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201202472
<br />Mortgage Insurers evaluate their total risk on all sucb insurance in force &om time to tiu�e, and may
<br />enter into agreements with otberparties that share or �dify tUeir risk, or reduce losses. These a�eements are on
<br />terms and conditions that are sahsfactory to the mortga�e insurer and the other party (or pames) to these
<br />agreements. These agreements may requue tbe mortgage msurer to make payments usuig any source of funds
<br />that the mortgage insurer may bave available (which may include funds obtaiaed from Mortga�e Insurance
<br />miums
<br />� As a result of these agree�nts, Lender, any purchaser of the note, another insurer, any reinsurer, any
<br />other enti , or ai�liate of any of the foregoiag, �m.y receive (direcdy or indirectly) amounts that derive from (or
<br />might be c cterized as) a portioa of Borrower'spayments for Mortgage Insurance, in exclian�e for sharing or
<br />modifying the mortgage insurer's risk, or reducing losses. If such agreement provided that an a$iliate of Lender
<br />takes a share of the insurer's risk in exchange for a share of the premiums paid to the iasurer, the arrange�nt is
<br />often termed "captive reinsurance." Further:
<br />(a) Any such agreements wiIl not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of tbe Lo�n. Such agreements will not increase the amount Borrower will
<br />owe for Mortgage Insarance, and they will not entittle Borrower to any refund.
<br />(b) Any such agreements wiIl not a�ect the rights �rrower L�s — if any — with respect to t6e
<br />Mortgage Insarance ander the Homeowners ProtecLion Act of 1998 or any other law. These rights may
<br />include the rigbt to receive certain dtsclosures, to request and obtain cancellation of the Mortgage
<br />Insurance, to have the Mortgage Insurance terminated aatomal3cally, and/or to receive a refand of �ny
<br />Mortgage Insurance premiams that were unearned at the time of such cancellation or termination.
<br />11. Assigument of Miscellaneoas Proceeds; Forfeiture. All Miscellaaeous Proceeds are bereby
<br />assigned to and sha11 be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds sha11 be applied.to restoration or repair of the
<br />Property, if the restorahon or repau is economically feasible and Lender's se,cunty is not lessened. During such
<br />repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has
<br />had an opportunity to utsp�t such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such msp�tion shall be undertaken pro�fly. Lender may pay for the repairs and restoration in a
<br />single disbursement or ia a series ofprogress payments as the work is completed. Unless an agreement is made in
<br />wntuig or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not 6e
<br />required to �ay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration orrepa� is
<br />not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to
<br />the sums s�ured by tlus S�urity Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, desiruction, or loss in value of the Progerty, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by tlus Security Inshvment, whether or not then due, with the excess, if any,
<br />paid to Borrower. '
<br />In the eveat of a parcial takiag destruction, or loss in value of the Property in which the fair �ket value
<br />of the Pro�rty imtnediately before the partial taking, destruction, or loss in value is equal to or greaterthan the
<br />amaunt of the su� s�ured by this Security Inshvment immediately befare the partial taking, destruction, or loss
<br />in value, unless Borrower and Lender otherwise agree in writing, the sums secured by ttris Security Insizument
<br />shall be reduced by the av�unt of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the
<br />fau market value of the Property immediately before t6e partial takmg, destruction, or loss in value. Any balance
<br />sha11 be paid to Barrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in wlrich the fair �rket value
<br />of tbe Property immediately before tbe partial taking, destruction, or loss m value is less than the amount of the
<br />sums secured immediately before the partial taking, desiruction, or loss in value, unless Borrower and Lender
<br />othervvise agree in writing, the Miscellaneous Procads sball be applied to the sums secured by this Security
<br />Instrument whetlier or not the suws are then due.
<br />If the Properiy is abandoned by Bonower, or if, after notice by Lender to Borrower that theOppo sing
<br />Pariy (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fa'ils to
<br />respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and applythe
<br />Miscellaneous Proceeds eitber to restorarion orrepair of the Property or to the sums secured by tlus Security
<br />Instrument, whether or not then due. "Opposing Party" means the tlurd party that owes Borrower 1Vl�scellaneous
<br />Proceeds or the pariy against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Bonower shall be in default if any action or proceeding, whether civil or criminal, is begun that, m
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's mterest m
<br />the Property or rights under tlus S�tuity Instrutr�.�nt 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 ruling
<br />that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest
<br />in the Property or rights under tlus Securit� Instrunoent The proceeds of any awazd or claim for damages that are
<br />amibutable to the impaument ofLender's mterest in the Property aze hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Pr�eeds that are not applied to restoiation or repair of the Properiy shall be appfied in
<br />the order pmvided for in S�rion 2.
<br />12. Barrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
<br />payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to
<br />Borrower or any Successor in Interest of Borrower shall not op te to release the liability of Borrower or any
<br />Successors in Interest of Boaower. Lender shall not be n%quu'ed tocommence pr�eedings against any Successor
<br />in Interest of Borrower or to refuse to extend ti� for payment or otherwise modify amort�hon of the sums
<br />secured by tlus Security Inshument by reason of any demand made b� the original Boirower or any Successors in
<br />Interest of Borrower. Any forbearance by Lender in exercising any n�ht or remedy including, without limitation,
<br />Lender's acceptance of payments from third persons, entities or Succ�ssors in Interest of Borrower or in
<br />amounts less thaa the amount then due, shall aot be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Saccessors �nd Assigns Boand. Borrower covenants
<br />and agre�s that Borrower's obligarions and liability shall be joint and several. However, any Bonower who co-
<br />signs tlus 5ecurity Insh�ument but does not ex�ute the Note (a "co-signet'�: (a) is co-signing this S�urity
<br />Instrument onty to mortgage, grant and convey the co-signer's mterest in tUe Progerty under the ternffi of this
<br />Security Instcument; (b) is not personally obligated to pay the sums secured by t.his Secunty Instrument; and (c)
<br />agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations
<br />with regacd to the terms of this Security Tnstrument or the Note without the co-signer's consent.
<br />NEBRASKA—Singte Family—Faonie Mae/Freddie Mac UNIFORM INS17tUMENT (MERS) Form 302$1101 (page 6 oJ9 pages)
<br />12439.CV (9(11) 11-1657 Creadve Thinldng, Inc.
<br />GOTO(�30a925)
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