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202401964
<br />LOAN #: 6624013943
<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 />(d) Settlement of Claims. Lender is authorized to collect and apply the Miscellaneous Proceeds
<br />either to the sums secured by this Security Instrument, whether or not then due, or to restoration or repair
<br />of the Property, if Borrower (i) abandons the Property, or (ii) fails to respond to Lender within 30 days after
<br />the date Lender notifies Borrower that the Opposing Party (as defined in the next sentence) offers to settle
<br />a claim for damages. "Opposing Party" means the third party that owes Borrower the Miscellaneous Pro-
<br />ceeds or the party against whom Borrower has a right of action in regard to the Miscellaneous Proceeds.
<br />(e) Proceeding Affecting Lender's Interest in the Property. Borrower will be in Default if any action
<br />or proceeding begins, whether civil or criminal, that, in Lender's judgment, could result in forfeiture of the
<br />Property or other material impairment of Lender's interest in the Property or rights under this Security
<br />Instrument. Borrower can cure such a Default and, if acceleration has occurred, reinstate as provided in
<br />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
<br />rights under this Security Instrument. Borrower is unconditionally assigning to Lender the proceeds of any
<br />award or claim for damages that are attributable to the impairment of Lender's interest in the Property,
<br />which proceeds will be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or
<br />repair of the Property will be applied in the order that Partial Payments are applied in Section 2(b).
<br />12. Borrower Not Released; Forbearance by Lender Not a Waiver. Borrower or any Successor
<br />in Interest of Borrower will not be released from liability under this Security Instrument if Lender extends
<br />the time for payment or modifies the amortization of the sums secured by this Security Instrument.
<br />Lender will not be required to commence proceedings against any Successor in Interest of Borrower, or
<br />to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Secu-
<br />rity Instrument, by reason of any demand made by the original Borrower or any Successors in Interest
<br />of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation,
<br />Lender's acceptance of payments from third persons, entities, or Successors in Interest of Borrower or
<br />in amounts less than the amount then due, will not be a waiver of, or preclude the exercise of, any right
<br />or remedy by Lender.
<br />NEBRASKA -Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 07/2021 (rev. 7/23)
<br />Modified for FHA 1/2023 (HUD Handbook 4000.1)
<br />ICE Mortgage Technology, Inc. Page 9 of 14 NEEFHA23DE 0823
<br />NEEDEED (CLS)
<br />05/01/2024 08:01 AM PST
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