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200209247
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or roughly their risk, or reduce losses. These agreements are on terms andomilitions
<br />that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may
<br />require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available
<br />(which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, anypurchaser of the note, another insurer, any reimureq any other entity,
<br />or affiliate of anyy of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion ofBorrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses. if such agreement provided that an affiliate of Lender takes a share of the insurer's risk in exchange
<br />for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />Insurance, or any other terms of the Loan. Such agreements wal not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has — if any — with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds areherebyassigned m and
<br />shall be paid to Under.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if
<br />the restoration or repair is economically feasible and lender's security is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous
<br />Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, 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 market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amountofthe sums
<br />Under otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following traction: (a) the total amount ofthe sums secured imm ediatelybefirre the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is ess than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and lender otherwise agree in writing,
<br />he Miscellaneous Proceeds shall be applied to the sums secured by this Securitylnstrument whether is not the sums are then
<br />due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Burrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower tails to respond m Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either
<br />in restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third patty that owes Borrower Miscellaneous Proceeds or the party against whom Borrower
<br />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 that, in lender's
<br />of die Propertyor other material impairment ofLender's interest in the Property or rights under this Securitylnstrument. The
<br />proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are
<br />ereby assigned and shall be paid m Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />Not a Waiver. Extension of the time for
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Inleres
<br />Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to n
<br />time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason
<br />made by the original Borrower or any Successors in Interest ofBurruwer. Any forbearance by Lender me=
<br />or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or
<br />Interest of Borrower m in
<br />amounts
<br />exercise of any right or remedy.
<br />as Bound. Borrower covenants and agrees
<br />any Borrower who co-signs this Security
<br />ecurity, Instrument only to mortgage, grant
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Now without the co-
<br />signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest elf Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />this Security Instrument Borrower shall not be released from Borower's obligations and liability under this Secreiry
<br />Instrument unless Lender agrees m such release in writing. The covenants and agreements of this Security Instrument shall
<br />bind (except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower',
<br />default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including,
<br />but not limited m, attorneys' tees, property inspection and valuation fees. In regard to any other fees, the absence of express
<br />authority in this Security Instrument to charge a specific fee to Borrower shall not he construed as a prohibition on the
<br />charging of such fce. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable
<br />law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the
<br />interest or other loan charges collected or in be collected in connection with the Loan exceed the permitted limits, then: (a)
<br />any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums
<br />N IlRASKA Single Family Fannie Mac Fretldie Mac I1MF0RM INSTROMRNT Form3028 1 /01 (page 5 f8p<gea)
<br />WSaCyoac) m762
<br />GOTO(0002b7%)
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