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200412054
<br />16600699
<br />(b) Any such agreements will not affect the rights Borrower has — if any — with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may
<br />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
<br />Mortgage Insurance premiums that were unearned at the time of such cancellation or termination.
<br />IL Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br />Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such
<br />repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds wild Lender has
<br />had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a
<br />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
<br />required to pay Borrower any interest or earrings on such Miscellaneous Proceeds. if the restoration or repair is
<br />not economically feasible or Lender's security would be lessened, the Misccllancous Proceeds shall be applied
<br />to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Bornwcr. 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
<br />shall he applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />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
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to Or greater
<br />than the amount of the sums secured by this Security Instrument immediately before the partial taking,
<br />destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this
<br />Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total amount of the scans secured immediately before the partial taking, destruction, or loss in
<br />value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or
<br />loss in value. Any balance 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
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount
<br />of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after
<br />notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award
<br />to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is
<br />given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the
<br />Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means
<br />the third party that owes Borrower Miscellaneous Proceeds or the parry against whom Borrower has a right of
<br />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
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest
<br />in the Property or rights under this Security Instrument. Borrower cirri cure such a default and, if acceleration
<br />has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security instrument. The proceeds of any award or claim for
<br />dmusges that are attributable to the impairment of Lcnder's interest in the Property are hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
<br />in the order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tune for
<br />payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to
<br />Borrower or any Successor in Interest of Burrower shall not operate to release the liability of Borrower or any
<br />NEBRASKA -- Single Family -- Fannie Mae/Freddie Mae UNIFORM INSTRUM ENT Form 30381/01
<br />on N'6Meavei oe /oapaor (Page 8 efl4)
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