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20120251Q
<br />1111062416
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater
<br />than the amount of the sums secured by this Security Instrument immediately before the partial taking,
<br />destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this
<br />Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the
<br />following fraction: (a) the total amount of the sums secured immediately before the partial taking,
<br />destruction, or loss in value divided by (b) the fair market value of the Property immediately before the
<br />partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by
<br />Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence)
<br />offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then
<br />due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against
<br />whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest
<br />in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration
<br />has occurred, reinstate as provided in Section 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 Property or rights under this Security Instrument. The proceeds of any award or claim
<br />for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned
<br />and shal) be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be
<br />applied in the order provided for in Section 2.
<br />12. Borrower 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
<br />to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or
<br />any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any
<br />Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br />any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in
<br />Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the
<br />exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants
<br />and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who
<br />co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security
<br />Instnzment only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this
<br />Security Instrument; (b) is not personally obligated to pay the sums secwed by this Security Instrument; and
<br />(c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />� 338.5 Page 9 of 14 Form 3028 1/Ol
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