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201007574
<br />As a r�sult of these agreements, I,ender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate af any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portioan of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the rnortgage insurer's risk, or re�ucing losses. If such agreernent
<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 tezxx�ed "captive reinsurance. " Further:
<br />(a) Any such agrcements will not affect the amoants that Borrower has agreed to pay for
<br />Mprtgage Insurance, or any other terms of the Loan. Such agreements will not increase the amaunt
<br />Borrower witl owe for Mortgage Insurance, and they will not entitle Borrower to any refand.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insarance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain di�closares, to reqaest and obtain cancellation of the
<br />Martgage Insurance, to have the Mortgage Insurance terminateKl 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; Forfelture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to I.ender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applie�i to restoration or repair of
<br />the Property, if the restpration pr 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 T,ender has had an oppartunity ta inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspectian shall 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 or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, L.ender shall not be required to pay Banawer any interest or earnings on such
<br />Miscellaneous Proceeds. If tk�e restoration or repair is not econonnically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the surns secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Bonawer. 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 />Procesds shall be applied to the sums secured by this Security Instnunent, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event qf a partial taking, destruetion, or loss in value of the Property in which the fair nnarket
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secure�i by this Security Instru�x�ent immediately 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 Instrurnent shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following faraction: (a) the total amount of the sums secured irnmediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />irnmediately before the partial taking, destruction, or loss in value. Any balance shall be paid ta Bonower,
<br />In the event of a partial taking, destruction, or lass in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, ar loss in value is less than the
<br />amaunt of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Barrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applie� to the sums
<br />secure.cl by this Security Instrurnent whether or not the sums aze 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) offers to make an awazd to settle a cladm for damages,
<br />Borrower fails ta respand to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to colle�t and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />suxns secured by this Security Instrument, whether ar nat then due.. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Banower has a right of action in
<br />regazd to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />L.ender's judg�ment, could result in forfeiture of the Property or other material impairment of I.ender's
<br />interest in the Property or rights ur�der this Se�urity Instrwzient. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INS7RUMENT
<br />�-6�NE) (08111 Page 9 of 15 Initials: FOI'n'1 3028 7lO1
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