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<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
<br /> such repair and restoration period,Lender shall have the right to hold such Miscellaneous Proceeds until
<br /> Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
<br /> satisfaction,provided that such inspection shall be undertaken promptly.Lender may pay for the repairs
<br /> and restoration in a single disbursement or in a series of progress payments as the work is completed.
<br /> Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br /> Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br /> Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security
<br /> would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br /> Instrument,whether or not then due,with the excess, if any,paid to Borrower. Such Miscellaneous
<br /> Proceeds shall be applied in the order provided for in Section 2.
<br /> In the event of a total taking,destruction, or loss in value of the Property,the Miscellaneous Proceeds
<br /> shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,
<br /> if any, 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
<br /> of the Property immediately before the partial taking,destruction,or loss in value is equal to or greater
<br /> than the amount of the sums secured by this Security Instrument immediately before the partial taking,
<br /> destruction,or loss in value,unless Borrower and Lender otherwise agree in writing,the sums secured
<br /> by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by
<br /> the following fraction: (a)the total amount of the sums secured immediately before the partial taking,
<br /> destruction,or loss in value divided by(b)the fair market value of the Property immediately before the
<br /> partial taking,destruction,or loss in 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
<br /> of the Property immediately before the partial taking,destruction,or loss in value is less than the amount
<br /> of the sums secured immediately before the partial taking,destruction,or loss in value,unless Borrower
<br /> and Lender otherwise agree in writing,the Miscellaneous Proceeds shall be applied to the sums secured
<br /> by this Security 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
<br /> Party(as defined in the next sentence)offers to make an award to settle a claim for damages, Borrower
<br /> fails to respond to Lender within 30 days after the date the notice is given,Lender is authorized to collect
<br /> and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured
<br /> by this Security Instrument,whether or not then due. "Opposing Party" means the third party that owes
<br /> Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to
<br /> 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
<br /> interest in the Property or rights under this Security Instrument. Borrower can cure such a default and,
<br /> if acceleration has occurred,reinstate as provided in Section 19,by causing the action or proceeding to
<br /> be dismissed with a ruling that,in Lender's judgment,precludes forfeiture of the Property or other material
<br /> impairment of Lender's interest in the Property or rights under this Security Instrument.The proceeds of
<br /> 1176433724
<br /> NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT &K SE, Form 30281/01
<br /> VMP® 03/11
<br /> Wolters Kluwer Financial Services 201305234.1.1 2295-J20110929Y Initials: Page 10 of 17
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