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<br />lu the event. of a partial taking, destruction, or loss in value of the Property in which the fair market. value of the
<br />Property itntnedia.tely before the partial taking, destruction, or loss in value is equal to or greater than the amount of the surrts
<br />secured by this Security Instrument imrnediatcly before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, tlae sums secured by this Security Instrument shall he reduced by fire amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (h) the fair market value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall he paid to Borrower.
<br />in the event. of a. parl.ia.l taking, destruction, or loss in value of the Property in which the fair market. value of the
<br />Properly irrunediately het`ore the partial taking, destruction, or loss in valuers LCSS than the amount. of the Burns secured
<br />rrnrnediaiely before the partial taking, destruction, or loss iu value, unless Borrower and L,cnder otherwise agree in writing, the
<br />Miscellaneous Proceeds shall he applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, afl.er notice by Lender to Borrower that the Opposing Party (as defined
<br />iu the next sentence) offers to make an award to settle a. claim for damages, Borrower fails to respond to Lender within 30 days
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of file Property or to the surrts secured by this Security instrument, whether ur not then due. "Opposing Party" means
<br />the third party that owes .Borrower Miscellaneous Proceeds or the party against. whom Borrower has a right of action in regard
<br />to Miscellaneous Proceeds.
<br />Borrower shall he in default if any action or proceeding, whether civil or criminal, is begun that, iu Lender's .judgment,
<br />could result. in forfeiture of the Property or other material hnpairtnent of Lender's interest in the Property or rights under this
<br />Security Inst.rumeut.. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 1~, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Properly
<br />or other material impairment of Lender's interest. in the Property or rights under this Security Instrument. The proceeds ctf any
<br />award or claim for damages that are auribuiable t.o the impairment of Lender"s interest in the Properly are hereby assigned and
<br />shall be paid to l.,cndcr.
<br />All Miscellaneous Proceeds that are not applied to restora.tiou or repair of the Property shall he applied in the order
<br />provided for iu 5ect.ion 2.
<br />12. $orrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment. or
<br />modification of amortization of the Burns secured by this Security Instrument. granted by Lender to Borrower or any Successor
<br />in interest of Borrower shall not. operate t.o release the liability of Borrower or any Successors in Interest. of i~orrower. Lender
<br />shall not he rcyuired to commence proceedings against any Successor in Interest of Borrower or to refuse to extend Citne for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by
<br />the original Borrower or any Successors in interest of Borrower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities or Successors iu interest of
<br />Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or rcrnedy.
<br />13. .Toint and Several Liability; Co-signers; Successors and Assigns Bound. .Borrower covenants and agrees that
<br />Borrower's obligations and liability shall he joint. and several. However, any Borrower who co-signs this Security Instrurncnt
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the
<br />co-signer's interest. iu the Property under the l.errtts of this Security instrument; (h) is not personally obligated Co pay the surrts
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree t.o extend, modify, forbear or
<br />snake any accouunodations with regard to the terms of this Security lustrumeni or the No[e without. the co-signer's consent.
<br />Subject. to the provisions of Section 18, any Successor in luteresi of Borrower who assumes Borrower's obligations
<br />under this Security Instrument its writing, and is approved by Lender, shall obtain all of Borrower's rights and beuefit.s under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security
<br />Instrurncnt. unless bender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind
<br />(except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default,
<br />for the purpose of protecting; Lender's interest in-tile )5roperty and rights under thi -Security Instrument, including, but not
<br />limited to, attorneys' fees, property inspection and valuation fees. In regard to a.ny other fees, the absence of express authority
<br />in [his Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such
<br />tee. Lender may not charge fees that are expressly prohibited by this Security instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that. l.he interest.
<br />or other loan charges collcctcd or to be collected in conncctiou with the Loan exceed the permitted limits, then: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (h) any sutras already
<br />collcctcd from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to raaakc this
<br />refund by reducing l.he principal owed under the Note or by making a direct payment ur Borrower. If a refund reduces
<br />principal, the reduction will be treated a.s a partial prepayment without any prepayment charge (whether or not a prepaytxtent
<br />charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will
<br />coustit.ut.e a waiver of any right of action Borrower might have arising out of such overcharge.
<br />1S. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must he in writing.
<br />Any notice to iorrower in connection with this Security Instrument shall be deemed t.o have been given to Borrower when
<br />mailed by first. class mail nr when actually delivered t.o Borrower's notice address il` sent by outer means. Notice to any one
<br />Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. 'l'ire notice address shall
<br />be the Property Address unless iorrower has designated a substitute notice address by notice to i.,ender. Borrower shall
<br />promptly notify Lender of Borrower's change of address. if Louder specifies a procedure for reporting Borrower's change of
<br />address, then I3orrowcr shall only report a change of address through that specified procedure. There uxay he Duly one
<br />designated notice address under this Security lustrmnent. aC a.uy one time. Any notice to Lender shall he given by delivering it
<br />or by mailing it by First class mail to Lender's address stated herein unless Lender has designated another address by notice to
<br />Borrower. Any notice iu connection with this Security Iust.rutnent shall not be deemed to have been given to Lender until
<br />actually received by Lender. if any uot.ice rcyuired by ibis Security Instrument is also required under Applicable Law, the
<br />Applicable Law requirement. will satisfy the corresponding requirerttent under this Security It><strttmenl.
<br />16. Governing Law; Severability; Rules of Construction. This Security instrument shall he governed by federal law
<br />acrd I.he la.w of the .jurisdiction in which the Property is located. All. rights and obligations contained in this Security Instrument
<br />are subject. to any rcyu3rcrnents and limitations al' Applicable Law. Applicable Law might. explicitly ornnplicitly allow the
<br />parties to agree by cout.ract or it might. be silent., but such silence shall not be construed as a prohibition against agreement by
<br />contract. In the event that any provision or clause ol` this Security lustrurnenl or the Note conflicts with Applicable I,aw, such
<br />conflict shall not. affect. other provisions of this Security Instrument ar the Note which can be given effect without the
<br />conllicting provision.
<br />As used in this Security instrument: (a) words of the masculine gender shall mean and include corresponding neuter
<br />words or words of the 1`ctninine gender; (h) words iu the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security lnstrurnent..
<br />18. Transfer of the Property or a $enet"icial )Cnterest in Borrower, As used in this Section 18, "Interest in the
<br />Property" nteaus any legal or beneficial interest in the Property, including, but not Limited to, those beneficial interests
<br />transferred in a bond for decd, contract for deed, installment sales contract or escrow agreement, the intent of which is the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />if all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural
<br />person and a beneficial interest. in Borrower is sold or transferred) without Lender's prior written consent, Louder nta.y require
<br />umnediat.e payment in full of all sums secured by this Security Instrument. However, this option shall not. he exercised by
<br />Lender if such exercise is prohibited by Applicable Law.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3~8 7~7
<br />bankers Systems, Inc., 5t. Cloud, MN Form Mb-7-NE 8/77/2000 (pn~r..5 nr7png['s) ~ ~Yl ~~'
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