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20f007484
<br />As a result of these a�reexz�ents, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoin�, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Horrawer' s payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the znnrtgage insurer's risk, or reducing losses. If such agreement
<br />pravides 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 �greements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage insnrance, ar any other terms of the Loan. Such agreements will not increase the amount
<br />Sorrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Horneawners Protection Act of 1998 pr any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage I�surance premiums that were unearned at the time of such cancellation or
<br />terminaHon.
<br />11. Assignment of Miscellaneous Praceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lendcr.
<br />If the Property is damaged, such Miscellaneous Proceeds sk�all be applied to restoration or repair af
<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 con:�pleted to
<br />Lender' s satisfaction, provided that such inspection shall be undertaken prornptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress paytnents as the work is
<br />completed. CTnless 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 on such
<br />Misc�llaneous Proceeds. If the restoration or repair is npt economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Froceeds shall be applied ta the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscsllaneous Proceeds shall be
<br />applied in the order provided for in Sectian 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 lnstrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event oF a parrial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destructian, or loss in value is equal to or
<br />greater than the amount of the sums s�cured by this Security lnstrument irnmediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />zx�ultiplied by the following fraction: (a) the total amount of the surns secured immediately befpre the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of tha Property in which the fair market
<br />value of the Property immediately before the partial taking, destructian, or loss in value is less than the
<br />amaunt of the surns secured 'unmediately before the partial taking, destxuction, or loss in value, unless
<br />Borrower and Lender otherwise agcee in writing, the Miscellaneous Froceeds shall be applied to the sums
<br />secured by this Security Instrument whether or nat the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Barrower that the
<br />Opposing Party (as defined in the next sentence) affers to make an award to settle a clairn 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 Prviceeds either to restoration or repair of the Property or to the
<br />suxns secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Horrower 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 Froperty or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrawer can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT
<br />�-6(NE) (D811) Paga 9 of 15 Initials:
<br />�
<br />230913
<br />Form 3D28 7/p1
<br />/ �Y ���
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