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' 201207624
<br /> DOC ID #= �Q�2437606700$012
<br /> were due when the insurance coverage ceased to be in effect. Lender H�ill accept, use and retain these
<br /> payments as a non-refundable loss reserve in lieu of Mortgage lnsurance. Such loss reserve sLall be nun-
<br /> reFundable, notwithstanding the fact that the Loan is ullimafely paid in fiill, a�id i.ender shall nnt be
<br /> required tn pay Bnrmwer any�interest or earnings on such loss reserve.Lender can no longer require loss
<br /> reserve payments if Mortgage Insurance coverage(in the amnunt and for the period that Lcndcr rcyuires)
<br /> providcd by an insurcr selecled Ly i.ender again ber.rnnes a��aitahle, is oblained, and Lender reguires
<br /> separately designa[ed payments to�vard the premiums for Mortgage Insurance.If Lender required Mortgage
<br /> Insurance as a condition of making the Loan and Borrower was rcquircd to makc scp�ralely desig�ialed
<br /> payments loward lhe premtums For Mortgage Insurance, Borr�a�er shall pay ihe premiums required ro
<br /> maintain NSorlgage Insurance in effect, ne lo prn�•ide a nnn-refundable loss reserve, until Lender's
<br /> requirement for ivforigage Insurance ends in accordance with any writter�agreement beiween Borrower and
<br /> Lender providing for such termination or until termination is required by Applicablc La�v.Nothing in this
<br /> 5ection 10 affocts Burruwer's ul�li�atinn In��ay interesr at the rate provided'ui the NoLe.
<br /> Nlortgage Insurance reirnhurses Lender (or any entity that purch;ises ll�e Nole} for cec�tain losses it may
<br /> incur if Borrower does not repay the Loan as agreed.Borrower is not a party to che A4ortgage Insurance.
<br /> Mortgage insurers evaluate their total risk on all such insurance in farce from time to time,and may enrer
<br /> into agrccmcnts with athcr parlies that share nr mn�fify their risk,nr reduce losses.Tl�ese agreements are on
<br /> terms and conditions that are satisfactory to the mortgage insurer and the other party(or parties) tn these
<br /> agreements. Thesc agrcements may require the mortgage jnsurer to make paymcnts using any soar�:e nf
<br /> funds that the mortgage Insurer may have availahle (whic:f�n�ay include Cw�ds obtaii�ed from Mortgage
<br /> lnsurxnce prerniuc�is).
<br /> As a result of Ihese a�reements,Lender,any�purchascr of the Note,anolher insurer,any reinsurer,any other
<br /> entity,or any afFiliate of any of the foregoing,may receive[directly ar indirecdyy amounts that derive from
<br /> (ur mighl l�e characterized as) a portion of Borrow�er's payments for Mort�age Insurance, in exchange for
<br /> sharing or modifying the mortgage insurer's risk, or reducing]osses. If such agrccmcnl provides Ihal an
<br /> aftiliate af Lcndcr takes a share of lhe insurer's risk in exchange for a share of the p�emiums paid to the
<br /> insurer,the arrangement is often termed"captive reinsurance."Further:
<br /> (a) Any such agreements will nat affect the amaants that Borrorver has agreed to pay fiir Mortgage
<br /> [nsurance, ar any ather terms of the Loan. Sech sgreements will not increase the amnunt
<br /> Borrower will owe for Niortgagc]nsurance,and they will nnt entitle Barmwer to any refund.
<br /> (h} Any such agreeanents will not affect the rights Borrower has - if any - with respect to the
<br /> Mortgage ]nsuraace under the Homeowners Nrotectioo Act of 1998 or an,y other law. These
<br /> rights may include the right to recei�e certain diaclosures, to request and obtain cancellation of
<br /> tlie Mortgage Insurance,to have the Mortgage Insurance terminated automatically,andlor to
<br /> receive a refund af aoy MoMgage Insuranee premiums that were unearned at lhe timc of such
<br /> cancellatian or termination.
<br /> I1. Assignment of Miscellaneous Froceeds; Farfeiture.All Miscellaneous Procecds am hereby assigned tn
<br /> and shall 6e pald to Lender.
<br /> If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the.
<br /> Property,if the resloration or repair is economically teasi6le and Lender's security is not lessened.D�ring
<br /> such repair and restora[ion period, Lender shall have the right to holcl such Miscelianenus Pmcceds until
<br /> Lender has had an nppnrtunity tn inspect such Property to ensnre the work has 6een completed co Leiider's
<br /> satisfaction,provided that such inspection shall be undertaken promptly. Lender may�pay for thc rcpairs
<br /> and restoration in a single disbursement or in a scrics oF prugress payments as the r�=ork is completed.
<br /> Urdess ait agreemen€ is inade in v��riting or Applicable Law requires interest to be paid on such
<br /> h4iscellaneaus Pmceeds, Lender shall not be required to pay Borrower any interest or carr�ings un such
<br /> h4iscellaneous Proceeds,If the resturalion or re}Mir is not economically feasible vr Lender's security would
<br /> be lessened, the Miscellaneous Proceecls sha11 be applied tn the sums secured by this 5ecurity Ins#rument,
<br /> wheiher or not then due,with the excess, if any,paid to Borrower.Such Miscellaneous Yroceeds shall he
<br /> applied in the order provided for in Section 2.
<br /> In the event of a total taking,destruction,or loss in value of the Proper[y,the Ivliscellaneous Procceds shall
<br /> be applied to the sums sccured by this 5ec,urit_y luslru�uenl,wlfetlier or not then due,wit}i the excess,iF any,
<br /> paid to Sorrower.
<br /> In the event of a partial taking,des#ruction,or loss in value of the Proper(y in which the Cair markel value of
<br /> [he Pro�erty immedia�ely hefnre the partia]taking,deshuction,or loss in value is equa!to or greater than
<br /> the amount of the sums secured by this Security Instrument immediately hefore the partial taking,
<br /> destruction,ar loss in value,unless Barrower and Lendcr ottaer�vise agree in writing,the sums secured by
<br /> lhis Sewrily Instrumeut shall be reduced by the amount of the Miscellaneous Proceeds multiplied t�y ihe
<br /> Following fraction: (a) the tota] amount of the sums secured immediately before the partial taking,
<br /> destruction,or lass ln value divided b� (b) the fair market value of lhe Property immediately before the
<br /> partial taking,deslruction,or lass ir�value.Any balance sha3l be paid ta F3nrmwPr.
<br /> NEBRASKA--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 1101
<br /> Deed of Trust-NE
<br /> 2006--NE(12111) Page 7 oF 12
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