|
�01208���
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,
<br />or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage
<br />Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has — if any — with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect
<br />such Property to ensure the work has been completed to Lender's satisfacrion, provided that such inspection shall be
<br />undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress
<br />payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be
<br />paid on such Miscellaneous Proceeds, Lender sha11 not be required to pay Bonower any interest or eaznnigs on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened,
<br />the Miscellaneous Proceeds sha11 be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Bonower. Such Miscellaneous Proceeds sha11 be applied in the order provided for in
<br />Section 2.
<br />In the event of a tota.l taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds sha11 be
<br />applied to the sums secured by this Security Inshvment, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destrucdon, or loss in value is equal to or greater than the amount of the
<br />sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otUerwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
<br />amount of the Miscellaneous Proceeds muldplied by the following fraction: (a) the total amount of the sums secured
<br />immediately before the partial taking, desbruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destrucrion, or loss in value of the Properiy in which the fair mazket value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the aznount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the
<br />sums are then due.
<br />If the Properly is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an awazd to settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply the, Miscellaneous Proceeds
<br />either to restoration or repair of the Property or to the sums secured by this Security Instrument; whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower
<br />has a right of action in rega.rd to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other ma.terial impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as
<br />provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lettder's judgment,
<br />precludes forfeiture of the Property or other material impaiimment of Lender's interest in the Property or rights under this
<br />Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's
<br />interest in the Property are hereby assigned and shall be paid to Lender.
<br />NEBRASKA -Single Family-Fannte MaelFreddle Mac UNIFORM INSTRUMENT with MERSForm 3028 7/01
<br />Page 8 of 13 �
<br />ias, inc. Borrower(s) In�lals
<br />
|