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200901046 In the event of a partial taking, destruction, or loss in value of the Property in which the fair market valuc of the Property immcdiately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by 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 InstrwHent 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 valuc of the Property itlllllediately beforc 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 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 the sums secured by this Security Instrument whether or not the sums are then 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 settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date tbe 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 against whom Borrower has a right of action in regard 10 Miscellancous Proceeds. Borrower shall be in default 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 itnpaimlCnt 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 judgment, precludcs forfeiture of thc Property or other material impainnent of Lender's interest in.'the Property or rights under this Security Instrwnent. The proceeds of any award or c1aitn for damages that are auributable to the itnpairment of Lender's inlerest in the Property are hereby assigned and shall be paid to Lender. All Miscellancous Proceeds that are not applicd to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. B01Tower Not Released; F01'bearance By Lendel' Not a Waivel', Extension of the titHC for payment or modificatiolJ 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 any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend titne for payment or otherwise modify amortization of the sums secured by this Security Instrwnent by reason of any demand made by thc original Borrower or any Successors in Interest of Borrower. Any forbearance by Lendcr in exercising any right or remedy including, without litnitation, Lender's acceptance of payments from third persons, entities or Successors in Interest 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. 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. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrumcnt only 10 mortgage, grant and convey the co-signer's interest in the Property under the tenns of this Security Instrument; (b) is not pcrsonally obligated to pay the sums secured by this Security I nstrument; and (c) agrees that Lender and any other Borrower can agrce to extend, lnodify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who aSSWllCS Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's righls and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrwncnt unless Lender agrees to such release in writing. The covenants and agreemcnts of this Security Jnstrwnent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lcnder. 14, Loan Charges. Lender may charge Borrower fees for services perfomled in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrumem, including, but not limited to, attorneys' rces, property inspection and valuation fees. In regard to any other fees, the 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 fee. Lender may not charge fecs that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximwn loan charges, and that law is finally interpreted so thaI the interest or other loan charges collected or to be collected in connection with thc Loan exceed the penllined litnits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the penniued litnit; and (b) any sunlS already collected frmn Borrower which exceeded pennitted litnits will be refunded to Borrower. Lender may choose to makc 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 prepayment chargc (whether or not a prcpayment 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 overchargc. 15. Notices. All notices given by Borrower or Lender in connection with this Security lnstrwnent must be in writing. A ny notice to Borrower in connection with this Sccurity Instrument shall be deemed to have becn given to Borrower when mailed by first class lnail or when actually delivercd to Borrower's noticc address if sent by other means. Notice to anyone Borrower shall constitute noticc to all Borrowers unless Applicable Law expressly requires otherwisc. 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 specifies a procedure for reponing Borrowcr's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone tinle. Any notice to Lender shall be given by delivering it or by mailing it by first class mail 10 Lender's address stated herein unless Lender has designated another address by noticc to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to I,ender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable I,aw requiremem 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 tIte Jurisdiction' in which the Property is located. All rights and obligatiuns _ contained in this SecuIity Inst~ument are subject 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 Instrument 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 con11icting provision. As used in this Security Instrument: (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 the Notc and of this Security Instrwnent. 18. Transfer of the Property 01' a Beneficial Interest in Borrowel.. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest 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 the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) wilhout Lender's prior wriuen consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. NEBRASKA-Single Familv-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Banka,s Systams, Inc., St. Cloud, MN Form MD.'-NE 811712000 A.wi F. 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