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. .....--.... "'\ 200900746 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain th~ Mortgage Insurance in e~ct If; for any ~eason, the ~ortgage Insurance coverage required by Lender ceases to be ava.tla~le from the mortgage msurer th~t previOusly proVIded such insurance and Borrower was required to make separately deSignated payments toward the premIUms fur Mortgage Ins~ce., Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortg~e Ins~ prevIously in effect, at a cost substantially equivalent to the cost to Bo~ower of the Mortgage Insurance preVIously D? effect, fr?m an alternate mortgage insurer selected by Lender. If substantially eqUlvaleI}t Mortgage Insurance coverage IS not ~vallab Ie, Borrower shall cOntinue to pay to Lender the amolUlt of the sep~ely deSignated payments thatwere due when. the J1'!S~ce coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve m boo of Mortgage Insurance. Such loss reserve shall be non-refundable. notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest. or earnings on such loss reserye. Lender can no !o!lger require loss reserve payments If Mortgage ~surance cove~ge (m.the ~OImt and for the per~od that Lender r~wres) provided by an insurer selected by Lender agam becomes avallable, IS o.booned, and Lender requrres sep~ly deslJPlated payments toward the premiums for Mortgage Insurance. IfLender reqUIred Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums. for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to prOVIde a non-refundab Ie loss reserve lUltil Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borro~er and Lender proVIding for such termination or until tennination is required by Applicable law. Nothing in this Section 10 affects Borrower's obligation to pay interest at th~ rate provided in the Note. . . . . Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certam losses It may mcur If Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modifY their risk, or reduce losses. These agreements are on terms and conditions that are satisfuctory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these ~eements, Lender, any purchaser of the note, another insurer. any reinsurer, any other entity, or affiliate of any of the foregomg, may receive (directly or indirectly) llmOlUlts that derive from (or might be characterized as) a portion ofBorrower's payments for Mortgage Insurance, in exchange for sharing or modifYing the mo~ insurer's risk, or reducing losses. If such agreement provided that an affiliate of Lender takes a share of the insurer's risk m exchange for a share of the premiums paid to the insurer, the arrangement is often tenned "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. . (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation ofthe Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time ofsuch cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Propertr. if the restoration or reparr is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds lUltil Lender has had an opportunity to inspect such Property to ensure 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 an agreement is made in writing or Applicable l.a.w requires interest to be paid on such Miscellaneous Proceeds. Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the swns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event ofa total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fuir market value of the Property immediately before the partial taking. destruction, or loss in value is equal to or greater than the amolUlt ofthe sums secureJby this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums 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 fuir market value of the Property inunediately befure1he 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 fuir market value of the Property immediately before the partial takin~ destruction, or loss in value is less than the amolUlt 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 smus secured by this Security Instrument whether or not the stunS are then due. If the Property is abandoned by Borrower, or i( after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damaces, Borrower fuils to respond to Lender within 30 days after the dale lIte 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 a",oainst whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in defuult 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 Instrument Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender' s jud~ent, precludes forfeiture of the. Property or other material impairment of Lender's interest in the Property or rights under thiS Securi1;yInstrwnent. The proceeds ofany award or claim for clamages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to !.enaer. . An ~iseel~aneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order prOVided for m SectIOn 2. . 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization ofthe 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 orto refuse to extend time for payme.n~ or otherwise modifY amortization of the sums secured by this Security Instrument by reason ofany demand made by the ongmal Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right NEBRASKA-Single Family-Fannie MaeIFreddit Mae UNIFORM INSTRUMENT 9754.CV (]/OS) 430010]223 Fonn 3028 1101 (page 5 of8 pages) Crutive Thinking, lot. GOTO(00]d32fb) \,