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201007165
<br />Ia the event of a partial taking, destruction, ar lass 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 equal to or greater than the amount of the Burns
<br />secured by this Security Instrument immediately before the partial taking, destruction, nr lass 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 />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (h) the fair market value of the Property immediately before the partial
<br />taking, destruction, nr loss in value. Any balance shall he paid to Borrower.
<br />In the event of a partial taking, destruction, ar 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, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the: sums are than due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Property ar to the sums secured by this Security Instrument, whether ar not then due. "Opposing Party" means
<br />the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard
<br />to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil ar criminal, is begun that, in Leader's judgment,
<br />could result is forfeiture of the Property or other material impairment of Leader's interest is the Property or rights under this
<br />Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Sectina 19, by
<br />causing the action ar proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property
<br />ar other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any
<br />award ar claim for damages that are attrihutahle to the impairment of Lender's interest in the Property are hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Iaxtensian of the time for payment nr
<br />madificatioa of amortization of the sums secured by this Security Instrument granted by Leader to Borrower or any Successor
<br />in Interest of Borrower shall not operate to release the liability of Harrower ar any Successors in Interest of Harrower. i,cnder
<br />shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by
<br />the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities ar Successors in Interest of
<br />Borrower or is amounts less than the amount then dun, shall oat be a waiver of or preclude the: exercise of any right or remedy.
<br />13. Joint and Several Liability; Ca-signers; Successors and Assigns Bound. Harrower covenants and agrees that
<br />Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security lnstrurnent only to mortgage, grant and convey the
<br />co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Leader and any other Harrower can agree to extend, modify, forbear or
<br />make any accornrnodatians with regard to the terms of this Security Instrument nr the Nate without the co-signer's consent,
<br />Subject to the provisions of Section 18, any Successor in Interest of Harrower who assumes Horrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />this Security Instrument. Borrower shall not he released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind
<br />(except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Biarrbwer's default,
<br />tar the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not
<br />limited ta, attorneys' fees, property inspection and valuation fees. In regard to any other fees', the absence of express authority
<br />is this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable'Law.
<br />If the Loan is subject to a taw which sets maximum loan charges, and that law is finally interpreted sa that the interest
<br />or other loan charges collected or to be collected is connection with the Loan exceed the permitted limits, then: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (h) any sums already
<br />collected Pram Harrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this
<br />refund by reducing the principal awed under the Note ar by making a direct payment to Borrower. If a refund reduces
<br />principal, the reduction will he treated as a partial prepayment without any prepayment charge (whether or not a prepayment
<br />charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Hnrrnwcr will
<br />constitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />1S. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing.
<br />Any notice to Borrower iq connection with this Security Instrument shall be deemed to have been given to Borrower when
<br />mailed by first class mail ar when actnally delivered to Harrower's notice address if sent by other means. Notice to any one
<br />Borrower shall constitute notice to all Horrawers unless Applicable Law expressly requires otherwise. 1'he notice address shall
<br />be the Property Address unless Borrower has designated a substitute notice address by Halite to Lender. Borrower shall
<br />promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of
<br />address, then Borrower shall only report a change of address through that specified procedure. There may he only one
<br />designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it
<br />or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to
<br />Borrower. Any notice in connection with this Security Instrument shall not he deemed to have been given to Lender until
<br />actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the
<br />Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument.
<br />16. Governing Law; SeverabiLity; Rules of Construction. This Security Instrument shall be governed by federal law
<br />and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument
<br />are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly ar implicitly allow the
<br />parties to agree by contract or it might be silent, but such silence shall ant be construed as a prohibition against agreement by
<br />contract. In the event that any provision or clause of this Security Instrument nr the Note conflicts with Applicable Law, such
<br />conflict shall oat affect other provisions of this Security Instrument or the Note which can be given effect without the
<br />conflicting provision.
<br />As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter
<br />words ar words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion without any ahligation to take any action.
<br />1'~. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
<br />1$. Transfer of the Property ar a Beneficial Ynterest in Borrower. As used in this Section 18, "Interest in the
<br />Property" means any legal or beneficial interest in the Property, including, but oat limited to, those beneficial interests
<br />transferred in a hand far deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
<br />transfer of title by Hnrrawer at a future date to a purchaser.
<br />If all or any part of the Property or any Interest is the Property is sold ar transferred (ar if Borrower is oat a natural
<br />person and a beneficial interest in Harrower is sold or transferred) without Lender's prior written consent, Lender may require
<br />immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by
<br />Lender if such exercise is prohibited by Applicable Law.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ~~Form 30+128 ,7101
<br />Hankers Systems, Inc„ St. Cloud, MN Form Mb-1-NE 8/1712000 (pggp ,S of 7 jxlgpS) ,ly\\ \4
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