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��10�7431
<br />As a result of these agreements, Lender, any purchasex 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 rnight be characterized as) a portion of Borrower's payments for 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 the
<br />premiums paid Co the insurer, the arrangernent is often termed "captive reinsurance." �urther:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay far
<br />Mortgage Insarance, or any other terms of the Loan. Such agreements will not inerease the amaunt
<br />Borrower will owe for Mortgage Insurance, and the� will not entitle Borrower to any �refund.
<br />(b) Any sach agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance nnder the Hameowners Protection Act of 199$ or any other law. These rights
<br />may include the right to receive certain disclosares, to request and obtain cancellation of the
<br />1klortgage 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 cancellation or
<br />termination.
<br />11, Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and sha11 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 I,ender has had an apportunity to inspect such Property to ensure the work has been compleCed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. I,ender may pay for the
<br />repairs and restoration in a single disbursement or in a series af progress payrnents as the wark is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest ta be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Bonower any interest or earnings on such
<br />Miscellaneaus Proceeds. Tf the restoration ox 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 Miscellancous Proceeds sha11 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 Prpperty, the Miscellaneous
<br />Froceeds shall be applied to the sums secured by this Security Instrument, whcther or not then due, with
<br />the excess, if any, 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 irnmediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the surns secured by this Security Instrument immediately befare the partial
<br />taking, destructian, or loss in value, unless Borrower and L.ender otherwise agree in writing, the sums
<br />secured by this Security Instrurnent shall be reduced by the amount of the Miscellaneous Proceeds
<br />rnultiplied 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 market value of the PropexCy
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<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 imrnediately before the partial taking, destruction, ar lass in value is less than the
<br />amaunt of the sums secured immediately before the partial taking, destrucCion, or loss in value, unless
<br />Borrower and L.ender ptherwise 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 Praperty is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />�pposing Party (as defined in the next sentence) offers ta make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 3Q 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 Party" means the third party
<br />that owes Borrower Miscellansous Proceeds or the party against whom Borrower has a right of actzon in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in defaulc if any action or proceeding, whether civil or crirninal, is begun that, in
<br />J..,ender's judgment, could result in forfeiture of the Property pr other material impairment of I,ender's
<br />interest in the Fropercy or rights under this Security Instrument. Barrpwer can cure such a default and, if
<br />acceleration has occurred, reinstate as prpvided in Section 19, by causing thc action or proceeding to be
<br />NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mac UNIFQRM INSTRUMENT WITW MEFtS
<br />�-6AINE) �vaio� Page 8 of 15 Initlals: � Form 3028 1101
<br />II I I I� II'I I I I II II�IIII I I II � IIII III I II I I II I II I I III
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