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201406486
<br /> satisfaction, provided tliat such inspection shall be undertalcen promptly. Lender may pay for the repairs
<br /> and restoration in a single disburseinent or in a series of progress payments as the worlc is completed.
<br /> Unless an agreement is rnade in writing or Applicable Law requires interest to be paid on such
<br /> Miscellaneous Proceeds, Lender sha11 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 would
<br /> Ue lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instruinent,
<br /> whether or not then due, witli the excess, if any, paid to Borrower. Such Miscellaneous Proceeds sllall be
<br /> applied in tlie order provided for in Section 2.
<br /> In the event of a total talcing, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall
<br /> Ue applied to the sutns secured by this;Security Instrunlent, whether or ilot then due, with the excess, if any,
<br /> paid to Borrower.
<br /> In the event of a pai•tial talcing, destruction, or loss in value of the Property in which the fair market value of
<br /> the Property iirunediately before the partial talcing, destruction, or loss in value is equal to or greater than the
<br /> arnount of the stuns secured by this Security Instrument irrunediately before the partial taking, destruction, or
<br /> loss in value, unless Borrower and Lender otlierwise agree in writing, the sums secured by this Security
<br /> Instruinent sha11 be reduced Uy the amourit of the Miscellaiieous Proceeds multiplied by the following
<br /> fi•action; (a)the total aanount of the sums secured iirunediatiely before th�partial talcing, destruction, or loss
<br /> in value divided by(b)the fair inarlcet value of the Froperty ir�vnediately Uefore the partial talcing,
<br /> destruction, or loss in value. Any balance sha11 be paid to Borrower.
<br /> In the event of a pai�tial talciiig, destructiozi, or loss iii value of the Property in which the fair inarlcet value of
<br /> the Property iirunediately before t17e partial talting, destruction, or loss in value is less t11an the ainount of the
<br /> stui7s secured iintnediately before the partial taking, destruction, or loss in value, unless Borrower aald
<br /> Lender otherwise agree in writing, the Ivliscellaneous Proceeds shall be ap�lied to the sums secured by this
<br /> Security Instrument whether or not the sums are then due,
<br /> If the Property is aUandoiled by Borrower, or if, after notice by Lender to Borrower that tlie Opposing Party
<br /> (as defined iii the nexl sentence) offers to inalce an award to settle a claim for damages, Borrower fails to
<br /> respond to Lender within 30 days after the date the notice is given, Leiider is authorized to collect a11d apply
<br /> the Miscellaneous Proceeds either to restoration or repaii�of the Property or fo the sums secured Uy this
<br /> Securitiy Instruinent, whether or not then c1ue. "Opposing Party° melns the thircl party that owes Borrowei•
<br /> Miscellaneous Proceecls or the party against whom Borrower has a right of action in regard to Miscellaneous
<br /> Proceeds.
<br /> Bori-ower shall be iii default if any action or proceeding, whether civil ox criiiunal, is begun tllat, in Lender's
<br /> judgineiit, could res�lt in forfeiture of tlie Property or other material impairment of Lender's interest in the
<br /> Property or i•ights under tlus Security Instrurnent. Borrower can cur•e such� ciefault and, if acceleration has
<br /> occurred, reiiistate as provided in Section 19, by causing the actiion or proceeding to be disinissed witll a
<br /> ruling that, in Lender's judgment, precludes forfeiture of tlle Property or other material i17zp�irment of
<br /> Lencler's inteiest in the Propez•ty or rights under this Security Instru�nent. The proceeds of any awai�d or
<br /> claim for d�u7ages that are attributable to the impairinent of Lender's interest in the Property are hereby
<br /> assigned and sh�ll be paid to Lender.
<br /> All Miscella�ieous Proceeds that ai-e not a�plied to restorltion or repair of the Property shall be applied in the
<br /> or�ier pi•ovided for iii Section 2,
<br /> 24007178
<br /> NEBRASKA-SIngle Fam ily-Fannie M ae/Freddie M ac UNIFORM INSTRUM ENT Form 302a 1/01
<br /> VM P O VM P6(NE)(1302)
<br /> Wolters Kluwer Financial Services Page 10 of 17
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