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201202366
<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 />Miscellaneous Proc.eeds. 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 Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a total taking, desmiction, or loss in value of the Property, the Miscellan�us Procceds 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 Bonower.
<br />In the event of a partial taldng, destruction, or loss in value of the Property in wluch 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 Instivment 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 />Instrurnent sha3l be reduced by the amount of the Miscellaneous Proceeds mulriplied by the following
<br />fraction: (a) the total amount of the sums s�ured immediately before the partial taking, destruction, or loss
<br />in vatue divided by (6) the fair market value of the Property immediately before the partial taking,
<br />destruction, or loss in value. Any balance shall be paid to Bonower.
<br />In the event of a partial taldng, destruction, or loss in value of the Property in which the fair market value of
<br />the Property imm�iiately before the partial taking, destruction, or loss in value is less than the amouni of the
<br />sums se,cured immediately before the partiat taking, destruction, or loss in value, unless Borrower and
<br />Lender other�vis� agre.e in writing, the Mi�Ilaneous Prcfceeds shall be applied to the sums s�ured by this
<br />Security Instrumeitt whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, os if, after norice by Lender to Borrower that the Qpposing Party
<br />(as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to
<br />respond to Lender within 30 days after the date the notice 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 />S�urity Instr�ment, whether or not then dve. "Opposing Party" means the third party that owes Borrower
<br />MisceIlan�us Pra�eeds or the party against whom Borrower has a right of action in regard to Miscellan�us
<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 accelerarion has
<br />occurred, reinstate as provided in Section 19, by causing the action or praceeding to be dismissed with a
<br />ruling that, in Lender's judgment, precludes forfeiture of the Property or other materiat impairment of
<br />Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or
<br />claim for damages that are 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 are not applied to restoration or repair of the Property sha11 be applied in the
<br />order provided for in Secrion 2.
<br />NEBRASKA-Single Family-Fannie Mee/Fceddie Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Woltere Kluwer Flnancial Services
<br />Form 3028 7/07
<br />VMP6�NE) (1105)
<br />Page 10 of 17
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