|
201208675
<br /> If the Property is damaged, such Miscellaneous Proceeds shaIl be applied to restoration or repair of the Property,
<br /> if the restoration or repair is economically feasible and Lender's sectuity is not lessenect. I3uring such repair and
<br /> restoration period, Lender shall have the right to hold such 1VTzscellaneous Pzoceeds until.Lender has had an
<br /> opportunity to inspect such Properiy to easure the work has beeu completed to Lendar's sadsfaction, provided
<br /> that such inspection shall be zmdertaken prompfly. Lender may pay for the repairs and restoration in a singie
<br /> disbisssemeat or in a series of�ogress payments as the work is cornpleted. TTnless an agreement is made in
<br /> wriiing or Applicable Law requires iaterest to be paid on such Nfiscellaneous Proceeds, Lender sball not be
<br /> required to pay Borrower any interest or earnings on such Ivliscellaneaus Proceeds. If the restoration or repair is
<br /> not economically feasible or Lender's security wouid be lessened, the Miscellaneous Proceeds shaii be applied
<br /> to the sums sec�sed by this Security Iastrument, �3�effier or noY then due, with the excess, if any, paid to
<br /> Borrower.Such Miscellaneous Proceeds stiall be applied in#he order provided for in Secfion 2.
<br /> Tn tl�e event of a totat taking, destruction, or loss 3xz value of the Properry, the Miscellaneous Psoceeds sha21 be
<br /> applied to ffie sums sectsed lss•this Security Insutunent, whether or not then due,v4zth the excess, if any,paid to
<br /> Bozrower.
<br /> In the evemt of a parEial taking, destruction, or loss in value of the Propertp in wYuch the fair market value of the
<br /> Property inunediately before the partial taldng, destruction, or loss in value is equai to or greater tl�au the amount
<br /> of the s�s sec�ed by this Security Insirument immediately before the paraal taking, destruction, or Ioss in
<br /> value,unless Soaower aad Lender otherwise agree in wriiing, the s�s secured by this Security Tn. ,ment shall
<br /> be reduced by the amouni of the Miscellaneous Proceeds multiglied by the followiag fraction: (a) the total
<br /> amount of the simms secured immediaYely before the partial taking, destruction, or loss in value divided by(h)the
<br /> fair markeY vaIue of the Properiy immediately before the partial taking, destniction, or toss in vaiue_ Any balance
<br /> sba11 be paifl to Borrower.
<br /> In the event of a parriat taking, destruction, or loss in value of the Property in which the fair market value of the
<br /> Properiy immediately before the partial taking, destruction, or loss in value is Iess than the ainount of the sums
<br /> secured imn�ediately before t6e partsal taking, destruction, or loss in vatue, un.tess Borrower and Lender
<br /> oihenvise agree in writing, the Ivfiscellaneous k'roceeds shall be applie@ to the sums secured by this Security
<br /> Instniment whethez or not the sums are then due.
<br /> If the Properiy is abandoned by Borrower,or if,after notice by I.ender to Borrower that the Opposir►� Party(as
<br /> defined in the next sentence) offers to malce an award to settie a claimfor damages, Boaower faits to respond to
<br /> Lender withiu 30 days after the date ffie notice is given, Lender is auYhorized to coilect and apply the
<br /> Misceilaneous Proceeds either to restoraUon or regair of the Property or to ffie sums secured by this Security
<br /> Instrument, whether or not fhen due. "Qpposing Pazty" means the third party that owes Borrowar I�sceIlaneous
<br /> Proceeds ox the pazty against whom Borrower has a rigtrt of aetion inregard to IvFscellaneous Proceeds.
<br /> Borrower shall be in defauit if any actiou or proceeding, whether civil oz ciiminal,is begun that, in Lender's
<br /> juda.,,�nen� coulfl result in forFeiture of the Properiy ar other material impaiivnent of Leader's interest in the
<br /> Property or rights imder this Security Instrumeat Bonower oan cure such a defautt and, if acceleration has
<br /> occurred, reinstafe as pzovided in Section 19,by causing the aciion or pmceeding to be dismissed urith a ruling
<br /> that, in Lender's judgment,precludes forfeiture of the Property or other material impairment of Lender's interest in
<br /> the Property or rights under this Secisity Tn�,ment The pzoceeds of any award or claim for damages that are
<br /> attributable to the impairment of Lender's interest in tbe Property are hereby assigned and shall be paid to
<br /> Lender.
<br /> All M'iscellaneous Proceeds ihat are not applied to restoration or repais of Yhe Property shall be agplied in the
<br /> order provided for in Section 2.
<br /> 12. Borrawer Not Refeased; Forbearancs By Lender Not a Waiver. Extension of the time far payment or
<br /> modification of amortization of the seims secured by this Secutity Instrument granted by Lander to Borrower or
<br /> any Successor in Interest of Borrower shaIi not operate to reIease the lzability of Borrower or auy Successors in
<br /> Interest of Borrower_Lender st�all not be required to commence proceedings against any Successor in Iirterest of
<br /> Borrower or to refuse ta e�end time for paymeat or otherwise modify amortizatioa of the sums secured by this
<br /> SecuriEy Insuument by reasoa of any demand znade by the originai Bonower or xny Successors in 7nterest of
<br /> Borrower.
<br /> NEBRASKA-Smgie Fartrly-Fannie MaUFrcddie Mae UNIFORM WSiRUMINT F��8 i�
<br /> VMP� VMPf(7dE1 ('1705).00
<br /> Woilas IOuwer Financial Sevices Page 9at�5
<br /> I I�II I�I�I�[�I I�I�I�I Q�II�IIIII l�l�II I�II II�I�I[��
<br />
|