|
2012Q2�E�
<br />satisfaction, provided that such inspection 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 />Miscellan�us Praceeds. If the restorarion or repair is not economically feasible or Lender's se.curity 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 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 secured 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 tkian the
<br />amount of the sums secure�i 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 se�ured by this Security
<br />Instrament shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the totat amount of the s�ms s�ured immediately before the paztial taldng, 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 gaztial taking, destruction, or Ioss in value of the Properly in which the fair mazket value of
<br />the Property im�ed.iately �fore the paLtial talgng, destruction, or loss in value is less thaa the amount of the
<br />sums s� irrYmeciiately before the gartial taking, destruction, or Ioss in value, uuless Borrower and
<br />Lencter ot�cerwise agree in writing, the 1Vliscellaueous Proceeds sh�l be applied to the sums secured by this
<br />Security Ins�ment whether or not the sums are then due.
<br />If the Froperty is abaadoned by Borrower, OF If after norice by Lender to Borrower that the Opposing Parry
<br />(as defined in Eke ne�t sentence) offers to make an award to settle a claim for damages, Borrower fails to
<br />respond to Lender withisi 30 days after the date the notice is given, Lender is authorized to colle,ct and agply
<br />the Miscellaueous Pr�s either to restoration or repair of the Property or to the sums secured by this
<br />Security Instr��t, whethea or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellan�us Proce�:s ar the pariy against whom Borrower has a right of acrion in regard to MiscelIaneous
<br />Proceeds.
<br />Borrower 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. Borrower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Se,ction 19, by causing the acrion or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, pre,cludes forfeiture of the Pro�rty or other material impairment of
<br />Lender's interest in the Progeriy or rights under this Security Instrument. The proceeds of any awazd or
<br />claim for damages that ate attributable to the impairment of Lender's interest in the Property aze 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 5ection 2.
<br />NEBRASKA-Single Family-Fannte Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP81NE) 11105)
<br />Wolters Kluwer Financial Services Page 10 of 17
<br />
|