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2� 1 ��4797
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<br /> LC]AN #: 'I 81 fi2�56�Z
<br /> alternatemortgag��nsurerselected by Lende�.Ifsubstant�allyequivalentMortgage Insurancecovera��is
<br /> nat availahl�,Barrower shal�c�ntinue�a pay to Lende�the amount of the separately desEgnated payments
<br /> tha�were due when the insurance c��erage ceas�d to �e in �ifeC�. Lender wil# accept, use and retain
<br /> these payments as a non-�efundalo�e I�ss reserve in lieu af Martga�e Insuran�e. Such lass��s�rve shal�
<br /> be non-refundable, notwithstand�ng the�act that the Loan is ultimately �aid in fuli, and Lender shail not
<br /> be r�quired ta pay Borrow�r any interest or earnings on such Ioss reserve. Lender can na longer require
<br /> I�ss r�sen�� payments Ef Martgage Insu�anc� coverage �in the amount and for the p�rtod that Lender
<br /> requ���s} pro�ided by an insu�er sel��ted by Lender a�ain �ecomes a�ai�a��e, is ab�ained, and L�nder
<br /> requires separate�y d�s�gnated paym�n#s totirvard�he premiums f�r Mortgage Insuran�e.��Lender r�quir�d
<br /> Mo�tgage Insurance as a condition of making the Laan and Borr�wer was requir�d to make separat�ly
<br /> designat�d paym�nts tvward the p�emiums far Morfigage �nsurance, Borrawe� shall pay th� �remiums
<br /> requir�d to maintain Mortgage Insurance in eff�ct, ar ta provid� a non-re�undab�e lass �eserve, unt��
<br /> Lend�r's requirement for Mortgage Insurance�nds in accor�ance wi�h any written agreement be�ween
<br /> Borrawe�and L�nde� providing fvr such te�mination ar untii termina#ian is r�quired by Appiicabie Law.
<br /> Nothing in this 5ection �0 a�feCts Borr�w��'s�b�igat�on#o pay in�erest at the rate pro��ded in the Note.
<br /> Mo�#gage lnsurance reim�urses Len�er tor any enti�y that purchases th�N�te}f�r certain I�ss�s it m�y
<br /> incur if Borrower do�s n�t repay the Laan as agreed. Borrow�r is not a party xfl th� Mqrtgage InsuranGe.
<br /> Mortgag� Insurers evaluate their t�ta! risk on ai� such insuran�e in �orce �rom time to time, and
<br /> may enter into agreements w�th other parties that share o� mad�fy th��r r�sk, ar reduce losses. Th��e
<br /> agreements ar� on terms and �onditions tha� are satis�a��ory ta the mortgage insur�r and the o�her
<br /> parky �ar parkies} �o these agreem�n�s. These ag�e�ments may require the mortgage insurer tn make
<br /> payments using any saurce af funds#hat the morfigage �nsur�r may have avaiiabie �which may include
<br /> �unds abtained from IVlortgage 1 nsurance pr�miums}.
<br /> As a resu�t of these agreements, Lender, any purcha�er of the no��, ano�her insurer, any reinsu�er,
<br /> any �ther entity, or affilia�e nf any of the �oregoing, may �eceive �direc��y or indir�ctiy} amounts that
<br /> �erive from �or mi�ht be characterized as} a portion �f Barrnwer's payments for Mortgage lnsu�ance,
<br /> �n exchange for sharing or modifying the mortgage insurer's rEsk, or reducing iosses. �f such agreement
<br /> provided that an aff�l�ate of Lend�r�akes a shar� af the insurer's risk in exchange for a share of the
<br /> premiums paid to the insurer, �h�arrangement is�ft�n term�d"captive reinsurance." Further:
<br /> �a} Any such agreemen#s wi�l n�t aff�ct the amounts that Borr�wer has agreed to pa� for
<br /> Martgage Insurance,orany otherterms�f�he Loan.Such agreements wi�l nof increase the amount
<br /> Borrov►rer wifl owe for Martgage �nsuranc�, and they wiil not ent�tle Borrower ta any refund.
<br /> �b� Any such agre�ments wi�� not affect the righ�s Bnrrowe� has - if any - with r�spect to
<br /> the Mortgage insurance under the Homeowners Protectian Act of'�998 or any ather�aw. These
<br /> rights may include th� right to r�cei�e certa�n �isc�asures, to reques# and o�tain �ancella�ian
<br /> of the Mortgage lnsurance,t� ha�e the Mort�ag� lnsurance term�nated autamatica�ly, andlor fa
<br /> recei�e a refund of any Mortgage lnsurance premiums that were unearned a#th� time of such
<br /> can�ellation or termination. �
<br /> '�'I. Assignment of Misce��aneaus Proceeds; Ft�rfeiture.All Mrs�efianeous Proceeds are h�reby
<br /> assigned to and shafl b�paid ta Lender.
<br /> If fhe Pr�p�rky is damaged, such IVliscellaneaus Proceeds shai!be app�i�d to r�storation or�epair o�
<br /> the Property, if th� rest�ratian or repair is ecanomiCaliy feasible and L�nder's security �s not less�ned.
<br /> During such re�air and r�storation period, Lender shall have the right to hald such Miscellaneous
<br /> Procee�s until Lender has had an opportunity t� inspect sueh Prop�r�y t� ensure the war� has been
<br /> completed ta Lender's satisfaction, provid�d#hat�u�h inspe�tion shali be und�rtaken promp�ly. Lender
<br /> may pay f�r�he repairs and restoration in a singie disbursement or in a seri�s of progress paymen�s
<br /> as the work is campEeted. Unless an agreement is made in vurr�ing or App�i�able Law requires �nter�st
<br /> to be pa�d on such Miscellaneous Proceeds, Lender shall not be required tv pay Borrvwer any interest
<br /> or earnings on such Miscellanevus Proce�ds. If the restoration or repair is not econvmicaily feasib�e ar
<br /> L�nder's security would be less�ned,the NiEscellan�ous Proceeds sha�!be applied to the sums secured
<br /> by this S�curity Instrument, whether �r nat then due, with the excess, if any, paid to Borrower. 5uch
<br /> Misc�iianeous Proce�ds shall be appl�ed in the order pro�ided for in Sec�ion �.
<br /> ln�he�vent of a tota!taking,destruct�on,or�oss in value of the F'roperty,the�IiscelEaneous Proceeds
<br /> shall �e applied to the sums secured by this Security lnstrument, irvheth�r or not then du�, wi�h #he
<br /> �xC�55, �f any, paid to Barrawer.
<br /> !n the event of a par#ia��aking, destruct�on, or�oss �n �aiue of�he Property in vuhich the fa�r market
<br /> �alue of th� P�aperty immediately be�ore the partial tak�ng, destruc�i�n, or ioss in valu� is equa� to or
<br /> greater than the amflunt af the sums secured�y this Security instrument imm�diately before the partial
<br /> taking, d�struction, or�ass in valu�, unless Borrower and Lender o�herwise agr�e in writing, fhe sums
<br /> secured by this 5ecurity �nstrumen# shall be reduced by the amount of th� Misc��ianeous Proceeds
<br /> multiplied by the following �raction: �a} the tota� amount af the sums secured immediately befor� the
<br /> partialtaking,destruction,vr Ioss in value div�d�d by tb}the�airmarketvalue ofthe P�ope�ty immed�at��y
<br /> before the part�a!taking, destruction, or loss ir� va�ue.Any balanc� shall be paid to Borrawer.
<br /> in the�vent of a par�ial taking, destructian, or ioss in value af the Pr�pe�ty in which the fair market
<br /> value a�the Praperty rmmediately before the pa�tial taking, �estru�tion, or ivss in value is ��ss than the
<br /> lnitiais:
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<br /> NEBRASKA--Single Family--Fannie MaelFreddie�Irlac IiN�FDRIIA IIVSTRUMENT Fvrm 3D28'�IQ�1
<br /> Ellie Mae, Inc. Pag�7 of 1'� NEEDEED 03�5
<br /> NEEDEE❑(CLS}
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