|
201401367
<br /> (8) Any such agreements will aot affect the amounts that Borrower has agre� to pay faor Moa�tgage
<br /> Insurance, or any other terms of the Loan. Such agreent.ents wi11 not increase the amount
<br /> Borrawer will owe�or Mortgage Insut'a,�ce, and��'y will nof entitle Bonower fo any refund.
<br /> (b) Any suc� agreena�#s will not affect the rigl�ts Borrower 3�as - if any - with respect to the
<br /> Martgage Insurance under�he Homeawners I'rotection Act of 1998 or any ather Xaw. These rights
<br /> may include the right to receive certain di.sclosures, to request and obtain ca�celiation of the
<br /> Mortgag�Insurauce, to have the Mortgage Irisurance terminated a�tomatica:lly, andlor to r�cei�e
<br /> a refund of any Mortgage Insurance pre�miums that were unearned at the time of such
<br /> cancellation or termination.
<br /> 1'!. Assignment of M iscellaneaus Pr'oCeeds; Forfeiture. All Miscellaneous Proceeds are h�reby assigned #o
<br /> and shall be paid to Lender.
<br /> If the Property is damaged, such Miscellaneous Proceeds shall he applxed ta restoration or repair of the
<br /> Property, if the restoration or repair is econamica�ly feasible and Lender's security is not lessened. During
<br /> such repair and restaration periad, Lender shall ha�e the right to haid such Miscellaneous Proceeds until
<br /> Lender has had an oppor#un'rty to inspect such Praperty ta ensure the work has been completed to Lender's
<br /> satisfaction, provided khat such inspectian shali be nndertaken prompfly. Lender may pay for the repairs and
<br /> restoration in a single disbursernent or in a series af pro�ress payments as the work is campleted. Unless an
<br /> agr.eement is made in writing or Applicable Law reqr�ires interest to be paid on such Miscellaneous Proceeds,
<br /> Lender shall not be reqnired to pay Borrower any interest or earnings on such Miscellaneaus Proceeds. If ttie
<br /> restoration ar repair is not economieally feasible or Lender's security would be lessened, the Miscellaneous
<br /> Proceeds shall be appIied to the sums secwred by this Security Instrament, whether or not tften dpe, �vith the
<br /> excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br /> Sectian 2,
<br /> �n the event of a total taking, destruction, ar loss in value of the Property, the N4iscellaneous Proceeds shall
<br /> he applied to the surns secured by this Secr�'ity Instrument, whether or not theza dne, witl� �he excess, if any,
<br /> pai:d to Borrower.
<br /> Xn the ever�t of a partial takuig, destr�ction, ar lass in value of the Property in whic�the fair market value of
<br /> the Progeriy immediately before the partial taking, destcucti�n, or loss in value is eqnal to or greater than the
<br /> anna�utt of the sums secured by this Security Instiwnent immediately before the partial taking, destruction, ar
<br /> loss in value, unless Borrower and I.,ender orher�rvise agree. in writing, the sums secured by �l�ais Secucity
<br /> Instizdmient shall be redaced by the amaunt of the Miscellaneous Praceeds muitiplied by the follawing
<br /> fractian: (a) the total amaunt of the sums secuz'ed immediately before the partial taking, destruction, or ioss
<br /> in val�e divided by (b) the fair mar�ket value af the Froperty immediately hefore the partial taking,
<br /> destruction, or loss in valne. Any balance shall he paid to Bartower.
<br /> Tzt t�e event of a partial taking, destruction, or loss in v�lne of the Praperty i�vvhich the fair market value of
<br /> the Property immediately before the partaal taking, destructian, or lass in valne is less than the amount of the
<br /> su�ns secured irnmediately hefore the partial taizing, destruction, or loss in value, unless Borrower and
<br /> Lender otherwise agree i� wriHng, the Miscellaneous Proceeds shall be applied to the s�ms secvred by t�is
<br /> Secni�ily I�str�nent whefiher ar nat the sunns a�'e then due.
<br /> If tt�e Property is abandaned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party
<br /> (as �efined in the ne.�ct sentence) affers to make an award ta settle a claim for damages, Bor�'ower fai�s #o
<br /> respoz�d ta Lender within 30 days after the date the noE�ce is given., Lender is authorized to collect and apply
<br /> the Miscellaneo�s Pmceeds either to restoratio� ar repair of the Property or ta the swns secvred by this
<br /> qQ9723$73783 [001123873783]
<br /> NEBRASKA-5ingle Family-Fannie MaelFrec4dfe Mac i1NEFORM INSTRLIMENT WffH MERS Fprm 3028 7I09
<br /> VMP p V3UIP6A{NE}(1302).00
<br /> Waqers KluweJ Financiaf Senrices Page 10 of 37
<br />
|