|
��15�1�4�
<br /> satisfa�tian, pro�v�ded that such�nspect��n sha�l be undertaken promp��y. Lender may pa�f�r�he repairs
<br /> and restora�ior�in a singl�disburs�men�or in a ser�es of progress payments as the w�rk is�omp�eted.
<br /> Unl�ss ar�agreem�nt is mad��n wr�t�ng�r App��cab�� Law requires interes�t�be pa�d�n such
<br /> Miscel�an�ous Pro�eeds, Lender sha�� not b�requ�red��pay Borrower any interes�or earr�ings�n such
<br /> Miscellane�us Pr�c�eds. If�he restorati�n�r repaxr�s not economica��y f�as�bie or Lend�r's se�uri��would
<br /> be le�se��d, �he Misce��aneaus Proc�eds sha�� b� app��ed to�he sums secured b�r th�s Security�nstrument,
<br /> wheth�r or n���hen due, 'VV1t�l t�l��KC�55, zf any, pa�d to B�rrawer. Such Misce��aneous Pr�ceeds shali be
<br /> app�ied in the nr��r pro��d�d for�n Sec��on 2.
<br /> In the event�f a to�a�taking, des�ruc��on, or�oss in valu��f the Praper�y, �he Misce��aneous Proceeds shall
<br /> be app��ed�a�he sums secured by t��s �ecur�ty�nstrum�nt, �vhether or no�then due, with�he excess, �f any,
<br /> pa�d�o Borr�w�r.
<br /> �n the�vent of a par�ial taking, des�ruc�ion, �r loss in va�ue of the Property in wh�ch the fair market�alue of
<br /> �he Praperty imm�d�ately bef�re�h�partiai taking, des�ruct�an, or loss in�a1ue xs equal to or greater than the
<br /> amount af the sums secured by this S�curit��nstrument�rn�mediat��y b�fore�he par�ia�taking, destructi�n, �r
<br /> �ass �n value, un�ess Barr�w�r and Lender otherw�se agree in wri�ing, the sums secured by�h�s S�curi�y
<br /> �ns�rument shali be reduced by the amaunt of the M�scel�ane�us Pr�c�eds mu�t�plied b�the fo�lo�v�ng
<br /> frac�ion: �a}�he tota� amoun�of the sums secured imm�diate�y befflre the part�a� taking, destruct�on, or lass
<br /> in�a�ue d�v�ded by ��}�he fa�r marke��al.ue of�he Prop�r�y �mmed�a�e�y before the par��al.taking,
<br /> destruc���n, or�oss �n�a�ue, Any balanc�shall b�pa�d to Bflrr�v�er.
<br /> �n the event of a par�ia� taking, destructi�n, �r�oss �n va�u�of�he Pr�per�y �n vcr��Ch the fair marke��a�ue of
<br /> the Propert� immediate�y be��re th�partial�aking, des�ruction, or�oss�n va�ue�s less than th�amau��of�he
<br /> sums secured imm.ediate�y befare the par��a��aking, destru��ion, ar lo�s �n va�ue, un���s B�rro�ver an�
<br /> Lender oth�rvv�se agree in wri�ing, the N��sce��aneous Proce�ds�ha.i�be app�ied to the sums secure�b� �h�s
<br /> Secur�t�r �ns�rumen�whe�her or nQt th�sums are th�n du�.
<br /> �f��e�rapert�is abandaned by Barrower, or ifs after notice b�r Lend�r�a Borrow�r tha��he�]ppos�ng Par�y
<br /> �as d�fined �n�he next sen�ence}offers�o make ar�a�nrard to settl�a cla�m for damages, Borrov�rer fai�s to
<br /> respnnd ta Le�der with�n 3Q da�s af�er th�date�he n��ice�s�iven, L�nd��r�s au�hariz�d to caZ��c�and app�y
<br /> �he Misce��aneous Pr�ceeds either�o restora��on or repair of the Properry or ta the sums secur�d by�h��
<br /> S�cur��y�nstrument, whether or no�th�n�u�. "�pposing Par�y" means�he third par���ha�owes Barrower
<br /> ° M�sce��aneous Pr�ceeds�r the party against wh��m B�rraw�r has a right of a��ion in regard�o ll��scel�aneous � �
<br /> �.� Praceeds.
<br /> Barrower shal�be�n d�fau�t if any acti�n or prac�ed�ng, wh�ther����� or criminal, is begun�hat, in L�nder's
<br /> judgmen�, couZd resu�t in f�rfexture of t�.e Praper�y or other m.a��r�a� impairmen��f Lender's in�erest�n the
<br /> Proper�y�r rights under th�s S�cur��y �nstrument. Borr��v�r can Cure such a d�fau�t and, �f accelerat��n has
<br /> �ccurred, reins�ate as pro��ded in S�ction 19, by causi�.g�he action or prflceeding�n be d�smiss�d w�th a
<br /> rul�ng that, in L�nder's ju�igmen�, pr���udes f�rf��tur�of the Praper���r�th�r mater�a� zmpairm�nt of
<br /> Lend�r's intere�t�n�h�Praperty or rights under this Security Instrum�nt. The pr�ceeds af any award or
<br /> claim fnr damages that ar�a�tr�butab�e to�he�mpa�rment af Lender's znterest in the Proper�y are hereby
<br /> assigned and sha��b�pa�d to L�nder.
<br /> Ali M�scel�ane�us Proce�ds that are not app��ed ta restarat�on�r repair of the Pr�per�y shall be applied�n the
<br /> arder prov�ded for�n Section 2.
<br /> NEBRASfCA-Single Fami�y-Fannie MaelFreddie Mac 11N��ORM INSTRUMENT �arm 3428 1101
<br /> VMP Q VMPfi�N�}{7302}
<br /> Wa�ters Kluwer�inancial S�r�i��s Pag�14 of i 7
<br />
|