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�� 120 5 2'71
<br />Mortgage Insurers evaluate their total risk on all such insurance in force fram time to tima, and may
<br />enter into agreements with othar partias that share or modify thair risk, or reduce losses. These agreements are on
<br />terms and conditions that are satasfactory to the mortga�e insurer and the other parly (or parties) to these
<br />agreements. These agreemeats may reqwre the mortgage msurer to make payments usmg any so�rce of funds
<br />that the martgage insurer may have available (which may iaclude funds obtained from Mortgage Insurance
<br />pzemiums).
<br />As a result of these agreements, Lender, any purchaser of the note, another insurer, any reinsurer, any
<br />o�er entity, or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or
<br />might be characterized as} a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or
<br />modifying the xnort�aga insvrer's risk, arreducing losses. If such agreement provi�ded that an affiliate of Lender
<br />takas a share of the insurer's risk in exchange for a share of the preuuums paad to the insurer, the arrangement is
<br />often termed "captive reinsurance" Fzather:
<br />(a) Any snch agreements wiIl not atTect the amoant� that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Suc6 agreements will not increase the amount Borrower will
<br />owe for Mortgage Iosnrance, aad they will not entitle Borrower to any re45�nd.
<br />(b) Any sucL agreements will not affect the rights Bonower has — if any — with respect to the
<br />Mortgage Insurance uader the Homeowners Protection Act of 1998 or any other law. These rlghts may
<br />include the right to receive certain d�sclosures, to request and obtam cancellation of the Mortgage
<br />Insurance, to have the Mortgage Insurance terminated autom�tically, and/or to receive a refand of any
<br />Mortgage Insnrance premiums that were unearne� at tLe time of such caneellatian or termination.
<br />11. Assignmeat of Miscellaneous Proceeds; ForFeiture. All Miscellaneflus Pr�eeds are hereby
<br />assigned to and sha11 be paid to Lender.
<br />If the Proparty is damaged, such Miscellanaous Proceeds shall be applied to restoration or repair of the
<br />Property, if the restoration or repair is economically feasibie and Lender's se�urity is not lessened. During such
<br />repur and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has
<br />had anoppommity to ins�eet such Property to ensiue the work has bean complated ta Lender's sarisfaction,
<br />provided that such inspection shall be undertaken promptly. Lenrler may pay for the repairs and restoration in a
<br />smgle disbursement ar vn a series of progress payme�rts as tE►e work is c�mpleted. Unless an agreament is made in
<br />wnting or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not ba
<br />required to pay Borrower any interest or earnings on such Miscellaneous Praceeds. If the restoration or repsir is
<br />not ecoaomically feasible or Lender's securiiy would ba lassaned, tha Miscellaneous Proceeds shaIl be applied to
<br />the sums secured by this Secunty Instrument, whether or nat then due, with the excess, if any, paid to Borrower.
<br />Such M�scellaneous Proceeds s1Za11 be applied in the order provided for in Section 2.
<br />In the event of a total taking, destrucdon, or loss in value of tb�e 1'roperty, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Secunty Instrument, whether ornot then due, with the excess, if any,
<br />paid to Borrower.
<br />In the eve�t of apa�tial taking, destruction, or loss in value ofthe Progerty inwhichthe fairmarket value
<br />of the Property vnmediately before the partial taking, destruction, or loss in value is equal to or greater than the
<br />amount of the siuns secured by this Security Instr�ment immediately before the paztial taking, destruction, or loss
<br />m value, unless Boaower and Lender otherwise agree in writing, tha sums secured by this Security Instrument
<br />shall be reduced by the amount of the Miscellan�us Proceeds multiplied by the following fraetion: (a) the total
<br />amount of the s�s seciued immediately before the partial taIdng, destruction, or loss in value divided by (b) the
<br />fair market value of the Property immediately before the partial taking, d�uction, ar loss in value. Any balance
<br />shall be paid to Borrower.
<br />ba the event of a partial taking, desttuction, or loss in value ofthe Properiy in which the faa mazket value
<br />of the Properiy immediately befare the parhal taking, destiuctioq or loss in value �s less than the amount of the
<br />sums secured unmediately before the partial taking, de�struction, or loss in value, unless Borrower and Lender
<br />otherwise agree in wriring, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br />instrument whether ar not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing
<br />Party (as defined in the n�t sentence) offers ta make an award to settle a claim for damages, Borrower fa�ls to
<br />respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply die
<br />Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security
<br />Instrument, whather or not then dne. "Opposing Party" means the third pariy that owes Bosower Miscellaneous
<br />Procesds or the party whom Boaower has a right of action in regazd to Miscellaneous Proceeds.
<br />Borrower sh�in default if any action or proceeding, whether civ� or crimmal, is begun thax, in
<br />Lender's judgment, cfluld result in for£eiture of the Properiy or o�er material impaament of Lender's interest in
<br />the Property or rights under this Security Instrument. Boaower can cvre such a default and, if acceleration has
<br />occurred, remsta�e as provided in Section I9, by causing the action or proceeding to be dismissed with a ruling
<br />that, in Lender's judgment, precludes forfeihue of the Pr�perty or other material impairment of Lender's interest
<br />in the Property or nghts under this Security Ins�nt. The proceeds of any awatd or claim for �es that �e
<br />attributable to the impairment ofLender's interest in the Property are hereby assigned and shall be pai w Lender.
<br />AllMscellaneous Proceeds thatazenot appliedto restoration orrepairoftheProperty shall be appfiedin
<br />the order provided for m Section 2.
<br />12. Borrower Not Releas�i; Forbearance By Lender Not a Waiver. Extension of the time for
<br />payment or madification of amortization of the sums secured by this Sec�ity Instrument granted by Lender to
<br />Borrower or any Succes.sor in Interest of Borrower shall not operate to release the liability of Borrower or any
<br />Successors in Interest of Borrower. Lender shall not be requirec� to commence proceedings agaiuust any Successor
<br />in Interest of Borrower or to refuse to e�end time for payment or otherwise modify amortization of the sums
<br />secured by tlus Security Instrument by reason of any demand made b�+the original Boirower or �y Successors in
<br />Interest of Borrower. Any forbearance by Lender in exercisin� any nght or remedy includi.ng, without limitation,
<br />Lender's acceptance of pa.ym�nts from third persons, entihes or Successors ui Interest of Borrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signera; Successors and Assigns Bound. Borrower covenants
<br />and agreas that Borrower's obligations and liability shall ba joint and sevezal. However, an�+ Borrower who ca
<br />signs this Security Inst�ument but does not execute the Note (a "co-signer"): (a) is co-signing this Security
<br />Instrument only to mort�age, grant and convey the co-signer's urterest in the Properly under the tenns of this
<br />Security Instrument; (b} �s not personally obligated to pay the sums secured by this Security jnstrument; and (c)
<br />agees that Lender and any other Borrower can agee to extencl, modify, forbear or make any accommodations
<br />with regard to the tarms of this Sectrrity Instrument or tha Note withottt the co-signer's consent.
<br />NEBRASI{A—Single Femily—Fannie Mae/Freddie Mac UNIFORM IlVSTRTJMEI�i'f (MERS) Form 30281/01 {page 6 of 9 pages)
<br />12439,CV (9l11} 4300102695 Creative Thinking, Inc.
<br />GOTO(003bed28)
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