201405977 - Laserfiche WebLink

Browse

��14�5977 �a} Any such agreements will not affect the amvunts that Bvrrvwer has agreed ta p�y for Mortgage Insurancea ar any�ther terms vf the Loan.SuCh agreements�vi�l not increase the amount Borrower wi�l owe for Mortgage InSurance,and�hey wili not entitle��rrower to any refund. �b} Any such agreements will n�#affect the righ�s��rrower has-if an�-with respect to�he M�rtgage Insurance under�he Ham�owners Prot�ctivn Act�f 1998 0�any other l�v�.These righ�s may include�he right to receive certain disclosures,t�request and obta�n cancellation of the Mvrtgage Insurance,to have the Moxtgage Insurance terminated automat�cally,andlor to receive a refund of any Mor#gage Insurance premiums tha�vvere unearned at the time of sucb can�e�lation�r termination. 1'I. Assignmentof 1lAiscelianeousPra�ee�s;Forfeiture.All Miscellaneous proceeds are hereby ass�gned to and s�all be paid to L�nder. If the Property is damaged, such Misce��aneous Proceeds sha��be applied to restoration or r�pa�r of the Property, if the restoration ar repair is economically feasible and Lender's security is not lessened. During such repair and restorat��n period, Lender sha��have the r�ght to ho�d such Misee�lan�ous Proceeds unti� i,ender�as had an opportunity�o inspect such Prapert�to en�ure the work ha�'been comp�ete�to Len�er's satisfaG��on,pro�ided that such�nspection sbal��be under�aken pramptly. Lender may pay for th�repair�and restorat�on in a single disbursement or in a ser�es af progress payments as the work��compl�t�d.Un�ess an agreement is made in writing or Applicable La�requires int�rest to be paid on such Misce��aneous Proce�ds, Lender shal�nat be required to pa�r Borra�er an�r xnterest or earnings on such 1Vliscella�ne�us Proceeds. If th� restorat�on ar repa�r is not economically feas�ble ar Lender's security wau�d be lessened,�he Misce�laneaus Proceeds shall be applied t�th�sums secured b�th�s Security instrument,�uhether or not then due,�ith the excess, if any,paid to B�rro�ver. �uch Mi�c��aneous Proceeds shall be applied in th�order pro�ided far in Section 2. In the e�ent of a t�tal tak�ng,destruction,ar Ioss in�ralue of the Proper�y,�he Miscellaneous Proceeds sha11 be app�ied to the sums secured by this Security Instrum�nt,whether or nat then due,w�th the ex�ess, if any, paid to Barrower. In the eve�at af a partial taking,destruction, or loss in�alue of the Proper�y in which the fair maarket value of the Property immediate�y befare the part�al taking,destructian,or loss in value is equal to or greater than the amount of the sums secured by this�ecurrty�nstrument�mmediately before the partia�taking,destruction,or loss�n value,unless Borra�ver and Lender otherv�rise agree in�vriting,the sums secured by this�ecurity �nstrument sha�l be reduced by the amount of the Miscellaneous Proceeds mult�plied by�he fo�lawing fraction: (a}the tota.l amount of the sums s�cure�immediate�y before the partial ta.king,destruction,or loss in value divided by�b)the fair market value of the Property immediately before the partial taking, destruc�ion,or loss in value. Any balance shali be paid ta Borrower. In the evea�of a partial ta.king,destruction,ar loss in value af the Praperty in�vhich the fair market value of the Froperty in�med.iately befare�he partial taki�g,destruction,or loss i.n va�ue is�ess tha�the amount af the sums secured immediatel�befor�the partial taking,destruction,or loss in va�ue,unless Borrower and Le�tder othervvise agre�in�vriting,the Misce��aneous Proceeds sha��be applied to the sums secured by this Secur��y instrument�rhether or not the sums are the�due. If the Property is abandoned by Borro�v�r,or if, after notice by Lender�o Barrower that th��ppas�ng party (as��fine��the n�xt sentence�offers to make an a�ard�to settle a�la��fo�dar�ages,Ba�r��e�fai�s to respond to Lender with�n 3�days after the date the notice is given, Lend�r is authorized to coll�ct and apply the Misce�lan�ous Proceeds either t�rest�ra�ion or repair of the Property or to the sums s�cured by this NEBRASKA-Smgle Family-Fannie MaelFredd�e Mac UNIF�RM INSTRUN]ENT WITH MERS � Form 3�28 11U1 VMP Q VMPfiA{NE][1342}.4f} Walters Kluwer Finar�cial SeFvices Page 14 af"!7 q�33344397�5 �233 275 1�17