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200401682 LOAN #: 2232012
<br />board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have
<br />utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under
<br />any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this
<br />Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security
<br />Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires
<br />fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the
<br />premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by
<br />Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain
<br />coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to
<br />Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially
<br />equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately
<br />designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />payments as a non - refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non - refundable, notwithstanding
<br />the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such
<br />loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period
<br />that Lender 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 of making
<br />the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower
<br />shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non - refundable loss reserve, until Lender's
<br />requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for
<br />such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay
<br />interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does
<br />not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with
<br />other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to
<br />the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make
<br />payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage
<br />Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the note, another insurer, any reinsurer, any other entity, or affiliate
<br />of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of
<br />Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses.
<br />If such agreement provided that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid
<br />to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any
<br />other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they
<br />will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under
<br />the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures,
<br />to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically,
<br />and /or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid
<br />to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration
<br />or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have
<br />the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has
<br />been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs
<br />and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made
<br />in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower
<br />any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security
<br />would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then
<br />due, with 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 applied to the sums
<br />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 Property
<br />immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this
<br />Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree
<br />in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied
<br />by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value
<br />divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance
<br />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 Property
<br />immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before
<br />the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the
<br />next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the
<br />date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the
<br />NEBRASKA -- Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Initials:
<br />Form 30281/01 Page 5 of 8 NEUDEED
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