|
��15�1�95
<br /> sa�isfa��ion, pra�ided tha�su�h��sp���inn shall be und�rtak�n prampt�y. Lender may pay far th�repairs
<br /> and res�oration�n a s�ng�e disbursement or in a ser�es of pragr�ss payments as the work�s comp�et�d.
<br /> Unless an agreemen� ��made in vvri�ing or App��cab��Lavv re�uzres �nt�rest to�e paid on such
<br /> Mis�ellaneaus Proce�ds, L�nd�r shal� not be r�quzred to pay Borr�wer any�nterest or earnings on such
<br /> M�scellaneou�Pro�eeds. If th�r�stora�i�n or repa�r�s nat econam�ca��y f�aszble�r Lender's s�curity�vou�d
<br /> be le�sen�d, �he M�sc�Iiarieous Procee�s sha��be appx�ed�o�he�urns secured by trizs Securit�r �ns�rum�n�,
<br /> v�hether ar n�t then due, with the excess, �f any, pa�d ta Borrower. Such M�sce��aneous Praceeds sha�l be
<br /> applied in�he order provide� for in S�ction 2.
<br /> �n th�even�of a to�al�aking, destructian, or�oss in value af the Pr�per�y, �he Misc���ane�us Proceeds sha��
<br /> be ap��ied�o�he sums secur�d by�his S�curity Instrumen�, whe�her ar nat then due, w�th the e�cess, �f any,
<br /> paid to Borr��ver.
<br /> In the ev�nt of a partia�tak�ng, destruct�or�, or�oss in valu�of th�Pr�p�r�y�n wh�ch the fair market�va�ue of
<br /> �he Praperty imm�diately hefare�he par�ial taking, d�structi�n, ar loss in�a�u�is equal to or gr�ater�han the
<br /> amount of the sun�secured by th�s Security Instrument immediately b�for�the par�ia� �aking, des�ruct�on, ar
<br /> Inss in value, unless B�rrower and Lender�therw���agree in wri�ing, the sums secured by�his S��ur�ty
<br /> �nstrumen�shal�be reduced�y��e amount of the N��s�ei�anenus Proce�d�multipii��h�the f���ow�ng
<br /> fract�on: �a)�h�total am�un�af the sum�s�cur�d�mmed�a��Zy before th�par��al taking, des�ruct�on, �r lass
<br /> in�ai.ue d�v�ded�y tb��he fair rnarket�alue�f th� Pro��r�y�mmed�ate�y bef�re���partia�tak�ng,
<br /> destruc�i�n, c�r�oss in value. An�balar�ce shall be paid�o Bvrr�w�r.
<br /> ��.�h�e�ent of a part�al�aking, d�s�ruc�ion, or lass in value of the Proper�y xn whxc�i�he fazr market value of
<br /> t.��Pr�p�r��imn�edi�te��r bef�re�he par�i��ta�in�, destructi�n, �r l�ss in�alue�s ��ss than the amaun�of the
<br /> sums secured�mmediatei�b�fnr�th�partial taking, d�stru��i�n, or�ass in va�ue, unless Borr�wer and
<br /> L�n�er nthervvise agree in wr�t�ng, �.he N�xsce��arzeous Prace�ds shall be appiied�o�h�surns secur�d by this
<br /> Secur�ty�nstrument�he�her or no��he su�ns ar�then due.
<br /> If�he P�raper�y is a�a.r�dan�d b�B�rr�w�r, ar if, after not�ce by Len�ier��Borravver tha��he�pposing Par�y
<br /> �as definec�in�he ne�.�sentenc�} offers�a rnake an award to sett��a claim far damages, Borr�wer fai�s ta
<br /> respond�v Lender�r�th�n 30 days after�h�date�he notice is g��en, Lend�r is au�oriz��ta c�lle��and app�y
<br /> th�N�isce�laneous�raceeds e���er t�restoration�r repair af�he Prop�r�y or t�the sums s�cured by�his
<br /> Secur�ty�ns�rumen�, whether�r not t�en due. "�pposing Par�y" m�ans�he third party�hat ovves Borrower
<br /> M�sce��ane�us Proceeds ar the par�y agains�wharn B�rrower ha� a r�ght�f ac�ion�n regard�o N�iscellaneous
<br /> Pro��eds.
<br /> Borrawer�ha11 be in defau�t�f any ac�ion ar prac��ding, whether ci��� �r cr�m�na�, �s begun tha�, in Lender's
<br /> ju�.grnent, ��u1d resu�t in forfe�tur�af t�e Proper�y �r other ma�er�al impairment of L�nder's �r�t�rest�n�he
<br /> Prop�r�y ar rights under��is Secur�ty�nstrument. Barrower can�ure�uch a defau��and, if a�ce�era��an has
<br /> �c�urred, reins�a�e as provided in Se�t��n �9, by causing��e action�r pra���ding to be dism�.�sed wi�h a
<br /> ru��n�t�at, �n Lender's�udgment, precludes forfe�ture�f�he Property�r other rnateria.� impa�rmen�af
<br /> Lender's interes�in�he Pr�perty or right�under th�� Se�urity�ns�rum�n�. The pr��eeds af any a�ard or
<br /> c�aim for damages�ha�are attribu�able�o the impairment�f Lender's�nteres�zn the Proper�y ar�hereby
<br /> assign�d and sha��be paid�o Lender.
<br /> Al� Miscellaneous Praceeds that are no�appl��d�o restorat�on or repa�r of�he Proper�y sha�� be app�ied�n the
<br /> �rder pravided for in S�c��on 2.
<br /> NEBRASKA-Single Family-Fannie MaelFreddie Mac UNI�DRM tNSTRUMENT �vrm 3�28 11�1
<br /> VMP[� VMPfi{NE]�1302y
<br /> Wolters Kluwer�inancial 5�r�ic�s Page 1�v�'f 7
<br />
|