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204500482
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or
<br />repair of the Property, if the restoration or repair is economically feasible and Lender's security is
<br />not lessened. During such repair and restoration period, Lender shall have the right to hold such
<br />Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure
<br />the work has been completed to Lender's satisfaction, provided that such inspection shall be
<br />undertaken promptly, Lender may pay for the repairs and restoration in a single disbursement or
<br />in a series of progress payments as the work is completed. Unless an agreement is made in
<br />writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender
<br />shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If
<br />the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether
<br />or not then due, with the 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 the Property, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether
<br />or not then due, with the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the
<br />fair market value of the Property immediately before the partial taking, destruction, or loss in
<br />value is equal to or greater than the amount of the sums secured by this Security Instrument
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender
<br />otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
<br />amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount
<br />of the sums secured immediately before the partial taking, destruction, or loss in value divided by
<br />(b) the fair market value of the Property immediately before the partial taking, destruction, or loss
<br />in value Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the
<br />fair market value of the Property immediately before the partial taking, destruction, or loss in
<br />value is less than the amount of the sums secured immediately before the partial taking,
<br />destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
<br />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
<br />the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for
<br />damages, Borrower fails to respond to Lender within 30 days after the date the notice is given,
<br />Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Property or to the sums secured by this Security Instrument whether or not then due.
<br />"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
<br />begun ghat, in Lenders judgment, could result in forfeiture of the Property or other material
<br />impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower
<br />can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment,
<br />precludes forfeiture of the Property or other material impairment of Lender's interest in the
<br />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 Property are hereby
<br />assigned and shall be paid to Lender.
<br />NEBRASKA -- Single Farni!y— Fannie Mae /Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 1101 (page /U of76pages)
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