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<br />200902343
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<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this
<br />Seourity Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree
<br />In writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied
<br />by the following fraotion: (a) the total amount of the sums secured Immediately before the partial taking, destruction, br loss in value
<br />dIvided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balanoe
<br />shall be paid to Borrower.
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<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss In value is less than the amount of the sums secured immediately before
<br />the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Seourity Instrument whether or not the sums are then due,
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<br />If the proferty is abandoned by Borrower, or If, after notioe by Lender to Borrower that the Opposing Party (as defined in the
<br />next sentenoe offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the
<br />date the notioe is given, Lender is authorized to oollect and apply the Misoellaneous Prooeeds either to restoration or repair of the
<br />Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that
<br />owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action In regard to Misoellaneous
<br />Proceeds.
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<br />Borrower shall be in default if any aotion or proceeding, whether oivil or criminal, is begun that, in Lender's judgment, could
<br />result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Seourity
<br />Instrument. Borrower can oure such a default and, if acceleration has ocoured, reinstate as provIded in Section 19, by causing the
<br />aotion or prooeeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
<br />impairment of Lencfer's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for
<br />damages that are attributable to the impairment of Lender's interest In the Properly are hereby assigned and shall be paid to
<br />Lender.
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<br />All Miscellaneous Prooeeds that are not applied to restoration or repair of the Property shall be applied in the order provided
<br />for in Section 2.
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<br />12. Borrower Not Released; Forbearance By lender Not a Waiver. Extension of the time for payment or
<br />modifioation of amortization of the sums secured by this Seourity Instrument granted by Lender to Borrower or any Successor in
<br />Interest of Borrower shall not operate to release the liability of Borrower or any Sucoessors in Interest of Borrower. lender shall not
<br />be required to oommenoe prooeedings against any Suooessor in Interest of Borrower or to refuse to extend time for payment or
<br />otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original
<br />Borrower or any Sucoessors in Interest of Borrower. Any forbearanoe by Lender in exeroising any rjght or remedy including, without
<br />limitation, Lender's aooeptance of payments from third persons, entities or Suooessors in Interest of Borrower or in amounts less than
<br />the amount then due, shall not be a waiver of or preclude the exeroise of any right or remedy.
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<br />13. Joint ':In~ Severa! l~~bility. CC!-~igners; Successors and Assigns Bound.. Borro~er oov~nants and agrees
<br />that Borrower's obligations and hablhty shalf be JOint and several. However, any Borrower who co-sIgns thiS Seourlty ;Instrument but
<br />does not exeoute the Note (a "co-signer"): (a) is oo-signing this Seourity Instrument only to mortgage, grant and oonvey the
<br />co>si9ner's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums seoured
<br />by thiS Seourity Instrument; and (c) agrees that Lender and any other Borrower oan agree to extend, modify, forbear or make any
<br />accommodations with regard to the terms of this Seourity Instrument or the Note without the co-signer's oonsent.
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<br />Subject to the provisions of Seotion 18, any Suooessor in Interest of Borrower who assumes Borrower's obligations under this
<br />Seourity Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security
<br />Instrument. Borrower shall not be released from Borrower's obligations and liability under 1I'iis Seourity Instrument unless Lender
<br />agrees to such release in writing. The covenants and agreements of this Seour1ty Instrument shall bind (exoept as provided in Section
<br />20) and benefit the suocessors and assigns of Lender.
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<br />14. Loan Charges. Lender may charge Borrower fees for services performed in conneotion with Borrower's default, for the
<br />purpose of protecting Lender's interest in the Property and rights under this Security Instrument, inoluding, but not limited to,
<br />attorney's fees, property inspection and valuation fees. In regard to any other fees, the absenoe of express authority in this Security
<br />Instrument to oharge a speolflo fee to Borrower shall not be oonstrued as a prohibition on the oharging of such fee. Lender may not
<br />oharge fees that are expressly prohibited by this Security Instrument or by Applicable Law,
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<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finaily Interpreted so that the Interest or other
<br />loan charges collected or to be oolleoted in connection with the Loan exceed the permitted limits, then: (a) any suoh loan charge shall
<br />be reduced by the amount neoessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower
<br />whioh exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reduoing the principal
<br />owed under the Note or by making a direot payment to BorroWer. If a refund reduces prinolpal, the reduction will be treated as a
<br />partial prepayment without any prepayment charge (whether or not a prepayment oharge Is provided for under the Note). Borrower's
<br />acceptanoe of any such refund made by direct payment to Borrower will oonstitute a waiver of any rIght of aotion Borrower might have
<br />arising out of such overcharge.
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<br />15. Notices. All notioes Qiven by Borrower or Lender In connection with this Security Instrument must be in writing. Any
<br />notice to Borrower in oonnection With this Security Instrument shall be deemed to have been given to Borrower when mailed by first
<br />class mail or when actually delivered to Borrower's notice address if sent by other means, Notice to anyone Borrower shall constitute
<br />notice to all Borrowers unfess Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless
<br />Borrower has designated a substitute notice address by notioe to Lender. Borrower shall promptly notify Lender of Borrower's
<br />ohange of address, If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a
<br />ohange of address through that specified prooedure. There may be only one deslQnated notice address under this Seourlty
<br />I nstrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first olass mail to Lender's address
<br />stated herein unless Lender has designated another address by notioe to Borrower. Any notice in connection with this Seourity
<br />Instrument shall not be deemed to have been given to Lender until aotually reoeived by Lender. If any notice required by this Seourity
<br />Instrument is also required undet Applicable Law, the Applicable Law requirement Will satisfy the oorresponding reqUirement under
<br />this Seourity Instrument.
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<br />16. Governing Law; Severability; Rules ot Construction. This Security Instrument shall be governed by federal law
<br />and the law of the /'UriSdIDtlOn in which the F='ropElrty is located. All rights and obligations contained in this Security Instrument are
<br />subjeot to any requ rements and limitations of Applicable Law, Applioable Law might explloltly or implicitly allow the parties to agree
<br />by oontract or it might bEl silent, but suoh silence shall not be construed as a prohibition against agreement by contract. In the event
<br />that any provision or olause of this Security Instrument ot the Note conflicts with Applicable Law, suoh confllot shall not affect other
<br />provisions of this Security Instrument or the Note which can be given effect wlthout the conflioting provision.
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<br />As used in this Security Instrument: (a) words of the masouline gender shall mean and Include corresponding neuter words or
<br />words of the feminine gender; (b) words in the singular shall mean and-Include the plural and vioe versa; and (0) the word "may" gives
<br />sole disoretion without any obligation to take any aotion.
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<br />17. Borrower's Copy. Borrower shall be given one oopy of the Note and of this Seourity Instrument.
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<br />NEBRASKA-Slngl.. Famlly_F,,"ni~ l\h.eIFrecldle Mae UNIFORM INSTRUMENT
<br />3028 NE DOT 01/01 PG5
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<br />Farm 3028 1/01 (P<lll" 5 of 7 peg....)
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