|
��15�1915
<br /> satisfactian, pra�ided that such �nspection shali be und�rta�en prampt�y. Lender may pay for the r�pa�rs
<br /> and rest�rati�n�n a s�ng�e disbursem�nt or in a seri�s of progress payments as the work is comple�ed.
<br /> L�nl�ss an agreernent �s rnade in wr�t�ng or App�icable Law r�quires interest to be paid on such
<br /> Miscellaneflus Prace�ds, Lender sha�� nat�e re�uir�d ta pay Barrower any znterest or earnings on such
<br /> Miscellaneous Prflceeds. If the r�storat�an or repair��not eConomical�y feas�b�e or Lender's security v�rould
<br /> be l�ssened, �h�Mis�ellaneous Proceeds sha��be app�z�d�o�he sutns secured by�h�s S�cur��� �nstrument,
<br /> whether or nat�hen due, �vith the excess, if any, pa�d to Barrow�r. Such Misc�l�ane�us Prace�ds shal�be
<br /> app��ed in�he order pro�ided for in SeGtian 2.
<br /> In the e�ent af a tatal taking, destructian, or�oss in�alue of�he Property, the Miscellaneous Pr�L��ds shal�
<br /> b�applied ta�he sums secured by th�s S��ur�ty Instrument, wh�ther�r not then due, 'VV��h th��xC�55, if any,
<br /> paid t�Barrower,
<br /> �n the event af a par��a��ak�ng, des�ruCti�n, or�o�s in�alu�of th�Propert� in which�h�fair market value of
<br /> �he Prapert� �mmediately before the par��al �a�in�, destruc�ian, or Iass �n va�u� �s equal to or greater than the
<br /> amount of the sums secured by this Secur�t�r�nStrument�m.media�e��bef�re the part�a� �ak�ng, destructian, or
<br /> �oss in value, unless Borrou�er and Lender o�herw��e agree�n wr�ting, �h�sums secured by t�a�s Secur�t�r
<br /> �nstrument sha���e reduced by th�amaun�af the Miscellaneaus Proce�ds mu��iplie�by �h�fol�awing
<br /> fraction: �a} �he�o�a� arnaunt of the sums secured i�nmediately befare the par�ia� takzng, d�s�ruc�i�n, or loss
<br /> in�alue di�ided by �b} �he fa�r marke��a�ue�f the Proper�y immediately befare the par��a� tak�ng,
<br /> des�ru�tian, ar loss in vatue. Any ba�ance sha��be pa�d�o Borr�wer,
<br /> �n the e�vent of a partial taking, des�ruc�ion, or l�ss in Watu��f the Pr�per�y in u�hi�h th�fair market Wa�ue af
<br /> the Proper�y �nzmedzate�y before the par�ial taking, de��ruc�ion, or l�ss in Wa�ue�s Iess�han�h�am�unt of�he
<br /> sums secured imme�liat�ly befor��he par�ial taking, des�ruction, or loss in va�ue, un�ess Borrower at�d
<br /> Lender otherv�is�agr��in wri�ing, the Miscellaneaus Pr�ceeds shall be applied ta the�ums secured by this
<br /> SeCur�ty �n�trum�nt wh�th�r�r not�h�sums are then due.
<br /> �f the Pr�per�� is a�andoned by Bflrraw�r, or if, af�er natice by Lend�r t� B�rr�wer that the�ppasing Party
<br /> �as de�ned �n�he next sentence} offers to make an award to settle a c�aim�.for damages, B�rr�w�r fails to
<br /> re�p�nd to Lender u��thin 3�days after the date�he notice is gi��n, Lender i� authorzze�.���ol��ct and apply
<br /> the M��c�l�aneous Proceeds ei�her ta r�s�oration or repair�f�he Pr�per�y ar ta the sum�secur�d by th�s
<br /> SeCur�t� �ns�rument, vvhe�her or not then due. "�pp�sing Par�y" means th�third par�y that a�ves Borrow�r
<br /> M�sGe��aneou� Proceeds or the party agains��vhonz Bflrrower has a righ�af action in regard�a Misce�ianeous
<br /> Proceeds.
<br /> Barrower shall be in d�fault�f any actian�r proceeding, �rhether civ�l ar crim�nal, is begun tha�, in Lender's
<br /> judgmen�, cauld result in forfeiture of�he Proper�y�r other rnaterial �mpairmen�of Lender's in�erest�n the
<br /> Proper�y�r right�under this Securi�� Instrum.en�. Barrower can cure such a defauit and, if accelerat�an ha�
<br /> oc�urred, re�n�tate as provid�d�n Sec�i�n 19, by caus�ng the actz�n�r proceedin� �o be dism�ssed with a
<br /> ruling that, in Lender's judgam.en�, prec�ude� farfei�ure af�h�Proper�y or�ther ma�erial impairment of
<br /> Lender's interest in th�Proper�y or r�gh�s und�r this Security Instrument. Th�proceeds Qf any a�ard or
<br /> claim for damages that are attribu�ab�e ta the�m�pa�rmen�of Lender's int�rest in the Praper�y are hereby
<br /> assi�ned and shal��e paid�a Lender.
<br /> AlI Miscel�ane�us Praceeds tha�are not app�i�d ta res�arat��n ar repa�r�f the Proper�y shall be applied �n�he
<br /> order provided far in Section 2.
<br /> N�BRASKA-Sir�gIe Farnily-�annie Ma�l�reddi�Mac UN���RM lNSTRUM�NT Fvrm 3d28 1141
<br /> VMP� VMPfi�NE)413D2y
<br /> Wolters Kluw�r Finar�cial 5er�i�e� Page 1❑vf 17
<br />
|