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<br />200607614
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<br />Insurance previousiy in efl'ect, at a cost substantially equivaient to the cost to Borrower of the Mortgage Insuranre
<br />previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage
<br />Insurance coverage is not availabie. Borrower shall cominue to pay to Lender the amowlt of the separately designated
<br />payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain !hese
<br />payments as a nOlHefundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable,
<br />notwithstanding the fart that the Loan is ultimately paid in full. and Lender shall not be required to pay Borrower any
<br />interest Or eamings on such ioss reserve. Lender can no longer require loss reserve paymems if Mortgage Insurance
<br />coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again
<br />becomes available, is obtained, and Lender requires separately designated payments toward !he premiums for
<br />Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
<br />required to make separately designated payments toward the premiums for Mortgage Insurance. Borrower shall pay
<br />the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until
<br />Lender's requiremem for Mortgage Insurance ends in accordance willI any written agreement between Borrower and
<br />Lender providing for such termination or until termination is required by Applicable Law. No!hing in this Section
<br />10 affects Borrower's obligation to pay imerest at !he rate provided in the Note.
<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 !he Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such Insuranre in force from time to time, and may enter into
<br />agreements with o!her parties !hat share or modify !heir risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage iosurer 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 (directiy or indirectly) amounts that derive from (or might
<br />he 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 exrhange 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 will owe
<br />for 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 iaw. These rights may include the right
<br />to receive certain disclosures, to request and obtain cancellation 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 !he Property is damaged, such Miscellaneous Proceeds shall he applied to restoration or repair ofthe 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 inspection shall be undertaken promptiy. 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 !he restoration or repair is not economically feasible or
<br />Lender's security would be lessened. !he Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br />Instrument. whether or not then due. with !he excess. if any. 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 />!he 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 !he partial taking. destruction. or loss in value,
<br />unless Borrower and Lender o!herwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (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 />III !he event of a partial taking. destruction. or loss in value of the Property in which !he fair market value of
<br />the Property immediately before the partial taking, destruction. or Joss in value is less than the amount of the sums
<br />secured immediately before !he partial taking, destruction, or loss in value, ullless Borrower and Lender otherwise
<br />agree in writing, !he Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br />or not !he sums are !hen due.
<br />If the Property is abandoned by Borrower, or if, aUer notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to seule a claim for damages, Borrower fails to respond to
<br />Lender within 30 days after !he date the nutice .is giyen, L,ellder!r;."llthor~,~9~!;lct~.tPe.Mjscellilneous
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<br />Borrower Initials:
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<br />NEBRASKA:.Single Fa
<br />Form 3028 1/01
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<br />die Mac UNIFORM INSTRUMENT. MERS
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