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200301162 Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. 'I here agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require die mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). or affiliate of any of the lorel oing may receive (directlyor indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgagge Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. Ifsuch agreement provided that an affiliate of Lender takes a share ofthe insurer's risk ut exchange for a share ofthe premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: 1 (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has — if any— with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation ofthe Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and /or to receive a refund ofany Mortgage Insurance premiums that were untanned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceedsareherebyassignedtoand shall be paid to Lender. It the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Properly, if the restoration or repair is economically feasible and Under's security is not lessened. During such repair mid restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an oppornmitvto inspect such Properly to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series ofprogress payments as the work is completed ❑mess an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the Burns secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower. In the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value ofthe Properly immediately before the partial taking, destruction, or loss in value is equal to or greater than the amountofthe sums secured by this Security Instrument immediately before the partial taking, destruction, or)oss in value, unless Borrower mid Lender ol)arwise agree in writing the sums secured by this Security Instrument shall be reducel by the amount ofthe Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount ofthe sums secured immediatelybefore die partial taking destruction, or loss in value divided he Bit the fair market value ofthe 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 ofthe Property immediately before the Partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking destruction, or loss in value, unless Borrower and finder otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not suns are then due. Ifthe Property is abandoned by Borrower, or if, after notice by Lander to Borrower that the Opposing Party (as defined in the next sentence) offers to make art award to settle a claim for dams yes, Borrower fails to respond to Lender within 30 days offer the date the notice is given, Lender is authorized to collect an apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured b this Security Instrument, whether or not then due. "Opposing Party" means the third parry thatewes Borrower Miscellaneous Proceeds or the parry against whom Borrower has a right ofaction in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in lender's judgment, could result in f nfeiturc of the Property or other material impairment of Lender's interest in the Propertyor rights under this Security Instrument. Borrower can cure such a default mid, ifacceleration has occurred, reinstate as provided in Section 19, by causing the action or proccelin ff, to be dismissed with a ruling that, in Lender's judgment, Precludes forkiture nt ofthc Property or other material impairme oKender's interest in the Property or rights under flits Security Instrument. The proceeds ofany award or claim for darnages that are attributable to the impairment of Lender's interest in the Property are hereby asstggned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair ofthe Property shall be applied in the order provided for in Section 2. 12. Burrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payment or modification of amortization ofthe sums secured by this Security Instrument granted by Leader In Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to reftise to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason ofany demand made bytne original Borrower or any Successors in Interest of Borrower. Any forbearance by tinder in exercising any right or remedy including, without limitation, lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver ofor preclude the exercise ofany right or remedy. 13. Joint tied Sever al Liability; Co- signers; Successors and Assigns Bound. Borrowercovermusandagrees that Borrower's obligations and liability shall be joint and several. However, mty Borrower who co -signs this Scourity Instrument but does not execute the Note (a "co- signer" ): (a) is co- signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terns ofthis Security Instrument; (b) is not personally obligated to pay the aunts secured by this Security Instrument; and (c) agrees that 1 znder and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terns ofthis Security Instrument or the Note without the co- signer's consent. Subject to the provisions of Section 18, any Successor in Interest ofBorrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrocs to such release in writing The covenants and agreements ofthis Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns oflander. 14. Loan Charges. Under may charge Borrower fees for services performed in connection with Borrower's default, for the purpose ofprotecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation tees. In regard to any other fees, the absence ofcxpress authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging ofsuch fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected onto be collected in connection with the Loan exceed the permitted limits, then (a) any such loan charge shall be reduced by the amount necessary To reduce the charge to the permitted limit; and (b) any sums NEBRASKA Single Parody-- Famele Mae /Freddie Mac ONIFORM INSTRUMENT Porni3028 1101 ( ➢nye5 of8pagev/ 9.51 cv(I /02) I0I802 corO(ooa3n5z)