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2� 17� 1775
<br /> pay the premxums requxred ta maxntaxn Martgage Insurance xn effect, ar ta pra�xde a nan-refundable lass
<br /> reser�e, until Lender's requxrement far Martgage Insurance ends in accardance wxth any wr�tten agreement
<br /> between Barrawer and Lender pra�zdzng far such terminatian ar until terminatian is required by Applicable
<br /> Law. Nathzng zn this Sectian �D affects Barrawer's abligatian ta pay znterest at the rate pravided in the Nate.
<br /> Martgage Insurance reimburses Lender (ar any enti�y that purchases the Nate� far certaxn lasses it may
<br /> incur if Barrawer daes nat repay the Laan as agreed.Barrawer xs nat a party ta the Martgage Insurance.
<br /> Martgage insurers evaluate thezr tatal risk on all such znsurance zn farce from tzme ta time, and may enter
<br /> inta agreements with ather partzes that share ar mad�fy the�r risk, ar reduce lasses. These agreements are on
<br /> terms and canditians that are satisfactary ta the martgage insurer and the ather party (ar parties� ta these
<br /> agreements. These agreements may requzre the martgage �nsurer ta make payments usxng any saurce af funds
<br /> that the mortgage insurer may have available (whi�h may �n�lude funds obtained from Mo�gage Insuran�e
<br /> premiums�,
<br /> As a result af these agreements, Lender, any purchaser af the Nate, anather insurer, any rexnsurer, any
<br /> ather enti�y, ar any aff liate af any af the faregaing, may recez�e (directly ar indirectly� amaunts that deri�e
<br /> fram (ar mxght be characterized as� a partian af Barrawer's payments far Martgage Insurance, in exchange far
<br /> sharing ar madifying the martgage insurer's risk, ar reducing Iasses. If such agreement pr��xdes that an
<br /> aff�liate af Lender takes a share af the insurer's risk in exchange far a share af the premiums paid ta the
<br /> insurer,the arrangement is aften termed"capti�e reinsurance."Further:
<br /> �a} Any such agreements wi�� not affect the amounts that Borrower has agreed to pay for Mortgage
<br /> Insurance, or any other terms of the Loan. Such agreements wi�� not increase the amount Eorrower will
<br /> owe for Mortgage Insurance,and they will not entitxe Borrower to any refund.
<br /> (b} Any such agreements wiZZ not affe�t the rights �3orrower has - if any - with respect to the
<br /> Mortgage Insurance under the Homeowners Protection Act of 1998 or any other xaw. The�e rights may
<br /> include the right to receive certain di�closures, to request and obtain cancellation of the Mortgage
<br /> Insurance, to have the Mortgage Insurance terminated automatica�xy, andlor to receive a refund of any
<br /> Mortgage Insurance premiums that were unearned at the time of such cance��ation or termination.
<br /> 11. Assignment of M�scexxaneous Proceeds; Forfe�ture. All Miscellaneaus Praceeds are hereby assigned
<br /> ta and shall be paid ta Lender.
<br /> �f the Praperty is damaged, such Miscellaneaus Praceeds shall be applied ta restaratian ar repair af the
<br /> Praper�y, if�he restaratian ar repair is ecanamically feasible and Lender's securi�y is na� lessened. During
<br /> such repair and restaratian periad, Lender shall ha�e the right ta hald such Miscellaneaus Praceeds until
<br /> Lender has had an appartuni�y ta inspect such Praperty ta ensure the wark has been cample�ed ta Lender's
<br /> satisfac�ian, pra�zded �hat such znspectian shall be undertaken pramp�ly. Lender may pay far the repairs and
<br /> restara�ian in a single d�sbursement ar in a series af pragress paymen�s as �he wark is campleted. Unless an
<br /> agreemen� is made �n writ�ng ar Applicable Law requires in�eres� �a be paid an such Miscellaneaus Praceeds,
<br /> Lender shall nat be required ta pay Barrawer any interest ar earnings an such M�scellaneaus Praceeds. If the
<br /> restaratian ar repair is nat ecanamically feasib le ar Lender's securi�y wauld be lessened, the Miscellaneaus
<br /> Praceeds shall be applzed ta the sums secured by this Securi�y Instrument, whether ar nat then due, wzth the
<br /> excess, if any, paid ta Barrawer. Such Miscellaneaus Pr�ceeds shall be applied in �he arder pra�ided far in
<br /> Sectian 2.
<br /> In the e�en� af a �a�al �aking, destruc�ian, ar IQ55 in �alue af�he Praper�y, the Miscellaneaus Praceeds
<br /> shall be applied �a the sums secured by �his Securi�y Ins�rumen�, whether ar na� then due, with �he excess, if
<br /> any,paid�a Barrawer.
<br /> In the e�ent af a part�al taking, des�ruct�an, ar lass �n value af the Prape�-�ty in which the fair market value
<br /> af the Praper-ty immediately bef�re the partial tak�ng, destructian, ar Iass in �alue is equal ta ar grea�er �han
<br /> the amaunt af the sums secured by �his Securi�y Instrumen� immedia�ely befare the partial �aking, destruc�ian,
<br /> ar lass in �alue, unless Barrawer and Lender atherwise agree in wri�ing, the sums secured by this Securi�y
<br /> Ins�rument shall be reduced by the amaunt af�he Miscellaneaus Praceeds multiplied by the fallawing fractzan:
<br /> (a� �he tatal amaun� af the sums secured immediately befare the partial taking, des�ruc�ian, ar 1Q55 in �alue
<br /> di�ided by (b� �he fair marke� �alue af the Praperty immediately befare the partial �aking, des�ructian, Qx IQ55
<br /> in�alue. Any balance shall be paid�a Barrawer.
<br /> In the e�en� af a partial �aking, destructian, ar lass in �alue af�he Praper-ty in which �he fair marke� �alue
<br /> af the Praperty immediately befare �he partial �aking, destructian, ar �Q55 in �alue zs Iess than the amaunt af
<br /> the sums secured immediately befare the par�tial taking, destructian, ar lass in �alue, unless Barrawer and
<br /> Lender a�herwise agree in wri�ing, the Miscellaneaus Pr�ceeds shall be applied ta �he sums secured by �his
<br /> NEBRASKA-Single Family -Fann�e Mae�Fredd�e Mac L1NiF�RM iNSTRLIMENT
<br /> Form 3�28'i��'i
<br /> �
<br /> Laser Farms ln�.{8fl0}446-3555 .�
<br /> LFI#FNMA3�28 91�� Pag���.�I� In ItlalS: •
<br /> �
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