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202502086
<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
<br />loss reserve, until 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
<br />required by Applicable Law. Nothing in this Section 11 affects Borrower's obligation to pay interest at
<br />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
<br />Mortgage Insurance policy or coverage.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and
<br />may enter into agreements with other parties that share or modify their risk, or reduce losses. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the
<br />mortgage insurer may have available (which may include funds obtained from Mortgage Insurance
<br />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
<br />characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing
<br />or modifying the mortgage insurer's risk, or reducing losses. Any such agreements will not: (i) affect
<br />the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan;
<br />(ii) increase the amount Borrower will owe for Mortgage Insurance; (iii) entitle Borrower to any
<br />refund; or (iv) affect the rights Borrower has, if any, with respect to the Mortgage Insurance under
<br />the Homeowners Protection Act of 1998 (12 U.S.C. § 4901 et seq.), as it may be amended from time
<br />to time, or any additional or successor federal legislation or regulation that governs the same subject
<br />matter ("HPA"). These rights under the HPA may include the right to receive certain disclosures, to
<br />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
<br />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 damaged,
<br />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
<br />such Miscellaneous Proceeds until Lender has had an opportunity to inspect the Property to ensure the
<br />work has been completed to Lender's satisfaction (which may include satisfying Lender's minimum
<br />eligibility requirements for persons repairing the Property, including, but not limited to, licensing,
<br />bond, and insurance requirements) provided that such inspection must be undertaken promptly. Lender
<br />may pay for the repairs and restoration in a single disbursement or in a series of progress payments
<br />as the work is completed, depending on the size of the repair or restoration, the terms of the repair
<br />agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements
<br />directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both.
<br />Unless Lender and Borrower agree in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender will not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If Lender deems the restoration or repair not to be economically feasible or
<br />Lender's security would be lessened by such restoration or repair, the Miscellaneous Proceeds will be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrower. Such Miscellaneous Proceeds will be applied in the order that Partial Payments
<br />are applied in Section 2(b).
<br />(c) Application of Miscellaneous Proceeds upon Condemnation, Destruction, or Loss in Value
<br />of the Property. In the event of a total taking, destruction, or loss in value of the Property, all of the
<br />Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or
<br />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
<br />Devaluation ") where the fair market value of the Property immediately before the Partial Devaluation
<br />is equal to or greater than the amount of the sums secured by this Security Instrument immediately
<br />before the Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the
<br />sums secured by this Security Instrument unless Borrower and Lender otherwise agree in writing. The
<br />amount of the Miscellaneous Proceeds that will be so applied is determined by multiplying the total
<br />amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of
<br />VO1.1.1.31656
<br />NEBRASKA-Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 07/2021
<br />Wolters Kluwer Financial Services, Inc. 02/2025
<br />25.2.0.6137J20250303N Page 9 of 15
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