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200110585
<br />Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower
<br />shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect,
<br />at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate
<br />mortgage insurer selected by Lender. If substantially equivalent mortgage insurance coverage is not available, Borrower
<br />shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance
<br />coverage ceased to be in effect. Lender will accept, use and retain these payments as a non - refundable loss reserve in lieu
<br />of Mortgage Insurance. Such loss reserve shall be non - refundable, notwithstanding the fact the the Loan is ultimately paid
<br />in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no
<br />longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender
<br />requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately
<br />designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition
<br />of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage
<br />Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a
<br />non - refundable loss reserve, until the Lender's requirement for Mortgage Insurance ends in accordance with any written
<br />agreement between Borrower and Lender providing for such termination or until termination is required by Applicable
<br />Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<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,
<br />if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect
<br />such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be
<br />undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress
<br />payments as the work is completed. Unless and agreement is made in writing or Applicable Law requires interest to be
<br />paid ov such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not ecenomically feasible or Lender's security would be lessened,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in 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 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 writing,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are
<br />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 Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower
<br />has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as
<br />provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment,
<br />precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this
<br />Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's
<br />interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />NEBRASKA -- Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 3028 3/88
<br />Page 6 Form Software by Automated Real Estate Services, Inc. 1 -800- 330 -1295 BEED / 610pY1�
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