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20120539�
<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 Bortower any interest or earnings on such
<br />Miscellaneous 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 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 Se,ction 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 s�ured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower.
<br />In the event of a partial taldng, destruction, 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 se,cured by this Security Instrument immediately before the partial taking, destrucrion, or
<br />loss in value, unless Bonower and Len�eer otherwise agree in writing, the sums secured by ttris Security
<br />Instrument shall be reduce� by the a�rount of the Miscellaneous Proce�is multiplie@ by the following
<br />&action: (a) the total amount of the sums s�ured immediately before the partial taking, destruction, or loss
<br />in value divideci by (b} the fair market value of the Property immediateTy before the partial taldng,
<br />destruction, or loss in value. Any balance shall be paid to Barrower.
<br />In the event of a partiai taking, destruction, or loss in value of the Progerty in which the fair market value of
<br />the Progerty immediately before the partial taking, destruction, or loss in value is less than the amount of the
<br />sums secured immediateIy before the partial taldng, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums 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 notice by Lender to Bonower 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 L�nder within 30 days after the date the norice is given, Lender is authorized to collect and apply
<br />the Miscellaneaus Preceeds either to restorazion or repair of the Property or to the sums s�ured by this
<br />Security Instrument, whether or not then due. "Opposing Party" means the third party that owes �rrower
<br />Miscellan�us Proceeds or the pariy against whom Borrower has a right of action in regazd to Miscellan�us
<br />Proceed.s.
<br />Bonower shall be in default if any action or praceeding, whether civil or criminal, is begun that, in T.ender's
<br />judgment, couid 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 />occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgnent, precludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property or rights under this Se,curity Instniment. The proceeds of any awazd or
<br />claim for damages that are amibutable 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
<br />VMP Q
<br />Woiters Kluwer Ffnartcial Services
<br />Form 3028 7 /01
<br />VMPBINE) (1105)
<br />Page 10 of 17
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