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<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously
<br />in effect, at a cost substantially equivalent to the cast to Borrower of the Mortgage Insurance previously in effect, from an
<br />alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available,
<br />Borrower shall continue to pay tp Lender the amount ofthe separately designated payments that were due when the insurance
<br />coverage ceased to be in effect. Lender will accept, use and retain these payments as anon-refundable loss reserve in lieu of
<br />Mortgage Insurance. Such loss reserve shall benon-refundable, notwithstanding the fact that the Loan is ultimately paid in
<br />full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer
<br />require loss reserve payments if Mort$age Insurance coverage (in the amount and for the period that Lender requires)
<br />provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated
<br />payments toward the premiums far Mortgage Insurance. If Lender required Mortgage Insurance as a condition ofmaking the
<br />Loan and Hprrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to prpvide anon-refundable loss
<br />reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between
<br />Bprrower and Lender providing for such termination or until termination is required by Applicable Law. Npthing in this
<br />Section 10 affects Borrower's nbliganon to pay interest at the rate provided in the Nate.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed. Borrower is not a party to the Morga$e Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are pn terms and conditions
<br />that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may
<br />require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available
<br />(which may include funds obtained from Mortgage Insurance premiums).
<br />As a result pfthese agreements, Lender, any purchaser ofthe note, another insurer, any reinsurer, any other entity,
<br />or affiliate ofany ofthe foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses. Ifsuch agreement provided that an affiliate of Lender takes a share ofthe insurer's risk in exchange
<br />for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will 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 will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Bprrower has -ifany -with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or tp receive a refund ofany Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, bender shall have the right tp hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such
<br />Property tp ensure the work has been eompleted to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may pay far the repairs and restoration in a single disbursement or in a series ofprogress payments as the
<br />work is completed. Unless an agreement is made 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 Miscellaneous
<br />Proceeds, lithe restoration pr repair is npt economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany,
<br />paid to Borrower, Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss m value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid tp Borrower.
<br />In the event of a partial taking, destruction, or lass in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or lass in value is equal to or greater than the amount ofthe sums
<br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount ofthe sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value ofthe Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />!n the event of a partial taking, destruction, or less in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or Ipss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Harrower and Lender otherwise agree in writing,
<br />the Miscellaneous Proceeds shall be applied tp the sums secured by this Security Instrument whether or not the sums are then
<br />due.
<br />If the Property is abandpned 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 settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authprized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security Instrument, whether pr not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds pr the party against whom Borrower
<br />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 forfeiture ofthe Property or other material impairment pf Lender's interest in the Property or rights
<br />under this Security Instrument. Bprrower can cure such a default and, if acceleration has occurred, reinstate as provided in
<br />Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture
<br />ofthe Property or other material impairment of bender's interest in the Property or rights under this Security Instrument. The
<br />prpceeds ofany award nr claim for damages that are attributable tp the impairment of Lender's interest in the Property are
<br />hereby assi ned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair pfthe Property shall be applied in the order
<br />provided far in Section 2,
<br />12. Borrower Nat Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or an Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower.
<br />Lender shall not be required to commence proceedings against any Successor in Interest ofBorrpwer or to refuse to extend
<br />time for payment or otherwise modify amortization ofthe sums secured by this Security Instrument by reason ofany demand
<br />made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right
<br />NEBRASKA--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT' Form 3028 1/01 (page 5 of8 pages)
<br />9754,CV (3/D9) 99-25676 Creative Thinking, Inc.
<br />GOTO(000333d9)
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