|
201205253
<br />(�) Any snch agreements will not affect the amoants that Borrower has agreed to pay for Mortgage
<br />Insnrance, or any other terms of the Loan. Snch agreemenlx will not increase the amonnt
<br />Borrower will owe for Mortgage Insnrance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insnrance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the tight to receive certain disclosures, to reqnest and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insnrance terminated antomatically, and/or to receive
<br />a refund of any Mortgage Insurance premiums that were unearned at the time of such
<br />caacellation or terminahon.
<br />11. Assignment of Miscelleneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
<br />and shail be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br />Property, if the restoration ar repair is economically feasible and Lender' s security is not lesseued. During
<br />such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br />Lendet has had an opportunity to inspect such Property to ensure the work has been completed to Lender' s
<br />satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br />restoration in a single disbursement ar in a series of progress payments as the work is completed. Unless an
<br />agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br />Lender shall not be required to pay Borrower atty interest or eamings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellatteous
<br />Froceeds shall be applied to the sums secwed by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower. Such Miscellan�us Proce,�ds sha11 be applied in the order provided for in
<br />Sectiott 2.
<br />In the event of a total taking, destruction, ar Ioss in value of the Property, the Miscellaneous Proce�ds 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 Bortower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fa.ir market value of
<br />the Property 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 immadiately befora the partial taking, destruction, or
<br />loss in value, unless Bonower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instrument sha11 be reduced by the aanount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss
<br />in value divided by (b) the fair market value of the Property immediately before the partial taking,
<br />destruction, or loss in value. Any balance sha11 be paid to Borrower.
<br />In.the event of a partial talcing, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the paztial taking, destruction, or loss in value is less than the amount of the
<br />sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds sha11 be applied to the sums secured by t}us
<br />Security Instrument whether or not the sums aze then due.
<br />Tf the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the Opposing Pariy
<br />(as defined in the next sentence) offers to make an award to settle a claim for damages, Bonower fails to
<br />respond to Lender within 30 da.ys after the date the notice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by tlus
<br />2200271846
<br />NEBRASKA-S(ngle Famf(y-Fannte Mae/Freddfe Mec UNtFORM INSTRUMENT WITH MERS
<br />VMP Q
<br />Wolters Kluwer Ftnendal Servtces
<br />D VBANE
<br />Form 3038 1 /01
<br />VMPBAINE) 11105)
<br />Pege 10 of 77
<br />
|