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20100343'7 insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in erect, at a cost substantially equivalent to the cost to Harrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to ppay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in etI'ect. Lender will accept, use and retain these payments as anon-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall benon-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. if Lender required Mortgage Insurance as a condition ofmaking the Loan and Borrower was required to make separately designated payments toward the premiums for Mortga re Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide anon-re~ndable lass reserve, until Lender's ree(uirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing far such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided yin the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained fi•am Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the note, another insurer, any reinsurer, any other entity, or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's pa ents for Mortga ~e Insurance, in exchange for sharing or modifying the mortgage insurer's risk, ar reducing losses. If such agreement provi~ed that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is open termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the L.aau. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (h) Any such agreclnents will .not affect the rights Borrower has - if any -with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, alld/ar to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; l nrfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. if the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is oat lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay far the repairs and restoration in a single disbursement or in a series afprogress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pa Harrower any interest or earnings on such Miscellaneous Proceeds. if the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total. taking, destruction, ar lass in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount ofthe sums secured by this Security Instrument immediately before rho ppartial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree m writing, the sums secured by t}iis Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediatelybefare the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, ar loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or lass in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. if the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next 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 is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower, has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceedin ,whether civil or criminal, is begun that, in Lender's •judgment, could result in forfeiture of the Property or other materia~impairment ofLender's interest in the Yropertyor rights under this Security Instrument. Harrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed. with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or riglrts under this Security Instrument. The proceeds ofany award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. Al] Miscellaneous Proceeds that are not applied to restoration or repair of the Properly shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. 1~,xtension of the time for payment or modification of amortization of the sums secured. by this Security Instrument granted by bender to Borrower ar any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason ofany demand made by the original Borrower or any Successors in Interest ofBorrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments fii•om third persons, entities or Successors in Interest ofBorrower ar in amounts less than the amount then due, shall not be a waiver of or preclude the exercise ofany right or remedy. NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM 1NS'1'RUMENT (HERS) Form 3028 1/O1 Gage 5 of8~ages) 12439.CV (I1/U7) OG-I542 Creative ThLrkinB, Inc. GOTO(0003a532) Cif ~./ "