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200800367 If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid 10 Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have tile right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property 10 ensnre the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless ml agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneons Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the rcstoration or repair is not economically feasible or Lender's security would be lessened, the Miscellmleous Proceeds shall be applied to lhe snllls secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Snch Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of ilie Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, wheilier or not tllen due, with the excess, if any, paid to Borrower. In lhe event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the SlllUS secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower mld Lender olherwise agree in writing, the SlllUS secured 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 immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property inunediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less thml ilie 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. H the Property is abmldoned by Borrower, or if, after notice by Lender to Borrower iliat the Opposing Party (as defined in the next sentence) offen; to make ml award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply tile Miscellaneous Proceeds either to restoralion 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. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, conld result in forfeiture of ilie Property or oilier material impairment of Lender's interest in the Property or rights under iliis Security Instrument. Borrower can cure such a default mld, if acceleration has occurred, reinstate as provided in Section IS, by causing the action or proceeding to be dismissed with a mling iliat, in Lender's judgment, 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 mlY award or claim for damages that are attributable to the impairment of Lender's interest in ilie Property arc hereby assigned fUld shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of ilie Property shall be applied in the order provided for in Section 2. 11. 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 mlY Successors in Interest of Borrower. Lender shall not be required to commence proceedings against mlY Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify muortization of the sums secured by this Security Instrument by reason of mlY demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising mlY right or remcdy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interesl 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. 12. Joint and Several Llablllty; Co-signers; Successors and Assigns Bound. Borrower covenants mld agrees that BOlTOwer'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 NEBRASKA-Sill~le Family-UNIFORM INSTRUMENT ITEM T2697L 7 (0308r-MERS (Page 7 of 11 pages) GREATLAND . To Order Call: 1-800-530-9393 D Fax: 616-791-1 131 ,I..;