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20120335�
<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 />Miscellaneous 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 tlus 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 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 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, destrucrion, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or
<br />loss in value, unless Bflrrower and Lender otherwise agree ia writing, the sums secured by this S�urity
<br />�nstrument shall be reducecY by the amount of the Miscellan�us Proceeds muiriplied by the following
<br />fracrion: (a) the total amount of the sums secured immediateiy before the partial taking, destiuction, or loss
<br />in value ctivided by (b) the fair market value of the Property irmnediately before the partial taldng,
<br />destruction, or loss in value. Any balance shall l� paid to Borrower.
<br />In the event of a partiat ta�cing, destruction, or Io�s in value of the Propert}+ in which the fair market value of
<br />tt�e Ftdgert�r immediately before ihe partial taking, destruetior�, or Ioss in vatue is less t�i�u ttie amount of the
<br />su�ns �curec� iminediately before the partial taking, destructiQn, or loss in value, unless Borrower and
<br />I.ender otherwise agree it� writiag, the Miscellan�us Procceds shall be applied to the sums secured by this
<br />Secutily Instrument whether or not the sinns are then due.
<br />If the Property is abandoned by �orrower, or if, after norice by Lender to Borrower that the Opposing Party
<br />(as defned in the next sentence) offers to make an award to settte a ctaim for damages, Borrower faiIs to
<br />respond to Lender within 30 days after the date the norice is given, Lender is authorized to collect and apply
<br />the MisceUan�us Procee�s either to restoration or repair of the Property or to the sums secured by this
<br />Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneous Froceeds or the pazty against v�+hom Borrovver has a right of acrion in regard. to Miscellaneous
<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. Borrower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Secrion 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 Properiy or rights under this S�urity Instrument. The proceeds of any award or
<br />claim for damages that are amibutable to the impairment of Lender's interest in the Property are hereby
<br />assigned and sha11 be paid to Lender.
<br />All Miscellaneous Proceeds that are 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/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Financial Services
<br />Form 3028 1/01
<br />VMP6(NE! (1105)
<br />Page 10 of 17
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