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200212166. LOAN ll. 22090147
<br />divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance
<br />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 Property
<br />immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before
<br />the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the
<br />next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the
<br />date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the
<br />Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party " means the third party that
<br />owes Borrower Miscellaneous Proceeds or the party against whom Borrower 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 judgment, could
<br />result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security
<br />Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the
<br />action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
<br />impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for
<br />damages that are attributable to the impairment of Lendei 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 the order provided
<br />for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of
<br />amortization ofthe sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest ofBorrower
<br />shall not operate in release the liability ofBorrowerorany Successors in Interest ofBorrower. Lender shall Rothe requiredto commence
<br />proceedings against any Successor in Interest ofBorrower or to refuse to extend time for payment or otherwise modify amortization
<br />ofthe sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest
<br />of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of
<br />payments from third persons, entities or Successors in Interest ofBorrower or in amounts less than the amount then due, shall not
<br />be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrowercovenants and agrees that Borrower's
<br />obligations and liability shall bejoint and several. However, anyBorrowerwho co -signs this Security Instrumembut does not execute
<br />the Note (a "co-signer"): (a) is co- signing this Security Instrument only to mortgage, grant and convey the co- signer's interest in
<br />the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
<br />Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations
<br />with regard to the terms of this Security Instrument or the Note without the co- signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest ofBorrower who assumes Borrower's obligations under this
<br />Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security
<br />Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender
<br />agrees to such release in writing. The covenants and agreements ofthis Security Instrument shallbind (except as provided in Section
<br />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's default, for the
<br />purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to,
<br />attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security
<br />Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not
<br />charge fees that are expressly prohibited by this Security Instrument or by Applicable Law.
<br />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
<br />loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall
<br />be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower
<br />which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refundby reducing the principal owed
<br />under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial
<br />prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's
<br />acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower ought
<br />have arising out of such overcharge.
<br />15. Notices. All notices given by Borroweror Lender in connectionwith this Security lnstrumentmustbe in writing. Any notice
<br />to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class
<br />mail or when actually deliveredto Borrower's notice address ifsentbyother means. Notice to anyone Borrower shall constitute notice
<br />mall Bonowersunless Applicable Law expresslyrequiresotherwise. The noticeaddress shallbetheProperty AddressunlessBorrower
<br />has desigmtedasubstitutenoticeaddressby noticetoUnder. Borrowershall promptly notify LenderofBorrower's change ofaddress.
<br />If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address
<br />through that specified procedure. There maybe only one designated notice address under this Security Instrument at any onetime.
<br />Any notice to Lender shall be givenby delivering it orby mailing it byfirstclass mail to Lender's address stated herein unless Lender
<br />has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed
<br />to have been given to Lender until actually received by Lender. Ifany notice required by this Security Instrument is also required under
<br />Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement Ruder this Security Instrument.
<br />16. Governing Law;Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the
<br />law of thejurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject
<br />to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by
<br />contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that
<br />any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other
<br />provisions of this Security Instrument or the Note which can be given effect without the conflicting provision.
<br />As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or
<br />words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word' `may"
<br />gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Now and of this Security Instrument.
<br />18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property"
<br />means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transf, red i a n
<br />NEBRASKA — Single Family- -Famde MeelFmddie Mac UNIFORM INSTRUMENT Initials
<br />Form 30281/01 Page 6 of 8 NEEDEED
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