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20100630;
<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage
<br />Insurance, Horrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
<br />Insurance previously in etl'ect, at a cost substantially equivalent to the cost to Borrower of the Mortgage .Insurance
<br />previously in effect, from an alternate mortgage insurer selected by Lender. if substantially equivalent Ivtnrtgage
<br />Insurance coverage is not available, Bnrrpwer shall continue to pay tp Lender the arnaunt afthe separately designated
<br />payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />payments as a non-refiuadable lass reserve in lieu pf Mortgage Insurance. Such. less reserve shall be non-refundable,
<br />notwithstanding the fact that the Loau is ultimately paid in full, atad Lender shall. uat be required to pay Borrower any
<br />interest nr earnings an such loss reserve. lender can na Ipnger require lass reserve payments if Mortgage Insurance
<br />coverage (in the amount and for the period that Lender requires) prpvided by an insurer selected by Lender again
<br />beeanaes available, is pbtained, and bender requires separately designated payments toward the premiums for
<br />Mortgage Insurance. if Lender required Mortgage Insurance as a condition pf making the Lean and Harrower was
<br />required to make separately designated payments toward floe premiums for Mortgage Insurance, Bprrpwer shall pay
<br />the premiums required to maintain Mortgage lnsuratace in effect, nr tp provide a npn-refundable loss reserve, until
<br />Lender' s requirement for Mortgage Insurance ends in accordance with any written agreement between Horrawer attd
<br />Lender providing fpr such termination nr until termination is required by Applicable 'Law. Nothing in this Section
<br />10 affects I3nrrower's obligation to pay interest at the rate prpvided in the Npte.
<br />Mprtgage 'Insurance reimburses Lender (pr any entity that purchases the Note) for certain losses it may incur
<br />if Iarrower does oat repay the Laan as agreeci. Harrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, attd may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and the other party (nr parties) to these agreements, These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any ether
<br />entity, nr any affiliate of any of the foregoing, may receive (directly nr indirectly) atnnuuts that derive from (or might
<br />be characterized as) a pnrtipn of I3nrrpwer's payments for Mprtgage Insurance, in exchange fpr sharing ar modifying
<br />the mortgage insurer's risk, or reducing leases. If such agreement provides that an affiliate of Lender takes a share
<br />of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arratagenaent is often termed
<br />"captive reinsurance." 1~urther:
<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
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(h) Any such agreements will not affect the rights Borrower has - if any -with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right
<br />to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the
<br />Mprtgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums
<br />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
<br />and shall be paid ro lender.
<br />If the Property is damaged, such Miscellateous Proceeds shall be applied to restoration or repair of floe Property,
<br />if the restpration nr repair is economically feasible and Lender's security is oat lessened. During such repair and
<br />restoration peripd, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to inspect such I'rnperty to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall be undertaken promptly. Lender may pay f'pr the repairs and restoration in a single disbursement
<br />ar in a series pf' progress payments as the work. is completed. Untess an agreement is made iu writing pr Applicable
<br />Law requires interest to be paid nn such Miscellaneous Proceeds, Lender shall not be required to ,pay Harrower any
<br />interest or earnings on such Miscellaneau. Proceeds. If the restoratiara or repair is not economically feasible or
<br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied .to the sums secured by this Security
<br />Instrument, whether or not then due, with the excess, if any, paid tp Bprrpwer. Such Miscellaneous Proceeds shall
<br />be applied iu the prdar provided for in Section 2.
<br />In the event of a total taking, destruction, or lass in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by dais Security Instrument, whether nr not then due, with the excess, if any, paid tp
<br />Borrower.
<br />In the event pf a partial taking, destruction, pr Ipss iu value of the Property in which the fair market value pf
<br />the Property immediately before the partial taking, destruction, pr loss in value is equal to or greater than the amount
<br />of the sums secured by this Security Instrument immediately befpre the partial taking, destruction, ar lass in value,
<br />unless Borrower and Lender otherwise agree iu writing, the sums secured by this Security Instrument shall be reduced
<br />by the arnaunt pf the Miscellaneous Proceeds multiplied by Qie following fraction: (a) the fetal amount of the sums
<br />secured immediately before the partial taking, desu•uctinn, pr lass in value divided by (b) the fair market value of the
<br />Property immediately before the partial taking, destruction, nr loss in value. Any balance shall be 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 of
<br />the Property immediately befpre the partial taking, destruction, pr loss in value is less than the amount of the sums
<br />secured inunediately before the partial taking, destruction, pr loss in value, utaless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied tp the sums securedby this Security Instrument whether
<br />pr opt the sums are then due.
<br />NEBRASKA-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -MFRS
<br />Form 3028 1 /01 Page 6 of 11
<br />yes
<br />IaOCMBCJlC ~ 800-649-1382
<br />www. docmaglc. corn
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