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20104773�
<br />As a result of these agreements, Lend�r, any purchaser of the Note, anather 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 might be characterized as) a portinn of Borrower's payments for Mortgage In�urance, in
<br />exchange for sharing or madifying 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 arrangement is often termed "captive reinsurance." Further;
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Martgage Insurance, or any other terms of the Loan. Such agreements will not increase the araount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrawer has - if any - with respect to 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 disclosures, to request and abtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance termin�ted automatically, and/or to receive a
<br />refund af any Mortgage Insurance premiums that were unearned at the dme of such cancellatinn or
<br />termination.
<br />I1. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Prpperty 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 Lender has had an opporlunity to inspect such Property to ensure the work has been completed to
<br />Lender' s satisfaction, provided that such inspection shall be undertalcen promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress paynr�ents as the work is
<br />completed. Unless an agreement is znade 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 />Miscellaneous Proceeds. If the restoration or 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 npt tlien 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 />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied ta the sums secured by this Security Instruxnent, whether 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 rnarket
<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 Instrument nnmediately before the partial
<br />taking, destruction, ar 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 />multiplied by the following fraction: (a) the total amount of the surns secured immediately before the
<br />partial taking, destruction, ar loss in value divided by (b) the fair market value of the Properry
<br />immediately before the partial taking, destructinn, or loss in value. Any balance shall be paid to Borrower.
<br />ln the event of a partial taking, destruction, or loss in value of the Froperty in which the 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 izximediately befare the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneaus 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 fails to respond to Lender within 30 days after the date the noticc 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 />surns secured by this 5ecurity Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whoam $orrower 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 jud�ment, could result in forfeiture of the Froperty or other material unpairxnent of Lender's
<br />interest in the Prap�rty or rights under this Security Instrument. Borrower can cure such a default and, if
<br />230927
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFpRM INSTRUMENT
<br />�-s(NE) (0811) Page9 of 15 ininais Form 3028 1/01
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