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� 201209761
<br /> LOAN ID # 1701572961
<br /> Mortgage insurers evaluate their total risk on all such insurance in force from time to time,and may enter
<br /> into agreements with other parties that share or modify their risk,or reduce losses. These agreements are on
<br /> terms and conditions that are satisfactory to the mortgage insurer and the other party(ar partics)to these
<br /> agreements. These agreements may require the mortgage insurer to make paymenfs using any source of funds
<br /> that the mortgage insurer may have available(which may include funds obtained from Mortgage Insurance
<br /> premiums).
<br /> As a result of these agreements,Lender,any purchaser of the Note,another insurer,any reinsurer,any
<br /> other entity,or any affiliate of any of the foregoiog,may receive(directly or indirectly)amounts that derive
<br /> from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance,in exchange for
<br /> sharing or modifying the mongage insurer's risk,or reducing losses. If such agreement provides that an affiliate
<br /> of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer,the
<br /> arrangement is ofteo termed"captive reinsurance.° Further:
<br /> (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br /> Insurance,or any other terms of the Loan. Such agreements will not increase the amount Borrower will
<br /> owe for Mortgage 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
<br /> right to receive certain disclosures,to request and obtain cancellation of the Mortgage Insnrauce,to have
<br /> the Mortgage Insurance terminated automatically,and/or to receive a refund of any Mortgage Insurance
<br /> premiums that were unearned at the time of such cancellation or termination.
<br /> 11. Assignment of Miscellaneous Proeeeds;Forfeiture. All Miscellaneous Proceeds are hereby assigned
<br /> to and shall be paid to I.ender.
<br /> If the Property is damaged,such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br /> Property,if the restoration or repair is economically feasible and Lender's security is not lessened. During such
<br /> repair and restoration period,Lender shall have the right to hold such Miscellaneous Proceeds until Lender has
<br /> had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br /> provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a
<br /> single disbursement ar in a series of progress payments as the work is completed. Unless an agreement is made
<br /> in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,Lender shall not be
<br /> required to pay Borrower any interest ar earnings on such Miscellaneous Proceeds. If the restoration or repair is
<br /> not economically feasible or Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to
<br /> the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Bonower.
<br /> Such Miscellaneous Proceeds shall be applied in the order provided far in Section 2.
<br /> In the event of a total taking,destruction,or loss in value of the Property,the Miscellaneous Proceeds shall
<br /> be applied to the sums secured by tlus Security Instrument,whether or not then due,with the excess,if any,paid
<br /> to Borrower.
<br /> In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of
<br /> the Property immediately before the partial taking,destruction,or loss in value is equal to or greater than the
<br /> amount of the sums secured by Chis Securiey Instrument immediately before the partial taking,destcuction,or
<br /> loss in value,unless Borrower and Lender otherwise agree in writing,the sums secured by this Security
<br /> Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:
<br /> (a)the total amount of the sums secured immediately before the par6al taking,destruction,or loss in value
<br /> divided by(b)the fair market value oY the Property immediately beYore the partial taking,destruction,or loss in
<br /> value. Any balance shall be paid to Borrower.
<br /> In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of
<br /> the Property immediately before the partia]taking,destruction,or loss in value is less than the amount of the
<br /> sums secured immediately before the partial taking,destruction,or loss in value,unless Borrower and i,ender
<br /> otherwise agree in writing,the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br /> Instrument whether or not the sums are then due.
<br /> If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the Opposing Party
<br /> (as defined in the next sentence)offers to make an award to settle a claim for damages,Borrower fails to
<br /> respond to Lender within 30 days after the date the notice is given,Lender is authorized to collect and apply tlie
<br /> Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security
<br /> Instrument,whether or not then due. "Opposing Party"means the third puty that owes Borrower Miscellaneous
<br /> Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br /> Borrower shall be in default if any action or proceeding,whether civil or criminal,is begun that,in
<br /> Lender's judgment,could result in forfeiture of the Property or other material impairment of Lender's interest in
<br /> the Property or rights under this Security Instrument. Borrower can cure such a default and,if acceleration has
<br /> occurred,reinstate as provided in Section 19,by causing the action or proceeding to be dismissed witli a ruling
<br /> that,in I.ender's judgment,precludes forf'eiture of the Property or other material impairment of Lender's interest
<br /> in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that
<br /> are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to
<br /> Lender.
<br /> All Miscellaneous Proceeds that are not applied to restoration or repair of the 1'roperty shall be applied in
<br /> the arder provided for in Section 2.
<br /> 12. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for payment
<br /> or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower
<br /> or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors
<br /> in Interest of Borrower. Lender shal]not be required to commence proceedings against any Successor in Interest
<br /> of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by
<br /> this 5ecurity Instrument by reason of any demand made by the original Borrower or any Successors in Interest of
<br /> Borrower. Any forbearance by Lender in exercising any right or remedy including,without limitation,Lender's
<br /> acceptance of payments from third persons,entities or Successors in Interest of Borrower or in amounts less than
<br /> the amount then due,shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> IniCials: ��/��
<br /> NEBRASKA--Single Pamily--Feouie Mae/Freddie Mac UN[FORM INSTRUMENT Form 3025 tl01 (page 6 of 10 pages)
<br /> NECMM6-01042012 www.ProClose.com
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