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ti0�207005
<br />satisfaction, provided that such inspection shall be undertaken promptly. Lender ma.y 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 L,aw requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender sha11 not be required to pay Bonower any interest or earnings on such
<br />Miscellan�us 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 sha11 be
<br />applied in the order provided for in Secrion 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 Borrower.
<br />In the event of a paztial taking, destrucrion, or loss 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
<br />amount of the sums secured by this Security Instnunent immediately before the partial taldng, destruction, or
<br />Ioss iu value, ualess Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instru,ment sh�3. be re8uced by the amount of the Miscellan�us Proceeds multiplied by the following
<br />fractivn: (a) the total amount of the sums s�ured immediateIy before the partiat taking, destrncrion, or loss
<br />in value divicted by (b1 the fair market vatue of the Praperty immediatety before the partial taking,
<br />destruction, or Ioss in vatue. A�r�y balance shall be paid to Borrower.
<br />In the event of a p�rtiai taking, c�estnicticra, or loss in value of tfie Froperty in which the fair market value of
<br />tlte Properiy i�iately �fore t� pa�atia� taking, destructi.on, or loss in vatue is less than the amaunt of the
<br />s�ns secured imm�iateiy befQre t�te p� takisg, de.sttuction, or Ioss in value, unI�s Borrower and
<br />E.encF.e� athervvise agree ia vvFitiag, t�e 1kliscella�ous Pra�eeds sha1l be a�plied to the sums s�ured by this
<br />Secvrity �r�t �rhet�rer �rx �E the sums are then due.
<br />If the Property is abaadoneci by �oarower, or if, after nvtice by Lender to Borrower that the Opposing Party
<br />(as defined in the next se�tence) offers to make an award to settle a claim for damag�, Borrovver fails to
<br />respond to L.ender within 30 days after tfie date the notice is given, Lender is authorized to colle�t and apply
<br />the Misceltaneovs Proceeds either to restoration or repair of the Properiy or to the sums secured by this
<br />Security Instrument, whether or not th� due. "�PPosing Fazty" means the third party that owes Borrower
<br />1kIisceltaneous Pra�eeds or the gatty aga�nst whom Borrower has a right of action in regard to Miscellan�us
<br />Pr�s.
<br />�orrower shall be in defauit 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 vr rights under this Security rn.ctr�rnP„t. Borrower can cure such a default and, if acceleration has
<br />occurred, reiastate as provided in 5ection 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, 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 amibutable to the impairment of I,ender's interest in the Prop�rty are hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Proc.eeds that aze not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in S�tion 2.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP6INEI (1105)
<br />Woltars Kluwer Financial Servic� Page 10 of 17
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