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20120624�
<br />In the event of a total taking, 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 any, paid to
<br />Bonower.
<br />In the event of a partial taking, destruction, or ioss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destrucrion, or loss in value is equal to or greater than the amount
<br />of the sums secured by this Security Instrument immediately before the partial taking, destrucrioq or loss in value,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds mulriplied by the following fracrion: (a) the total amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
<br />Property immediately before the paztial taking, destruction, or loss in value. Any balance shall be paid to Bonower,
<br />In the event of a pazrial 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 less than the amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value, unless Bonower and Lender otherwise
<br />agree in wriring, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br />or not the sutns aze then due.
<br />If the Property is abandoned by Bonower, 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, Bonower fails to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" means the third pazty that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Bonower has a right of action in regard to Miscellaneous 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 Property
<br />or rights under this Security Instrument. Bonower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
<br />judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or
<br />rights under t�is Security Instrument. The proceeds of any awazd or claim for damages that are ariributable to the
<br />impairment of Lender's interest in the Property aze hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that aze not applied to restoration or repair of the Property shall be applied in the
<br />order 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 Bonower or any
<br />Successor in Interest of Bonower shall not operate to release the liability of Bonower or any Successors in Interest
<br />of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Bonower
<br />or to refizse to extend time for payment or otherwise modify amortization of the sums secured by this Security
<br />Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any
<br />forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of
<br />payments from third persons, enriries or Successors in Interest of Borrower or in amounts less than the amount then
<br />due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Casigners; Successors and Assigns Bound. Bonower covenants and agrees
<br />that Bonower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Secwity Instrument only to mortgage,
<br />grant and convey the co-signer's interest in the Property under the terms of this Secwity Instrument; (b) is not
<br />personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other
<br />Bonower can agree to extend, modify, forbeaz or make any accommodations with regard to the terms of this Security
<br />Instrument or the Note without the co-signer' s consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Bonower who assumes Bonower's
<br />obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Bonower' s rights
<br />and benefits under this Security Instrument. Bonower shall not be released from Bonower's obligations and liability
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS p
<br />Form 3028 1/01 Page 9 of 15 www.docmagic.com
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