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201002514
<br />request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to
<br />receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to
<br />bender.
<br />Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair vfthe Property, ifthe restoration
<br />or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the
<br />right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
<br />completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br />restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid vn such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or
<br />earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether ar not then due, with the excess, if
<br />any,, 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 in value of the Property, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid tv Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the. Property
<br />immediately before the partial taking, destruction, or loss in value is equal to yr greater than the amount of the sums secured by this Security
<br />Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
<br />sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair
<br />market value of the Property immediately before the partial taking, destruction, or loss 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 fair market value pf the Property
<br />immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial
<br />taking, destruction, or lass in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to
<br />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, after notice by bender to Borrower that the Opposing Party (as defined in the next
<br />sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice
<br />is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums
<br />secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that awes Borrower Miscellaneous
<br />Proceeds or the party against wham 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 begun that, in Lender's judgment, could result
<br />in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument.
<br />Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding
<br />to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Properly or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairment of bender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />Al I Miscellaneous Proceeds that are not applied to restoration ar repair of the Property shall be applied in the order provided for in
<br />Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of
<br />amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall
<br />not operate to release the liability of Borrower yr any Successors in Interest of Borrower. Lender shall not be required to commence
<br />proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the
<br />sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in interest of
<br />Borrower. Any forbearance by bender in exercising any right or remedy including, without limitation, Lender's acceptance of payments
<br />from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's
<br />obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the
<br />Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property
<br />under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c)
<br />agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of
<br />this Security Instrument or the Note without the co-signer's consent.
<br />Subject to the provisions of Section 1 S, any Successor in Interest of Borrower who assumes Borrower's obligations under this
<br />Security Instrument in writing, and is approved by Lender, shall obtain alt of Borrower's rights and benefits under this Security Instrument.
<br />Borrower shall not be released From Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release
<br />in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the
<br />successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the
<br />purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys'
<br />fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to
<br />charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are
<br />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 the interest or other loan
<br />charges collected or to be collected in connection with the bean exceed the permitted limits, then: (a) any such loan charge shall be reduced
<br />by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Iorrower which exceeded
<br />permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by
<br />making a direct payment tv Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br />prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made
<br />by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />15. Notices. All notices given by Borrower yr Lender in connection with this Security Instrument must be in writing. Any notice to
<br />Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or
<br />when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all
<br />Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has
<br />designated a substitute notice address by notice to Lender. Borrower shall promptly notify bender of Borrower's change of address. If
<br />Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change ofaddress through that
<br />specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender
<br />shall be given by delivering it or by mailing it by first class mail to Lender's address stared herein unless Lender has designated another
<br />address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender
<br />until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable
<br />Law requirement will satisfy the corresponding requirement under this Security Instrument.
<br />NEBRASKA »Single Family-Fannl® Mae/Freddle Mac UNIFORM INSTRUMENT with MERE Fo~ 3028 1/01
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<br />ias, inc. Borrower(s) Initials
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