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201007342
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any rein~l~*,
<br />any other entity, or any affiliate of any of the foregoing, tray receive (directly or indirectly) aunts that
<br />derive from (or might be characterised as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage tn~~+~'s risk, or reducing losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />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
<br />Mortgage Insa~ra~nce, or any other terms of the Laan. Such agreeluuent8 will not increase the amount
<br />Borrower will owe for Mortgage Insurance and they will not endtle Borrower to any refund.
<br />(b) Any such agreements will not atlfect the rights Borrower has - if any -with respect to the
<br />Mortgage Insurance under due Honeown~s Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancelladon of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated auutomadcally, and/or to receive a
<br />refund of any Mortgage Ltsarance preuniuns that were unearned at the time of such cancelladon or
<br />terminadon.
<br />11. Asaignnent of Miscellaneous Proceeds; Forfeituu~e. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be aid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically 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 Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly, Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing ar Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Barmwer any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instnunent,
<br />whether or not then due, with the excess, if any, Paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied irr 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 secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />h1 the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or lass in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Insrilunent shall be reduced by the aunt of the Miscellaneous Proceeds
<br />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 (b) the fair marlcct value of the Property
<br />immediately before the partial taking, destruction, or lass in value. Ax 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
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, ar loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Irrsnument .whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Harrower that the
<br />Opposing Party (as defined in the next sentence) offers to malae an award to setde a claim for damages,
<br />Borrawe~r fails to respond to Lender within 3U days after the date the notice is given, bender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instnuent, whether or not then due. "Opposing Pally" means the third Party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action irr
<br />regard to Miscellaneous Pcoce&ls.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, wuld result in forfeiture of the Property or other material impairtr~trt of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA -Single Family - F~ruria Mao/Fraddie Mac UNIFQRM INSTRUMENT'
<br />-SINE) lost ~- Peep 9 m ~ s UYtiah: Farm 3Q28 1107
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