|
201209312
<br /> satisfaction, provided that such inspection sh ill be undertakc-n promptly. Lender may pay for the repairs
<br /> and restorati4n in a single dasbursement or ir.a SerieS of prog.ress payments aG tlie work is completed
<br /> Uniess an a�eement is m�de in writing or Applical�le Law requizes interest to be paid on such
<br /> Miscellaneous Proceeds, Lender shall nof be required to pay Borrowet any interest or eanlings on such
<br /> Vliscelly�eous Proceeds. If the restorarion or repair is not economically feasible ar Lender's security would
<br /> be lessened, the Miscellaneous Proceeds shall be applied to the sums sec�ued by tiu� Securiry Instrument,
<br /> �nrhether or not then due, witli the excess, if any, paid to Borrower. Such Miscellaneous Yroceeds shall be
<br /> a�lied in the order provided for in Section 2.
<br /> [n the event of a Yotal taking, destaiction, or loss in value o£the Property, the Miscellaneous Proceeds shaL
<br /> be applied to the swns secured by this Security Instnunent; whefher or nat then due, w�th the excess, if any,
<br /> paid to Borrower.
<br /> In the event of a pazrial taking, destruction, or loss in valne o£Ehe Properly i.n which the fair mazket value of
<br /> the Property i*nmediately befare the partial taking, deshucrion, or loss in value is equal to or�eater than the �
<br /> amount of the sums secured by this Security Instrument nnmediately before the partial tal�ng, destruction, or
<br /> loss in value, unless Borrower and Lender otherwise agree in writing, the suins secured by tlus Security
<br /> Instrumeiit sl�all bc reduc;ed by the amoLmt of thc Miscellaneous Proceeds multiplied by the following
<br /> fracrion: (a)the toCal auiount of the sum, secured iuunediately before the partial taking, destruction, or loss
<br /> in value divided by(b)the fair market value of the Property i�ediately before rhe p�tial taldng,
<br /> destr-uction, or loss in value. Auy Ualance shall Ue paid to Eorrower.
<br /> In the event of a putial taking, destruction, or loss in value of the Property in wluch the fair markeT value of
<br /> the Property immediately before the partial taki�.ng, destru.ction, or loss in value is Iess than the amount oP the
<br /> sutns Secured in�ediately before the partial taldng, destruction, or loss in value, unless Borrower and
<br /> Lender otherwise agree in writing, the Miscellaneous Proceeds sl�z.11 be applied to the swns secured by flus
<br /> Sec�ity Inshvment whethes or nof the sums aze then due. ,
<br /> If the ProperCy is abandoned by Borrower, or if, after potice by Lender to Borrower fhat the Opposing Party
<br /> (as defined in the next sentence) offers to make an award to settle a claim for damages, Bonower fails to
<br /> respond to Lende�within 30 days after tl�e date the notice is given; L,ender is authoriaed to collect and apply
<br /> the Miscellaneous Proceeds either to restoralion or sepair of the Properi�y or to ihe siuns seeured by this
<br /> Seciuity Instr�nnent, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br /> 1bSiscellaneous Proceeds or the party against whom Borrq�ver has a right of acrion in regard to iVlisccllancous
<br /> Proceeds.
<br /> Borrower shall be in default if any action or proceeding, �vkether civil or crnninal, is begun that, iu Lender's
<br /> judginent; could resulf in forfeiture of the Property or oiher matierial impainnent of Lender's interest in ihe
<br /> Properiy or rights under this Security dnstrument. 13orro���er can cure such a default and, if acceleration ha,
<br /> occurred, reinstate as provided in Section 19, by causing the action or proceeding to be disuussed with a
<br /> ruling that, in I.ender's jud�nent, prccludes forfeiture of the Property or other material inipainnent of
<br /> I,ender s interest in the Properiy or rights under this Security Instnunent. The proceeds of any award or
<br /> claim foT daw2ges that are attributahle to the impaument of Lendei s interest in flie Property aze hereby
<br /> assi�ed and sha11 be pa,id to Lendei.
<br /> All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br /> order provided far in Secrion 2.
<br /> 24002658
<br /> NBRASKA-Single Fznity-Fannie M zelReddie A4 ac U W FORM INSTRON ENT Porm 3028 ll0 t
<br /> VMP�' VM P6(NB(11�5)
<br /> Wo!txs Kluwer Financisl Services Page 10 of 1]
<br />
|