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201005570
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage IilSUranL'L', in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement.
<br />provides that an affiliate of Lender takes a share of 117e insurer's risk in exchange fur a share of the
<br />premiums paid to the insurer, the arrangement is often tertncd "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has al;reed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not artitlc Borrower to any refund.
<br />(b) Any such agrccrnerrks will trot affect the rights Borrower has - if any - wrt17 respect to the
<br />Mortgage Insurance under the Homeowners Protu~ctiun Act of 199!3 or airy other la'w'. 1'hcse rights
<br />may include the right to receive certain disclosures, to request and ol7tairr carrccllatiorr of khc
<br />Mortgage Insurartcc, to have the Mortgage Itrsurancc kcrrnirtaled automatically, andlor to receive a
<br />refund of any Mortgage L7surance premimns that were unearned at the time of such cancellation ur
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Misecllancous Procccds arc ltcrcby
<br />assigned to and shall be paid to Lcndcr.
<br />If the Property is damaged, such Miscellaneous Procccds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is cconornically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until bender has had an uppnrtnrtity to inspect such I'rupcrty to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lcndcr may pay for the
<br />repairs and restoration in a single disbursement ur in a series of progress payments as the work is
<br />completed. Unless an agreement is trrade in writing or Applicable Law requires interest to be paid ~n7 such
<br />Misecllancous Proceeds, Lender shall nvt be required to pay Burrower any interest or can7ings un suc17
<br />Misecllancous Procccds, If the restoration or repair is not cconon7ically feasible or Lender's security would
<br />be lessened, the Misecllancous Procccds shall be applied to the sums secured by ibis Security Inslrumcnl,
<br />whether ar nut then due, with the excess, if any, paid to Borrower. Such Miscellaneous I'ruceeds shall be
<br />applied it7 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
<br />Proceeds shall be applied to the sums sccurcd by this Security Tnstrutnent, whether or not then due, with
<br />the excess, if any, paid lu Borrower.
<br />In the event of a partial taking, destruction, ar loss in value of the Properly in which the fair market
<br />value of lire Properly irmnediatcly before the partial taking, destruction, or loss in value is equal to ur
<br />greater than the amount of the sums secured by this Security Instrument irrunedialely belbrc the partial
<br />taking, destruction, ur loss in value, unless Borrower and Lcndcr otherwise agree in writing, the sums
<br />secured by llris Security Instrurncnt shall be reduced by the amount of the Miscellanevus 1'r~~cccds
<br />multiplied by the following fraction: (a) the tidal amount ul' the swiss sccurcd irrunediatcly before the
<br />partial taking, destruction, or loss in value divided by (h) the fair market. value oC t17e I'rvperty
<br />irmnedialely before the partial taking, destntetion, or loss in value. An~y balance s17a11 be laid to Borrower.
<br />In the evens of a partial faking, destruction, or loss in value of ll'c Property in wlucl7 the fair market
<br />value of the Property imtnediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured irnrnedialely before the partial faking, deslruclion, or loss in value, unless
<br />Burrower and Lender otherwise agree in writing, the Miscellaneous Procccds shall be applied to the sums
<br />sccurcd by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, ai"ter notice by Lender Lo Borrower that. the
<br />Opposing Party (as defined in the next sentence) offers to make an award lu settle a claim fur damages,
<br />Burrower fails to respond to Lender within 30 days after Use date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair ul the Properly or to the
<br />sums secured by this Security instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Procccds ur the party against whom Burrower 17a5 a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be In default ]f any action ur proceeding, whether civil ur criminal, i5 begun that, in
<br />Lender's judgment, could result in forfeiture of the ['roperty or oll7er uraterial impairment uC Lender's
<br />irrtcrest in the Property or rights under this Security instrument. Borrower can cure suc17 a default and, it
<br />NEBRASKA - Sinflle Farrtily -Fannie Mao/Freddfe Mac UNIFORM INSTRUMENT ~ W "J I ' /
<br />-B(NE) ~osi n Pogo ~ ar ~ 5 i~~s~~i6:CY~!! Form 302$ 9/01
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