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<br /> L�AN#: 1 f�D51511
<br /> aiternate martgage insurer sele�ted by L�nder.�f subs�antiaf�y equiva��nt Mortgage�nsurance coverage is
<br /> nat available,Borr�wer shall cantinue�a p�y ta Lender the amount of th�separately d�signa�ed payments
<br /> that were due when the insurance caverage cea�ed to be in eff�ct. Lende�will a���pt, use and retain
<br /> th�s�payments as a n�n-refundable Ioss res�rve in lieu of Mortgag�Insuranc�. �uch 1Qss r�s�rv�shali
<br /> �� nan-r�fundabie, notw�thstanding the fact�hat the Loan is ultimately paid in full, and L�nder�h��l not
<br /> be required to pay Borrower any infi��es�ar earnings on su�h I�ss reserv�. Lender�an n�Ionger require
<br /> Ioss reserve paym�nts if �lilortg�ge Insurance �overage ��n the amount and for�he period that Lender
<br /> requir�s} pr��ided by an �nsurer select�d by Lender again b�cornes avaiiabie, i�o�tained, ar�d Lend��
<br /> requ�r�s separa���y des�gna�ed paym�nts�o�vard the pr�miums far Mvr#gag�lnsuranc�.�f Lender r�quir�d
<br /> IIIlor#�age �nsuranc�as a c�ndit�on af ma�k�ng the Laan and ��rrvw�r�vas required �� rnak� s��arately
<br /> d�signated payments tov�rard the prem�ums for Martgag� Insurance, B�rr�wer sha�l �ay the �r�miums
<br /> �equ�r�d ta main#ain Martgag� Insuranc� in ef�ect, v� fiv pro���e a nan-refund�ble los� res�rv�, until
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<br /> L��der's r�quiremen�for N1�rtgage Insuranc��nds in accordan�e with any�►rifiten agreem�nfi��twe�en
<br /> Borror��r and L�nder praviding for such terminatian or until ���minat�an is r��quired by Appiic�ble Law.
<br /> Noth�ng in�his Se��i�n 1�afFe��s B�rrawer'�ob�igation�a pay in��rest at�he rate �rovided in tF�e Not�.
<br /> Mor�gage lnsurance reim�urses Lend�r�or any entit�l�t�at pur�hases th�Not�}for certain�oss��i#may
<br /> incur�f 8or�awer dves n�t r�pay th�Laan as agreed. Barrawer is nat a party�o the Mortga�e�nsurance. ;
<br /> �Ill�rt age Insur�rs evalua�� their tatal risk an all �uch insuran�� in f�rce f�om t�me �o tim�, and '
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<br /> may �n�er into agre�ments �vith o�h�r part�es that shar� ar madify the�r risk, �r reduce 1vss�s. These
<br /> agreements are on terms and canditi�ns that are satisfac�ary to �he mor#gage insurer and the oth�r
<br /> party �or parties� t� these agreem�nts. Th�s� agr�ements may requir� �he mortgag� insur�r t� make
<br /> paymen#s using any sflur��of funds tha�the mort�age insur�r may have avaiiab�� �which may inciude
<br /> funds obtained fram Mortgage �nsurance �remiums}. ,
<br /> As a r�sult of these agreem�nts, L�nder, any purchaser of#he n�te, anoth�r insurer, any r�insurer,
<br /> any �ther entity, vr afF�liate of any of the f�regoing, may recei�e �direc�ly ar ind�rec�iy} amounts that
<br /> d�rive from �or migh# b� ch�racterized �s} a portion of Bor�o►�ver's payments for Mortgage Insuran�e,
<br /> in �xchange f�r sharing or m�difying the mortgage insurer's�isk, ar�educing Iosses. �f such agreem�n�
<br /> pro�ided that an aff�liate vf Lend�r takes a �hare of the insurer's risk in exchange for a shar� of�he
<br /> premiums pa�d t�the insu�er, the arrar�g�men�is often termed "�apti�e �einsurance." Further:
<br /> �a� Any su�h agreements wi�l nat affect the amounts that B�rrower has �greed to pay for
<br /> �ortgage Insurance,�rany atherterms�f the L�an.Such agreements wi�l n�t in�rease the amvunt
<br /> Borrawer►nr�fi owe for IlAortgage lnsuran��, and the��►��I not�nt�tle Borrawer t�any refund.
<br /> �b� Any such agre�ments will nat �ife�t the rights Borrornrer has - if any # with res���t to
<br /> the ItiAartgage lnsurance under the Homeo►n►n�rs Prvtection Act�f�998 or�n� other law. These
<br /> rights may �nclude the right t� recei�re certain disclosur�es, to request and obtain canc��lation
<br /> af the Illl�rtg�ge lnsuranc�,to hav�the �vrtgage Insuran�e terminated �utomati�ally, andlor t�
<br /> recei�e a refund af any Al�ortgage Insurance premiums that were unearned at the time af such
<br /> �ancei�at�on or termination.
<br /> '�'�. Assignment of Misce�lan�aus Prvc�eds; F�rfe�ture.AI�Miscellan��us Proceeds a�e hereb�
<br /> ass�gned to and shall be paid tv L�nder.
<br /> 1f th�Property�s da�maged, such Mis�el�an�ous Proceeds shail be applied��res��ratiQn ar repa��r of
<br /> the Property, �f the r�storati�n or repair�s�conamica�ly��asibi�and Lender's s�curity is no�lessened.
<br /> During such repa�r and restorativn perEad, Len�e� shall ha�e the right to hold such Miscellaneaus
<br /> Proceeds unti! Lender ha� had an opportunity �o �nspect such Prap�rty t� �nsur� the v�rark has been
<br /> completed�a Lender's sat�sfact��n, provided that such inspect�on shall be und�rtak�n pramptly. Lender
<br /> may pay far th� repairs and res��ra�i�n in a sing�� disbursement ar in a series �f progress payr�nents
<br /> as the w�rk is completed. �Jnless an agreemen� is made in writing or Appiica�le Law requires inter�st
<br /> tQ be paid on such Misce�laneou� Proc��ds, Lende��hal� not�� required to pay �3arrow�r any interes�
<br /> or earnings an such M�scellanevus Prace�ds. If th� r�stara�i�n or repa�r is n��econamically f�asibl��r
<br /> Lender's s�cur�t�w�u1d be I�ss�ned,�he Misc�ilaneaus Pro��eds sha�1 be�ppiied ta the sums secured
<br /> by thts �e�u�i�y lnstrum�nt, �rhether �r not #hen due, �►ith �he �xcess, if any, paid #o B�rr�v�er. �uch
<br /> Misceilane�us Pro�eeds sha�l ��applied in the o��er provided far in Section �.
<br /> In thee��n��fatataltaking,destru�tion,�rioss in�alue ofthe P��p�r#y,the Misce���nevus Pr�c�eds
<br /> shail be ap�lied ta the sums secured by #his Securi�l Enstrument, whe�her ar not then du�, v�ith �he
<br /> excess; if any, paid �o Borrow�r.
<br /> In �he ��r�n��f a par��ai takin�, des�ruction, or��ss in �alu�of the Prvpert� �n which �h�fair marke�
<br /> �alu� of the Praperty immediately ��fvr� �h� partia� takin�, destruction, or lass in �alue is �qua� ta �r
<br /> �rea�e�than the amount af#he�ums secur�d by this���urity �nstrument imm�d�atel� befor�th�p�rti�l
<br /> taking, des#ruc#i�n, or iass in value, unless Borraw�r and Lend�r oth�nn►�se agree in writing, th� sums
<br /> secured by �his �ecu��ty �nstrumen# shall b� re�uced by �h� amount of th� Misc�lian�ous Proceed�
<br /> mul�iplied by the fallawing fr�ct��n: �a} �h� t�ta{ amoun� af the sums secured immed�a�ely be�ore the
<br /> part�al�aking,d�s#ruc�i�n,o�IQss in va�ue divid�d�y�lo}thefairmarketval�e ofthe Prop�rty imm�diately
<br /> bef�re th� partia�taking, de��ru�tion, or Ioss in value.Any balance shal� be paid t� Barrower.
<br /> In the even�of a partial�aking, d�stru�tion, or lass in value of th� Praperty �n whiCh th�fair m�rket
<br /> value of the Property imm�diately before the partia�taking, destruct�an, �r loss in value i less:�h �he
<br /> Initials: �
<br /> NEBRASKA--Single Family--Fannie Il�aelFredd�e hNac UN�FaRIIA IN5TRU1lAENT Form 3028 11�'� �
<br /> E11ie Mae,1nc. Pa�e 7�f�'1 NEEDEEQ ❑3�5
<br /> NEEDEED�CLS}
<br /> 02/29/2016 D�:Sfi PM PST
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