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200112763 lu the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property inuncdiatcly before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security lustrumeut immediately before the partial taking, destruction, or loss in value, unless Borrower and I.CIldCr otherwise agree in writint-,1 the sums secured by this Security Instrument shall be reduced by the amount of the N11sccllancuus Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property irnmcdiatcly before the partial taking, destruction, or loss in value is less than the amount of the sums secured iinincdiatcly before the partial taking, dcs(ruc(iou, or loss in value, unless Borrower and Lender otherwise agree in writing, the Misccllaucous proceeds shall be applied to the sunis secured by this Security Instrument whether or not the sums are then due. If the Property is abaudoncd by 1orrower, or it', after notice by Lender to Borrower that the Opposing Party (as defined iu the next srntcuce) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party (flat. owes Borrower Miscellaneous proceeds or the party against whom Borrower has a right of action in regard to Misccllaucous proceeds. Burrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, COUld result in forfeiture of the property or other material impairment of Lender's interest in the Property or rights under this SCCUiily IIISlfrwnii lwl. liorrowcr can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or procccdiug to be dismissed whit it ruling that, in Lender's judgment, precludes forfeiture of the Property or other ttatcrial intpainncut. of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for clattagcs that arc attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid (o Lender. All Misccllaucous Proceeds that arc not applied to restoration or repair of the Property shall be applied in the order provided for in Scc(ion 2. 12. liornni er Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or niodificatiou of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in lutcrest of 1orrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not he required to connncncc procccdiugs against any Successor in Interest of Borrower or to refuse to extend time for payrucnt or otherwise modify anwr(izatiou of the sums secured by this Security Instrument by reason of any demand made by tlwe original Borrower or auy Successors in Interest of 1orrower. Any forbearance by Lender in exercising any right or remedy including, without liniiiatiou. Lcuder's acceptance of payments from third persons, entities or Successors in Interest of 13urrowcr ur in atuutus less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. .Point and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall he joint and several. However, any Borrower who co -signs this Security Instrument but dues nut cxecutc the Noic (a "cu- signer "): (a) is aw- Sigtung this Security Instrument only to mortgage, grant and convey the cu- sigucr's intcrest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or stake any acco Ill uudations with regard to the terms of this Security Instrument or the Note without the co- signer's consent. Suhjcct to Cite provisions of Section 18, ally Successor in Interest of Borrower who assumes Borrower's obligations uwldcr this . Security Iustrun►cn( in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security lustrumeut. 1orrowcr shall not be released from Borrower's obligations and liability under this Security lustruntcnt unless Lender aerccs to such release in writiug. The covenants and agreements of this Security Instrument shall bind (except as provided in Sccliuu 20) and bcuel'ii. the successors and assigns of Lender. la. Loan Chartres. I.euctcr may charge Borrower fees for services performed in connection with Borrower's default, fur the purpose of proicc(Mg, Lcuder's interest in the Property and rights under this Security Instrument, including, but not 1WHICd tu, auururvs' fees, pruperlY inspection stud valuation fees. In regard to any other fees, the absence of express authority in this Sccuriiy lustruntcnt to char,_,c a spccilic fcc to Borrower shall not be construed as a prohibition on the charging of such fcc. Lender iiay not charge fees that arc expressly prohibited by this Security Instrument or by Applicable Law. ll'thc Lean is subject to a law which sets maxirnurn loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan char-oc shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this rcf'uud by rcduciuLI the principal owed under Cite Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will he treated as it partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of auy right ul' action liorrowcr might have arising out of such overcharge. 15. Notices. All uoticcs given by liorrowcr or Lcuder in connection with this Security Instrument must be in writing. Ally notice to Burrower in conucction with this Security Iustrutnent shall be deemed to have been given to Borrower when twilled by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Bo�rrowcr shill] constitute notice to all Borrowers uulcss Applicable Law expressly requires otherwise. The notice address shall he the Property Address uulcss Borrower has designated a substitute notice address by notice to Lender. Borrower shall pronwptly notify Lcudcr of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall on]v report it change of address through that specified procedure. There may be only one dcsiL'natcd notice address under ttus Security Insu-micnt at any one tune. Any notice to Lender shall be given by delivering it or by mailing it by first class nwaii to Lcnctcr's address stated herein unless Lender has designated another address by notice to liorrowcr. Auv notice in conucction with this Severity Instrument shall not be deemed to have been given to Lender until actually rcceivcd by I.cnetir. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable I .aw rcquircinent will satisfy the corresponding requirement under this Security Instrument. 16. Governing Laic; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law oi' file jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument arc suhjea to ntwy rcquirc,ncuts and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it uwight be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shell not al'fcct other provisions of whir Security Instrument or the Note which can be given effect without the cuuflictiwwe provi"ion. As used in this Security Iusirunwcut: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the fcminiuc gender; (h) words in the singular shall mean and include the plural and vice versa; and (c) the Hurd "may" L'ivcs sole (I iSCPCI1011 v,ithout any obligation to take any action. 17. Iorrower's Cop p'. liorrowcr shall be given one copy of the Note and of this Security Instrument. IS. Transfer of Ibe Property or a Iteuelicial Interest in Borrower. As used in this Section 18, "Interest in the Prop. rty" rucaus ally legal or beneficial intcrest iww the Property, including, but not limited to, those beneficial interests trwusfcrrcd itt a hoed for decd, cuwttraci for deed, iustalhnwcut sales contract or escrow agreement, the intent of which is the transfer of title by liorrowcr at a future elate to a purchaser. 11' all or any part of (he Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and it beneficial intcrest ill Borrower is sold or transferred) without Lender's prior written consent, Lender may require ionncdiatc pavntcni iu full of all sums sccurcd by this Security Instrument. However, this option shall not be exercised by Lcuder if such exercise is prohibited by Applicable Law. NLBRASKA Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT orm 3028 1/01 E� !,� 11_ oesi „rn >, hp:_ t Cl d, MN Fors, Mo -1 -NE an 7;zo�,o (page 5 of 7pages)