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20�0��430
<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 (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portian of Sorrower' s payments for Mortgage Insurance, in
<br />exchange for sharing or xt�odifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an affiliate af Lender talces a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangemen.t is o£ten termed "captive reinsurance." Further:
<br />(a) Any such agreeme�nts will not affect the amounts that Borrawer has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will nvt entitle Sorrower to any refund.
<br />(b) Any such agreernents will nat affect the rights Sorrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right ta receive certain disclosures, to request �nd obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such c$ncellation or
<br />termination.
<br />11. Assignment af Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid 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 opporiunity to inspect such Property to ensure the work has been completed to
<br />Lendar' s satisfactipn, provided that such inspectian sha11 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 pr Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest ar earnings on such
<br />Miscellaneous Proceeds. If the restoratipn 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 5ecurity Instrument,
<br />whetk�er ar not then due, with the excess, if any, paid to Borrawer. Such Miscellaneous Proceeda sha11 be
<br />applied in the arder provided for in Section 2.
<br />In the event af a total taking, destruction, or loss in value of the Properiy, the Miscellaneous
<br />Proceeds shall be applied tv 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 af a partial taking, destruction, or loss in value af the Property in which the fair market
<br />value af the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amaunt of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Barrower and L�nder otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proc�eds
<br />multiplied by the following fractipn: (a) the total amount of the suix�s securad immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair markat value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrawer.
<br />In the event of a partial taking, destruction, or loss in value of the Praperty 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, or lass 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 Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as de�ned 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 nptice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoratipn or repair of the Propearty ar tn the
<br />sums secured by this Security Instruznent, whether or not then due. "Opposing Party" rneans the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or 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 Instrument. Borrower can cure such a default and, if
<br />230911
<br />NEBRASKA - Single Family - Fannfe M ae/Fraddie M ac UNIFORM IN5TRUM ENT �
<br />�-6(NE) �os� �) Page 9 of 15 Initials: �/ Form 3028 1101
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