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200213110
<br />'PE- RECORDED
<br />200214698
<br />risk, or reducing losses. If such agreetneut provides 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 tonned "captive reinsurance." Fortner:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,
<br />or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage
<br />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 />reeeelve certain disclosures, in 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 Prx:cols are hereby assigned to and shall
<br />be paid to Lender.
<br />If the Properly is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Leader's sounity is not lessened. During such repair and restoration period,
<br />Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property
<br />to ensme the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is imile in writing or Applicable Law requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall not he required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, 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 />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 applied to
<br />the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Bomower.
<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 die ammat of the sums
<br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums seemed by this Security Instrument shall be reduced by the amount of the
<br />Miset4huieous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured inonediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fah' 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 less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, mlcss Borrower and Leader otherwise agree in writing,
<br />the Miseellamwus Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums arc
<br />then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower thus the Opposing Party (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30
<br />days after the date the notice is given, Leader is authorized to collect and apply the Miscellaneous Proceeds either to
<br />restoration or repair of the Property or to the sums seemed by this Security Instrument, whether or not then due. "Opposing
<br />Party" means the third party that owes Borrower Miscellaneous Proceeds in the party against whom Borrower has it right of
<br />action in regard to Miscellan sous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is began that, in Lender's judgment,
<br />.old result in forfeiture of the Properly or other material impertinent of Lenders interest in the Property or rights under this
<br />Security Instrument. Borrower can cure such a default and, if accelemtim has occurred, reinstate as provided in Section 19,
<br />by causing the action or proceeding to he dismissed with a ruling tat, in Lender's judgment, precludes forfeiture of the
<br />Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. 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 />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
<br />provided for in Section 2.
<br />12. Burrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />Successor in Interestpt Bo4oler shall not operate to release the liability of Borrower or any Successors in Interest of
<br />NRRRASKA— Single Family —Fanak Mia F,r die Mac UPRFORM RiSTRU MT - Form 30281/01
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