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<br />200606473
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<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses It may Incur
<br />If Borrower does not repay the Loan as agreed. Borrower Is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such Insurance In force from ttme to time, and may enter Into
<br />agreements with other parttes that share or modify their risk, or reduce losses. These agreements are on terms and
<br />condlttons that are sattsfactory to the mortgage Insurer and the other party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage Insurer
<br />may have available (which may Include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, or any affiliate of any of the foregoing, may receive (dtrectly or tndirectly) amounts that derive from (or might
<br />be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying
<br />the mortgage Insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share
<br />of the Insurer's risk In exchange for a share of the premiums paid to the Insurer, the arrangement Is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not Increase the amount Borrower wUl owe
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(h) 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
<br />to receive certain disclosures, to request and ohtain canceUatlon of the Mortgage Insurance, to have the
<br />Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Property Is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair Is economically feasible and Lender's security Is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to Inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />such Inspectton shall be undertaken promptly. Lender may pay for the repairs and restoration In a single disbursement
<br />or In a series of progress payments as the work Is completed. Unless an agreement Is made in writing or Applicable
<br />Law requires Interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair Is not economically feasible or
<br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with the excess, lfany, paid to Borrower. Such Miscellaneous Proceeds shall
<br />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
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br />of the sums secured by this Security Instrument Immediately before the partial taking, destruction, or loss in value,
<br />unless Borrower and Lender otherwise agree In wrlttng, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fractton: (a) the total amount of the sums
<br />secured Immediately before the partial taking, destruction, or loss In value divided by (b) the fair market value of the
<br />Property Immediately before the partial 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
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums
<br />secured immediately before the partial taking, destruction, or loss In value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br />or not the sums are then due.
<br />If the Property Is abandoned by Borrower, or if, after nottce by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default If any actton or proceeding. whether civil or criminal, Is begun that. In Lender's
<br />Judgment, could result In forfeiture of the Property or other material Impairment of Lender's interest in the Property
<br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred. reinstate
<br />as provided tn Section 19, by causing the actton or proceeding to be dismissed with a ruling that, In Lender's
<br />judgment, precludes forfeiture of the Property or other material Impairment of Lender's Interest In the Property or
<br />rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairment of Lender'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
<br />order provided for In Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modlficatton of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />Successor In Interest of Borrower shall not operate to release the liability of Borrower or any Successors In Interestgof Borrower. Lender shall not be required to commence proceedings
<br /> against any Successor In Interest of Borrower
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<br />NEaRASKAnSingle FamilynFannle MaelFreddie Mac UNIFORM INSTRUMENT
<br />Form 3028 1101 Page 6 of 11
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