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200706393 Loml No: 070711007 Data 10: 271 Mortgage lnsuwnel:' reimbursl:'s LI:'nder (or any entity that purchases thl:' Notl:') for certain lossl:'s it may incur if Borrower docs not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurane" in for"" from time to time, and may enl"r into ,lgr"eml:'nts with othl:'r partil:'s that shUt" Or modify th"ir risk, or reduce losses. These agrel:'ml:'nts arc on terms and conditions that arl:' satisfactory to the mortgage insurer and th" other party (or parti"s) to th"s" agr""m"nts. Thl:'se agreements may require the mortgag" insur"r to make paym"nts using any sour"e of fund~ that the mortgage insurer may have availabk (whkh may indude funds obtained from Mortgagl:' Insurance premiums). As a result of these agre"m"nts, Lendl:'r, any purchaser of the Note, anoth"r insur"r, any r"insurer, any oth"r "ntity, or any affiliate of any of the foregoing, may r""dve (dir"dly or indirl:'etly) amounts that d"riv" from (or might be ehawctl:'rized as) a portion of Borrow"r's payments for Mortgage InsunuKe, in exchange for sharing or modifying the mortgage insurer's risk, or rl:'ducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a shure of the premiums paid to the insurer, the urwngement is often termed "captive reinsurance." Further: (a) Any such agreements will not all'ect the amounts that 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 they will not entitle Borrower to any rdund. (b) Any such agreements will not anect the rights Borrower has - II' any - with respect to the Mortgage Insurance under the l:!omeowners I)rotection Act of 19911 or any other law. These rights may includc the right to receIve certain disclosures, to relluest and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were uneanled at the time of such cancellation or tennination. II. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Procl:'eds are hl:'reby assignl:'d to and shall bl:' paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restorution or repair of the Property, if tlw restowtion or repuir is economically feasihk and Lendl:'r's security is not kssened. During such repair and restoration period, Lender shull have the right to hold such Miscdl,meous Proceeds until Lender has had an opportunity to inspl:'et such Property to ensure the work has been eompkted to Lendl:'r's satisfaction, providcd that such inspection shall be undertaken promptly. Lender may pay for the repuirs and restoration in a single disbursement or in a series of progress payments as thl:' work is completed. Unkss an agreement is made in writing or Applicabk Law re'luires interest to bl:' paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrowl:'r any interest or earnings on such Miscellaneous Proee"ds. If the restoration or repair is not economically feasibk or Lender's security would be kssencd, the Miscellaneous Proceeds shall be applied to the sums sl:'curl:'d by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Misedlaneous Proceeds shall be applied in the order provided for in Sedion 2. In the 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 the I:'vent of a partial taking, destrudion, or loss in value of [he Property in which the f"ir market value of the Property immediately bdore the partial taking, destruction, or loss in value is e'lu"l to or greater than the amount of thl:' sums sl:'cured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agrl:'e in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Misedlaneous Procel:'ds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in v"lue divided by (b) the fair market value of the Property immediatdy bdorc thl:' partial taking, destroetion, 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 Propcrty in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums sl:'cured immediately bdore thc p"rtial taking, destruction, or loss in value, unless Borrower and Lendcr othcrwise agree in writing, the Misccllaneous Proceeds shall be applil:'d to thc sums secured by this Security Instrument whether or not the sums arc then due. If the Propl:'rty is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in thc next sentence) offers to make an award to settle a d"im for damHges, Borrowcr fails to respond to Lender within 3D days "fter the date the notice is giveu, Lender is authorized to collect and apply thc Misccllaneous Proceeds either to rcstoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. NEBRASKA - Single Famiiy - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 111111111111111111111111111111111111111111l1li111111111111111111111IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIfI]j~lIifrrlill1IIIIilmlllllllt"ll~ijlillfli 11 Pages) P+0070711007+9407+07+11 +NECNVADT ~S\ ~~