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<br />200707305
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<br />4500029552
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<br />affiliate of any of the foregoing, may receive (directly or indirectly) ~llllounts that derive from (or might be characterized as) a
<br />portion of Borrower's payments for MOligage Insurance, in exchange It)r sharing or modifying the mortgage insurer's risk, or
<br />reducing losses. If such agreement provides that an affiliate of Lender Likes a share of the insurer's risk in exchange for a share of
<br />the premiums paid to the insurer, the arrangement is often termed "captive reinsurance" Further:
<br />(a) Any such agreements will not a ff('ct the amounts that BOlTower has agreed to pay for Mortgage Insurance, or
<br />any other terms of the Loan. Such agreenll'nts will not increase thl' amount BOlTower will owe for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Bonom'r has - if lIny - with respect to the Mortgage Insurance
<br />under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain
<br />disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated
<br />lIutomatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such
<br />cancellation or termination.
<br />11. Assignment of Miscellaneous Pro(,eeds; Forfeiture. All M iscellaneOLlS Proceeds are hereby assigned to and shall be
<br />paid to Lender.
<br />If the Property is damaged, such Miscdlaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lcnder's security is not lessened. During sLlch repair and restoration period,
<br />Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to
<br />ensure the work has been completed to Lender's satisfaction, provided Ihat such inspection shall be undertaken promptly. Lender
<br />may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed.
<br />Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender
<br />shall not be required to pay Borrower any interest or earnings on such \1isccllaneous Proceeds. If the restoration or repair is not
<br />economically feasible or Lender's security would bc lessened, thc Miscellaneous Procecds shall be applied to the sums secured by
<br />this Security Instrument, whether or not thcn due, with the excess, if any, paid 10 Ilorrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a total taking, destrucl ion, or loss in value or tlie Property, the Miscellaneous Proceeds shall be applied to
<br />the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value ofthe Property
<br />immediately before the partial taking, destruction, or loss in value is cqual to or greater than the amount of the sums secured by
<br />this Security Instrument immediatcly before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the sums secured by this Security Instrument shall bc reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums sceured immediately before the patiial taking, destruction, or
<br />loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value.
<br />Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before
<br />the partial taking, destruction, or loss in value, Ilnless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned
<br />by Borrower, or it: after notice by Lender to Borrowcr that the Opposing Party (as detined in the next sentence) offers to make an
<br />award to settle a claim for damages, Borrower li\i Is to respond to Lender within 30 days aftcr the date the notice is given, Lender is
<br />authorized to collect and apply the Miscellaneous Procceds eithcr to restoration or repair of the Property or to the sums secured by
<br />this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous
<br />Proceeds or the party 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 judgment,
<br />could result in forfeiture of the Property or olher material inlpairment of Lender's intercst in the Property or rights under this
<br />Security Instrument. Borrower can cure sueh a delilult and, if Hecelcrntion has occurred, reinstate as provided in Section 19, by
<br />causing thc action or proceeding to be dismissed with a ruling that, in Lender's .iudgrncnt, preeludes forfeiture of the Property or
<br />other material impairment of Lender's interest in the Proper1y or rights under Ihis Security Instrument. The proceeds of any award
<br />or claim for damages that are attributable to tile impairment of Lender's intcrest in the Property are hereby assigned and shall be
<br />paid to Lender.
<br />All MiscellaneoLls Proceeds that arc not applied to restoration or rep~\ir of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forb('a I":IIU,e By Lender Not a 'Vaiwr. Extension of the time for payment or modification
<br />of amortization of the sums secured by this Security Instrmnent granted by Lender to Borrower or any Successor in Interest of
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<br />NEBRASKA-- Single Family --Fannie Mae/Freddie Molc UNIFORM INSTRUMENT
<br />'l!?j) 338.25 />uge74/1
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<br />Form 3028 1/01
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