<br />06/09/2008 NON 10:41 FAX 1308 382 9235 HomeFedGI
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<br />III 0 0 6/ 0 0 9
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<br />200805129
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<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer,any reinsurer.
<br />any other entity, or any affdiate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of BolTOwer's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insu,rer's risk. or reduci,ng losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer,the,arrangementis oftenterined "captive reinsurance. · Further: '
<br />(a) Any such agreements will not affect the amounts that Bol'l'QWer bas agreed to pay for
<br />Mortgage Insurance, or any other t~ of the Loan. Such a~ents will not fnc:re8se the amount
<br />Borrower wm owe tor Mortgage IDSuran~1 and they ~ notentltle Borrower to any refund,
<br />(b) Any such ~ents will not affect the l1gbts Borrower bas ~ if any ~ with respect to the
<br />Mortca&e Insurance under the Homeowners ProteCtIon Act of 1998 or any other law. These rights
<br />may indude the rl&ht to receive certain disclosures, to request and obtain canceUation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatleaDy, and/or to receive a
<br />refund of any Mortp&e Insurance premiumS that were unearned at the time of such cancellation or
<br />termination. , '" , ' "
<br />11. AssIgnment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender. ' ; "
<br />, If the PrOptlrty is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender',s security is not lessened.
<br />DUring such repair and restoration period, Lender shall have the right to hold such MisCellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided th~t such' inspection shall be 'UIldertaken promptly. Lender may pay for the
<br />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 p~d on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or ealnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's securitY would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order p!ovided for hi Section 2. . ,
<br />In the event of a total taking, 'destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall.be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower. . ..
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal. to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the panial
<br />taking, destruction, or loss in' value, unless BolTOwer and Lender otherwise agree in writing, the swrui
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately. before the
<br />partial taking, destruetion, or . loss in value . divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />, In the event of a pilrtial taking, destruction, or loss in valUe of the Property in which the fair market
<br />value of the PrOperty immediately. before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by BOlTOwer, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom BolTOwer has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impainnent of Lender's
<br />interest in the Property ~r ,~ghts under this Security Instrument. BolTOwer~. . ~Such a default and, if
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<br />. . '~'S 08-04-23-000057
<br />..' In~la's:.
<br />fI!l-6(NE) 104011.02 Page 9 of 15 Form 3028 1'01
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