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200903905
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, play receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the IT~ortgage insurer's risk, or reducitlg losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />prellliunls paid to the insurer, the arrangennent is often termed "captive reinsurance. " Further;
<br />(a) Any such agreements will not affect the amounts that .Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe 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
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and I.,ender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work leas been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a sitlgle disbursement or in a series of progress payments as the work. is
<br />completed. Uliless an agreement is Inade in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. if the restoration or repair is not economically feasible or Lender's security would
<br />he lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with tre excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided. for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of tIe Property, the Miscellaleous
<br />Proceeds shall be applied to the sums secured by this Security instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of tie Property in which. the fair market
<br />value of tIe Property immediately before the partial takitlg, destruction, or loss in value is equal to or
<br />greater than the amoutlt of the sums secured by this Security Instrument inunediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security lnstnunelrt shall be reduced by the alI1QUIIt of the Miscellaneous Proceeds
<br />Illultiplied by the ti~llowing fractiota: (a) the total amount of file sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (h) the fair market value of the Property
<br />immediately before the partial takitlg, destruction, or loss in value. Anyy balance shall be laid to Borrower.
<br />In the event of a partial taking, destruction, or lass in value of the Property in whlch the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured inurediately before tIe partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether 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
<br />Opposing Party (as defined in tIe next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 3p days after the date the notice is given, Lender is autlorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by tlis Security Instrument, whether or not then due. "Opposi.ng Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall he in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or otter material impairrrlent of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA -Single Family -Fannie MaelFreddie Mac UNIFORM INSTRUMENT
<br />-61NE) ~oai i ~ Page 8 of 7 5 initiai9: Form 3028 1 /01
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