|
201206044
<br />satisfaction, provided that Such inspection shall be undertaken promptly, Leader 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 Borrower ally interest or earnings oil such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Leader's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the surns secured by 1his Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower, Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In (he event of a total taking, destruction, or IOSS ill Value Of the Property, the MiSCellaneOUS Proceeds shall
<br />be applied to the suras secured by this Security Instrument, whether or not then due, ,vith the excess, if any,
<br />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 taking, destruction, or loss in value is equal to or grealoi than the
<br />amount of the sunts secured by this Security Instrument immediately before the partial taking, destruction, or
<br />loss in value, unless Borrower and Lender otherwise agree ill writing, the Stan,% scoured by this Security
<br />instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total aniount of the sums secured immediately before the partial taking, destruction, or loss
<br />in value divided by (b) the fair market value of tile Property immediately before the partial taking,
<br />destruction, or loss ill value. Any balance shall be paid to Borrower.
<br />Ili the event of a partial taking, desti uction, or loss ill value of the Property in which the fair market value of
<br />the Property immediately before tile partial taking, destruction, or loss in value is less than the arnount of the
<br />SlAns Secured immediately before the partial taking, destruction, or loss ill value, untess Borrower and
<br />Lender otherwise agree in writing, the N4iscellaneous Proceeds shall be applied to the surns scoured by this
<br />Security Instrument whether or no[ the duals are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party
<br />(,as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower tails 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 Property or to the sums secured by this
<br />Security Instrument, whother or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous
<br />Proceeds.
<br />Borrower shall be in default if ally action or proceeding, whether civil or criminal, is begun thau, in kender's
<br />judgment, could result in forfeiture of (tic Property or other material irapinment of Lender's interest in [he
<br />Property or rights under this Security Instrument. Borrower can curesuch a default and, if acceleration has
<br />occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with I
<br />ruling that, in Lender's jUdglalent, precludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property or rights under this Security Instrument, The proceeds of any award or
<br />claim for damages that are attributable to the impairment of Leader's interest in the Property are hereby
<br />assigned and shall tic paid to Lender,
<br />All Miscellaneous Proocc(ts that are not applied to restoration or repair of the Property Shall be applied in the
<br />order provided for in Section 2.
<br />24 00 15 1 ]
<br />NEBRASKA-Sini, I e red Ily-Fvir n I a M m Fred die M ac UN I FORM INSTRUMENT Form 3028 110
<br />VNI P 6 VMH(NE�(i 1105�
<br />W olte, s Kid w ar Fun cNI S.ry 1� P�,,, 0 of I
<br />
|