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201605441
<br /> In the event of a total taking, destrudion, or loss in value of the Property,the Miscellaneous Proceeds shall be
<br /> applied to the sums secured by this Security Inskument, whether or not then due, with the excess, iF any, paid to
<br /> Borrower.
<br /> In the event of a partial taking, destructioq or loss in value of the Property in which the fair market value of
<br /> the Property immediately before the partial taking,destruction, or loss in value is equal to or greater than the amount
<br /> of the sums secured by this Security Instrument immediately before the paztial taking, destruction, or loss in value,
<br /> unless Borrower and Lender otherwise agee in writing,the sums secured by this Security Instrument shall be reduced
<br /> by the amount of the Miscellaneous Proceeds multiplied by the following fradion: (a)the total amount of the sums
<br /> secured immediately before the partial taking, desKuction, or loss in value divided by(b)the fair mazket value of the
<br /> Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br /> In the event of a partial taking destructioq or loss in value oFthe Property in which the fair mazket value of
<br /> the ProperTy immediately before the partial taking, destruction, or loss in value is less than the amount of the sums
<br /> secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br /> agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br /> or not the sums aze then due.
<br /> If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the Opposing Party(as
<br /> defined in the ne�ct sentence)offers to make an award to settle a claim for damages, Borrower fails to respond to
<br /> Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br /> Proceeds either to restoration or repair of the Properly or to the sums secured by this Security Instrument, whether
<br /> or not then due. "Opposing Party" means the third party that owes Boaower Miscellaneous Proceeds or the party
<br /> against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br /> Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun thffi, in Lender's
<br /> judgment, could result in forfeiture of the Properry or other material impairment of Lender's interest in the Property
<br /> or rights under this Security Instrumert. Borrower can cure such a default and, if acceleration has occwred,reinstate
<br /> as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
<br /> judgment, precludes forfeiture of the Property or other material impairmert of Lender's irterest in the Property or
<br /> rights under this Security Instrument. 'Ihe proceeds of any awazd or claim for damages that aze attri6utable to the
<br /> impairment of Lender's interest in the Property aze hereby assigned and shall 6e paid to Lender.
<br /> All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br /> order provided for in Section 2.
<br /> 12. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modificazion of amortization of the sums secured by this Security Inshument granted by Lender to Borrower or any
<br /> Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in In[erest
<br /> of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower
<br /> or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security
<br /> Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any
<br /> forbearance by Lender in exercising any right or remedy including, without limitatioq Lender's acceptance of
<br /> payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then
<br /> due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 13. Joint and Several Liability; Casigners;Successors and Assigns Bound. Borrower covenants and agees
<br /> that Borrower's obligations and liability shall be joint and several. However,any Borrower who co-signs this Secwiry
<br /> Instrument but does not execute the Note(a"co-signer"): (a)is w-signing this Security Instrument only to mortgage,
<br /> grant and convey the co-si�er's interest in the Property under the terms of this Security Instrumert; (b) is not
<br /> personally obligated to pay the sums secured by this Security Inskument; and(c)agrees that Lender and any other
<br /> Borrower can agree to e�ctend,modify, forbear or make any accommodations with regazd to the terms of this Security
<br /> Instrument or the Note without the co-signer's consent.
<br /> Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's
<br /> o6ligations under this Security Instrument in writing, and is approved by Lender,shatl obtain all of Borrower's rights
<br /> and benefits under this Security InsVument. Borrower shall not be released from Borrower's obligations and liability
<br /> NEBRASKA—Single Family—Fannie MaelFreddie Mac UNIFORM INSTRUMENT-MERS poqK����
<br /> Foim 3028 1/01 Pege 9 of 15 www.docmagic.rom
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