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202401154 <br />LOAN #: 6624013811 <br />If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required <br />to make separately designated payments toward the premiums for Mortgage Insurance, Borrower will <br />pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss <br />reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agree- <br />ment between Borrower and Lender providing for such termination or until termination is required by <br />Applicable Law. Nothing in this Section 11 affects Borrower's obligation to pay interest at the Note rate. <br />(b) Mortgage Insurance Agreements. Mortgage Insurance reimburses Lender for certain losses <br />Lender may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage <br />Insurance policy or coverage. <br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may <br />enter into agreements with other parties that share or modify their risk, or reduce losses. These agree- <br />ments may require the mortgage insurer to make payments using any source of funds that the mortgage <br />insurer may have available (which may include funds obtained from Mortgage Insurance premiums). <br />As a result of these agreements, Lender, another insurer, any reinsurer, any other entity, or any affiliate <br />of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be character- <br />ized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying <br />the mortgage insurer's risk, or reducing losses. Any such agreements will not: (i) affect the amounts that <br />Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan; (ii) increase the <br />amount Borrower will owe for Mortgage Insurance; (iii) entitle Borrower to any refund; or (iv) affect the <br />rights Borrower has, if any, with respect to the Mortgage Insurance under the Homeowners Protection <br />Act of 1998 (12 U.S.C. § 4901 etseq.), as it may be amended from time to time, or any additional or suc- <br />cessor federal legislation or regulation that governs the same subject matter ("HPA"). These rights under <br />the HPA may include the right to receive certain disclosures, to request and obtain cancellation of the <br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund <br />of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. <br />12. Assignment and Application of Miscellaneous Proceeds; Forfeiture. <br />(a) Assignment of Miscellaneous Proceeds. Borrower is unconditionally assigning the right to <br />receive all Miscellaneous Proceeds to Lender and agrees that such amounts will be paid to Lender. <br />(b) Application of Miscellaneous Proceeds upon Damage to Property. If the Property is dam- <br />aged, any Miscellaneous Proceeds will be applied to restoration or repair of the Property, if Lender deems <br />the restoration or repair to be economically feasible and Lender's security will not be lessened by such <br />restoration or repair. During such repair and restoration period, Lender will have the right to hold such <br />Miscellaneous Proceeds until Lender has had an opportunity to inspect the Property to ensure the work <br />has been completed to Lender's satisfaction (which may include satisfying Lender's minimum eligibility <br />requirements for persons repairing the Property, including, but not limited to, licensing, bond, and insur- <br />ance requirements) provided that such inspection must be undertaken promptly. Lender may pay for <br />the repairs and restoration in a single disbursement or in a series of progress payments as the work is <br />completed, depending on the size of the repair or restoration, the terms of the repair agreement, and <br />whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, <br />to the person repairing or restoring the Property, or payable jointly to both. Unless Lender and Borrower <br />agree in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender <br />will not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If Lender <br />deems the restoration or repair not to be economically feasible or Lender's security would be lessened <br />by such restoration or repair, the Miscellaneous Proceeds will be applied to the sums secured by this <br />Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscel- <br />laneous Proceeds will be applied in the order that Partial Payments are applied in Section 2(b). <br />(c) Application of Miscellaneous Proceeds upon Condemnation, Destruction, or Loss in <br />Value of the Property. In the event of a total taking, destruction, or loss in value of the Property, all of <br />the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether <br />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 (each, a "Partial Devalu- <br />ation") where the fair market value of the Property immediately before the Partial Devaluation is equal <br />to or greater than the amount of the sums secured by this Security Instrument immediately before the <br />Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the sums secured <br />by this Security Instrument unless Borrower and Lender otherwise agree in writing. The amount of <br />the Miscellaneous Proceeds that will be so applied is determined by multiplying the total amount of <br />the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of the sums <br />secured immediately before the Partial Devaluation, and dividing it by (ii) the fair market value of the <br />Property immediately before the Partial Devaluation. Any balance of the Miscellaneous Proceeds will <br />be paid to Borrower. <br />In the event of a Partial Devaluation where the fair market value of the Property immediately before <br />the Partial Devaluation is less than the amount of the sums secured immediately before the Partial Devalu- <br />ation, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, <br />whether or not the sums are then due, unless Borrower and Lender otherwise agree in writing. <br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 07/2021 <br />ICE Mortgage Technology, Inc. Page 9 of 14 NE21EDEED 0222 <br />NEEDEED (CLS) <br />03/18/2024 07:42 AM PST <br />