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200411570
<br />10. Assignment of Miscellaneous Proceeds; Forfeiture. If the Property is damaged, such Miscellaneous
<br />Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such
<br />Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed
<br />to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br />restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is
<br />made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required
<br />to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall 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 Miscellaneous Proceeds shall
<br />be applied in the order provided for in Section 2.
<br />The Miscellaneous Proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which
<br />has priority over this Security Instrument.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has
<br />a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights
<br />under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in
<br />Section 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture
<br />of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The
<br />proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are
<br />hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2,
<br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of
<br />Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse
<br />to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of
<br />any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in
<br />exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or
<br />Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the
<br />exercise of any right or remedy.
<br />12. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants and agrees
<br />that Borrower's obligations and liability shall be joint and several. However, any Borrower who co -signs this Security
<br />Instrument but does not execute the Note (a "co- signer"): (a) is co-signing this Security Instrument only to mortgage, grant
<br />and convey the co- signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated
<br />to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the
<br />co- signer's consent.
<br />Subject to the provisions of Section 17, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall
<br />bind (except as provided in Section 19) and benefit the successors and assigns of Lender.
<br />13. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's
<br />default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, as allowed
<br />Initials:
<br />Nebraska Deed of Trust - Single Family-Secondary Lien Form 3801 01/01
<br />—The Compliance Source, Inc. -- Page 7 of 11 14141NE 10001
<br />www'compp4isncoacums.com 02001, The Compliance Soums, Inc.
<br />ITEM 26227L7 (0204) 330174
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