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<br />economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess,
<br />if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair
<br />market value of the Property immediately before the partial taking, destruction, or loss in value is
<br />equal to or greater than the amount of the sums secured by this Security Instrument immediately
<br />before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree
<br />in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall
<br />be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair
<br />market value of the Property immediately before the partial taking, destruction, or loss in value is less
<br />than the amount of the sums secured immediately before the partial taking, destruction, or loss in
<br />value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for
<br />damages, Borrower fails to respond to Lender within 30 days after the date the notice is given,
<br />Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair
<br />of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Borrower 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
<br />that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of
<br />Lender's interest in the property or rights under this Security Instrument. Borrower can cure such
<br />a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action
<br />or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the
<br />Property or other material impairment of Lender's interest in the Property or rights under this
<br />Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall
<br />be applied in the order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time
<br />for payment or modification of amortization of the sums secured by this Security Instrument granted
<br />by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the
<br />liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to
<br />commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason
<br />of any demand made by the original Borrower or any Successors in Interest of Borrower. Any
<br />forbearance by Lender in exercising any right or remedy including, without limitation, Lender's
<br />acceptance of payments from third persons, entities or Successors in 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
<br />or remedy.
<br />13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower
<br />covenants and agrees that Borrower's obligations and liability shall be joint and several. However,
<br />any Borrower who co -signs this Security Instrument but does not execute the Note (a "co- signer "):
<br />NEBRASKA — Single I amih— Fannie Mae /Freddie Nlae UNIFORM INSTRUMENT Form 3028 1 /01 (page 9 of 14 pages)
<br />ALE NE4811 /00 LOAN ID: 00967827
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