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202403013
<br />entitle Borrower to any refund; or (iv) affect the rights Borrower has, if any, with respect to the Mortgage Insurance
<br />under the Homeowners Protection Act of 1998 (12 U.S.C. § 4901 et seq.), as it may be amended from time to time, or
<br />any additional or successor federal legislation or regulation that governs the same subject matter ("HPA"). These rights
<br />under the HPA may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage
<br />Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage
<br />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 receive all
<br />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 damaged, any
<br />Miscellaneous Proceeds will be applied to restoration or repair of the Property, if Lender deems the restoration or
<br />repair to be economically feasible and Lender's security will not be lessened by such restoration or repair. During such
<br />repair and restoration period, Lender will have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to inspect the Property to ensure the work has been completed to Lender's satisfaction (which may include
<br />satisfying Lender's minimum eligibility requirements for persons repairing the Property, including, but not limited to,
<br />licensing, bond, and insurance requirements) provided that such inspection must be undertaken promptly. Lender may
<br />pay for 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 whether Borrower
<br />is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or
<br />restoring the Property, or payable jointly to both. Unless Lender and Borrower agree in writing or Applicable Law
<br />requires interest to be paid on such Miscellaneous Proceeds, Lender will not be required to pay Borrower any interest
<br />or earnings on such Miscellaneous Proceeds. If Lender deems the restoration or repair not to be economically feasible
<br />or Lender's security would be lessened by such restoration or repair, the Miscellaneous Proceeds will be applied to the
<br />sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such
<br />Miscellaneous 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 Value of the
<br />Property. In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds
<br />will be 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 (each, a "Partial Devaluation") where
<br />the fair market value of the Property immediately before the Partial Devaluation is equal to or greater than the amount
<br />of the sums secured by this Security Instrument immediately before the Partial Devaluation, a percentage of the
<br />Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument unless Borrower and Lender
<br />otherwise agree in writing. The amount of the Miscellaneous Proceeds that will be so applied is determined by
<br />multiplying the total amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of
<br />the sums 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 be paid to
<br />Borrower.
<br />In the event of a Partial Devaluation where the fair market value of the Property immediately before the Partial
<br />Devaluation is less than the amount of the sums secured immediately before the Partial Devaluation, all of the
<br />Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not the sums are
<br />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 either to the sums
<br />secured by this Security Instrument, whether or not then due, or to restoration or repair of the Property, if Borrower (i)
<br />abandons the Property, or (ii) fails to respond to Lender within 30 days after the date Lender notifies Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to settle a claim for damages. "Opposing Party" means the third
<br />NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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<br />IDS, Inc. - 93195
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<br />Form 3028 07/2021
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