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201007344
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (direcxly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Harrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the rxrnrtgage insurer's risk, ar 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." Ixurther:
<br />(a) Any such agrreetneuts will not affect the amounts that Borrower Las agreed to pay for
<br />Mortgage Insurance, or any other temps of the Loan. Stirch agreem~ wW not increase the amount
<br />Borrower will owe for Mortgage lnsuirance, and they w1ll not e~Title Borrower to airy refund.
<br />(b) Any such agreements will not a~tt~ied the t~lgLts Borrower has - if any -with reaped ro the
<br />Mortgage Insurance under tLe Homeowners Protection Ad of 1998 or $ny other law. These is
<br />may include the right to receive certain disclosures, to request and obtain carlcellatlon of~the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to rexefve e
<br />refumd of any Mortgage Insura~we preminms that were unearned at the tirue of such cancellation or
<br />tenminatlon.
<br />11. Assigrrmeat of Miscellaneous proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If fire Property is damaged, such Miscellancaus Proceeds shall be applied to restoration ar repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is riot lessened.
<br />During such repair and restoration period, Lender shall have. the right to hold such Miscellaneous Proceeds
<br />until Lender has had as opportunity to inspect such Pro~rty to ensure the work has been, completed to
<br />Leader's satisfaction, provided that such inspection shall be ~ 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, L,euder shall not be required to Pay Borrower 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 Instrument,
<br />whether or not then due, with the excess, if any, paid to 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 Pmperiy, 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, dest<uction, or loss in value of the Property in which the fair market
<br />value of the Praperty 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 Instrumenut immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otber•vise agree in writing, the sums
<br />secured by this Security Lrstrurnent shall be reduced by the amount 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, ar loss in value divided by (b) the fair naarlcct value of the Property
<br />immediately before the partial takurg, destrtction, or loss in value. Any balance shall be laid to Borrower.
<br />In the event of a partial takitrg, destruction, or loss in value of the Property in which the fair marl~et
<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 t~ partial taking, destruction, or loss in value, unless
<br />13arrower and L,~der otLer~vise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secuured by this Security Instrument whether or not the sums are then dire.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to aanake an award to settle a claim fur damages
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lroder is authorized
<br />m collect and apply the Miscellaneous Proceeds either to r~estoratiorr or repair of the Property or to the
<br />sums secured by this Security lnsbnument, whether or not then due. "Opposing Party" means the third party
<br />tluu awes Borrower Miscellaneous Proceeds or the Party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrowex shall be in default if any action or Proceeding, whether civil or criminal, is begun that, inn
<br />Lender's judgment, could result in forfenture of the Property or other matelrial impairment of Leader's
<br />interest in the Properly or rights under this Security Instnrmrot. Borrower can circa such a default and, if
<br />NBRASKA - 5ingle Family - FannM Mee/FroddM Mee UNIFORM INSTRUMENT ~.~ ~ ~,, 2
<br />-BINE)108~ ~ 1 ~a o m ~ 6 irises: U~ /~ ~LYJ Farm 8028 1 /01
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