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20020G3 75 Mortgage Insurers ewalua[e their total risk on all such insurance in force from time to fine, and may enter into agreements with other parties that shore or modify their risk, or reduce losses. These agreements arc on terns and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agre�ementx may regaire the mortgage insurer to make payments using any source of fiends that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result oflhese agreements, Lender, any purchaser ofthe note, another insurer, any rcinsurer, any other entity, or affiliate of any ofthe foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. IfsucIt agreement provided that an affiliate of Lender takes a share ofthe insurer's risk in exchange for a share of the premi rums paid to the insm'er, the arrangement is often termed "captive reinsurance." Further: (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 fur 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 ofthe 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 cancehlnlion or termination. 11. Assignment of M iscellaneons Proceeds; Forfeiture. All Mistel lancous Proceeds ate hereby assigned to mid shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Pi if the restoration or repair 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 I order has had an upportumty to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly bender may pay for the , town x and restoration in a single disbursement or in a series ofpmgress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Leader shall not be required to pa yy Borrower any interest or earnings on such Miscellaneous Proceeds. Ifthe restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the suns secured bythis Security Instrument, whether or not then due, with the excess, irony, 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 secured bythis Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower. trial taking, destruction, or loss 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 greeter than theamount ofthesutns secured by this Security Instrument immediately before the partial taking, destruct ion, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount ofthe Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount ofthe sums secured immcdiatelybefore the partial taking destruction, or loss in value divided by (b) the fair market value ofthe Property immediately before the partial taking, destruction, or loss in fn the event of 'a partial taking, destruction, or loss in value ofthe Property in which the fair market value ofthe the partial taking destruction, or loss in value is less than the amount of the sums secured al taking, destruction, or loss in value, unless Borrower sad Lender otherwise agree in writing, shall be applied to the sums secured bythis Security Instrument whether or not the sums arc then If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, But fails to respond to Lender whhin 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 to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the parry against whom Borrower has a right ofaction in re and to Miscellaneous Prrrcccds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in larder's judgment, could result in forfeiture ofthe Property or other material impairment of Lender's interest in the Property or rights under this S ecuri ty ens trmnenl. Borrower can cure such a default and, ifacceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to he dismissed with a ruling that, in Lender's judgment, precludes forfeiture ofthe Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are suit hutable to the imparmenl of Lender's interest in the Property are ALI Miscellaneous Proceeds that are not applied to restoration or repairof the Property shall be applied in Ore order provided for in Section 2. 12. Borrower Not Released; Forbearance By tender Not a Waiver. Extension ofthe time for payment or modification ofamortizstior nfthe sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Inleres't of Borrower shall not operate to release the liability of Borrower or any Successors in Interest u Burrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization ofthe sums secured by this Security Instrument by reason ufanyderwnd made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising anytight or remedy including, w i dwut li to nation, Lender's acceptance of payments from third persons, entities to Succes's'ors in Interest of Borrower or in nmoun is less than the amount then due, 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 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 convey the co-signer's interest in the Property under the terms ofthis Security Instrument' (b) is not perxonallyohligafet to pay the suns 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 ofthis Security Instrument or the Note without the co- signer's consent. Subject to the provisions of Section 18, miy Successor in Interest of Borrower who assumes Borrowers obligations under this Securiry Instrument in writing, and is approvedby Lender, shall obtain all ofBorrowet's rights andbenefits under this Security Instrument. Borrower shall riot be released from Borrower's obligations and liability under this Securty Instrument unless Lender agrees to such release in writing The covenants and agreements of this Security Instrument shall bind (except as provided in See fion 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in courectiun with Burruwer's default, for the purpose ofprotecting Lender's interest in the Properly and rights under this Security Instrument, including, humor limited lo. monneys' fees, property inspection and valuation fees. In regard to any other fees, the absence ofcxpress authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging ofsuch fee. Lender riaynot charge fees thatare expressly prohibited hythis Security lnstrumenlorby Applicable Law. If the 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, Men: (a) any such loan charge shall be reduced by the amountnecessary to reduce the charge to the permitted limit; and (b) any sums NEBRASKA - -Single Family -- Fannie MaelFreddie Mac INI FORM INSTRU MEN I Fe -3028 1101 (page5of8pages) 1111 U1 (I let G1144s GOT00a231,.)