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20120�5��
<br />L4AN #a 00383�7852
<br />selected by Lender. If substantially equivaler�t Mortgage Insurance coverage is not availabie, Bor�ow►er shall
<br />continue to pay to Lender the amou� of the separately designated payments that were due when the
<br />insurance coverage c�sed to be in �ffect Lender will accept, use and retain these paymer�ts as a non-
<br />refundable loss re.serve in lieu of Mortgage Insurance. Such loss reserve shall 6e non-retundable,
<br />natwithstanding the iact that the Loan is uEtimately paid in iull, and Lender shafl not be required to pay
<br />Borrower any interestar eamings on such loss reserve. Lender can no longer require loss r�erve payments
<br />if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an
<br />insurer selected by Lender again becomes avalable, is obtained, and Lender requires separately
<br />designated payments toward the premiums for Mortgage Insu�ance. If Lender required Mortgage
<br />Insurance as a condition of maldng the Loan and Borrower was required to make separatefy designated
<br />payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage insurance in effe�t, or to provide a non-refundable loss r�erve, until Lender's
<br />reyuirementPar Mortgage I nsurancc�ends in accordancewith anywritten agreement beiween Borrowerand
<br />Lender providing for such termination or until termination is required by AppGcable Law. Nothing in this
<br />SecUon 10 affects Borrower's obGgation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity thatpurchases the Note) for certain IQS.ses t� may
<br />incur 'rf Barrower does not repay the Loan as agreed. Borrower is not a parly to the Mortgage Ir�surance.
<br />Mortgage Insurers evaluate theirtotal risk on ail such tnsurance in iorce from timeto dme, and may
<br />enter into agreements with other parties that share or modiiy thelr risk, or reduce losses. These
<br />agreements are on terms and condi�ans that are satisfactory to the mortgage insu rer and the other party
<br />(or parties) to these agreements. These agreements may require the mortgage insurer to make
<br />payments using any source offunds that the mortgage insurer may have available (which may include
<br />funds obtained from Aflortgage Insurance premlums).
<br />As a resuft of these agreements, Lender, any purchaser ofthe note, another insurer, any reinsurer,
<br />anyotherentity, oraffiliateofanyoftheforegoing, mayreceive (direcUyorindirectly) amountsthatderive
<br />from (or might be characterized as) a portivn of Borrower's payments for Mortgage Ir�surance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provided that an afftliate of Lender tak� a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements wlll nat aftect tlte amounts� that Borrower has agreec[ to pay tor
<br />Mortgage In�ur�nce, or any other term� of #�e loan. Such agreemerrta wrlil not increa� the wmount
<br />Borrower will owe for Mortgage In�urance, and they will not errt(tle Borrower to any refimd.
<br />(b) Arry such agreemente will not afFect the rigMs Borrower has - ff any - with resped to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rtght�
<br />may include the rlght to recelve certain dl�closures, to reque�t and obtaln cancellaUon of the
<br />Mortgage In�surance, to have the Mortgage Inaurancaterminated automatically, and/orto recehre
<br />a refund af sny Mortgage lnsurance premiums thatwere unearned atthe Ume of such cancellation
<br />or termination.
<br />11. Asslgnment of Ml�:ellaneous Proceeda; Forteiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shail be applied to restoration or repair
<br />of the Property, tPthe restora�on or repair is economicallyfeasible and Lender's security is not lessened.
<br />Quring such repair and restoration period, Lender shall have the right to hold such Miscellaneous
<br />Proceeds until Lender has had an opporbunity to inspect such Property to ensure the work has been
<br />completed to Lender's satisfac�on, provided thatsuch inspection shall be underta{cen promptly. Lender
<br />may pay for the repairs and restoration in a single disbursement or in a series af progress payments
<br />as the work is completed. Unless an agreement is made in writing or Applicable Law requires tnterest
<br />to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest
<br />or eamings on such Miscellaneous Proceeds. If the restaratian or repair is not economicallyfeasible or
<br />Lender's securityvaould be Iessen�J, the Miscellaneous Proceeds shall be applled to the sums secured
<br />by this Securliy InairumeM, whether or not then due, writf� the excess, if any, paid to Borrowrer. Such
<br />Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, tlie M iscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, vvith the
<br />excess, if any, paid to Barrower.
<br />In the event of a partial taking, destructlon, or loss in value af tha Properiy in which the fair market
<br />value of the Property immediately before the partial taking, destructlon, or loss in value is equal to or
<br />greater than the amount ofthe sums secured bythis Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Secu�ity Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the iollowing fraction: (a) the total amount of the sums secured immediately before the
<br />partialtalcing, destruciion, orloss in value divided by (b) thefair marketvalue ofthe Propertyimmediately
<br />before the partial taking, destruction, or loss in value. Any balance shall be pafd to Borrower.
<br />In the event of a partial taking, de,abvc�on, ar Ioss in value of the Property in which the fair m ket
<br />value of the Property immediately before tiie partial taking, destruction, or loss in value is-
<br />initiale:
<br />NEBRASKA-Single Famlly-Fannie AAae/Freddfe �llac UNIFORM INSTRUMENT Form 30281/Ot
<br />Online Documer�te, Ina Page 7 of 11 IVEED�D 1108
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