|
20120�90�
<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 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 Bonower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not e,conomically 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 Bonower. 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 secured by this S�urity Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower.
<br />In the event of a partial taking, destrucrion, or loss in value of the Property in which the fair market value of
<br />the Property immediately hEfore the partial taking, destruction, or loss in value is equal to or greater than the
<br />amount of the sums s�ured by this Security Instrument immediately before the partial taking, destrucrion, or
<br />loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />InstYVment shall be reduced by the amount of the Miscellaneous Proceeds mulriplied by the following
<br />fraction: (a) ttte totat amount of the sums secured immediately before the partial taking, destruction, or loss
<br />in vatue divided by (b) the fair market value of the Property immediately before the partial taking,
<br />destrucrion, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a pattial taidng, destructioa, or loss in value of the ProperEy in which the fair market value of
<br />the Property imffiediately before the partial taidag, destrucrion, or loss in value is less than the amount of the
<br />sums secured i�ately before the gartial taldng, destruction, or loss in value, unless Borrower and
<br />Lender atherwise agree i� writing, the Miscellan�us Proceeds shall be applied to the smns secured by this
<br />Security Instrument whether or not the sums are then due.
<br />If the Propesty is ab�.oned by Borrower, or if, after notice by Lender to Borrower that the Opposiag Party
<br />(as defined ia the next sentence) offers to make an award to settle a claim for damages, Borrower fails to
<br />respond to Lender witfiin 30 days after the date the norice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property 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 />Miscellaneous Proceeds or the party against whom Bonower has a right of action iII regard to Miscellaneous
<br />Proc�eds.
<br />Borrower shall be in default if any action or prac,eeciing, 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 Sectian 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Properiy or rights under this Security Instnunent. The proceeds of any award or
<br />claim for damages that are amibutable 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 Section 2.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Financlal Services
<br />Farm 3028 1 /01
<br />VMP6(NE) (1105)
<br />Page 10 af 17
<br />�� ' , n
<br />
|