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2� 1 ��7�41
<br /> LQAN#:'�1'I'i 0882T8
<br /> alterna�e rnvr�gage insurer selec��d by Lender.I��ubs�antialiy eq�iWalent Martgage Insurance caverage is
<br /> not a�a�lable,Bc�rrovtr�r sha���antinu�tv p��to Lender the amoun�o�the sep�rately de�igna�ed paymen�s
<br /> fhat wer�due when#h�insurance co�erage cease�to be in effect,L�nd��r�ill accep#,use and retain
<br /> these p�ym�nts as�nan-re�'undabie la�s resenre in lieu vf Mar�ga�e�nsuran��.Such loss reser��shail
<br /> b�non-�efunda�le,notwifihstandin�the fact�hat the Loan i�uftim���ly pa�d in fu�i,and Lender sha�i na�
<br /> �e requir�d to pay Borrvwer any in#�r�s�or earning�on such loss resenre.Lender can nv�onger requir�
<br /> la�s rese�-►�e paymen�s ifi Mvrt�age ln�urance�vuerage�in th��moun�and�or the periad�ha�Lender
<br /> requires}prvvid�d�y an insurer selecfed by Ler�der again becomes a�ailable,is ob�ain�d,and Lender
<br /> requires separa�ely d��igna�ed payments t�ward th�premiums for Mor�gage Insur�n�.�fLender required
<br /> Mor�gage Insuranc�as a conditian af making the Loan and Borro►►ver was require�tv make separately
<br /> d�signated pa�rmen�s towar�d�he pr�miums f�r Mvrtgage Insurance,Bor�awer shall pay the premiums
<br /> requi�-ed to mainta�n Ill�ortgage insurance in ef�ect, �r ta pravide� nan-refundab�e ioss reserv�, unti�
<br /> �.ender's requirement for Mo�tgage lnsur�an��ends�n a�cord�nce wi�h�ny wr��ten agr�ement befi�een
<br /> 6orravirer and Lender�pro�iding for such terminatian or unti�termin�tivn��requ�red by Applicab[�Law.
<br /> Nathing�n ti�is S�c�ion 1�affects Bv�row�r's abligatian to pay�n�ere�t�t th�rate provided in the Nate.
<br /> Nlo�tgage�nsurance reimburses Lender�or any entity�hat purchases�he No�e}�or�e�ain�osses it may
<br /> incur�f Borrower do�s nvt rep�y the Loan as agreed.Bor�awer�s no�a parky ta�he�o�gage Insuran�e.
<br /> �+I�artgag�: Insurers eWa�u�te fheir tatal ris��n �I� such in�uran�e in force frorn �irne to time, and
<br /> may en�e�in�a agreement�vuith other pa�ies�hat s�are o�modi�+their risk,or reduce fo�ses.These
<br /> agreernents are an t�rms and conditians tha�are safisfact�ry to the mar�gage in�urer ar�d the t�th�r
<br /> party�or pa�ties}to thes�agreements.These agre�ments may require�he mortgage insurer to make
<br /> payments using any source af funds that the mortgage insurer may ha�e availa�le�rruhich may in��ude
<br /> �unds abtained frorn Mar�g�ge Insuran�e premiums�.
<br /> A�a re�uf�of fihe�e agreemenfs,Lender,any purchaser�f the note,ano�her insurer,any reinsurer,
<br /> any oth�r entity, a�affi�Ea�� vf any a�the foregoing, ma�r���iv� �d�re�tly tar�ndi��;ct�y} amvunts tha�
<br /> deri�e frvm(�r might be characterized as}�partion of Barro►►ver's payments for M�r�gage Insurance,
<br /> i�exehang�far sharing c�r rnadi�ring the mar�gage insurer's risk,c�r r�duCing 1C]55e5.l�f such�gr�em�n�
<br /> pro�rid�d �ha�an a�f liate of Lender take�a share af the insurer's risk in exchange f�r a share of th�
<br /> premiums�aid�a fihe�nsurer,the arrangement is often t�rmed"cap�i�e�r�insurance."Further:
<br /> �a} �ny suGh agr��ments►�vif� nat affec�th�amounts tha� Barro►r�rer has agr�ed tn pay for
<br /> Mart�age Insurance,or any vther terms o�the Loan.Such agreements will nvt increase th�amoun�
<br /> Borrawer u�►�II owe fnr Mortgage insur�nce,and they wili nat en#itle Bo�ra►r�er tv an�1 re�'und.
<br /> �b� Any su�h ag�reemen#s will not affect�he�-ights go�ro►nrer has-if any�v�r�#h respe��ta
<br /> t�e I1�Qrt��ge lnsurance under�he Ma�eowners Prote��ion Act o��998�r an�vther la�r�r.The��
<br /> righ��s may include th�right to�receive certain disclosures,ta request and❑btain cance�lation
<br /> o�the�ort�age tn�ur�nce,to ha�e th�Mo�gage Insur�nce termi�ated autamatically,andfar t�
<br /> recei►�e a refund c�f any iVlortgage�nsu�anc�premiums that�e�-e unearn�d at the time of�uch
<br /> cancellatic�n ar#erm�nat�on.
<br /> 7"�. AsSignmen�of Mis�e�[ane�us P��ce�ds;�'arfe��ure.Ali f�lis�llaneous Proceeds are hereby
<br /> assigned ta and shal�be paid tv Lender.
<br /> If the Praper'�y is damaged,such�1l�i�cellaneous Prac�eds shall�e app�ied ta restorafiian a�r�pair a�
<br /> the Properfy,�f the restoratian or repair is ecvnomically feasible and Lender's sEcur�ty is nv�lessened.
<br /> Qurin� such repa�r and res�oration period, Lender shal� have the right to hald such Miscel�aneaus
<br /> F�roceeds ur�tif L�nd�r has had an opportur�ity t�a inspec�such Property to�nsure the work has b�en
<br /> camplefied to L�nder's satisfac�ion,pro�ided that such inspection shal�b�undertaken prompt�y.Lender
<br /> ma�pa�for the repairs ar�d restv�at€an in��ingle d�sbursern�n�or in a series o��ragress payments
<br /> as�h�►ruork is comp(ete�. Unless an agre�men�is madE in writing❑r�1pp�icable Law requir�s inte�-est
<br /> fi���paid on such Miscellan�ous Proceed�,Lender shali not be required�o pay Borrower an�in�er�st
<br /> ar��rnings an such Mis�e�laneaus Pro�e�ds.If the res�or�fion vr r�;pair i�nvt�conamically�Feasible or
<br /> Lender's secu�ity would�e lessened,the Mi���1l�neous Praceeds shall be applied�v the sums se�ured
<br /> by th�s S��uri��r�ns�rum�nt,wh�Yher ar nat tl�en due,�nri�h the excess, if�ny, paid�a Borrow�r.Such
<br /> Misce�lan�ou�Praceeds sh�ll be appl�ed in�h�order pr��id�d�or�n Sectian 2. �
<br /> �n the err�nf c��a tat�l�aking,destru�tian,ar Ivss in Walue��the�ro�er�y,the Misceilaneaus Pr��eed�
<br /> �hall be applied ta the surn�secured by�his Security Instrument, whe�her�r not then d�e, �r�+i�h �he
<br /> excess,i�any,Paid t�B�rrawer.
<br /> !n�he e��n�af a par�ial taking,d��truction,or loss in�alu�o�th�Prop�rty in whi�h the�air mark��
<br /> �alue of the Prope�fiy immed�a�ely be�ore the partiai taking,destrucfiivn,a��oss in�a�ue is equal tn vr
<br /> gre���r than the amount v��hE sums secure�by this Securi�y�nstrument immediately he�ore t�e pa�tiai
<br /> taking,d�st�°ucfii�n,ar loss in�alue,uniess Bar�ower and L�nder oth�ruvise agree in writ�ng,the sums �
<br /> s�cur�d by�his Security ins�rument shall be reduced by the amount of the Misc�llaneaus Proceeds
<br /> mu��iplied by�he follvwing frac�ian: �a}#he to��l am�unt of fihe sum��ecured 'tmmed�a�ely before th�
<br /> partial taking,destruction,or Io�s in�alue di��d�d�y�b}the�a��market valu�of the Prvperiy immediately
<br /> b�fore the�a�tial tak�ngr C��'5t�'UG�iQn�Qr��ss in value.Any bal�nce shal�be paid to Borrower.
<br /> In�he e��nt of�parti�!taking,de��ruction,ar foss�r��a[ue o�the Prape�y in which the fair market
<br /> value v�the Prope�y�mm�diate�y before�he part€al tak�ng,d�sfiruction,or Ivss in va�ue is[ t �n�he
<br /> Ini#ials�
<br /> NEBRASKA--Singl�Famiiyw-Fannie MaelFr�ddie I�lac tlNIF(]RN!INSTRUMENT Farm 3�2$'I!0'�
<br /> Ellie Mae,[r�c. Page 7 of 1'! NEEDEEI� �315
<br /> NEEDEED tCLS}
<br /> '1A11212�95 07:48 AM PST
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