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2010p76�3
<br />As a result of these agreernents, 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) arnounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortga�e 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 to the insurer, the arrangernent is often termed "captive reinsurance." Further:
<br />(a) Any such a�reements will not affect the amounts that Sorrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Sach agreements will not increase the amount
<br />Borrower will owe far Mortgage Insurance, and they will npt 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 Hameowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and abtain cancellatinn of the
<br />Mortgage Insurance, to have the Mortgage insarance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation ar
<br />termination.
<br />11. Assi�nment of Miscellaneous Proceeds; ForFeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneoua 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 opportunity to inspect such Property to ensure the work has been completed to
<br />Lender' s satisfaction, provided that such inspection shall be undertaken promptly. Lender xnay pay for the
<br />repairs and restoration in a single disbursement or in a series of progresti payments as the work is
<br />cornpleted. Unless an agreement is rnade in writing or Applicable Law requires interest to be paid on such
<br />Miscellanenus Proceeds, Lender 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 ]essened, 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 />ln the event of a total taking, destruction, or loas in value of the Property, the Miscellaneous
<br />Praceeds shall be applied to the sums secured by this Security Instrurnent, whether or not then due, with
<br />the excess, if any, paid to Sorrower.
<br />In the event of a partial taking, destruction, or loss in value af the Property in which the fair market
<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 secured by this Security Insts immediately before the partial
<br />talcing, destruction, or loss in valu�, unless Borrower and Lender ptherwise agree in writing, the sums
<br />secured by this SecuriCy Instrument shal] be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the followin� fraction: (a) the total axz�ount 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 />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Barrower.
<br />ln the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately befare the partial taking, destruction, or loss in value is ]ess than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss 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 defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower faila to respond to Lender witliin 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds eitl�er to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposin� Party" means 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 actipn ar proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture af the Praperty or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrumant. Borrower can cure such a default and, if
<br />10-09-000018
<br />NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRl1MENT
<br />�-6�NE) (0811) Pa9e9 of �s �nitia�s: � Form 3028 1101
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