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20120217�
<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 />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 economically 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 S�tion 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 se,cured by this Se,curity 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 Properly 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 secured by this Security Insttvment immediately before the partial taking, destruction, or
<br />loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instrument shall be reduced by the amount of the Miscellan�us Proceeds multiplied by the following
<br />fraction: (a) the totai 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 />destrucrion, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a paztial taking, destruction, or loss in value of the Properly in which the fair market value of
<br />the Properi� immediately Uefore the gaztiai talgng, destruction, or loss in vatue is less than the amount of the
<br />sums secure.� �.iately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwi� agree in writing, the Miscellaneous Procceds shall be apglied to the sums se,cured by this
<br />Security Instrument whether or not the sums are then due.
<br />If the Property is abandoIIed by Borrower, or if, after notice by I.ender to Borrower that the Opposing Party
<br />(as define� in tlte IIext sentence) offers to make an award to settle a claim for damages, Borrower fails to
<br />respond to I.ender within 30 days after the date the notice is given, I.ender is authorized to coll�t and apply
<br />the Miscellan�us Proceeds either to restoration or repair of the Property or to the sums s�ured by this
<br />�urity rnctr„n,ens, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneous Pracee�is or the party against whom Borrower has a right of action in regazd to Miscellaneous
<br />Proceeds.
<br />Borrower shall he in default if any action or proc,eeding, 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 Section 19, by causing the action or proceeding to be dismissed with a
<br />ruIing 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 proc.eeds of any award or
<br />claim for damages that are attributable to the impairment of Lender's interest in the Property aze hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Praceeds 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/Freddle Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wokers Kluwer Finandal Services
<br />Form 3028 1/01
<br />VMP6INE) (11051
<br />Page 10 of 17
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