201506702 - Laserfiche WebLink

Browse

��1 5�67�� �a} An�such agre�rnents will nQt affeGt the amvunts�hat Borrower has a�r�ed to pay for Mortgage Insurance, or any other terms of the Loan. 5uch agreements will not increase the arnount Barrower wi11 owe for Martgage Insurance, and they will not entitle Borrower to any refund. {b} Any such agreements will not affect�he rights B arrow�r has-if any-with respect to the Martgage Insurance under the Hameowners Prvtection Act of�998 ar any other law. These rights may include the r��h�to recei�e c�rtain disclo�ures,ta request and abtain cancellatian vf the Mortgage Insurance, to have the Martga�e Insurance terminated automatically, �.ndlor to receive �refund af an�Mortgage Insurance prerniums that were unearned at the time of such cancellation�r termination. 11. Assignment of Miscellaneous pr�ceeds; F�rfeiture.All Miscellaneous Proceeds are hereby assi�ned to and sha.Il be paid to Lender. �f the Property is damaged, such Miscellaneaus Prviceeds shall be applied to restoration or repair of the Property,if the restvration or repair is�conomically feasible and Lender's se�urity is not lessened. During such repair and rest�ration period,Lender sha11 ha�e the right to hold such Miscellaneous Proceeds until Lend�r has had an apportunity��inspect such Property to ensure th�wark has been cvmpl�ted ta L�nder's satisfa�tion,pro�ided that such inspe�ti�n sha11 be under�aken promptly. Lender may pay for the repazrs and restoration in a single disbursemen�ar in a series of pro�ress payments as the work is comp�eted. Un�ess an agreement is made in writing or Applicable Law requir�s inter�st to be paid on su�h Miscellaneous Proceeds, Lender shall not be required to pay Barrower any interest or earnings on such Miscetlaneous Proc�eds.If th� restoration or repair is not e�onamically feasibie�r Lender's security v�vuld be lessen�d,the Miscellaneaus Proceeds shall be applied to the sums secured by this Seeurity Instrument, whether vr nat then due, with the excess,if anya paid to�orrower. Such Miscellaneous Prviceeds sha11 be applied in the order pro�ided for in Section 2. �n th�event vf a tatal�aking,destruction,ar loss in�alue of the Praperty, the Miscellaneous Prflceeds sha11 be applied�a the sums secured by this Security�nstrument,whether�r nat then due,with the excess, if any, paid t�Borrovv�r. In the e�en�of a partial taking,destruction, ar loss in�alue vf the Property in which the fair market value of the Property immediately b�fore the partial taking,d�s�ructian, or Ioss in�alue is�qual ta or greater than the amount of t�e sum�secured by��is Security In�trurnent 3mmediate�y bef�re the partia�ta�ng,destruct��n,or loss rn Walue,unless B�rrower and Lender atherwise agr�e in writing,the sums secured by this 5ecurity Instrument shall be reduced by the amaunt af the Miscel�aneaus Frace.�ds multiplied by the fallowing �ractian: (a�the total arnount of the sums secured immediately before the partial taking, destruction,or loss in value divided by �b}the fair market value of the Praperty immediateiy befnre the par�ia�taking, destructian, or loss in�alue. Any balance shall be paid to Borrov�er. In the e�ent of a partia�taking,des�ruction, or loss in�alue vf the Property in whi�h�he fair market�alue of the Prvp�rty immediate�y be�ore the partia�ta�ing,destruct�on, or�oss�n va�ue�s�ess thar�the amQunt of the sums secured immediate�y befare the partial taking,des�ructian,or loss in value,unless Borrower and �.,ender otherwise agree in writing,the Miscellaneous Proc�eds sha11 be app�ied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, af��r notice by Lender to Borrower that the Qpposing Party �as defined in�he ne�t sentence}offer�to make an award to settle a claim for damages,Barrower faits ta respand ta Lender within 3�days after the date the notice is gi�en,Lender i�authorized to collect and apply the�Irliscel�aneaus Proeeeds ex�her�o restoration or re�air Q�the�rQperty Qr to th�sums secured b�this 159�66753 �Q921Q47�4 NEBRASItA-Singla Family-Fannia MaelFrsddie Mac L1HtFURM 1N5TRUMENT WiTH�III�RS Form 3028 1101 VMP B VMPfiA[NEj�13a2�.�Q Wniters Kiuwar�inancial 5ervices Page��0 17 .� i t