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<br />NI!3028.ttol.xml
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<br />200903864
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<br />Lender providing for such termination or until termination Is required by Applicable Law. Nothing In this Section
<br />to affects Borrower's obligation to pay Interest at the rate provided In the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur
<br />if Borrower does not repay the Loan as agreed. Borrower Is not a party to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such Insurance In force from time to tlmc, and may cntcr Into
<br />agreements with other parties that share or modify their risk, or reducc losscs. Thcsc agrccmcnts arc on terms and
<br />conditions that arc satisfactory to the mortgage Insurer and the other party (or partlcs) to thesc agrcemcnts. Thcse
<br />agreemcnts may require the mortgage Insurer to make payments using any sourcc of funds that thc mortgagc Insurcr
<br />may have available (which may include funds obtained from Mortgagc Insurancc premiums).
<br />As a result of these agreements. Lender, any purchaser ofthc Note, anothcr Insurer, any rclnsurer, any other
<br />cnlity, or any affiliate of any of the foregoing, may receive (dlrectiy or Indlrcctly) amounts that derive from (or might
<br />bc characterized as) a portion of Borrower's payments for Mortgage Insurance, In cxchangc for sharing or modifying
<br />the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share
<br />of the insurer's risk in exchange for a share of the prcmlums paid to the insurer. the arrangement is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements wiD not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not Increase the amount Borrower wiD owe
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - If any - with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may Include the right
<br />to receive certain d1sclOliures, to request and obtain canceDatlon of the Mortgage Insurance, to have the
<br />Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellation or termination.
<br />II. Assignment of MlsceUaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />Ifthe Property Is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair Is economlcally feasible and Lender's security Is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to Inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall he undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement
<br />or in a series of progress payments as the work Is completed. Unless an agreement is made in writing or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not bc required to pay Borrower any
<br />interest or earnings on such Mlsccllaneous Proceeds. If the restoration or repair is not economically feasible or
<br />Lender's security would be lessened. the Miscellaneous Procecds shall be applied to the sums secured by tbis Security
<br />Instrumcnt, whcther or not then due, with the excess, if any, paid to Borrower. Such Mlsccllaneous Proceeds shall
<br />be applied in the order providcd for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall bc
<br />applied to the sums secured by this Sccurlty Instrument. whether or not then duc, with thc cxccss, if any, paid to
<br />Borrower.
<br />In the event ofa partial taking, destrucllon, or loss in value of the Property In which the fair market valuc of
<br />the Property immediately before the partial taking, destruction. or loss in value is equal to or greater than the amount
<br />of the sums secured by this Security Instrument Immediately before the partial taking, destruction, or loss in value,
<br />unless Borrowcr and Lender otherwise agree in writing, the sums sccured by this Security Instrument shall be reduced
<br />by the amount of the Mlsccllaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums
<br />sccurcd immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
<br />Property Immedlatcly bcforc the parllal taking. destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In thc cvent of a partial taking, destruction, or loss in valuc of thc Property In which the fair market value of
<br />the Property Immediatcly bcfore the partial taking. destruction, or loss in valuc is less than the amount of the sums
<br />secured Immediatcly bcforc the partial taking, destruction, or loss in valuc, unless Borrower and Lender otherwise
<br />agree In wrlllng, thc Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br />or not the sums are then due.
<br />If the Property is abandoned by Borrower, or If. after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to scttle a claim for damages. Borrower fails to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be In default If any action or proceeding, whether civil or criminal, Is begun that, in Lender's
<br />judgment, could result in forfellnre of the Property or other material impairment of Lender's interest in the Property
<br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, In Lender's
<br />judgment, precludes forfeiture of the Property or other materlaiimpairment of Lender's interest In the Property or
<br />rights under this Security Instrument. Thc proceeds of any award or claim for damages that arc allrlbutable to the
<br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lcnder.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br />order provided for In Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modiflcalion of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any
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<br />NEBRASKA,-Singla Famlly--Fannia lIIIaa/Freddle lIIIac UNIFORM INSTRUIIIIENT
<br />Form 302B 1/01 Page 6 of 11
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