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<br />200707388
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<br />(b) Any such agreements will not affect the rights Borrower has-if any-with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive
<br />certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance
<br />terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the
<br />time of such cancellation or termination.
<br />II. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to ~nd shall
<br />be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's security is not lessened. During such 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
<br />to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds. shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />Such Miscellaneous Proceeds shall 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 applied to
<br />the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower.
<br />In the event of a partial taking, destruction, or Joss 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 equal to or greater than the amount of the sums secured by
<br />this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender
<br />otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous
<br />Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the parti~1 taking,
<br />destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking,
<br />destruction, or loss in value. 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
<br />before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are
<br />then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in
<br />the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within, 30 days
<br />after the date the 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 Instrument, whether or not then due. "Opposing Party" means the
<br />third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to
<br />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 other material impairment of Lender's interest in the Property or rights under this
<br />Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property
<br />or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any
<br />award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender
<br />shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modifY amortization of the sums secured by this Security Instrument by reason of any demand made by
<br />the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of
<br />Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
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<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />
<br />Form 3028 1101
<br />
<br />ITEM 1915L7 (0308)
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<br />(Page 7 of 11 pages)
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<br />GrealDocs '"
<br />To Order Call: 1-800-968.5775
<br />07 -07 -05-012547
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