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201205535
<br />In the event of a total ta,ldng, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if aay, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater thau the amount of the
<br />sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
<br />asnount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the svms secured
<br />immediately before the partial ta.king, destruction, or loss in value divided by (b) the fair market value of the Properiy
<br />immediately before the partial taking, destruction, or loss in va.lue. Any balance shall be paid to Boaower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destntction, or loss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Proceeds shall be applied to the sums secwed by this Security Instrument whether or not the
<br />sums aze then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an awazd to settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the date the norice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds
<br />either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the pariy against whom Borrower
<br />has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower 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 Property or
<br />rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as
<br />provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment,
<br />precludes forFeiture of the Property or other material impairment of Lender's interest in the Property or rights under tlus
<br />Security Instrument. The proceeds of any award or claim for daznages that are attributable to the impairment of Lender's
<br />interest in the Property aze hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property sha11 be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Bonower or any Successors in Interest of
<br />Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Barrower or to
<br />refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Inshvment by
<br />reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by
<br />Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third
<br />persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, sha11 not be a waiver
<br />of or preclude the exercise of aay right or remedy.
<br />13. Joint and Several Liability; Casigners; Successors and Assigns Bound. Bonower covenants and agrees that
<br />Borrower's obligarions and liability sha11 be joint and several. However, any Borrower who casigns this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is casigning this Security Instrument only to mortgage,
<br />grant and convey the co-signer's interest in the Properiy under the terms of this Security Instrument; (b) is not personally
<br />obligated to pay the sums secured by tkris Security Instrument; and (c) agrees that Lender and any other Borrower can
<br />agree to extend, modify, forbeaz or make any accommodations with regard to the terms of this Security Inshument or the
<br />Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits
<br />under this Security Instrument. Borrower sha11 not be released from Borrower's obligations and liability under this
<br />NEBRASKA Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
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<br />ios, i�c. Borrower s Ini�als �� ��
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