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2oo9os793
<br />of the separately designated payments that were due when the insurance coverage ceased to be in effect.
<br />Lender will accept, use and retain these payments as anon-refundable loss reserve in lieu of Mortgage
<br />Insurance. Such loss reserve shall tenon-refundable, natwithstandingthc fact that the Loan is ultimately paid
<br />in full, and Lendershall oat be required to pay Borrower any interest or earnings on such loss reserve. Lender
<br />can na longer require lass reserve payments if Mortgage insurance coverage (in the amount and forthe permed
<br />that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and
<br />Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender
<br />required Mortgage insurance as a condition of making the Loan and Borrower was required to make ~parately
<br />designated payments toward the premiums for Mortgage Insurance, Borrower shall paythe premiums required
<br />to maintain Mortgage insurance in effect, or to provide a non-refundable lass reserve, until Lender's
<br />requirement for Mortgage tnsurance ends in accordance with any written agreement between Harrower and
<br />Lender providing forsuch termination or until termination is required by Applicable Law. Nothing inthis Section
<br />'10 affects Borrower's obligation to pay interest at the rate provided in the Nate.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Nate) for certain losses it may
<br />incur 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 ail such insurance in force from time to time, and may
<br />enter into agreements wi#h other parties that share or madifytheir risk, ar reduce losses. These agreements are
<br />on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these
<br />agreements. These agreements may require the mortgage insurer to make payments using any source of
<br />funds that the mortgage insurer may have available (which may include funds obtained from Mortgage
<br />insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsures, any
<br />other entity, or any affiliate of any of the foregoing, may receive (directly ar indirectly} amounts that derive from
<br />(or might ~ characterized as) a portion of Borrowers payments for Mortgage Insurance, in exchange for
<br />sharing ar modifying the mortgage insurer's risk, or reducing losses. If such agreement providesthat an afFliate
<br />of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the
<br />arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Harrower has agreed tv pay for
<br />Mortgage insurance, ar any other terms of the Login. Such agreements will not increase the amount
<br />Borrower will owe fns Mortgage Insurance, and they will not entitle Harrower to arty refund.
<br />(b) Any such agreements will not affect the rights Harrower has - if any -with res~ct to the
<br />Mortgage Insurance under the Womeowners Protection Act of 1998 or any other law. These rights may
<br />include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage
<br />Insurance, to have the Mortgage Insurance terminated automatically, oodles to receive a refund of any
<br />Mortgage Insurance premiums that were unearned aL' the time of such canceHatian or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All MisceNaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied tQ restoration orrepairofthe
<br />Property, rFthe restoration or repair is economically feasible and Lenders security is oat lessened. Curing such
<br />repair and restoration period, Lendershall havethe right to hold such Miscellaneous Proceeds until Lender has
<br />had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may pay forthe repairs and restoration in a
<br />single disbursement or in a series of progress payments as the work is completed. Unless an agreement is
<br />made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall
<br />not be required to pay 8orrawerany interest orearnings on such Mis~lianeous Proceeds. If the restoration or
<br />repair is not economicallyfeasible or Lender's security would be lessened, the Mscellanenus Proceeds shall be
<br />applied to the sums secured by this Security instrument, whether nr oat then due, with the excess, if any, paid to
<br />Borrower. Such Miscellaneous Proceeds shalt be applied in the order prov~led far in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instnament, whether or not then due, with the excess, if
<br />any, paid to Harrower.
<br />In the event of a partial taking, destruction, ar lass in value of the Property in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or
<br />lass in value, unless Harrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instrument shall be reduced toy the amount of the Miscellaneous Proceeds multiplied by the fallowing fraction:
<br />NEBRASFW-Singe FamAy--Fannie AAadFroddie Mac UNIFORM INffiTRUMENT [Pays 70(12)
<br />Nebraska D®ad ai TI'usi 5028
<br />NE DOT 01/01
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