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201404750 <br /> In the event of a total taking, dest�•uction, or loss in value of the Property, the Miscellaneous PZ•oceeds shall be <br /> applied to the sums secured by this Security instrument, whether or not then due, with the excess, if any, paid to <br /> Borro�ver. <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 imn�ediately before the partial taking, destruction, or loss in va]ue is equal to or greater than the amount <br /> of the sums secured by this Security Inst�•ument immediately before the partial taking, destruction, or loss in value, <br /> unless Borrower and Lender otherwise agree in writing,the sums secured by this Security Instrument shail be reduced <br /> by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of the sums <br /> secured immediately before the partial taking; destruction, or loss in value divided by(b)the fair market value of the <br /> Properry immediately before the partial taking, destr��ction, or loss in value. Any balance shall be paid to Borrower. <br /> In the event of a partial taking, desh•uction, or loss in value of the Property in which the fair market value of <br /> the Property immediately befare the partial taking, desn•uction, or loss in value is Jess than the amount of the sums <br /> secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise <br /> agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument���hether <br /> or not the sums are then due. <br /> If the Property is abandoned by Borro�ver,or if, after notice by I.,ender to Borrower that the Opposing Party(as <br /> defined in the next sentence) offexs to make an award to settle a claim far damages, Borrower fails to respond to <br /> Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous <br /> Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether <br /> or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party <br /> against whom Borrower has a right of action in regard to Miscellaneous Proceeds. <br /> Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's <br /> judgment, could result in forfeiture of the Property or other mater•ial impairment of Lender's interest in the Property <br /> or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred,reinstate <br /> as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's <br /> judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or <br /> rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the <br /> impainnent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. <br /> All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the <br /> order provided for in Sec2ion 2. <br /> 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the ti►ne for paymznt or <br /> modification of amortization of the sums secured by this Secw-ity Instrument�nanted by Lender to Borrower or any <br /> Successor in lnterest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest <br /> of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Barrower <br /> or to refuse to extend time far payment or otherwise modify amortization of the sums secured by this Security <br /> Instrument by reason of any demand made by the original Borrower ar any Successors in Interest of Borrower. Any <br /> forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of <br /> payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then <br /> due, shall not be a waiver of or preclude the exercise of any right or remedy. <br /> 13. Joint and Several Liability; Co-signers;Successors and Assigns Bound. Borrower covenants and agrees <br /> that Borrower's obligations and liability shall be joint and severaL Ho���ever,any Borrower who co-signs this Security <br /> Instrwnent but does not execute the Note(a"co-signer"): (a)is co-signing this Security Instrument only to mortgage, <br /> �,n•ant and convey the co-signet•'s interest in the Property under the terms of this Security Instrument; (b) is not <br /> personally obligated to pay the sums secured by this Security Instrument; and(c)agrees that Lender and any other <br /> Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security <br /> ' Insirument or 2he Note���ithout ths co-signer's consent. <br /> Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's <br /> obligations�mder this Security instrument in writing; and is approved by Lender, shall abtain al]ofBorrower's rights <br /> and benefits under this Security Instrument. Borrower shall not be released fii•om Borrower's obligations and liability <br /> NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMaglc�YF� <br /> Fotm 3028 1/01 Page 9 of 15 www.docmagic.com <br />