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200700676 insurancc and Borrower was required to make separately designated payments toward the premiums for Mortgagc Insurance, Borrowcr shall pay thc prcmiums rcquircd to obtain covcragc substantially cquivalcnt to the Mortgage Insurance previously in effect, at a cost substantially equivalent to tbe cost to Borrower of tbe Mortgage Insurance previously in effect, from an alternate mortgagc insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is nnt available, Borrower sball continue to pay to Lender tbe amount oftbe separately designated payments that wcrc duc when thc insurance coverage ceased to bc in eITect, Lcndcr will accept, usc and rctain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance, Such loss reserve sball be non-refundable, notwithstanding Ihe fact that the Loan is ultimately paid in full, and Lender shall not bc required to pay Borrnwcr any interest or earnings on such loss rcserve, Lendcr canna longer require loss reserve paymcnts if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lendcr requires separately designated payments toward the premiums for Mortgage Insurancc. If Lendcr rcquired Mortgage Insurance as a condition of making tbc Loan and Borrower was required to make separately designated paymenls toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affecls Borrower's obligation to pay interest at the rate providl,d in the Note. Mortgage Insurance reimburses Lendcr (or any ('ntily that purcbases Ibe Nole) for certain losscs it may incur if Borrower docs not repay tbe Loan as agreed. Borrower is not a party to tbe Mortgagc Insurance. Mortgagc insurers evaluate their total risk on all surb insurancc in forre from timc 10 timc. and may enter into agreements witb othcr parties I.hat sharc or modify Iheir risk, or redure losses. Tbesc agrccm(~nts arc on lerms and conditions that arc satisfactory to the mortgage insurcr and thc olher party (or partics) to these agreemcnts. Thcsc agreements may requirc thc mortgagc insurer to make payments using any source of funds that the morlgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums) . As a result of these agreements. Lender, any purchaser of the Note, another insurer, any reinsurer, any other enllty, or any affiliate of any ohhe foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance. in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer. the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts tbat Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance. and tIley will not entitle Borrower to any refund. (b) Any such agreements will not affect tile 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 tile Mortgage Insurance terminated automatically. and/or to receive a refund of any Mortgage Insurance premiums tIlat were unearned at the time of such cancellation or termination. 11. Assignment of MisceUaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged. such Miscellaneous Proceeds shall be applied to restoration or repair of the Property. if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period. Lender shall have the right to hold such Miscellaneous Proceeds until Lender 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 disbursement or In a series of progress payments as the work Is completed. Unless 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 Borrower 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 Ihe sums secured by this Security Instrument. whether or not then due. with tbe exress. if any. paid to Borrower. Surh Miscellaneous Proceeds sball he applied in the order provided for in Section 2. In Ib(, 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 Ihe event of a partial taking, destruction. or loss In value of the Property in which the fall' market value of the Propcrty Immediately before the partial taking. destruction. or loss in value is equal to or greater than the amount of the sums secured by this Serurity Instrument immediately before tbe partial taking, destruction, Or loss in value, unless Borrower and Lender othcrWise agree in writing, Ihe sums secured hy Ihis Security Instrument shall be reduced by the amount of the Mlsrellaneous Proceeds multiplied by tbe following frartion; (a) Ihe tOlal amount of the sums secured immediately before the partial taking, destruction, or loss In value divided by (b) the fall' market value ohhe Property Immediately before thc partial taking, destruction. or loss in value. Any balance shall be 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 berorc the partial taking, destruction. or loss in value Is less than the amount of the sums secured illlmediately before tbe partial taking, destrurlion. or loss in value. unless Borrower and Lender otherwise agree in writing. the Misrellaneous Proceeds shall be applied to the SUIllS secured by this Security Instrument whether or nOI the SUlllS are then due. NEBRASKAuSingle FamilYuFannle Mae/Freddie Mac UNIFORM INSTRUMENT. MERS Form 3028 1/01 Page 6 of 10 DocMagic f!lR!i;(J'{J'[1l.1!:: 800-649-1:162 www.docmagic.com ""~ , \