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20120420�
<br />with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the
<br />sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
<br />amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />unmediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Bonower.
<br />[n the event of a partial taking, destruction, or loss in value of the Property in which the fair mazket value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the
<br />sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Pariy (as
<br />defined in the nelct sentence) offers to make an awazd to settle a claim for damages, Bonower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds
<br />either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower
<br />has a right of action in regazd to Miscellaneous 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 Property or
<br />rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as
<br />provided in Secrion 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment,
<br />precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this
<br />Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's
<br />interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Bonower or any
<br />Successor in Interest of Bonower shall not operate to release Yhe liability of Borrower or any Successors in Interest of
<br />Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to
<br />refuse to e}ctend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by
<br />reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbeara.nce by
<br />Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third
<br />persons, entities or Successors in Interest of Bonower or in amounts less than the amount then due, shall not be a waiver
<br />of or preclude the exercise of any right or remedy.
<br />13. Joint and Several_Liability; Casigners; Successors and Assigns Bound. Borrower covenants and agrees that
<br />Bonower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Insttument only to mortgage,
<br />grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally
<br />obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can
<br />agree to eactend, modify, forbear or make any accommodations with regazd to the terms of this Security Instrument or the
<br />Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits
<br />NEBRASKA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 8 of 12
<br />i�, i„�. Borrower(s)
<br />FOrnt
<br />28 1/01
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