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200300005
<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 repair
<br />and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement
<br />or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
<br />IA]ndcTlN security would he lessened, the Miscellaneous Proccuds shall be applied to the sums secured by this Security
<br />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 />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall
<br />be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Properly immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br />of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
<br />Property immediately before the partial taking, destruction, or 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 value of
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value, unless Borrower and lender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br />or not the sums arc then Inc.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party
<br />(as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" means the third patty that owes Borrower Miscellaneous Proceeds or the patty
<br />against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whclhcr 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
<br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to he dismissed with a ruling that, in Lender's
<br />judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that arc not applied th resmralion or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment
<br />or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or
<br />any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in
<br />Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of
<br />Borrower or to refuse to extend time for payment or otherwise modify amortization of the aunts secured by this
<br />Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of
<br />Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's
<br />acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the
<br />amount their duo, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />NEBRASKA— Si.gle Family — Fannie Mae /Freddie Mac UNIFORM INSTRUMENT pocMaglceL3pvoo4lT a. ses rasz
<br />Form 3028 1 /01 Page 8 of 13 www. tlacmogic.com
<br />,WOK 111k.
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