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20120459i
<br />If flie Property is damaged, such Miscellaneaus Proceeds sl�all be applied to restoration or repair of the
<br />Property, if the restoration or repair is economically feasible and Lender's securit,y is not lessened. During such
<br />repair and restoration period Lender sl�all l�ave the right to hold such Miscellaneous Proceeds until Lender has
<br />had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfacGon,
<br />provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in
<br />a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is
<br />made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall
<br />not be required to pay Borrower arry interest or earnings on such Miscellaneous Proceeds. If the restoration or
<br />repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall
<br />be applied to the sums secured by tlus Security Instrument, whether or not tl�n due, widi the e�cess, if any,
<br />paid to Borrower. Sucl� Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Properiy, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of die Properiy in wluch the fair market value
<br />of the Property immediately before the partial taking, desriuc6on, or loss in value is equal to or greater than
<br />the amount of the sums secured by this Security Instrument iimnediately before the partial taking, destmction,
<br />or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:
<br />(a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value
<br />divided by (b) the fair market value of the Property immediatel,y before the partial taking, destruction, or loss
<br />in value. t�ny balance sl�all be paid to Borrower.
<br />In the event of a partial taking, destruction or loss in value of the Property in wluch the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is less tl�an the amount of
<br />the swns secured iirunediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Pmceeds shall be applied to the sums secured by this
<br />Security Instnunent whether or not die sums are dien due.
<br />If the Property is abandoned by Borrower, or if; after notice by Lender to Borrower tl�at the Opposing
<br />Party (as de�ned in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to
<br />respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the
<br />Miscellaneous Proceeds either to restoration or repair of the Properiy or to the sums secured by this Security
<br />Instnunent, whether or not dien due. "Opposing Party" means the third pariy that owes Borrower Miscellaneous
<br />Proceeds or the party against whom Borrower I�as 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 Properiy or other material impairment of Lender's interest
<br />in the Property or rights under tlus Security Instnunent. 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
<br />a ruling that, in Lender's judgment, precludes forfeiture of the Properiy or other material impairment of
<br />Lender's interest in the Properiy 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 shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of tl� Propert,y shall be applied in
<br />the order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a W aiver. E�tension of the time for pa,yment
<br />or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower
<br />or an,y Successor in Interest of Borrower shall not operate to release the liability of Born�wer or any Successors
<br />in Interest of Borrower. Lender shall not be required to commence proceedings against airy Successor in Interest
<br />of Borrower or to refuse to eytend time for payment or othenvise modify amortization of the sums secured by
<br />dus Security Instnunent by reason of any demand made by the original Borrower or any Successo�s in Iirterest of
<br />Borrower. Any forbearmice by Lender in esercising any rigl�t or remedy including, without limitarion, Lender's
<br />NEBRASI�A—Single Fa�nily—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 302� 1/Ol
<br />NEBRASKA-MERS OreatDocs�'
<br />ITEM 2698L9 (072811) (Page 9 of 15)
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