|
2� 1 ��599�
<br /> sat�sfaction, prov ided�hat such inspe�tian sha�1 be under�aken prflr��p�ly. Lender may pa�r for the repa�rs
<br /> and res�oration in a single d�sbursement or�n a ser�es of pr�gress payments as the work is compieted.
<br /> Unl�ss an agreemen� is mad� �n wri��ng or Appl��ab�e Lau� requ�res interest to be paid on such
<br /> M�scellaneous Proceeds, L�nder shal� not be r�qu�r�d to pay B�rrower any �n�eres�or earnings �n such
<br /> M�sc���an�aus Pr�ce�ds. If the restaration�r repa�r is not economicaliy feas�b�e or Lender's se�urity v�fluld
<br /> be�essened, �he M�scei�an�ous Prac��ds shal� be applied to th�sums se�ured b�r th�s Securi�y �ns�rurn.ent,
<br /> whether or not�hen due, w��h th�exc�ss, �f any, paid�� Borrow�r. Such M�sceiian��us Proceeds sha�� �e
<br /> applied in the arder pr��rided for�n Sec��on�.
<br /> . �n th�even��f a�t�tal taking, d�s�ruction, or�oss i�va�ue of�he Proper�y, �he M�scel�ar�e�us Proceeds sha�l
<br /> be appli�d to �he sum.s �ecur��by thxs S�cur��y �ns�rum�nt, whether or not then due, w�th the�xcess, �f any,
<br /> paid ta Borrower.
<br /> �n th�event of a par�iai �aking, destru��i�n, or loss in�alue of the Proper�y in which the fair market vaiue of
<br /> the Praper�y �mmedia�e�y�ef�re the partiai taking, destruction, or��ss �n value �s equa�ta or�r�a�er than�he
<br /> amount of the sums secured by th�s Se�ur�ty �nstrumen� immediate�y before the part�al taking, destructian, or
<br /> l�ss in value, unless Borrawer and Lender other��se agree in wri�in�, the sums ��cur�d by this Se�urity
<br /> �nstrument shall be reduc�d by the amount af�he M�sC���aneaus Pro�eeds mu�t�p�zed by the f����w�ng
<br />. fract�on: �a} the total amount of the sum� secur�d immediate�y befare the part�a�tak�ng, destruc�ifln, or loss
<br /> �n va�ue div�ded by �b} �he fair market value of the Prapert� immediate�y bef�re the partia� tak�ng,
<br /> d�struc�ian, or loss �n va�ue. Any ba�ance shal�be paid t� BarroWer.
<br /> �n the ev�n�of a partial taking, d�struc�ion, or loss in value of the Prflp�r�y �n wh��h �he fa�r mark���alue of
<br /> the Propert� �mmediateiy befare the par�ial tak�ng, destruction, or Ioss in va�ue�s �ess than th� anzount of the
<br /> sums s�cur�d �mmediate�y before the partia� taking, destruction, or�oss �n value, unless Borrower and
<br /> L�nder o�her�vise agr�e �n wri��ng, the M�sc��laneaus Pr�ceeds shall be applied�a the sums secured by �his
<br /> 5ecurity �ns�rum�nt�vhe�her ar na� the sums are�h�n due.
<br /> �f the Praperty is abandoned by Borro�ver, or if, after not�ce by Lend�r�a Barrower that th��pposin� Party
<br /> �as de��n�d �n the next sentence� offers �o make an ati�ard to se�tle a�la�m for damag�s, Barrou�er fails ta
<br /> respond to Lender w�th�n 3�days af�er�he date the notice is given, L�nder is au�hori2ed�o co�lect and appiy
<br /> the Miscellane�us Proc�eds e��her�o res�aratzon or repa�r of th� Proper�y or ta the sums secured by this
<br /> SeCur��y �nstrument, �vhe�her or no� then due. "appos�ng Par�y" means the third part� that owes Barr�tiver
<br /> M�sce��aneaus Pr�ceeds or�he par�y agains��h�m Borrower has a r��ht�f act�on �n regard to M�sce��aneous
<br /> Prace�ds.
<br /> Barr�wer shall be in defau�t if any a�tion or proc�ed�ng, wh�ther ci�i1 or criminal, is begun�hat, in L�nder's
<br /> judgmen�, cnuld resu�t in for�eiture��the Pr�perty or❑th�r ma��ria� �mpairment af Lender's in�erest in the
<br /> Pr�p�rt�r or r��h�s und�r this S�curity Instrument. Barrow�r can cure such a defau��a�ad, �f ac���era��an has
<br /> a�curred, reinsta�e as prav�ded �n �ec��on �9, b� causing the action�r proc��ding to b�dismissed w�th a
<br /> ruling tha�, in Lender's�u�dgm�nt, pr���udes forfe��ure af the Pr�per�y or other material impa�rm�nt�f
<br /> Lender's interes� in th� Property or rights under th�s Secur�ty �ns�rum�nt. The proc�eds af an� award�r
<br /> c�aim for dama�es tha�are at�r�butable to the impairmen�of L�nder'� znter�s� in the Property are her�by
<br /> ass�gned an�i sha�� be pa�d t� Lender.
<br /> AI1 Miscellan�aus Prace�ds that are nat applied ta restarat�an ar repair of the Praperty sha�l be app���d �n the
<br /> order provided far in Section 2.
<br /> NEBRASKA-5ingle�amify-�annie Mael�reddie Mac UNIFqRM fNSTRUM�NT �arrn 3�28'!101
<br /> VMP� VMPfi{NE}��3p2}
<br /> Walters Kluwer Fir�anciaf S�r�ices Page 1 D of 17
<br />
|