|
201210843
<br /> (a) Any such agrcements will not affect the amounts tLat Borrower has agreed to pay for Mortgage
<br /> Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br /> Borrower will 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
<br /> Mortgage Insurance under the Homeowners Protectiou Act of 1998 or any other law. These rights
<br /> may include the right to receive certain disclosures, to request and obtain cancellation of the
<br /> Mortgage Insurance, to have the Mortgage Insurance terminated automarically, and/or to receive
<br /> a refund of any Mortgage Insurance premiums that were uneamed at the time of such
<br /> cancellation or terminatlon.
<br /> 11. A�ignment of M iscelianeous Proceeds; Forfeiture. All Miscellaneous Proceeds aze hereby assigned to
<br /> and shall be paid to Lender.
<br /> If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br /> Properry, if the restoration or repair is economically feasible and Lender's security is not lessened. During
<br /> such repair and restoration period, Lender sha11 haue the right to hold such Misccllaneous Proceeds until
<br /> Lender has had au opportunity to inspect such Property to ensure the work has been completed to Lender's
<br /> satisfaction, provided that such inspecuon shall be undertaken promptly. Lender may pay for the repairs and
<br /> restoradon in a single disbursement or in a series of progress payments as the work is completed. Unless an
<br /> agreement is made in writing or Appliwble Law requires interest to be paid on such Miscellaneous Proceeds,
<br /> I.ender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br /> restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br /> Procceds shall he applied to the sums secured by this Securiry Instrument, whelher or not then due, with the
<br /> excess, if any, paid to Horrower. Such Miscellaneous ProceEds shall be applied in the ordcr provided for in
<br /> Section 2.
<br /> In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneou,s ProceetLt shall
<br /> be applied to the sums secm�ed by this Security Insfrument, whether or not then due, with the excess, if any,
<br /> 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 partial taking, desmiction, or loss in value is equal to or greater than the
<br /> amount of the sums secured by ttus Security Instrument imn�uliately before the parnial taking, deshuction, or
<br /> loss in value, unless Borrower and Lender otherwise agree in writing, tbe siuns secured by this Security
<br /> lnsu-ument shall be reduced by the amount of the Miscellaneous Procceds multiplied by the following
<br /> fraction: (a)the total amount of the sums secured immediately before the paztial taldng, destnadion, or loss
<br /> in value divided by(b)the fair market value of the Property immediately before the partial taking,
<br /> destruction, or loss in value. Any balance shall be paid to Borrower.
<br /> In the event of a partial taking, desiruction, or loss in value of the Property in which the fair market value of
<br /> the Property immediately before the paztial taking, deshvction, or loss in value is less tUan the amount of the
<br /> sums secured immediately before the partial taking, destruction, or loss in value, uriless Borrower and
<br /> [.ender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secwed by this
<br /> Security Instcument whether or not the sums aze then due.
<br /> If the Property is absndoned by 8orrower, 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, Horrower fails to
<br /> respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply
<br /> the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br /> 23002]8954 D V9ANE
<br /> NEBRASKA-Sinpk Femiy-Fanhe Mae/Freddie Mec UNIFORM INSTpUMENT WRH MEPS Po�m 3028 1 Ni
<br /> VMP;rt VMPBA(NE)ry 105)
<br /> Wolters Kluwer Finenael Sxvices Pege 10 ot V
<br />
|