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200709660 In the event of a partial taking, dcstruction, or los~ i,tl v(llqe I)f the Property in which the fair market value of thc Property immcdiatcly before the partial taking, destruction, or loss in value is equal to or grcatcr than the amount of the sums secured by this Security Instrument immediately before the partial taking, dcstruction, or loss in value, unless Borrower and Lcnder otherwise agree in writing, the sums sccured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured illunediately before the partial taking, destruction, or loss in valuc 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 partial taking, dcstruction, or loss in value of the Property in which the fair market value of the Propcrty illunediately before the partial taking, destruction, 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 thc swns sccured by this Security Instrument whether or not the swns are thcn 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 sentence) offers to make an award to settlc a claim for damages, Borrower fails to respond to Lender within 30 days aftcr the date the notice is given, Lender is authorized to collcct and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the swns secured by this Security Instrwnent, whcthcr or not then due. "Opposing Party" means the third party that owcs Borrowcr Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgmcnt, could result in forfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instrwnent. Borrower can cure such a default and, if acceleration has occurrcd, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other matcrial impainllent of Lcnder's interest in the Property or rights under this Security Instrwncnt. The proceeds of any award or claim for damages that are attributablc to the impainnent of Lender's interest in the Property arc 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. Extcnsion of the time for payment or modification of amortization of the swns secured by this Sccurity 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 bc rcquircd to COllUllcnce proceedings against any Successor in Intcrcst of Borrowcr or to refuse to extend time for payment or otherwise modify amortization of the swns secured by this Security Instrwnent by rcason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbcarance by Lender in exercising any ri~ht or remedy including, without limitation, Lender's acceptancc of payments from third persons, entities or Successors 111 Intcrest of Borrower or in amounts less than the amount thcn 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. Howcver, any Borrower who co-signs this Security Instrwllent but does not execute the Note (a "co-signer"): (a) is co-signing this Sccurity Instrwnent only to mortgage, grant and convey thc co-signer's intercst in the Property under the tenus of this Security Instrwnent; (b) is not personally obligated to pay thc sums secured by this Security Instrwllent; and (c) agrccs that Lender and any other Borrower can agree to extend, modify, forbear or makc any accommodations with regard to the tenns of this Security Instrwnent or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who asswncs Borrower's Obligations under this Security Instrwnent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrwnent. 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 (cxcept as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fecs for services perfonned in connection with Borrowcr's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, thc 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 fcc. Lender may not charge fees that are expressly prohibited by this Security Instrwllent 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 pennitted limits, then: (a) any such loan charge shall bc reduced by the amount necessary to rcduce the charge to the pennitted limit; and (b) any sums already collccted from Borrower which exceeded pennitted 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 prcpaymcnt charge (whether or not a prepaymcnt charge 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 given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrwnent 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 specifics a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that spccified procedure. There may be only one designated 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 until 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 tlle Property is located. All rights and obligations contained in this Security Instrwnent are subjcct 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 Instrwuent 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 Instrwncnt: (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 tlle Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial intercst in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in thc Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all swus secured by this Security Instrwnent. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 Banker. Systems, Ino.. St, Cloud. MN Form MD-1-NE 8/17/2000 (page 5, of 7 pages) ,