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<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 cost tv Bvtrowcr of the Mortgage Insurance previously in eftcct, from an
<br />alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not availahle,
<br />Borrower shall continue to pay to Lender the amount ofthe separately designated payments that were due when the insurance
<br />coverage ceased tv 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 of earnings on such loss reserve. Lender can no longer
<br />require loss reserve payments if Mortgage 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 for Mortgage Insurance. If Lender required Mortgage Insurance as a condition ofmaking the
<br />Loan and Borrower 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 provide anon-refundable Ions
<br />reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between
<br />Borrower and Lender provldmg for such termmatton or until tet7rtination is required by Applicable Law. Nothing in this
<br />Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<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 arty to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on alt 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 on terms and wnditivns
<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 of these agreements, Lender, any purchaser of the Hate, another insurer, any reinsurer, any other entity,
<br />or aliliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion otf3orrower's pa ents for Mortgagge Insurance, in exchange for sharing yr modifying the mortgage insurer's
<br />risk, or reducing losses. if such agreement provtded 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 auy refund.
<br />(b) 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 to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or to receive a refund of any 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 />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if
<br />the restvration or repatr is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportuntty to inspect such
<br />Property to ensure the work has been completed to 1_,ender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may pay for the repairs and restvration in a single disbursement yr in a series of progress payments as the
<br />work is completed. LJnless an agreement is made in writing ar Applicable Law requires interest to he paid on such
<br />Miscellaneous Proceeds, bender shall not be required to pa Borrower any interest or earnings on such Miscellaneous
<br />Proceeds. If the restvration ar repair is not economtcally feasible or bender's security would he lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneous Proceeds shall he a(tplied in the order provided far 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, if any, paid to Borrower.
<br />In the event ota partial taking, destruction, or loss in value of the Property in which the fair ntarkel value ol'the
<br />Property immediately before the partial taking, destruction, or loss in value is equal tv or realer than the amount oftlte sums
<br />secured by thts Securtty Instrument tmmedtately 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 />Miscellanevus 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 of the Property immediately before the partial
<br />taking, destntction, 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 of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destrnctton, or loss in value, unless Borrower and Lender otherwise agree in writing,
<br />the Miscellanevus Proceeds shall be applied to the sums secured by this Security Instrument whether or nut the sums are then
<br />due.
<br />if the Froperty is abandoned 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 authorized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security htstrument, whether or not then due.
<br />"Opposing Party" means the thirdarty that owes Borrower Miscellaneous Proceeds or the party against whom Borrower
<br />has a right of action in regard to Mtscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in lender's
<br />judgmeat, could result in forfeiture ofthe Property or other material impairment of Lender's interest in the Property or rights
<br />under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as pprovided m
<br />Section 19, by causing the action or proceeding to he dismissed with a ruling that, in Lender's judgment, (trecludes forfeiture
<br />of the Property ar other material impairment of Lender s interest in the Property or rights under tlus 5ecutrlty Instrument. The
<br />proceeds of any award yr claim for damages that are attributable to the impairment of Lender's interest in the Property are
<br />hereby assigned and shall be paid to Lender,
<br />All Miscellanevus Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided fur in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payment or
<br />modification of amortization ofthe sums secured by this Security Instrument granted by Lender to Burrower 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 of Borrower or to refuse to extettd
<br />time for payment or otherwise modify amortization ofthe sums secured by this Security Instrument by reason afanydemand
<br />made by the original Borrower or an~ Successors in Interest ofl3orrower. An forbearance by Lender in exercising anyright
<br />or remedy includ-ng, without limitation, Lender's acceptance of payments from third persons, entities or Successors to
<br />Interest of Borrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 1/01 (page 5 of8 pages)
<br />12439.CV (i Vo7) 6898920140 Creative Thinking, Inc.
<br />Ca'l'a(002988f0)
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