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RERECORDED 200206287 200205703 Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result ofthese agreements, I ender, any purchaser of the note, another insurer, any ieinsurer, any other entity, or affiliate of any ofthe foregoing, only recce e (directly or indirectly) amounts that derive from (or might be characterized as) a portion ofl3onower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, catcall ucing losses. If such agreement provided that an affiliate of Lender takes a share nfthe insurer's risk m aechangc for a share ofthe premiums paid to the insurer, the arrangement is often tenned "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay far Mortgage Insurance, or any other terms ofthe 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. Assignmentol'Miscellancous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if the restomtion or tepair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opporiunhy to inspect such Property to ensure the work has been completed to bender's satisfaction, provided that such inspection shalll be undertaken promptly. Lender may pay fur the repairs and restomtion in a single disbursement or in a series ofprogress payments as the work is completed- Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellancous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If due restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall he applied to the sums secured by this Security Instmment, whether or not then due, with the excess, ifavy, 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 ofthe Property, the Miscellaneous Proceeds shall be applied no the sums secured by this Security Instrument, whether or Dot then due, with the excess, ifavy, paid to Borrower. In the event of a partial taking, destruction, or loss in value ofthe Property in which the for market value ofthe Property imnnedlatelybefore the partial taking, destruction, or loss in valuers equal to or greater than the amount ofthe some, secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall he reduced by the amount ofthe Miscellaneous Proceeds multiplied by the following fir:eulml: (a) the total amountofthe sumssecuredimmediatelybef lre the partialtaking,desnection, or lossin valuedivided by (b) the fair market value ofthe Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event at a partial taking, destruction, or loss in value ofthe Property in which the fair market value ofthe Property immediately before the partial taking, destruction, or loss in value is less than the amount ofthe sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Pmcceds shall be applied to the sums secured by this Security Instmment whether ornotthe sums are then due. If the Property is abandoned by Burrower, or if, alter notice by Lender W Borrower that the Opposing Party (as defined in line next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or W the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrmver Miscellaneous Proceeds or the party against wham Borrower has a right ofaction in regard W Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture ofthe Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Burrower eon cure such u default and, facceleration has occur red, reinstate as provided in Section 19, by causing the action or proceedingg to be dismissed with a ruling that, in Lender'sjudgment, precludes orfettare ofthe Property or other material impairment of Lcnder's interest in the Property or, ights under this Security Instrument. The proceeds of any award or claim for damages that are anributable to the impairment offender's interest in the Property are hereby assigned and shall he paid to Lcndcr , All Miscellaneous Proceeds that are not applied to restoration or repair ofthe Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payment or modification ofamonizafion ofthe sums secured by this Security Instrument granted by I ender to Borrower or any Successor in Interest of Borrower shall out 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 W extend time for payment or otherwise modify amortization ofthe sums secured by this Security Instrument byreason of rly demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without linutatmn, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or m amounts less than the amount then due, shall not be a waiver ofm preclude the exercise ofany 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 co -signs this Security Instrument but does not execute the Note (a "co-signer'): (a) is co- signing this Security Instrument only to mortgage, grant and conveythe co- signer's interest in the Properly under the leans of this Security Instrument; (b) is not pesonallyobligaled to pay the sums secured by this Security Insnmment, and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the tetras of this Security Instrument or the Now without the co- signer's consent. Subject to the provisions ofSection 18, any Successor in Interest of Burrower who assumes Borrower's obligations under this Security Instmment in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits tinder this Security Instrument, rforrmver shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements ofthis Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting bender's interest in the Property and rights under this Security Instrument, including, but nut limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence ofexpress authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging ofsuch fee. Leader maynot charge fees that are expressly prohibited bythis Security Instrument or by Applicable Law. If lire Loan is subject to a law which sets 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 W reduce the charge to the permitted limit; and (b) any sums NEBRASKA -- Single Family -- ¢'sonar Nino /Frodaie NCm I.INIFORNI INSTRUNI ENT Fornt3038 1/01 / /,re¢e5n(R pneesl I11iI%012) GI P3 1i0 1 IDt110=ai II