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<br /> 2� 1 ���225 �
<br /> L�AN#: �'I'I�8078
<br /> alternate mortgage insurer select�d by Lender.if substantEally equ�va�ent fUlartgage�nsurance co�erage is
<br /> not a�ailable,Borrower shall continue�o pay tn Lender the amvunt of the separately designated payments
<br /> that were du�when the insuranc� coverage ceased to be in effect. Lender wil� acc�pt, us� an� retain
<br /> these payments as a non-refundable loss r�serv�in lieu af Mo�tgage Insuranc�. Such Ioss reserve shall
<br /> be non-refundable, notwithstanding the fact that the Laan is ult�mately pa�d in fuf�, and L�nd�r shal� not
<br /> be requir�d ta pay Borrower any interest or�arnings on such loss rese�ve. Lend�r can no��nge�r�qu�re
<br /> �oss reserve payments if Mortgag� I nsurance co�erage �in the amount and for the period that Lender
<br /> requires} provided by an insurer sel�cted by Lender again b�comes a�ai�able, is obtained, and L�nder
<br /> requires separately designat�d paym�nts toward th�premiums for Martgag�Insurance.�f Lender required
<br /> Martgage lnsurance as a condition vf making the Loan and Sorrower was �equired to make se�ara��ly
<br /> designated payments toward the premiums for M�rtga�e �nsuranee, �orrowe� shall pay the premiums
<br /> required t� maintain fUlflrtgage Insurance in eff�ct, or �� prv�ide a non-refundable loss reserve, until
<br /> Lend�r's requirement far Mortgage Insurance ends in accordance with any written agreement befinr�en
<br /> Barrower and L�nder pra�iding �or such terminafion or unf�l termination Es requ�red by Applicable Law.
<br /> Nothing in this Section 10 affects Borrower's obli�ation to pay �nter�st at the �ate prv�ided in the Note.
<br /> 1111ortgage lnsuran�e reimhurses Lend�r�or any entity that purchases the Note}for certa�n loss�s it may
<br /> incur if Borrawer�oes n�t repay the Loan as ag�eed. Sorrower is not a par#y to�he Mortgage Insu�anc�.
<br /> Mortgage �nsurers e�aluate their total risk an all such insurance in for�e from time to time, and
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<br /> may enter info agreements with other parti�s tha� share or madify their risk, or reduc� Iosses. Th�s� !
<br /> agre�ments are on terms and conditions that are satisfactary fv the mortgage insurer and the othe�
<br /> party �ar parties} to these agreements. Thes� agreements may r�qu�r� the mortgage insurer to make
<br /> payments using any source of funds that the mvrtgage insurer may ha�e a�ailable�which may include
<br /> funds flbtained ��om Mortgage lnsurance pr�miums}.
<br /> As a result of these agreements, Lender, any purchaserof�he note, another insurer, any r�insurer,
<br /> any oth�r �ntity, ar affiliate of any of th� foregoing, may receEve �drrectly o� indirectly} am�unts that
<br /> d�rive frvm �or might be characteriz�d as} a pa�#ion of 8orrow�r's paym�nts for Mortgag� Insurance,
<br /> in exchange far sharing or modifying the mvrtgage �nsurer's risk, or reducing fosses. If such a�reem�nt
<br /> pra�ided that an aff�liate of Lender takes a share of the insu�er's risk in exchange far a share of the
<br /> premiums paid to the insurer, th�arrangem�nt is often termed "�aptive reinsurance." Furthe�:
<br /> �a} Any such agreements will no� affeet the amvunts that Borrovuer has agreed tv pay �ar
<br /> lUlortgage Insurance,or any other terms of the Laan.Such agreements wil�not increase the amount
<br /> Borrvwer will owe far Mortgage Insurance, and they will nat entitle Borrower ta any refund.
<br /> tb} Any such agreements uvill not affect the rights Bvrrvvuer has - if any - with respect tv
<br /> the Mnrtgage Insurance under the Homeovuners Prvtectivn Act❑f 1�98 ar any other lavu. These
<br /> right� may inciude the right to r�cei�e certain disc�osures, to request and obtain �ancellation
<br /> of the fVlortgage Insurance, to haWe th�Martgage Insurance terminated automatically, andlar tv
<br /> recei�e a r�fund of any Mor�gage �nsurance premiums that vuere unearned at the time af su�h
<br /> canceilation or terminati�n.
<br /> �1. Assignment af Miscellaneous Proceeds; Fvrfei�ure.All Miscellaneous Proceeds are her�by
<br /> assigned ta and shal! be paid to L�nder.
<br /> If th�Property is damag�d, such Miscei�aneaus Proc��ds shal!be applied to rest�ration or repair af
<br /> the Property, if the restoratian or repaEr is economical�y feasible and Lender's security is not lessen�d.
<br /> During sueh repair and r�st�ration p�riod, Lender shall have the right ta hoid such Miscellaneous
<br /> P�oceeds un��� Lender has had an opportunity to inspe�t such Praper#y fo ensure the wo�k has been
<br /> completed to Lender's satisfaction, pro�id�d that such inspection shall be undertaken �romptly. Lender
<br /> may pay far the repairs and restoration in a single disbursement ar in a series of progress payments
<br /> as the wflrk is Comple�ed. Unless an agreement is made in w�iting or Applicab�e Law requi�es inferest
<br /> t� be paid vn such Misc��lan�ous Pro�eeds, Lend�r shall not be required t�pay Borrower any interest
<br /> v�-earnings on such Misc�llanevus Proceeds. �f the restoration or repair is nvt e�onom�ca[ly f�asible or
<br /> Lender's s�curity would be�ess�ned,the Misceilaneous Proceeds shaii be applied#o the sums secured
<br /> by this Security lns�rument, wh�ther or not then due, with the exce�s, if any, paid to Borrovue�-. Such
<br /> Misc���an�ous Prviceeds shall be app�ied in the order pro��ded for in Sect�on Z.
<br /> �n the event of a total tak�ng,destrucfion,o�Ioss in�alue v��he Praperty,the Misce��aneous Proc��ds
<br /> shall be applied to the sums secu��d by this �ecurity Instrument, whether or not then du�, with th�
<br /> excess, if any, pa�d tv S�rrvwer.
<br /> En the e�ent of a partial takEng, destruction, or Ioss in �a1ue of th� Property in which the fair market
<br /> �afue vf the Property tmmediafeiy befvr� the partia� taking, d�struction, or Ioss in �alue is equal to or
<br /> greafer than the amount of the sums secured by this SeGur�ty Instrument immediately before the partia�
<br /> taking, destru�tion, or Ioss in �alue, unless Bvrrower and Lender vtherwise agree in writing, the sums
<br /> secured by this Securi�y instrument shalf be redu�ed by fhe amount of the Miscellanevus Proceeds
<br /> multipli�d by the �ollowing fracti�n: �a} the tvta� amvunt of the sums secured immediateiy �efore the �
<br /> partial taking,destructian,or I�ss in�a�ue di�ided by�b}�he fair market�alue of th�P�ope�ty immediately '
<br /> befa��the partial taking, destruction, or loss in value.Any balance shall be paid to Borrower.
<br /> ln the��ent of a partia!taking, destru�tion, or I�ss En value o#the Property in whi�h the fair market
<br /> �a�ue o�the PrQperty immediately b�fore the partial taking, des#ruction, ar loss in�a�ue is iess than the
<br /> NEBRASKA--Single Family--Fannie MaelF�eddie IVlac UNIFORM INSTRUMENT Form 3028'1101
<br /> E11ie Mae, Inc. Pag�7 of�1 NEEDEED �315
<br /> NEEDEED�CLS}
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