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200304471
<br />Mortggage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements wdh other parties that share or modify their risk, or reduce losses.'1'hese agreements are on terms and amditinns
<br />that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may
<br />re tire the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available
<br />(which may include funds obtained from Mortgage Insurance premiums).
<br />Asa result ofthese agreements, Lender, any purchaser ofthe note, another insurer, any reinsurer, any other entity,
<br />or affiliate ofany ofthe foregoing, may receive (directly or indirectly) amounts that derive front (or might be characterized
<br />as) a portion ofBorrower's pa nents for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses. Ifsuch agreement provided that an affiliate of Under takes a share ofthe insurer's risk In exchange
<br />for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has — if any —with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation ofthe Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and /or to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceedsare herebyassiymedinand
<br />shall be paid to Lender.
<br />Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if
<br />the restoration or repair is economically feasible and Lender's security Is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportuni ty to inspect such
<br />Property to ensure the work has been completed to lxnder's satisfaction, provided that such irepeMi Otis hal be undertaken
<br />promptly. Lender may pay Poi the repairs and restoration in a single disbursement or m a series ofprogreas payments as the
<br />work Is completed. Unless an ap{eement is made m writing or Applicable Iew requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall no[ be required to pay Borrower any interest or earnings on such Miscellaneous
<br />Proceeds. If[he restoration or repair is not economically feasible or I.ender'a security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured byy this Security Instrument, whether or not endue, with the excess, ifany,
<br />paid [o Borrower. Such Miscellaneous Yroceeds shall be applied in the order provided for in Section 2.
<br />In the event of a tidal taking destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured bythis Security Instrument, whether or not then due, with the excess, if my, paid to Burrower.
<br />In the event of a gannet taking destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately bePore the partial taking, deatmctioq or loss in value is equal to or Fewer than the am ura
<br />ountofthe as
<br />secured by this Sccunly Instrument immediately before the Dartial taking, destruct ion, or loss in value, unless Borrower and
<br />Lender otherwise agree m writing, the sums secured bythis Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount ofthe sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value ofthe Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediate)y before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />Immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrumentwhe[her or writhe sums are then
<br />due.
<br />If the Property is abandoned by Burrower, 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 (ails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect miles, 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 Parr' means the third party that owes Burrower Miscellaneous Proceeds or the party against whom Borrower
<br />has a riglIt of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if my action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judggment, could result in forfeiture ofthe Property or other material impairment of Lender's interest in the Properlyor rights
<br />underthis Security Instrument. Borrower can cure such a default and, ifaceeleration has occurred, reinstate as providedin
<br />Section 19, by causing the action or proceedingg to be dismissed with a ruling that, in Lender'sjudgment, precludes forfeiture
<br />of the Prooerly or other material impairment offender's interest in the Property or rights under this Securrtybutrament. The
<br />AR 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 />12. Burrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured bythis Security Instrument granted by Under to Borrower urany.Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower.
<br />Lender shall not be required to commence proceeding against any Successor in interest of Borrower or to refuse to extend
<br />time for payment or otherwise modify amortization ofthe sums secured bythis Security Instrument byreason ofanydemand
<br />made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by lender in exercising any right
<br />or remedy Including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in
<br />Interest of Borrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; CO- signers; Successors and Assigns Bound. Borrovercm,mantsandagrees
<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 moage, grant
<br />and convey the co- signer's interest in the Property under the terms of this Security Instrument; (b) is notpersorlal obligated
<br />to pay the sums secured by this Security Instrument; and (c) agrees that lender and my other Borrower can agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Now without the co-
<br />signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, mid is approved by Lender, shall obtain all ofBOrrower's rights and benefits under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this SecurI
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument sha I
<br />bind (except as provided in Section 20) and benefit the successors and assigns of lender.
<br />14. Loan Charges. Lender may charge Borrower fees ibr services performed in connection with Borrower's
<br />default, for the purpose of protecting Lender's interest in the Properly and rights under this Security Instrument, including,
<br />burner limited to, attorneys' fees, properly inspection and valuation fees. In regard to any other fees, the absence of express
<br />authority in this Security Instrument to charge a specific fee m Borrower shall not be construed as a prohibition on the
<br />chargingofsuchfee. Lender may not charge flees that are expressly prohibited bythis Security Instrument or by Applicable
<br />Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the
<br />interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a)
<br />any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums
<br />NEBRASKA -- Single Family— Fannte Mii Frsodl. Mae UNIFORM INSTRUMENT Form3028 Inn (➢nge5o%8pages)
<br />4I54.CV(1/02) 16]888]
<br />OOTO(0004WO)
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