|
��15���11
<br /> sa.tisfa�tion, provided that such inspectian shall be uncier�aken pr�mptly. L�de�r may pay for the re�pairs
<br /> and restoration in a single disbursement t�r in a series vf progress payrne�nts as the work is campleted.
<br /> Unless an agreeme�nt is made in writing vr App�i�able Law requires interest ta be paid un such
<br /> Mi sce�lauevus Pro�eeds, Le��'shall not be required to pay Borrower auy intere�t or earnings on such
<br /> Miscellaneaus Proc�eds. �f the restoration or repa.ir is not econvmirally feasible or Len�er's secu�rity wou�d
<br /> b�iess�ned, the Miscellaneous Proceeds shall be appli�d to the sums se�ur�d by this Securifiy Instrument,
<br /> whether vr not the�n due, w�th the excess, if any, paid to Barrower. Such Miscellaneous Proc�shal�be
<br /> applied in tb�order provided for in Section 2.
<br /> In the event of a total taking, de�truction, ar loss in valu�af the Property, the Misc�l�aneous Proceeds sha�l
<br /> be applied�o the sums secur�d b�r this Se�urity Ins�rument, whe�ther or not the�n�iue, with the exGess, if auy,
<br /> paid to Borr�wer.
<br /> In the e�vent vf a par�ial ta�ang, destruction, ar Ioss in value of the Property in which the fair market value nf
<br /> the Prvperty immediately before the partial taking, de�ru�tion, �r I�ss in va�ue is equal ta or greate�r thsan the
<br /> amount vf the sums s�ured by this 5ecurity Instrume�at immediately before the partial taking, destruction, ar
<br /> lvss in�alue, un►less Borrower and Lender othe�rwise agree in writing, the sums secured by this Security
<br /> Instrume�►t sha11 be r�du�i by the amouu�of the Miscellaneous Proceeds mulriplied by the following
<br /> fraCtian: (a)the total amauu�t of the surns secured immediately befare the part�al takxng, de�ruction, ar loss
<br /> in�a1ue divided by�'b)the fair market vaiue�f t�ae Prapezty immediately before the part�ial talcing,
<br /> destruction, or loss in va1u�. Any balance sha�1 be pai�to Borrower.
<br /> In the eve�nt of a partial taking, destruction, or lass in value of the Praperty in wh�ich the fai.r marke�t value�f
<br /> the Property irnm�ately bef�re the partial taking, destruction, ar loss in value is less than the amvunt vf the
<br /> sums secured immediately before the partial ta�c.iing, destruction, or loss in value, u�nl.ess Borrower and
<br /> Le�der other�wise agree�n writing, th�Miscel.laneous Prviceeds sha11 be applied to t�e sum.s secured by this
<br /> Security Instrume�nt whetber or not the sums are then due.
<br /> If the Prvperty i s abaudoned by Borrower, ar if, after n�tice by Le�nde�to Barrow�r that the�pposing Party
<br /> �as de�in�i in the next sentence}ofFers to make ara award to settle a claim for dama�es, Borr�weT fails ta
<br /> respond to Lender w7ithin 34 days afte�r the date the notice is give�, L�nnder is authar�a.,ed to colle,c�and app�y
<br /> th�Miscellanevus Pro�eeds either to restaration ar repair of the Property or to the sums secured by this
<br /> Security Instru.ment, whether or nat then due. "�ppasing Party" meaans the third party that awes Borrower
<br /> Miscellaneous proceeds or t}�e party again�t.whom Borrawer has a right of act�ion in regard ta Miscellaneous
<br /> Proce@ds.
<br /> Borrower sha�l be in d�fault if any action vr proceeding, whe�ther civil�r criminal, is hegun thats in Lender's
<br /> 'ud e�nt, could result in furfeiture�f t�e Praperiy�r�ther material irr�airment of Lender's interest in the
<br /> ] �
<br /> Property vr rights under this Security Instrume�nt. Borrawer can cure such a defaul�and, if aGcele�rati�n has
<br /> t�urred, reinstate as prvvided in 5ection 19, by causing the a,c�ivn or proceeding to be dismissed with a
<br /> ruling that, in Lender's judgment, prec�udes farfeiture af the Property or�th�r material�mpairmeaat�f
<br /> Lender's interest in the Proper�or ri�hts under this Security Instrurn►e�t• The proceeds of any award vr
<br /> claim for damages tha�are attributable tv the im�airment�f Le�nder's interest in the Property�'e hereby
<br /> assigned and shall be paid ta L�nnder.
<br /> Al�Miscellan�ous Froceeds that are nvt applied tv rest�ratian or repair af the Property shal.l be a�plied in the
<br /> vrder provided fvr in 5ectiian 2.
<br /> 23��353487 D VBNE
<br /> NEBRASKA-5ingle FSmily-Fannie M�elFreddie Mec UNiF�RM INSTRUMENT Form 3�28 110�
<br /> VMPg�NEy t13�7Z
<br /> VMp(� Pape 1 fl vf 17
<br /> WoFters Kluwer Financi�l 5aniices
<br />
|