|
�Oi�0�044
<br />(a) Any snch agreements wW not affect the amonnts that Borrower has a�rced to pay for Mortgage
<br />Insarance, or any other terms of the Loan. 5nch agreements wW not increase the amonnt
<br />Borrower wIll owe for Mortgage Insnrance, and they will not entitle Borrower to any refnnd,
<br />(b) Any sach agreements will not affed the rights Borrower has - if any - wlth resped to the
<br />Mortgage Insorance nnder the Homeowners Protection Act of 1998 or any other law. Thae r3ghts
<br />may inclade the iight to receive certain disclosnres, to r�nat and obtain cancellatton of the
<br />Mortgage �nsnrance, to have the Mortgage Tnsnrance terminated antomatically, and/or to receive
<br />a refnnd of any Mortgage Insnrance preminms that were nnearned st the time of anch
<br />cancellatlon or terminatlon.
<br />11. Asslgnment of Mtsc�Oar�ous Prot�edg Forfe(tw�e. All Miscallaneous Proceeds are hereby assigned to
<br />and shall be paid to I.ender.
<br />If tha Property is da�maged, such Miscallaneous Proceeds shall l� appliai to restoration or repair of the
<br />Property, if the restoration or repair is economically feasible and Lender's se�urity is not lessened. During
<br />such repair and restoration peri�, Lender shall hava the right to hold auch Miscellaneoua Proceeds until
<br />Lender l�as had an oppornmity to inspect such Property to ens�ue the work has been completed to Lender's
<br />satisfaction, provided that such inspection shall ba undertaken promptly. Lender �Y 1�Y for the repaira snd
<br />resWration in a single disbursement or in a saries of progress payments as the work is completed. Unle� an
<br />a�nt is made in writin� or Applicable Law requires intecest to be paid on such Miscellaneaus Proc�ds,
<br />I.ender shau not be requirea to pay Bonower any interesr or earnings on sucn Misceuaaeous Proceads. If the
<br />restoration or repair is not economically feasible or Lender's security would ba lessened, the Miscellaneaus
<br />Pr�rzeda aha11 be applied to the aums sacured by this Sacurity Inslrument, whether or not then due, with tha
<br />excess, if aay, Paid to Boaower. Swch Miscellan�us Proc�eds shall be applied in tha order providai for in
<br />Seckiion 2.
<br />�n the event of a total taking, destruction, or loss in value of the Property, the Miscellaneuus Proc�ds sl�all
<br />be applied to the sums secured by this Sacurity Inslrument, whether or not then due, with the axcass, if sny,
<br />paid to Borrower.
<br />In the avent of a partial taldng, deslruction, or loss in value of tha Properiy in wluch tha fair market value of
<br />the Property im�iately befora tha partial taking, deslruction, or loss in valua is equal to or greater than tha
<br />a�unt of tha smns secured by tlus Security Ins�nt im�diately bafore the partial talQng, de.�truction, or
<br />loss in value, unless Borrower and Lander otherwise agree in writing, the aums secured by this Sac�rity
<br />Inslrument shall be reduced by the a�unt of the Miscellaneous Proaceds multiplied by tha following
<br />fi�ction: (a) the total amowrt of the swns saciued 'mannediataly befora tha paztial taking, deslruction, or loss
<br />in valua divided bY (b) the fair market valua of tha Property imnnediataly before the partial taking,
<br />dastcvction, or loss in value. Any balanca sha11 ba paid to Bonower.
<br />In the avant of a partial taking, destruction, a�r loss in value of the Properiy in wluch tha fair mazkke� value of
<br />the Properiy im�diately before the partial taking, dastruction, or loss in valua is less t1�an the a�unt of the
<br />swms aecured imx�diately bafore the partial taking, destruction, ar loss in value, unless Borrower and
<br />Lender othervvise agree in writing, the Miscellaneous Proceeda aha11 be applied to the s�nns seaued by this
<br />Sec�uity Ins�t whether or not the sums are then due.
<br />If tha Property is abandoned by Borrower, or i� after notica by Le�ndar to Bonower tvat the Opposing Party
<br />(as dafinad in the next sentence) offers to make an award to settle a claim for dmnages, Boaower fails to
<br />respond to I.ender withiu 30 days after the dats the notice is given, Lender is authorized to collect and apply
<br />the Miscellaaeous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br />NEBRASKAStigle FamYy-Fannie Mae/Freddb Mao UNIFORM INSTRUMENT WITH MERS � � a , roi
<br />VMP6A(NE►11106)
<br />Wp�e p� � g� Pege 10 of 17
<br />I�
<br />� `� ^ '
<br />�
<br />
|