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<br />Lender providing for such ternunation or until ternunation is required by Applicable Law. Nothing in this Section
<br />10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur
<br />if Borrower does not repay the Loan as agreed, Borrower is not a partq to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or rcaduce losses. These agreements are on ternns and
<br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These
<br />agreements may require the rnortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which rnay include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any pnrchaser of the Note, another insurer, any reinsurer, any other
<br />entity, or any affiliate af any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might
<br />be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or rnadifying
<br />the mortgage insurer's risk, or xeducing losses. If such agreement provides that an affiliate of T.ender takes a share
<br />of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe
<br />for Mortgage Insurance, and they will not entitle Borrawer to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage
<br />Insurance under the Homeowners Protectian Act of 1998 or any other law. These rights may include the right
<br />ta receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the
<br />Mortgage Insurance terminated automatically, and/or to receive a refund oP any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Procecds; ForPeiture. All Miscellaneaus Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Froperty,
<br />if the restoration or repair is economically feasible and I.+ender's security is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement
<br />or in a series of pxogress payments as the work is completcd. Unless an agreernent is made in writing or Applicable
<br />Law requires interest to be paid an such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
<br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall
<br />be applic�ci 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 Proceeds shall be
<br />applied to the sums secured by this Security Instnunent, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br />of the sums se�ured by this Security Tnstrument immediately before the partial taking, destruction, or loss in value,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrurnent shall be reduced
<br />by the amount of the Miscellaneous 1'roceeds multiplied by the following fraction: (a) the total amount of the sums
<br />secured irnrnediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
<br />Property 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 the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums
<br />secured irnmediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied to the surns secured by this Security Instrument whether
<br />or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender ta Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to rnake an award to settle a claim for darnages, Borrower fails ta respond to
<br />Lender within 30 days after the date the notice is given, L,ender is antharized to collect and apply the Miscellaneous
<br />Proceeds eithcr to restoration or repair of the Property ar to the surns secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Borrower has a right of action in regard to Miscellaneous Froceeds.
<br />Borrower shall be in default if any action ar proceeding, whether civil or crirninal, is begun that, in I.ender's
<br />judgment, cauld result in forfeiture of the Property or other material impairment of Lender's interest in the Property
<br />or rights under this Security Instruxnent. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in I,ender's
<br />judgment, precludes forfeiture of the Property or pther rnaterial impairment of Lender's interest in the Property ar
<br />rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2,
<br />12. Borrower Nat Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification af amortization of the surns secured by this Security Instrument granted by I.ender to Borrower or any
<br />NEBRASKA--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT DocMagic � aoo-sas-�3sz
<br />Form 3028 1/01 Page 6 of 11 www.docmagic.com
<br />NO3028.dot. �nl
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