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200206025
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in
<br />value, unless Borrower and I ender otherwise agree in writing, the sums secured by this Security Instrument shall be
<br />reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of
<br />the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid
<br />to Borrower.
<br />In the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the
<br />sums secured immediately before the partial taking, destruction, or Toss in value, unless Borrower and Lender
<br />otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br />Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or it, after notice by
<br />Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a
<br />claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is
<br />authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that
<br />owes Bom.wcr MiscJ1mmous' Proceeds or the party against whom Borrower has a right of action in regard to
<br />Miscellimeom, Pnsccds.
<br />Ben'ower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender', judgmmd, could result in forfeiture of the Property or other material impairment off ender's interest in the
<br />Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that,
<br />in Lender's judgment, precludes forfeiture of the Property or other material impurroart of Tender's interest in the
<br />Property or rights under this Security Instrument The proceeds of any award or claim for damages that are
<br />attribumble to the 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 be applied in
<br />the order provided for in Section 2,
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment
<br />or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or
<br />any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in
<br />Interest of Borrower Lender shall not be required to commence proceedings against any Successor in Interest of
<br />Borrower or to mfe,c to extend time for payment or otherwise modify amortization of the sums secured by this
<br />Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of
<br />Borrower Any 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 amounts less than
<br />file amount then due, shall not he a waiver of or preclude the exercise of any right or remedy_
<br />13. Joint and Sevcral Liability; Co- signers; Successors and Assigns Bound. Borrower covenants and
<br />agrees that Borrower's obligations and liability shall bejoinl and several. However, any Remover who co-signs this
<br />Security Instrument but does not execute [he Note (a "co- signer "): (a) is en- signing this Security Instrument only to
<br />mortgage, grant and convey the co-signer's interest in the Property under 1110 ICmts of this Security Instrument; (b)
<br />is not personally ablieated to pay the sums secured by this Security Inatruntud; and (c) agrees that Lender and any
<br />other Borrower can agree to extend, modify, forbear or make any accommodations widt regard to the terms of this
<br />Security Instrument of the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's
<br />obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's
<br />rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and
<br />liability under this Security Instrument unless Lender agrees to such release in writing_ The covenants and
<br />agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and
<br />assigns of Lender.
<br />19. Loan Charges. Lender may charge Ban'owei fees for services performed in connection with
<br />Borrower's default, for the purpose of protecting Lender's interest in Bra Property and rights under this Security
<br />Instrument, including, but not limited to, attorne)5' fees, property inspection and valuation fens. In regard to any
<br />NEBRASKA Single Family — Fannie Mne /Freddie Nine UNIFORM IiNSTRC MFN r Fnrm 30281/01
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