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<br />200702602
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<br />Any amounts disbursed by Lender under th is Section 9 shall become additional debt ofBoITower secured by
<br />this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall
<br />be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If
<br />Borrow~r aC'l~ires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the
<br />merger In wntmg.
<br />10. Mortgage Insurance. [fLender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the
<br />Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously
<br />provided such insurance and Borrower was required to make separately designated payments toward the premiums
<br />for Mortgage Insurance, Borrower shall pay the premiums reqUIred to obtain coverage substantially equivalent to the
<br />Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage
<br />Insurance previously in ellect, from an alternate mortgage insurer selected by Lender. If substantially equivalent
<br />Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount ofthe separately
<br />desi,gnated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and
<br />retam these payments as a non-refundable loss reserve in lieu ofMort~age Insurance. Such loss reserve shall be non-
<br />refundable, notwithstanding the fact that the Loan is ultimately paid 111 full, and Lender shall not be required to pa>::
<br />Borrower any interest or earnings on such loss reserve. Lender Clln no longer require loss reserve payments If
<br />Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected
<br />by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the
<br />premiums for Mort&age Insurance. If Lender required Mortgage Insurance as a condition of ilia king the Loan and
<br />Borrower was reqUIred to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable
<br />loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement
<br />between Borrower and Lender providing lor such termination or until termination is required by Applicable Law.
<br />Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage I nsurance 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 time to time, and may enter
<br />into agreements with other parties that share or modiJy their risk, or reduce losses. These agreements are on terms
<br />and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. 111ese
<br />agreements may require the mortgage insurer to make payments using any source offunds that the mortgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result ofthese agreements, Lender, any purchaser oHhe note, another insurer, any reinsurer, any other
<br />entity, or al11liate of any ofthe foregoin/?, may receive (directly or indirectly) amounts that derive from (or mi~ht be
<br />characterized as) a portion of Borrower s payments for Mortgage Insurance, in exchange fur sharing or modiJying the
<br />mortga~e insurer's risk, or reducing losses. Ifsuch agreement provided that an affiliate of Lender takes a share oHhe
<br />insurer s risk in exchange lor a share ofthe premiums paid to the insurer, the arrangement is ollen termed "captive
<br />reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts thnt Bo....ower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the nmoulIt Borl'Owerwill owe
<br />for Mortgage Insurance. and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights BOl'rower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These l'ights may
<br />include the right to receive certain disclosures, to request and obtain cancellation ofthe Mortgage Insurance,
<br />to have the Mortgnge Insurance terminated automatically, and/or to receive n refund of any Mortgnge
<br />Insurance premiums that were unearned at the time ofsuch cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Pl'Oceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Propert~ is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br />Property, ifthe restoratIOn or repair is economically feasible and Lender's secunty is not lessened. During such repair
<br />and 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 promptly. Lender may pay for the repairs and restoration in a sin~le
<br />disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writmg
<br />or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay
<br />Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by
<br />this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous
<br />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
<br />be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to
<br />Borrower.
<br />]n the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value of
<br />the Property immediately before the partial takin~, destruction, or loss in value is equal to or greater than the amount
<br />ofthe sums secured by this Security Instrument Immediately before the partial takmg, destruction, or loss in value,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be
<br />reduced by the amount ofthe Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount ofthe
<br />sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value
<br />of the Property immediately before the partial taking, destruction, 01' loss in value. Any balance shall be paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value ofthe Property in which tho lair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount ofthe 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 />Ifthe Property is abandoned by Borrower, or if. after notice by Lender to Borl'Ower that the Opposing Party
<br />(as 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 aller the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair ofthe Property or to the sums secured by this Security Instrument, whether or
<br />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 action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture ofthe Property or other material impairment of Lender's interest in the Property
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<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRlJMENT
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<br />Fnrm 3028 I/O I (page 5 of 8 pages)
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<br />17213,CV (3/06)
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<br />01-2112
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<br />Creative Thinking, Inc.
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<br />J.buJ
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<br />TVJ
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<br />GOTO(OOOba7fJ)
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