201209563 - Laserfiche WebLink

Browse

201209563 (a) Any such agreements will not affect the amounts that Borrower has agreed to pay For Mortgage Insurance,or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,and they will not entitle Borrower to any refuud. (b) Any such agreements will not affect the rights Borrower has-if any-with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law.These rights may include the right to receive certain disclosures,to request and obtain cancellation of the Mortgage Insurance,to have the Mor[gage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignmentof MiscellaneousProceeds;Forfeiture.All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of t6e Property, if the restoration or repair is economically feasible and Lender's secwity is not lessened. Duriug such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbutsement or in a series of progess payments as the work is completed.Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If t6e restoration or repair is not ewnomically feasible or Lender's securiry would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,with the excess, if any,paid to Borrower. Suc6 Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking destruction, or loss in value of the Property,the Miscellaneous Proceeds shall be applied W the sums secured by this Security InsWment,whether or not then due, with the excess, if any, paid to Bonower. In the event of a partial takiag, destruction,or loss in value of the Property in whic6 the fair matket value of the Property immediately before the partial taking,destruction, or bss in value is equal to or geater thau the amount of the sums secured by this Security Instrument immediately Uefore the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise agee in writing,the sums secured by this Securiry Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount ofthe sums secured immediately before the partial taking, destruction,or loss in value divided by(b)the fair matket value of the Property immediately before the partial taking, destruction,or loss in value.Any balance shall be paid to Borrower. In the event of a partial taking,destntction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, desWction,or loss in value is less t6an the amount of the sums secured immediately before the partial taking,destruction,or loss iu value,unless Borrower and Lender otherwise agree in writing,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Iostrument whether or not the sums are then due. If the Properiy is abandoned by Borrower,or if,after notice by Lender to Bonower that the Opposing Party (as defined in the next sentence)offers to make an award to settle a claim for damages,Bonower fails to respond to Lender within 30 days after t6e date the notice is given,Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this NEBRASKASingle Family�Fannie Mae/FredEle Mac UNIFORM INSTRUMENT WITH MERS Fortn 30281/07 VMP OD VMP6A(NE)(1105).OD Wd1ers Kiuwer Financlel Services Page 10 0(17 iiiiiii�iiiiiiiiiii3iiiiiiiiiiiiiiimiiiiiiiiiiii �� -