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200903185 As a result of these agreements, Lender, any purchaser of the Note. another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing. may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer. the arrangement is often termed "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 nghts 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 of the 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 of such 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 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 the right to hold such Miscellaneous Proceeds until 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 Law 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 sums 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 erovided for in Section 2. In the event of a 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, if any, eaid 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 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 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 Immediately 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 whfch 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 the 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 to Miscellaneous 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 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 001120706759 CitiMortgage 3.2.22.07 V2 NEBRASKA - Single Family - Fannie Mae/Freddie Mec UNIFORM INSTRUMENT wrr~ <!Ill-8A(NE) (oa10) Page 9 of 15 Initials: Form 3028 1/01