�urity Instrument, whether or not then due. "Opposing Party" means the third pariy
<br />that owes Borrower Miscellaneous Proceer�s or the pariy against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceefls.
<br />Borrower shall be in default if any action or procee�ing, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this S�urity Instrument. Borrawer c�n cure such a default and, if
<br />acceleration has oc�urred, reinstate as provided in Section 19, by c�using the action or procce�ing to be
<br />2300070575 n v6�
<br />NEBRASKA - Single Family - Fannle Ma�Freddle AAac UNIFORAA INSTRUMENT WITH M
<br />�-8A(NE)1oe�o1 Pege 9 of 76 i�es�s: �,�"�?�+ � Farm 3028 1/01
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