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201205�34
<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 Borrower any interest or earnings on such
<br />Miscellan�us 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 this 5ecurity Insmiment,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shail 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 Proceeds 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 af a paztial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial talang, destruction, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instr�ment immediately before the partial taldng, destruction, or
<br />loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instivment shall be reduced by the amount of ttie 1LTiscellaueous Froceeds multiplied by the follovving
<br />fraction: (a) the total amount of the sums secured imtnediately before the partial taking, destruction, ar Ioss
<br />in vatue divided by (b) the fair market value of the Property immediately hefore the partial taiang,
<br />destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, d�truction, or loss in value of the Praperty in which the fair market value of
<br />the Property immediately before the partial taldng, destrucrion, or loss in value is less tha� the amount of the
<br />sums secured immediately before the pattial tal�i.ng, destruction, or loss in vaiue, unless B�rrower and
<br />Lender otherwise agree in writing, the MiscelIan�us Proceeds shall be applied to the su�s se,cured by this
<br />Security Inscrument whether or uot the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after norice by Lender to Borrower that the Opposing Party
<br />(as defined in the next sentence) offers to make an award to settle a claim 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 Miscellan�us Proceeds 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 pazty that owes Borrower
<br />Miscellan�us Proceeds or the party against whom Borrower 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 />judgmeirt, 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 proc.eeding to Ue dismissed with a
<br />niling 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. Tfie 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 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 Form 3028 1/01
<br />VMP � VMP6(NE) (1105)
<br />Wolters Kluwer Financial Services Page 10 of 17
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