|
<br />200707117
<br />
<br />In the event of a pm1ial takillg, destruction, Or loss ill value of the Property in which the fair market. vnllle of the Property
<br />immediately hefore the partial taking, nc,stnlCtion, or loss in value is "qual to or greater than the amount of the sums secured hy
<br />this Security Iustnllllent immediately hefore the partial taking, destl11ction. or loss in value, unless Borrower amI Leuder
<br />otherwise agree in wriuug, the snms secured by this Sccnrity tnstnlll1ent shalt be reduced by the amount of the MiscellauMus
<br />Pr\JCeeds Illultiplied hy the following fraction:. (a) the total amount of the SumS :;ecured immediately before the partial taking,
<br />u"struetion, or loss in value divid~u by (h) the fair market value of the Property immediately before the partial taking,
<br />destmction, or loss in value. Any balance shall be puid to BOlrow"r.
<br />In the event of a partial taking, destl11ction, or loss in value of the Property ill which Hie fair market value of the Propcl1.y
<br />unloeuiately before tbe partial taking, dcstnlction, or loss in value is less than the amount of the SUUlS secured. immt:diately
<br />before the partial tuking, destruction, or loss in valne, nllless Borrower and Lende, otherwise ugree in writing, the
<br />Miscellaneous Proceeds shall be applied to the SUIIIS secured by this Security Instrument whether or not the SUIIIS are
<br />theu dUe.
<br />If HI" Property is abandoned hy Borrower, or if, "fter notice by Lender to Borrower th~t the Opposing Party (us defined in
<br />the next sentence) offers to make an ~ward to settle a claim for damages, Borrower fails to respond to Lender within 30 days
<br />after tlle datc thc notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Property or to the sums secured by this Security Iustnllllent, whether or not then due. "Opposing Party" meanS the
<br />third party that owcs Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of aCtiOll in regard to
<br />Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whothcr civil or criminal, is begnIl that, ill Lender's judgment,
<br />could result. in fnrfeiture of thc Property 01' other material impairment of Lender's .Ulterest in the Property or rights under this
<br />Security Instrument. Borrower Call cure such u default and, if acceleration has occurred, reinstate as provided in S""tion 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgmcnt, prccludes forfeiture of t.he Property
<br />or other material unl'ainnent of Lender's interest in the Property or rights under this S<:curity Instrument. The proceeds of any
<br />uward or dairn for damages that arc atl:dbutRhle to the impalrment of Lender's interest in the Property are hereby assigued and
<br />shAll be paid to l.ellder.
<br />All Miscellaueous Proc"eds tbut are not applied to restoration or repair of 11", Property shall be applied in the order
<br />provided fol' ill Section 2.
<br />12. Borrower Not Rel"ll~ed; J,'orbearance By Lender Not a Waiver. Extcnsion of t.he ti111e for payment. or
<br />modification of amortization of the sums secured by this Security Instrument gnUlted by Lender to Borrower or !lny Succcssor
<br />in Interest of Bonower shall not operate to release Ill" liability of Borrow",' OJ" any Successors in Interest of Borrower. Lender
<br />shall nOl1>e required to commence proceedings a.gainst allY Successor in Interest of Bon'ower or to refuse to extend time for
<br />payment or otherwise ulOdify mllortizatioll of the sums secured by this Security Instrument by reason of any demmld made by
<br />the original Borrower or any Successors in Inter",.t of Borrower. Any forbearance by Lcnder in exercising any right or remedy
<br />including, without limitation, Lcnder', acceptance of payment.s from third persons, e.ntitks or Successors in Interest of
<br />Borrower or ill amounts less than the amonnt. then due, shall not be a waiver of or preclude the exercise of any right nr remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower "uv,mauts and agrces that
<br />Borrower's obligations und liubility shall be joint and several. However, any Borrower who co. signs this Security Instnllllcnt
<br />but does not execute the Note (a "co-signcr"); (a) is co-signing this Sccurity Instrument only to mortguge, gumt and convey the
<br />co",igw:r', iuter"st in the Property under the terms of this Security Instnllllen1.; (b) is not persoually obligatcd to pay
<br />the SUUlS secured by this Security Ins!Jl1ment: and (c) agrees thut. Lemler and any other Borrower can agree to extend,
<br />uwdify, forbeur or make any aCCOlTIlTIodations with regard to the terms of this Security Instnllueut or the Note without the
<br />co~sjgller'H con.sent.
<br />Subjcct to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under
<br />this Security Instrument in writing, and is apprnved hy Lender, shall obtuin all of Borrower's rights and benefits under this
<br />Security Instrument. Borrower sball not be released from Borrower's obliga1ions and liability nnder tilis Security Instrumcnt
<br />uuless Lender agrees to snch release in writing. The covenunts und agreements of this Sccmity Instrument shall bind (except us
<br />provided in S<:ction 20) and benefit the successors and assigns of Lender.
<br />14. LOlm Chargl'.8. Lender may charge Borrower fees for services performed in connection with Borrower's default, for
<br />the pnrpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but nOt.linlited
<br />to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express autllOrity in this
<br />Security Tnstnlment to charge a specitle fee to Borrower shall not be constl11ed us a prohihition on the charging of such fee.
<br />Lender may not churge fees that are cxpressly prohibited by this Security Instrument 01' by Applicable Law.
<br />If the Loan is subject to a law which sets muximum loun charges, and that law is finally int.erpreted so that the interest or
<br />oilier loan charges collected Or to be coll""ted in cUllnection with the Loan excecd the permitted limit.s, then; (a) "oy ,nch loan
<br />
<br />NEBRASKA-.-Sin~1e F.",Uy--Fmmle Mae/Freddie ~1"c UNlJ!ORMINSTRUMENT
<br />
<br />ITF.M H69S1 B (03[Jl::l)-MERS
<br />
<br />(Pag. 8 of 12 pag..)
<br />
<br />Form 3028 1101
<br />OREAnAND.
<br />Tg On1er 1:111: 1-00o-53o-939.ll 0 kl.:c1i1a-1eH1S1
<br />
<br />~
<br />fJ
<br />
|