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<br />200706265
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<br />Insurance and Borrower was required to make sep;lrately designated payments toward the premiums for Mortgage
<br />Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
<br />Insurance previously In effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance
<br />previuusly in effect, from an alternate mortgage insurer selected by Lender. It' substantially equivalent Mortgage
<br />Insurann- coverage is not. available, Borrower shall continue to pay to Lender the amount of the separately designated
<br />payments that were due when the Insurance coverage ceased tn be In effect. Lender will acc.ept. II.se and retain these
<br />payments as a non.refundable loss reserve in lIeo of Mortgage Insuram;e. Such loss reserve shall be non-refundable,
<br />oolwithstanding the fact that the Loan Is uitimately paid In full, and Lender shall not he required to pay Borrower any
<br />Interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance
<br />coverage (in the amount and flJr the period that Lender requires) provided by an Insurer selected by Lender again
<br />becomes available, is obtained, and Lender requires separately designated payments tow,lfd the premiums for
<br />Mortgage Insuranl;e. If Lender required Mortgage Insurance as a condition of making the Loanand Borrower was
<br />required to make separately designated payments toward the premiums for Mortgage Insurance. Borrower shall pay
<br />the premioms required to maintain Mortgage Insorance in effed. or to provide a non-refundable loss reserve, until
<br />lender's requirement for Mortgage Insurance ends In accordance with any written agreement between Borrower and
<br />Lender providing flJr sUl:h termination or until termination is required by Applicable Law. Nothing in this Section
<br />10 affects Burrower's obligation to pay interest. at the 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 the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance In force from time to time, and may enter into
<br />agreements with other parties that share or modll'y their risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and t.he uther party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments llslng any source of funds that the mortgage insurer
<br />may have avallab]e (which may include fonds 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 re<:eive (direltly or indiredly) amouots 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 Insorer's risk In exchange for a share of the premIums paid to the insurer. the arrangement is often termed
<br />"uptive reiIlSuram:e_" Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other tenus 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 refllDd.
<br />(b) Any such agreements will not affect the rights Borrower has - If any - with respect to the Mortgage
<br />Insurance llDder the Homeowners Protection Act of 1998 or any other law. 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 tenninated automatically. and/or to receIve a refund of any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellatlott or termination.
<br />11. Asslgnment 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 erunomkaUy feasible and Lender's security is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold ,'Uch Miscellaneous Proceeds ontll Lender has had an
<br />opportunity to insped soch Property to eosure 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 single disbursement
<br />or in a series of progress payments as the work is completed. Unless an agreement Is made III writing or Applicab]e
<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 Mtscellaneous Proceeds. If the restoration Or repair is not economiully feasible or
<br />Lender's security would be lessened. the Miscellaneous Proceeds shall be applied to the Slims secllfed by this Security
<br />Instrument. whether or not then due, with the excess, if any, paid 10 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, wtth 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 equaltn or greater than the amount
<br />of the sum.s secured by this Security Instrument immediately hefore the partial taking. destrUI:tion, or lu....s in value,
<br />unll'.5s Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by thl' followiJlg fractIon: (a) the total amoont of the sums
<br />secured immediately hefore the partial takIng, destrud\(m, or loss in value dIvide<] hy (b) 'he 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 partlaltaIdng, destruction, or loss in value of the Property in which the falr 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 PrOl;eeds shall be applied to the snms sel:ored by this Security Instrument whether
<br />or not the sums are then due.
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<br />NEBRASKAnSlngle Family..Fannle Mae/Freddie Mac UNIFORM INSTRUMENT. MERS
<br />Form 3028 1/0'- Page 6 of 11
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<br />DocMaglc ~JlJ/f B00-6'9-7362
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