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200306652
<br />risk, or reducing losses. If such agreement provides that an a] filiam 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 tenned "captive reinsurance," Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,
<br />or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage
<br />Insurance, and they will not entitle Borrower to any refund.
<br />(h) 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 Proceeds are hereby assigned to and shall
<br />be paid to Lender.
<br />If the Properly is dmuaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible end Lender's security is not lessened. During such repair mid restoration period,
<br />Lender shall have the right to hold such Miscellaneous Proceeds until Leader has had an opportunity to inspect such Property
<br />to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may pay fen the repairs and restoratiou in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless all agreement IS made in writing or Applicable Law requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall not be required to pay Borrower any interest er crunings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
<br />applied to [lie suutS secured by this Security instrument, whether or net then due, with the excess, if any, paid to Borrower.
<br />Such Miscellaneous Proceeds Shall be applied in the order provided for in Sartiun 2.
<br />fn the event of a total taking, destructimy or loss in value of the Property, the Miscellaneous Proceeds shall be applied to
<br />the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower,
<br />fn the event of a partial taking, destruction, or loss in value of the Properly in which the fair market value of the
<br />Property iuuuediatedy before the partial taking, destruction, or loss in value IS equal to or greater than the amount of the sums
<br />secured by this Security Instrument inuuediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the south secured by this Security Inatnmicnt Shall be reduced by the amount of the
<br />Misccllanc+mh Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />[n We elect of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately 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 Pmeeeds shall be applied to [lie sums secured by this Security Instrument whether or not the scroll me
<br />then due.
<br />If the Properly is abandoned by Borrower, or if, after notice by Lender to Burrower that the Opposing Party (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30
<br />days after the date thc notice is given, Lender is authorb,ed to collcet and apply the Miscellaneous Proceeds either to
<br />restoration or repair of the Properly or to One suers secured by this Security Instrument, whether or not then due. "Opposing
<br />Party" utcaus the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of
<br />action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Property or other matcrinl impairment of Lender's interest in the Property or rights tinder this
<br />Security Instrument. Borrower call cure such a default and, if acccicratiou hah occurred, reinstate as provided it) Section 19,
<br />by causing the action or proceeding to be dismissed with a riding that, in Lender's judgment, precludes forfeiture of the
<br />Property or other material impairment of hander's interest in the Property or rights under this Security Instrument. The
<br />proceeds of any award ar claim for damages that are attributable to the impaimtenl of Leader's interest in the Property arc
<br />hereby assigned and shall be paid to Louder.
<br />All Miscdlaueuus Proceeds that are not applied to restoration or repair of the Property shall he applied in the order
<br />ptnvided for in Sccnou 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the Su.na secured by this Seemly Instrument granted by Leader to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of
<br />NEBRASKA —Sie9k Family —F'ai me Mue/Freddie Mac UNIFORM INSTRUMENT Form M29 lla1
<br />onEnnnao.
<br />ITEM 1915V(DOl1) (P,t,t, 7,f l II Lql,') ToD,tlxi Cell l AOD 530 old G lac. Ile Ill 1131
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