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<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 frorn (or might be characterized as) a portion of Borrower's payrnents for Mortgage Insurance, in
<br />exchange for sharin� or modifying the mortgage insurer's risk, or reducing losses. If such agreernent.
<br />provides that an affiliate of L�nder takes a share of the insurer's risk in exchange for a share of the
<br />prerniums paid to the insurer, tkae arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Sorrower has agreed to pay for
<br />Mortgage Insurance, or any ather terms of the Loan. Such agreements will nut 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 ta the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclasures, 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 $ny Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />] 1. Assignment 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 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 restoraCion period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until L�nder has had an opportunity to inspect such Properiy to ensure the work has been completed to
<br />Lender' s satisfaction, provided that such inspection 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 wark is
<br />completed. Unless an agreez�nent is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender sha11 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 wquld
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Znstrurnent,
<br />whether or npt then due, with the excess, if any, paid to Borrower. Such Miscellan�ous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a Cotal taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instxument, whetk�er 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 Praperty immediately before thc partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument 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 amaunt of the Miscellaneous Proceeds
<br />multiplied by the follpwing fraction: (a) the total amount of the sums secured imznediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value af the Property
<br />imzz�ediately before the partial taking, destructian, pr loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in whinh tha 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 loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the surns
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Sorrower, 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 clairn for damagas,
<br />Bvrro�ver fails to respond to Lender within 30 days after the date the natice is given, Lender is authorized
<br />to cvllect and apply the Miscellaneous Proceeds either to restoration or repair of the Froperty or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" xneans the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Sorrower has a right af actipn in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action pr proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or ather material impainn�ent of Lender's
<br />interest in tt�e Property ar rights under this Security Tnstrument. Borrower can cure such a default and, if
<br />� 230930
<br />NEBRASKA - Single Family -�annie M aelFreddie M ac IINIFpRM INSTRUM ENT /\
<br />�-6�NE)�osii� Page9of15 �nitia�s: � Form 3028 1/01
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