201210011 - Laserfiche WebLink

Browse

201210011 satisfacGon,provided tliat such inspection stiall be undertaken promptly. Lender may pay far the repairs and restoration in a singlc disbursement or in a scries of progress payments as the w�ork is completed. Unless an agrecment is made in writing or Applicable Law requires imerest to be paid on such Miscellaneous Proceeds,Lender shall not be requircd to pay Borrowcr any interest or eamings on such Miscellaneous Proceeds. If the restorauon or rcpair is not economically feasible or Lender's security would be lessened, the Miscellaneous Pmceeds shall be applied to flie sums secured by this Securiry Instrument, whether or not then due, wilh the escess, if azp�, paid to Borrowcr. Such Miscellaneous Proceeds shall be applied in the ordcr provided for in Seclion 2. In lhe event of a[otal talcing, desuuction, or loss in valuc of lhe Property, the Miscellaneous Proceeds stWll be applied to lhe sums secured by this Securin� Instrumem,whedier or not then due, with the eacess, if any, paid to Borrower. In the event of a partial taking, destmction,or loss in valuc of thc Property in which thc fair market valuc of the Property immediately before the partial taking destructioq or loss in value is equal to or greater than the amount of the sums secured by this SecuriTy Instcument immediately bcforc thc partial taking, deslruction or loss in value, unlcss Boirower and Lender otherwise agree in wnling,the sums secured by this Secunn� Instrument slwll be reduced by the amount oF the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of the sums secured immediately before the partial taking, destruc[ion, or loss in value divided by(b)U�e fair markct value of the Property immediately hefore the partial taking, dcsmiction, or loss in valuc. Any balance sltall bc paid lo Borrowcr. In the eveM of a paRial taking, desUuction, or loss in value of the Property in which the fair market value of thc Propertv immediately bcfore the partial taking, destruclioi�, or loss in valuc is]css than lhc aznowll of tl�e sums securcd immediately before thc pariial taking, destruction, or loss in value,unless Borrower and Lender othenaise agrce in writing, the Miscellancous Proceeds shall be applied to lhe sums secured by this Security InsUument whether or not the sums are then due. If the Properry is abandoned by Borrower, or if, after notice by Lendcr to Borrower that thc Opposing Pazh- (as defined in the next semencc)offeis to make an a�vazd to settle a claim for damages,Borrower fails to respond to Lendcr within 30 days after the date the notice is give�,Lender is authorized to collcct and apph the Miscellaneous Pmceeds ci[her to restorauon or repair of the Properry or ro the sums secwed by this Security Instmment, whether or not then due. "Opposing Parip" means the tlard parly that owes Borrower Miscellaneous Proceeds or thc pariy against whom Borrower lias a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could eesult in forfeiWre of the Properiy or olher material impairment of Lender's interest in the Properiy or rights under this Security InsLnunen[. Borrower can wre such a default and, if acceleration has occurred, reinsrate as pmvided in Section 19, by causing the acuon or pmceeding to be dismissed with a niling that, in Lender's jndgment,precludes forfeiture of the Proper[y or o[her material impairment of Lcndcr's interest in the Properly or rights under this Security Instrument. The proceeds of any akard or claim for damagcs that are attributable m the impairment of Lcndcr's in[cresl in tl�c Properiy are hereb} assigned and sliall be paid[o Lender, All Miscellaneous Proceeds[hat are not applied to restoration or rcpair of the Properly shall be applied in the order provided for in Section 2. NEBRPSKASIngle Family-Fannle MaelFreddie Mec UNIFORM INSTRUMENT Porm 30201/01 VMP".9 VMP6(NE)(1t05)00 Nblters Kluwer Financiel Services Peqe 10 of 1]