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<br />200710386
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<br />If this S<:curity Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower
<br />acquir<:s fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay
<br />the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required
<br />by L<:nder ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to
<br />make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the
<br />cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If
<br />substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the
<br />separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and
<br />retain these payments as a non-refundable loss reserve in lieu of Mortgage hlsurance. Such loss reserve shall be non.refundablc,
<br />notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or
<br />earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount
<br />and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, aud
<br />Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage
<br />Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the
<br />premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to
<br />provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written
<br />agrcement between Borrowcr and Lender providing [or such termination or until tennination is required by Applicable Law.
<br />Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower
<br />does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements
<br />with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are
<br />satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the
<br />lllortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may
<br />iuclude funds obtained [rom Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or [my
<br />affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive frolll (or might be characterized as) a
<br />portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or
<br />reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange [or a share
<br />or the premiums paid to the insurer, the arrangement is often tenned "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or
<br />any other terms of the Loan. Such agreements will not Increase the amount Borrower 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 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 />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and 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 <:nsure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender Illay pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />cOlnpletec!. Unless an agreement is made in writing or Applicable Law requires interest to be paid Oil 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 Instnllnent, whether or not then due, with the excess, if any, paid to Borrower.
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<br />ITEM T2698L7 (0308)-MERS
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<br />(Pag" 7 of 12 pages)
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<br />Form 30211 1/01
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<br />GREATLAND .
<br />To Order Call: 1-800-530-93930 fax: 616-791-1131
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<br />NEBRASKA-Single Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT
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