201502704 - Laserfiche WebLink

Browse

��15��7�4 �a} Any such agreem�nts will n�t af�ect the amounts that Borrow�r h�s agr�d to pay for Mortgage Insuran�e, or any other terms of the Loan. Such agreements wil� nvt in�rease the amvunt Barrower will owe For Mnrtgage Insurance, and they will nat entitle Sorrvvyer to any refund. �b} Any such agreements w�l not affect the r�ghts Borrower has - if any - with respect to the Mortgage Insurance under the Hameowners Pratectian A�t of 1995 or any other law. Th�se rights may include the right to receive cer�ain disclosures, to request and o�tain �ancellation of the Mc�rtgage Insuran�e, to ha�e the Martgage InsuranGe terminated automatically, andlor to receiWe a reFund aF any Mortgage Insurance premuums that were unearned at the ti�me of such cance��ation or termination. 11. Assignrnent of M isce��aneous Proceeds; F�rfeitur�. All Miscellanenus Proceeds are hereb�a�5igned to and sha�� be paid#� Lender. If �e Property is damaged, such Miscella�aus Praceeds shall b� applied �v restoration or repair of the Prape�ty, if #he rest8r�tivn vr repair is e�vnvm�ically feasible and Lender's security is not lessened. Dur�ng such repair and restvration perivd, Lender 5ha11 have the righ� �v hvld such Miscellanevus Proceeds un�il Lender has had an apparturuty to inspect su�h Property ta ensure the wark has been comple�ed to Lender's satisFactivn, pm�ided#hat such inspectian shall be undertaken�rnmptly. Lender may pay f�r t�e repa�irs and restvrativn in a singte di5�ursement ar in a series of pr+agress pa�rnents as the wark is completed. []nless an agreement is made in wri�ng or App�ica�le Law requires interest tia be paid❑n such Mis�ellaneous Pro�eeds, Len�.er shall not b�requir+ed to pay Borrower any inte�st ur eanungs vn such Misce��ane�us Proceeds. If the res�orati�n ar rep��r i� nat ecunvm�c�lly feasible vr Lender's 5ecurit� r�vuld be lessened, the Miscel�anevus Pmceeds shall be a�piied �o the swms secured by this Security Instrv.men�, whet.�r or nvt then due, with the exce�5, if any, paid�a Bvrrvwer. Such Miscellar�vus Pro�eeds sha�i be appl�ed in the vrder pro�ided fnr in Sect�on Z. In �he e�ent af a�vtal taking, des�ructi�n, or lnss in �alue �f#he Prope�ty, xhe MiSc�llaneous Proceeds shall be applied� the sums secured by this �ecurity Instr�xmeni� whether nr not then due, with the excess, if�ny, pa��to Bor�awer. In the e�exYt of a partial ta.king, destructivn, �r ln5s in�alue vf the Property in which the fair market�alu�oF the Praperty immediately before the partial t�ng, d�str�ictivn, �r lvss in�alue is equal� ar greater than�e amount nf#he suxns 5ecured by�his Security Instr�urnent immediately befare the partial �ng, de5tructinn, or l�ss in ��Iue, unless B�rrower and Lender �#herwise a�ree in writing, the sums secure� by th�i5 Security Ins�rument sha�I be reduced by t�e amvunt of the Miscellar��us Proceeds mult�p��d by the follawing fractian: �S� �� aI�lQilrit�f�1� 5iliYl5 5eCU.I�d immediately before the par�ia� taking, destruction, Ur��55 � in value divided by (h} the fair market �alue vf the Prope�ty immediately before the pa�t�iai �king, destructian, ar lvss in�aiue. Any balance shall be�aid ta Borrower. In the ��ent uf a partia� t�ng, destructian, or lvss in va�ue vf the�rope�rty in which the fair market�alu�oF the Pro�ert�immediate�y befnre the partiai taking, destruc�ion, ar Io�S in�alue is less than the amount af the swms secwned immediately before the partial t�ng, destru�t�an, or lvss in value, unl�5s Borrvwer and Lender�therwise agree in writing, #he Miscellane�us Proceeds shall be applied t� the sums s�w�ed by this Security Ins#�iment whether ur not the sums are then due. If the Property is abandone�l by Bornawer, vr if, after nntice by Lender to �nrrower t�at�he 4ppasing Pa�.ty (� defined in the next sentence) �ffers ta rngke an award ta set#le a claim f�r damages, Barrawer fai�s �o respvnd to Lender within 3� days after the date the nnt�ce is gi�en, Lender is authvrized to ��llect and apply the Miscell�neous Proceeds either to restarativn nr repa�ir uf the Prnperty nr to the sums secured by this 001 t24D49745 Cifihank 3.2.91.15 V3 NEBRASKA-Single Fam��y-Fannie M�IFr�ddie Mac�NIFORM fNSTRU�IAENT WITH�AERS Fvrm 3028 1101 VMP� YMPfiA�NE�{13(I2].40 Woiters Kwwer Fnancial Services Page 1 Q o��7