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20120434�
<br />sarisfacrion, 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 Borrower 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 Secrion 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall
<br />be applied to the sums se�ured by ttus Security Instivment, whether or not then due, with the excess, if any,
<br />paid to Bonower.
<br />In the event of a partial taking, destruction, or loss in value of the Properiy in which the fair market value of
<br />the Progerty 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 Instrument immediately before the partial taking, destruction, or
<br />loss in vatue, unless Borrower and Lender otherwise agr� in writing, the sums secured by this Security
<br />Instrument shall be recluced by the amount of the MiscelIan�us Proceeds mulriplied by the following
<br />fractioa: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss
<br />in vatue dividec� by (G) the fair market value of the Property immediately before the partial taking,
<br />destruction, or Ioss in value. Any balance shall be paid to Borrower.
<br />In the eve�rt of a partial taking, destruction, or loss in value af the Properly ia which the fair market value of
<br />the Property immediately before the part'tal taking, destraction, or loss in vatue is less than the amount of the
<br />sums secured immediately before the partial taking, destrucrian, or loss ia vaSue, unless Borrower and
<br />I.ender othervvise agree in writing, the 1V�iscellaneous Preceeds shall be �plied to the sums secured by this
<br />S�urity Instrument whether or not the sums are then due.
<br />If the Frogerty is abandoned by Borrower, or if, after norice by Lender to Borrower that the Opposing Party
<br />(as defined in the next �ntence) offers to make an award to settle a claim for damages, Bonower fails to
<br />responci to I�nder within 30 days after the date the notice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restorarion or repair of the Property or to the su.ms se,cured by this
<br />5ecurity Instruznent, whether or not then due. "Opposing Party" means the tl�ird party that owes �onower
<br />Miscellaneovs Proceeds or the party against whom Borrower has a right of �tion in regard ta Miscellaneous
<br />Proceeds.
<br />Borrower 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 S�tion 19, by causing the acrion 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
<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 Miscellan�us Proceeds that are not applied to restorarion or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />NEBRASKA-Single Femily-Fennie Mae/Freddfe Mac UNIFORM INSTRUMENT Form 3028 1lO7
<br />VMP � VMP6(NE) (1105)
<br />Wokers Kluwer Financial Services Page 10 of 17
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