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200304799
<br />Mortgage Insurers evaluate their most risk on all such insurance in force from time to time, and may enter into
<br />agreements wI other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions
<br />that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may
<br />regwire 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 of these agreements, Lender, any purchaser of the note, another insurer, any reinsures, any other entity,
<br />or affiliate ofany ofthe foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion ofBorrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses. If such agreement provided that an affiliate of Lender takes a share of the 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 />7a) 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 of the 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 herebyassignedto and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied in restoration or repair ofthe Property, if
<br />the restoration or repair 1s economically feasible and Lender's security 1s not lessened. During such repair and restoration
<br />period, lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such
<br />Propertyto ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the
<br />work is completed. Unless an agreement 1s made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous
<br />Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. 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 shall be
<br />applied to the sums secured by this Security instrument, whether or not then due, with the excess, if my, 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 the
<br />Lender
<br />2ction, or
<br />or loss in
<br />Property immediately before the
<br />Immediately before the partial tat
<br />the Miscellaneous Proceeds shall
<br />due.
<br />ums secured by this Security Instrument shall be reduced by the amount of the
<br />following fraction: (a) the total amount ofthe sums secured immediatelybefore the
<br />divided by (b) the fair market value of the Property immediately befarethepartial
<br />balance shall be paid to Borrower.
<br />destruction, or loss in value of the Property in which the fair market value of the
<br />taking, destruction, or loss in value is less than the amount of the sums secured
<br />'.nuctmn, or loss in value, unless Borrower and Lender otherwise agree in writing,
<br />ied to the sums secured by this Security Instrument whether or not the sums are then
<br />If the Property is abandoned by Borrower, 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 dannles, Borrower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply 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 Part' means the third party that owes Borrower Miscellaneous Proceeds or the parry against whom Borrower
<br />has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun thin, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment offender's interest in the Propertym rights
<br />under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as rovided in
<br />Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, Precludes forfeiture
<br />of the Property or other material impairment offender's interest in the Property or rights under this Securltylastrument. The
<br />pnsecds of any award or claim for damages that are attributable to the impairment of lender's interest in the Property are
<br />hereby assiggned and shall be paid to lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair ofthe Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payment or
<br />modification ofamortization ofthe sums secured by this Security Instrument granted bylender to Borrower or arry9uccessor
<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 ofBr
<br />oower or to refuse to extend
<br />time for payment or otherwise modify amortization ofthe sums secured by this Security Instrument by reason olwy demand
<br />made by the original Borrower army Successors in Interest ofBorrower.An forbearance by Lender in exercising any right
<br />or remedy including, without limitation, Lender's acceptance of payments fryam 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 ofany right or remedy.
<br />13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Boravercovenuntsandagrees
<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 Now (a "w- signer "): (a) is co-signing this Security Instrument only to mortgage, grant
<br />and convey the co- signer's interest in the Property under [he termso this Security Instrument; (b) is not personal yobligmed
<br />to pay the sums secured by this Security Instrumenry and (c) agrass that lender and any other Borrower can agree to extend
<br />modify, forbear or make a oyaccommodations with regard to the terms ofthis Security Instrument or the Note withoutthe 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, and is approved by lender, shall obtain all ofBon ower's rights and benefits under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees tosuch release in writing. The covenants and agreements ofthis Security Instrument shall
<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 for services performed in connection with Borrower's
<br />default, for the purpose ofprotecting Lender's interest in the Proper% and rights under this Security Instrument, including,
<br />but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence ofexpress
<br />authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the
<br />charging ofsuch fee. lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable
<br />Law.
<br />If the Loan is subject in a law which sets maximum loan charges, and that law is finally interpreted so that the
<br />interest other loan charges collected or to be collected d in connection with the Loan exceed the permitted limits, then: (a)
<br />l
<br />anysuch loan charge shall be reduced by the amount necessarym reduce the charge to the permitted limit; and (b) any sums
<br />NEBRASKA - Single Family -Fanni a Ma .risible Vise UNIFORM INSTRUMENT Form3m2A Irol (page5oJ8pagm)
<br />9754CV(1 /02) 1682004
<br />GOTO(0004ceee)
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