|
201207846
<br /> (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br /> Insuranca, ar any other tsrms of the Loan. Such agr�ments will not mcrease the amount
<br /> Borrower will owa for Mortgage Insurance, and they will not entitle Borrowea to any refund.
<br /> (b) Any such agreemeats will not affect tha righta Borrower has - if any - with respect to the
<br /> Mortgage Instuance under the Homeowners Prote,ction Act of 1998 or any other law. Theae rights
<br /> may incPude tha right to receive certain disclosures, to request and obtain cancellation of the
<br /> Mostgage Insurance, to have the Mortgaga Insurance termmated automatically, and/or to receive
<br /> a refund of any Mortgage Insurance premiums that were unearned at the tima of such
<br /> cancellation or termination.
<br /> 11. Aasignment of Miscellaneous Proc�ds; Forfeiture. All Miscellaneous Proceeds aze hereby assigned to
<br /> and shall be paid to Lender.
<br /> If the Property is damaged, such Miscellaneous Proceeds shall be applled ro restoration or repair of the
<br /> Property, iP the restoraflon or repair is economically feaslble and Lender's security is not lessened. During
<br /> such repair and restoration period, Lender shall have the right [o hold such Miscellaneous Proceeds unUl
<br /> Lender has had an opportunity to inspect such Property to ensure [he work has been completed to Lender's
<br /> satisfaction, provided that such inspeclion shall be undertaken promptly. Lender may pay For the repairs and
<br /> restorarion in a single disbursement or in a series of progress payments as Ihe work is completed. Unless an
<br /> agreement is made In wNting or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br /> Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br /> restoraflon or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br /> Proceeds shall be applied to the sums secured by Ihis Security Instrument, whether or not ihen due, with the
<br /> excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br /> Section 2.
<br /> In the event of a [otal taking, destruction, or loss in value of Ihe Properly, the Miscellaneous Proceeds shall
<br /> be applied to the sums secured by this Securily Instrument, whether or not then due, with the excess, if any,
<br /> paid to Borrower.
<br /> In the event of a par[ial [aldng, destrucHon, or loss in value of the Pmperty in which the fair market value of
<br /> the Property immediately before the partial taking, destruclion, or loss in valae is equal to or greater than the
<br /> amount of the sums secured by this Security Instrument immediately before the partlal taking, destruction, or
<br /> loss in valne, unless Borrower and Leuder othenvise agree in writing, the sums secured by this Security
<br /> Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br /> fracflon: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss
<br /> in value divided by (b) the fair market value of [he Properly immediately before the partial taking,
<br /> desiruction, or loss in valae. My balance shall be paid to Borrower.
<br /> In the event of a pattial taking, des[ruclion, or loss in value of[he Property in which tlte fair market value of
<br /> the Property immed3ately before the part3al taking, destrucflon, or loss in value is less than the amount of the
<br /> sums secured immediately before ihe partlal taking, destruction, or ]oss in value, unless Borrower and
<br /> Lender otherwlse agree in writing, the Miscellaneous Proceeds shall 6e applied to the sums secured 6y this
<br /> Security Iastrument whether or not the sums are then due.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower tha[ the Opposing Parly
<br /> (as defined in the neict sentence) offers to make an award to setde a claim For damages, Borrower fails to
<br /> respond to Leuder wlthin 30 days after the date the noflce is glven, Lender is authorized to collect and apply
<br /> the MIscellaneous Proceeds either to resroradon or repair of the Properly or to fhe sums secured by this
<br /> 001123198]69 CitlbaN�3.2.87.12 V7
<br /> NEBRASKA-Single Fem➢y�FanNe Mae/FreOtlle Mac UNIFORM INSTRUMENT WITH MERS Fmm 3028 1/Ol
<br /> VMP� VWP6A(NE)(1905).00
<br /> Wolters Kluwx F'mancial5ervlces Page 10 of 1]
<br />
|