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`01907019
<br />on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the
<br />amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is
<br />obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender
<br />required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately
<br />designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for
<br />Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such
<br />termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation
<br />to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be
<br />characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the
<br />mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the
<br />insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive
<br />reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or
<br />any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance
<br />under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain
<br />disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated
<br />automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such
<br />cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, .if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity
<br />to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection
<br />shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of
<br />progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires
<br />interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or
<br />earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security
<br />would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in
<br />the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the
<br />sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
<br />amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />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, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the
<br />sums are 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 next 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 Property or to the sums secured by this Security Instrument, whether or
<br />not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against
<br />whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 6 of 10 Initials:
<br />Form 3028 1/01
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