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200301325 Mortgagre Insurers evaluate their feint risk on all such insurance in force from time to time, ar1d may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on [inns and conditions that are ,mismikay to the mortgage insurer and the other pwty (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of fimds that the mortgage insurer may have available (which may Include funds obtained from Mortgage Insurance premiums). As a result ofthese agreements, Lender, any purchaser ofthe note, another insurer, any reinsurer, any other entity, or allilime ofany ofthe foregoing, may receive (directly et indirectly) amounts that derive froln (or might be characterized for a share of the premiums paid to the Insurer, the arrangement Is often retuned "captive reinsurance." Further: t (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms ofthe Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will nut entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has —Hairy —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 of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and /or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceedsare hereby assigned to and shall be paid to lender. Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until lender has had an opportunity tot npect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender maypay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. UUnless 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. Ifthe 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 Burrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event ofa total taking, destruction, or loss in value ofthe Property, 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. In the event ofa partial taking, destruction, or loss in value ofthe Property in which the fair market value ofthe Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the arnounnofthe sums Miscellaneous Proceeds multiplied by the following traction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or lass in value divided by (b) 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 of the Property immediately before the partial taking, destruction, or loss in value is less than the amount ofthe sums secured immediately before tke partial taking, destruction, or loss In value, unless Burrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured bythis Security Instrument whether or dandle sums are then due. Ifthe Property is abandoned by Borrower, or if; after notice byy Lender to Borrower that the Opposing Party (as dcfired in the next sentence) offers to make an award to settle a clairn for darnsges, Borrower fails to respond to Lcndor within 30 days afterthe date the notice is given, Lender is authorized m collected applythe 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 parry that owes Borrower Miscellaneous Proceeds or the parry against whom Borrower has a right of action 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 m fodci ure ofthe Proponyor other material impairment of Lender's interest in the Propertyor rights under this Security Instrument. Borrower can cure such a default and, ifacceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender'sjudgmenl, precludes forfeiture ofthe Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment ofLcader's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are out applied to restoration or repair ofthe Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payment or modification ofanrortization ofthe sums secured by this Security Instrument granted by lenderto Borrower or artySuccessor 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 proceedinggs against any Successor in Interest ofBorrower or to refuse to ex tend time for payment or otherwise modify amortization ufthe sums secured by this Security Instrument by reason ofanydemand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lander in exercising mo rigln 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 of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co -signs this Security Instrument but does not execute the Note (a "co- signer"); (a) is co-signing this Security Instrumentonly to mortgage, grant mid convey the co- signer's interest in the Property under the terms ofthis 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, modity, torbear or make any accommodations with regard to the terms ofthis Security Instrument or the Note without the co- signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower whoassumes Borrower's obligations under this Security Instrument in writing, cold 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 I ender agrees w 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 of Lender. 14. Loan Charges. tender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose ofproteeting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation files. In regard to any other fees, the absence ofexpress 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. Ifthe Loan is subject h, a law which sets maximum 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 charge shall be reduced by the amount necessary to reduce die charge to the permitted limit; and (b) any sums NEBRASKA - Single Family Fannie Mae /Freddie Mac UIN'IFORMINSTRUMENT F'urm3028 1 /01 IV�B "r /BVoB�'il 9r5rCV(1 /e2, IWl5 Ell I onllllnllu49)