|
��14��9�1
<br /> satisfaction, provided that such inspe��ian shall be und�r�aken promp��y. Lender may pay f�r the repairs
<br /> and restorati�n in a sing�e d�sbursern�ent or�n a ser�es of pr�gress payments as the work is co�mpleted.
<br /> Un�ess an agreement is m�ade�n wr��ing or Applicab�e Law requ�res �nterest ta be pa�d on such
<br /> Miscellaneous Proceeds, L�nd�r shal�n�t be required�o pa�B�rrnwer any interest�r earn�ngs on�uch
<br /> M�scellaneous Proceeds. �f�he restoration or repa�r�s nat��anam�ca��y feasib�e or Lender's securit�would
<br /> be lessened, �he Miscellaneaus Proceeds shall be appli�d to�he sum,s secured by th�s Secur�ty Instrument,
<br /> whether or nat then due, with�he excess, if an�, paid to B�rro�er. Such Misce�lan�ous Proceeds shall b�
<br /> applied�n�he order provided for in Sectian 2.
<br /> �n the event of a total ta�ing, de�tructian, or��s� �n va�u�of�he Property, the M�sce��an�ous Pro�eeds sha��
<br /> be app�zed t�th�sums se�ured by th�s Secur�ty �ns�rument, whether nr not th�n due, �vi�h �he exces�, if any,
<br /> paid to Borrawer.
<br /> In th�event of a partial taking, destructi�n, ar lo�s in�a�ue of the Proper�y in which the fair market�a�ue of
<br /> th�Prap�r�� �mmediat�Iy�efare the part�a� ta.�in�, d�s�ruction, ar la�s �n�value�s�qua� ���r grea��r��.an�he
<br /> amnun�of�he sums s��ured by this Se�uri�y �nstrum�n� immediatel�before�he part�a��ak�ng, des�ruct�on, nr
<br /> lflss in�a�ue, unless Borr�wer and L�nder otherw�se agree�n vvr���ng, the�ums secured by�his Securi�y
<br /> �nstru�men�shall be reduced b�r the am�unt of the Mzs�e��aneaus Praeeeds multiplied by the fol�owing
<br /> fraction: ta} �he to�al am�unt of the sums secured immediate�y before the par�ial taking, d�s�ru��ian, or loss
<br /> in value�i�ided by �b} �he fair marke��a�ue of the Property immediatel�before the par�ia� taking,
<br /> destruction, or Ioss in�aiue. An�ba�ance shall be paid to Borrawer.
<br /> �n the�vent of a par��a� �aking, d�s�ruct�on, or lass �n�valu��f the Property �n wh�ch th�fa�r xnarket va�ue af
<br /> �he Proper�� �m�medza�e�y before the par�ia�taking, des�ruct�on, or�oss �n�a1u�is less�han�he amaunt af�he
<br /> sums secured �mmediate�y before the par�ial �aking, des�ruct�on, ar�oss �n value, unl�s�Barrower and
<br /> Lender a�herw�se agree in writing, �he Misceilaneous Proceeds shall be app�ied to the sums secured by�his
<br /> Security �nstrum�n�whether ar not the sums are then due.
<br /> �f the Property �s a�an�.oned by Borrow�r, �r�f, aft�r no�ice by Lender to Borrawer that the�ppas�ng Par�y
<br /> �as defined�n the n�xt sen�ence}�ff�rs�o make an award to ��t��e a cla�m�for damages, Barr�wer fa�ls �o
<br /> respond�o L�nder w��h�n 3�days after��e date the na�ice�s given, L�nder�s authflrized t�c��lect and app�y
<br /> �he M�scellane�us Pr�ceeds��ther t�res�oration or repair af�he Property ar to the surn�s�cured by this
<br /> Se�uri�y Instrument, whether or n�t then due. "app�sing Par��" means the�hird par�y�hat ovves Borrower
<br /> Misce�laneous Proceeds ar the party against whom Borrower has a right of acti�n in r�gard to Mis�ellan��u�
<br /> Proceeds.
<br /> Borrower sha��be�n�efau�� if ar�y ac��on�r proc��ding, wht�her ci�il or cr�nn�na�, is begun tha�, zn Lender's
<br /> judgmen�, could resu�� in forfe�ture af t�.e Pr�perty or�ther ma�erial �nzpa�rment flf Lender's interest in the
<br /> Praper�y ar rights under�h�s�ecurzty�nstrurnent. B�rrawer�an cure such a default and, if acce�eration has
<br /> oc�urred, reins�ate as prov�d�d in Section �9, by causing�he ac��nn Qr proceeding to be di�missed wi�h a
<br /> ruling�hat, in Lender's judgment, precludes forfeiture of the Prap�rty or�ther materia� impa�rment of
<br /> Lender's �nterest in the Proper�y or rights under th�s S�curity �nstrument. The pro�e�ds�f any award�r
<br /> c�aim f�r damages�ha�ar�a�tributab�e to�he impa�rmen�af Lender's interest in the Proper�y are hereby
<br /> assigned and shall�e paid�o Lender.
<br /> A�� Niiscel�aneous Pr�ceeds�hat are not applied to re�t�ra�ion or repa�r af�he Propert�shall be applied in�he
<br /> arder pro�ided for in Secti�n 2.
<br /> N�gRASKA-Single Family-�anni�MaelFredd�e Mac UNIFDRM INSTRUtIA�NT Fvrrn 34�8 lla�
<br /> VMP� VMP�4N�}�13Q�y
<br /> Wa#ters Kluwer Fnancial Ser�ices Page 1❑af�7
<br />
|