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200214198 Mortgage bs..ces 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 is to the mortgage insurer and the other party (or parties) m 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 finds obtained from Mortgage Insurance premiums). As a result .(these agreements, Lender, any ppurchase rof the note, another insurer, any reinsures, any coact ealily, or affiliate of any ofthe foregoing, may receive (direct y.r indirectly) amounts that derive from (or might be characterized as) a portion oCBurrower's payments for Mortgage Insurance, in exchange for sharing or modifying the rnorlgage insurer's risk, or redci ung losses. Ifsuch agreement provided that an affiliate oflender rakes a share ofthe insurer's risk in exchange for a share ofthe premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: lot Ars such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terns 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 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. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds a rcherebyassignedtoand shall be paid to Lender. Iffi e Property is damaged, such Miscellaneous Proceeds shall be applied to resoranon or repair ofthe Propery. if the restoration or repair is economically feasible and Lender's security is not lessened. Buring such repair and restoration period, Leader shall have the right to hold such Miscellaneous Proceeds until Leader has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single dish to semen or in a series of progress payments as the work is completed. Ilnlrss 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 Burrower 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 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. 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 loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destmction, or loss in value is equal to or greater than the amount ofthe sums secured by this Security Instrument immediately before the partial taking, destruction, m loss in value, unless Borrower and Lender otherwise agree in writing, the suns secured by this Security Instrument shall he reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount ofthe sums secured immediately betbre the partial taking, destruction, or loss in value divided by(b) the Pairmarket value ofthe Property immediately before the partial taking, destruction, or loss in value, Any balance shall be paid to Bon'ower. In the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value of the Property immediately before the Partial faking, 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 whetherornot thesums are then due. 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, Borrower fails m respond to Lender within 30 days after the date the notice is given, leader is authorized to collect art Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured b(yy this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miseellahreous Proceeds or the party against whom Borrower has a right of action in regard to 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 of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, ifaccelemtion has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lcnder'sjudgmenl, 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 attributable to the impairment of Tender's interest in the Property are hereby assigned and shall be paid to lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in thcordcr provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a waiver. Extension of the time for payment or modification of amortunitam, ofthe sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall riot 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 Bo twos ei or to refuse to extend time for payment or otherwise modify unionization ofthe sums secured by this Security Instrument byreasnn nfanydemand made bythe original Borrower or any Successors in Interest of Borrower. Any forbearance by tender in excacring anyright 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 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 Insnument but does not execute the Note (a "co-signer': (a) is co- signing this Security Insournem onl y to mortgage, grant and convey the co-signer's interest in the Property under the terms ofthis Security Instrument, (b) is not personally obligated to pay the sums secured by this Security Insnument; and (c) agrees that Lender and any other Borrower can agree to extend modify, forbear or make any accommodations with regard to the teens ofthis Security Insnument or the Note without the co- signer's consent. Subject to the provisions of Section IS, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by lender, shall obtain all uCBorrcover's rights and benefits under this Security Instrument. Borrower 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 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 ofprnlechng Lender's interest in the Property and rights under this Security Instrument, including, butnol liahited to, attorneys' fees, property inspection and valuation fees- In regard to any other fees, the absence ofexp ess authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the chargingoCsoch fee. Leader may not charge fees that are expressly prohibited bythis Svvarily lnshumentor by 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, Then '. (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to Ire pemritled limiq audit) any sums NEBRASKA — Single Family— Fannie MaelFreddie Mac UNIFORM INSTRUMENT For. 302K 1 /01 Ipagn S UfS p<lyus) 9]5e.CV(1 03) G1'1'7 i i() 10r110U]l 11OI