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200708157 . In. the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property Imme<;llately before t~e part.ial taking, destructio':l, or I~ss in value i~ equal to or greater than the amount of the sums secured by this ?ecu.r~ty Instrument Immediately b~fore th~ partial taking, destruction, or loss In value, unless Borrower and Lender otherwise agree In writing, th~ sums ~ecured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by ~he following frac~lon: (a) the total amount of the ;sums ~ecured immediately before the partial taking, destruction, or loss in value diVided by ~b) the fair market value of the Property Immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. . In. the event of a parti,al tak!ng, destruct,ion, or loss, in valu~ of the Property in which the fair market value of the Property Immedl~tely b,efore the pa.rtlal takIng, ~estructlon, or loss In value IS less than the amount of the sums secured immediately before the partial taking, destruction, or loss In value, unless Borrower and Lender otherwise agree in writing the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due' If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next senten<?e) ?ffers to make al) award t.o settle a claim for damages, E;lorrower fails to respond to Lender within 30 days after the date the notice IS given, Lender IS authorized to collect and apply the Miscellaneous Proceeds either to restoration 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. B~mowe~ 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 rights under this Security Ins~rument. Borr~wer can c~re ;such a ~efault ~nd, if ac.celeratio~ h.as occured, reinstate as prOVided in Section 19, by causing the ~ctlofl or proceeding t~ ~e dlsml~sed With a ruling th,at, In Lender ~ judgme,nt, precludes forfeiture of the Property or other material Impairment of Lender s Interest In the Property or rights under this Security 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 Property 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 modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors 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 Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of 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. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security 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 extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorney's fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any 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 limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charQe is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices Qiven by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection 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 other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one desiQnated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender unti actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security 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 ~roperty is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. A f- Jf- NEBRASKA-$ingl. F..mlly-F..nnl.. M....tFr"ddi" M.." UNIFORM INSTRUMENT 3028 NE DOT 01101 PGS Form 3028 1/01 (pag.. 5 017 p"ges)