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200207533 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 we on terns 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). Asa result of these agreements, Lender, any purchaser of the note, another insurer, any reinsm'er, any other entity, or affiliate of any of the forcgnmg, may receive (directly or indirectly) amounts that derive from (or might be characterized a,) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, m reducing losses- if such agreement provided that an affiliate offender takes a share ofthe insurer's risk in exchange for a share of the premiums paid to the insurer, 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 for Mortgage Insurance, and they will not entitle Burrower 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 discloser es, 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 al the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned round shall he paid in Trader. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of theProperty, if the restoration or repair is cromwriically feasible and Lender's security is not lessened. During such repair and restoration period, Leader shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall he undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series ofprogi ess payments as the work is completed, ladess an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellartaires Proceeds shall be applied to the sums secured by this Security Instrument, whether or not their due, with the excess, if any, 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 by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or Toss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, m loss in value is equal to or greater than the amount ofthe sums ,reared by this Security Instrument immediately before the partial taking, destruction, of loss in value, unless Borrower aid Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction (a) the total amount of thc sums secured inunediati lybeforethe partial Caking, destruction, or], I,, in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial Inking, 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 less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whetheror not the sums we then due. B the Property is abandoned by Borrower, or if, aher notice by Under to Borrower that the Opposing Party (as defined in the 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 to the suns secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Ascellaneous Proceeds or the party against whom Borrower has u right of action in regard to Miscellaneous Proceeds. Borrower shall I)e in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment efLender's interest in the Propertyor rights un(lerthi,Sevrity Tnstrunnent. Borrower can cure such n default and, ffacceleration has occurred, reinstate as provided In Section 19, by causing the action or proceeding to be dismissed with a, oil ng that, in Lender's judgment precludes forfeiture of the Property or otter material impairment of Lender's interest in the Property or rights under this ScculayInstrunent. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous proceeds that are nut applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not 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 to extend time for paynina or otherwise modify amortization of the sums secured by this Security Instrunentby reason ofanydenta ld made bythe original Borrower or any Successors in Interest ofBmI ewer. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver ofor preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrowercovenantsandagrees that Borrower's obligations and liability shall be joint and several. however, any Borrower who co- signs this Security Insuument but does not execute the Nom (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 ofthrs Security Inshument; (b) is not(xxnonallyobligaed to pay the sums secured by Nis 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 of this Security Instrument or the Note without the co- signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Icruder, shall ohtaia all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument artless lender agrees in such release in writing The covenants and a.9 temers of this 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) eoder's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express 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 may not charge tees that are expressly prohibited by this Security Instrument or by Applicable Law. little Loan is subject to a law which sets maximum loan charges, and chat 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 to reduce the charge to the permitted Iimw and (b) any sums NImRASKA-- Slagle Pomily-- Fauoiv Mae /Freddie Min UNIFORM INSTRUMENT 4orm3028 1 /01 1p<ge5of8pagerl 995i(1V oA)n 1541406 oon o(soma,a)