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201007343
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsruer,
<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 far Mortgage Insurance, 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 the insurer's risk in exchange for a share of tbe
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." 1?ttrther:
<br />(a) Any such agreements will not affect the smaunts that Borrower has agreed to pay for
<br />Mortgage Lrsurance, or any other terms of the Laan. Such agreements will not iacr~ase the amount
<br />Borrower will owe for Mortgage Ynsaranoe, and they will: not entitle Harrower to any refund.
<br />(b) Any such agt~etrtents will not aaftfiect the rights Borrower has ~. ~' any -with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of:1998 or any other Iaw. These rights
<br />may include the right . to recdve ~ ci~rtaln fdiscloaures; ~• regttedat and obtain cancdlation of the
<br />Mortgage Clearance, to have the Mortpge ]insurance Terminated automatically, and/or to receive a
<br />refund of any Mortgage Ittsrurance premiwas that were umearned at the time of such cancellation or
<br />termination, •
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. • AlI Miscellaneous Proceeds are hereby
<br />assigned to and shall be aid m 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, prodded that such inspection. shall be undertakers 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 or Applicable Law requires interest. to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required, to pay. Borrower any interest or earnings vn such
<br />Miscellaneous Proceeds. If the restoration or repair is oat economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this. Security Instrument,
<br />whether ar not then due, with the excess, if any, paid w Borrower. Such Miscellaneous Proceeds shall be
<br />applied in 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 />In the event of a partial taking, destruction, or lass in value of the Property in which the. fair marlort
<br />value of the Property immediately before the partial taking, destruction, or,lass in valsre is equal to or
<br />greater than the amount of the sums secured by .this Security hsstrument immediately before the partial
<br />taking, destnrction, or loss in value, unless Borrower and Ler~er• otherwise agree in writing, tbe sums
<br />secured by this Secuuity Instrument shall be reduced by the annount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the earns secured immediately before the
<br />partial taking, destruction, ar lass in value divided by (b) tbe fair market value of the Property
<br />immediately before the partial taking, destnuction, or loss in value. An 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 tbe sums secured immediately before the partial taking, destnuction, or loss in value, unless
<br />Borrower and Leiadec otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security lsrstrwnerst whether or not the sums are then due.
<br />If the Property is abandoned by Borro~a-er, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender 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 Instrument, whether or not then due. Opposing P means the third
<br />that awes Borrower Miscellaneous Proceeds ar tbe party against whom Borrower has a right of action~in
<br />regard to Miscellaneous Proceeds.
<br />Harrower shall be in default if any action or proceeding, whether civil ar criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security lrsstrurnerst. Harrower can cure such a default and, if
<br />NEBRASKA - Sinple Family -Fenno Mae/Freddls Mao UNIFORM INSTRUMENT
<br />Q~-BINElroeiil P~9m~B ~dnw:~~ Fonn30Z8 7/07
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