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200706265 If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Parly (as defined in the next sentence) offers to make an award to setlle a claim for damages, Borrower falls to respond to Lender within 30 days after the date the notice L, given. Lender is authorized to collect and apply Ihe Mis<:ellaneous Proceed, either to reslllratilln or repair of the Proptlrty Ilr tll the sums securell by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower MIs<:ellaneous Proceeds or the party against whom Borrower has a right of action in regard to MIs<:ellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, Is begun that, in Lender's judgment, could result In forfeiture of the Property or other material impairment of Lender's interest In the Property Or right., onder this Securily Instrumenl. Borrower can l:ore su\:h a default and, if a\:(;eleratIon has occurred, reinstate as provided in Sll\1ion 19, hy l:ausing the a\:tion or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other materiallnlpalrment of Lender's interest in the Property or right, under this Secority Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest In the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Properly shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modillcatiun of amortization of the sums secnred by this Semrity Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Succes.,Ol'S In Interest of Borrower. Lender shall not be required to commence proceedings against any Successor In Interest of Borrower or to refuse to extend time for payment or otherwise modifY amortization of the sums secured by this Securily Instrument by reason of any demand made by the original Borrower or any Successors In Interest of Borrower. Any forbl')Irant;e by Lender In exercising any right or remedy incloding, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or In amounts less than Ihe amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borruwer cuvenants and agrees that Borrower's obligations and llabllily shall be joint and several. However, any Borrower who co-sign. this Sel:ority Instrument but does not execute the Note (a "co-signer"): (a) is co"slgnlng this Securily Instrument only to mortgage. grant and convey the co-slgner's interest In the Property under the terms of this Securily Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to ext.end. modify, forbear or make any au:ommodathms with regard to the t.erms of this Set-'Urity Instrument or the Note without the co-signer's consent. Subject to the provisions of Sedlon 18, any Su\:ces.~or In Interest of Borrower whu assumes Borrower's obligations under this Securily Instrument in writing. and is approved by Lender, shall obtain all of Borrower ' srlght.. and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and Iiabilily under this Sel:urity Instroment unless Lender agrees 10 sUfh release in writing" The \:Ovenants and agreements of this Security Instrument shall bind (except as provided In Section 20) and benefit the successors and assigns of Lender. 14. Loan Chatges. Lender may \:harge Bnrrower fees for servlcl'.' performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Se<:urity Instrument, including. but nllt.llmited 10, attorneys' fees, property Inspection and valuation fees. In regard to any other fees, the absence of express authllrity in this Security Instroment to charge a specific fee III Bnrrllwer shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Securily Instrument IIr by Appli(:able Law. If the Loan is su~ect to a law which sets maximum loan charges, and that law is finally interpreted so that Ihe interest or olher loan I;harges collected or to be wllected in connection with the Loan exceed the pemlltted limits, then: (a) auy such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted Ilndts will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a dife\;t payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment wilhout any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any so\:h refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arL~lng out of such overcharge. 15. Notkes. All notices given hy Borrower or Lender in connection with this Security Instrunlent must be In writing. Any no life to Borrower in wnnectlun with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by ot.her means. Notice to anyone Borrower shall constltule notice to all Borruwers unless Appli\:ahle Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has dl'slgnated a substitute nntice addres.s by notice to Lender. Borrower shall promptly notlry Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of addres.', then Burrower shall only report a change of address through that specified prlll'edure. There may be only one designated notice address under this Securily Instrument at anyone time. Any notice to Lender shall be given by delivering it. or by mailing it by tIrst class mail to Lender's address stated herein unless Lender has designated another address by nollce to Borrower. Any notiee in connection with this Security Instrument shall not be deemed to have been given to Linder until actually re\:elved by Lender. If any notice required by this Sefurity Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Securily instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are su~lect to any requirements and limitations of Applicable Law. Applieable Law might NEBRASKA..Slngle Family-.Fa,..,ie MaelFreddie Mac UNIFORM INSlRuMtNT . MERS Form 3028 1/01 Page 7 of 11 DocMligic ~ 800-649- 1362 www.docmagIc.r:om