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20i20533�
<br />sarisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs
<br />and restorarion in a single disbursement or in a series of progress payments as the work is completed.
<br />Unless an agre,ement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shail not be required to pay Bonower any interest or earnings on such
<br />1V�iscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellan�us Proceeds shatl be applied to the sums s�ured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Bonower. Such Miscellaneous Proceeds shall 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 Bonower.
<br />In the event of a partial taking, destrucrion, or loss in value of the Property in which the fair 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 Securit}r Instrument immediately before the partiai taking, destrucrion, or
<br />loss in value, unIess Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instnunent shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destrucrion, or loss
<br />in value divided by (b) the fair market value of the Property immediately hefore the partial taking,
<br />destrucrion, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taldng, destrucrion, or loss in value is less than the amount of the
<br />sums secured immediately hefore the partial taldng, destrucrion, or loss in value, unless Bonower and
<br />Lender otherwise agrce in writing, the Miscellaneous Proceeds shall be applied to the su�►s secured by this
<br />Security Instrument whether or not 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 awazd 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
<br />the Miscellaneous Proceeds either to restoration or repair of the Properiy or to the sums secured by this
<br />Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Bonower
<br />Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellan�us
<br />Proceeds.
<br />Bonower 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. Bonower can cure such a default and, if acceleration has
<br />accurred, reinstate as provided in Se,ction 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, pr�ludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property or rights under tYus Security Instrument. The proceeds of any awazd or
<br />claim for damages that are attributable to the impairment of Lender's interest in the Property aze 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 Searion 2.
<br />NEBRASKA-Single Femtly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Flnancfal Services
<br />Form 3028 1 /01
<br />VMP6INE) �11051
<br />Page 10 of 17
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