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200306009 the tgage Ins, may receive exchange far amounts that derive from (or might be r characterized as) a portion of Burrower payments for or Mori of Lender to In exchange for sharing or modifying the mortgage Insurer's risk, e reducing theses- If such agreement t is oft provides that an affiliate of Lender takes a share of the insurer's risk In exchange for a s'here W the premiums paid to the insurer, the arrangement IS often termed "captive reinsurance, Father (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 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 Proceeds are hereby assigned to and shall be paid to Lentler. If the Property is damaged such Miscellaneous Proceeds shall be applied to restoration or repair at the Property, if the restoration or repair is economically foasihle, and Lender s security is riot lessened. During such repair and restoretlon period, Lender shall have the right to hold such Miscellaneeus Proceeds until Lender has had an opportunity to Inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undadaken promptly- Lender may pay for the repairs and restoration in a single disbursement or In a series of progress payments as Pie work Is completed Unless an agreement Is made In writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall riot be required to pay Borrower any Interest or earnings on such Miscallaneehe Proceetls. If the restoration or repair is not economically feaSlbl , or Lender's security would be lessened. he Miscellaneous Proceeds shall be applied to the sums secured by this Security notrumrent, whether or not then due, with the excess, If any, 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 sums scoured by this' Security Instrument, whether or not than due, with the excess, If any, paid Borrower. In the event of a partial taking, destruction, or Ined 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 equal to or greater than the amount of the same securetl by this Security Instrument irranedepty before the radial taking, destruction. or Toss in value, unless Borrower and lender otherwise agree In writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following traction (a) the total amount of the sums secured immediately before the partial taking, destrugfion, or Inns in value divided by (b) the fair eternal value of the Property immediately before the panlal taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or less in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or lass in value Is less than the amount at the sums secured hnmediatuiy before the partial taking, tlestruction, or Toss In value, unless Borrower and Lender otherwise agree In writing, the Miscellaneeus Proceeds shall be applied to Pre sums secured by this Security Instrument whether or not the sums are than tlue. If the Property is abandoned by Borrower or if after notice by Lender to Borrower that the Opposing Pont (as defined In the next sentence) offers to make an award to oaths a claim for damages, Borrower fads to respond to Lender within 30 days after the date the notice is given. Lender is Authorized to collect and apply Pre Miscellaneous Proceeds either to restoration Or repair of the Probably or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that ewes Borrower Misoellaneor s Proceeds or the party against whom Borrower has a right of action In roganl to Miscellaneous Proceetls, Borrower shall be in default if any action or proceeding, whether dull or criminal, is begun that, In Lender s judgment, could result In forfeiture of the Property or other material Impairment of Lenders interest in the Property or rights under this Security Instrument. Borrower can core such a default and if acceleration has occurred reinstate as provided In Section 19, by causing the action or proceeding to be dismissed with a ruling Prat, rte Lender's judgment, precludes ierfeiture of the Property or other Lateral Impairment of Lenders interest In the Property or rights under this Security Instrument The proceeds of any award or claim for damages that are attributable to tire impairment of Lenders intorost in the Property are hereby assigned and shall be paid to Lender. All Miseollaneous Proceeds that are not applied to restoration or repair of the Property shall be applied In the order provided far in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Inslrament granted by Lander to Borrower or any Successor In Interest of Borrower shall net 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 refuse to extend tlme for payment or otherwise freshly a nodizabun of the sums seemed by this Security Instrument by reason of any demand made by the original Borrower or any Successors In Interest at Borrower. Any forbearance by Lender in exorefsng any right or remedy Including, without limitation, Lender's acceptance of payments from third persors, entities or Successors In Interest of Burrower or In amounts less than the amount then tlue, 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 cosigns Prix Security Inslrament but does not execute the Note (a ",.a Igmer ")'. (a) is ou signing this Security Instrument only to mortgage, grant and convey the co- signer s Interest In the Property under the terms of this Security Instrument, (b) is not personally Obligated ig pay the sums secured by this Security Instrument and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the a aigner's consent Suhject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Burower'a obligations under this Security Instrument In writing, and Is approved by Lentler, 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 agrees to Sush ropose, In writing- The covenants and agreements of this Security Instrument shall bind (except as provided In Section 20) and benefit the successors and assigns of Lentler. 14. Loan Charges. Lender may charge Borrower tees for services pebl0rmed in connection with Borrower's default, for the purpose of protecting Lereara Interest in the Progeny and rights under this Security Insirurnent, Including, but 1101 limited to. attorneys' fees, property Inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not he construed as a prohibition on the charging of such fee- Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If Pre Loan is subject to a law which sots 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 the charge to the permitle limit. and her any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower Lander may choose to make Prix refund by reducing the principal owed under the Note or by making a direct payment fo Borrower. It a refund induces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note)- Borrower's acceptance of any such stand made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender In connection with this Security Instrument must be In writing- Any notice to Borrower In connection with this Security Instrument shall be deemed to have been given to Borrower when Traded by first class mall or when actually delivered to Borrower's notice address it said by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address skull be the Property Address unless Borrower has designated a substitute notice address by notice to 1 Pnder. Borrower shall promptly notity Lender of Borrower's change of sources If Lender specifies a pronedum for reporting Borrower's change of atltlress, then Borrower shall only report a change of address Pnuaylr thet specified procedure- There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering It or by mailing It by first class mall to Lender's address stated herein unless Lender has r ecall another address by notice to Borrower, Any notice In connection with this Security Instrument shall not be deemed to have been given to Lender until equally ox owed by Lender. It any notice requited by tho Security Instrument Is also required under Applicable L'aw, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severabifity; Rules of Construction. This Security Insvument shall be governed by federal law and the law of fife jurisdiction in which the Property Is located- All rights and obliga0ons contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or Implicitly allow the parties to agree by contract or It might be silent, but push s'Jencs shall not be construed as a prohibition against agreement by contract In the event that any provision or clause of his Security Inslrament or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As .sad In this Security Instrument. (a) words of the masculine gender shall mean and include corresponding neuter words or words of the NEBRASKA Single Family - Fannie Mae/Fr ddie Mac UNIFORM INSTRUMENT Form 3028 f /01 Page 4 of 6