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20100�824
<br />As a result of these agre�ments, Lender, any purchaser of the Note, an.other insurer, any reinsurer,
<br />any other entity, or any affiliate of any af the foregoing, may receive (directly or indirectly) amounts that
<br />derive fronn (or might be characteriz�tl as) a portion of Bonower's payrnents for Mortgage Insurance, in
<br />exchange for sharing or madifying the mortgage insurer's risk, or re�ucing losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange far a share of the
<br />prerniuuns paid to the insurer, the arrangement is often tern�ed "captive reinsurance." Further:
<br />(a) Any such agrcements will not affect the amounts that Borrower has agrced to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insarance and they will not entitle Barrower to any refand.
<br />(b) Any such agreernents will not aft the rights Sorrower has - if any - with respect to the
<br />Martgage Insurance under the Homeowners Protection Act ot' ].99$ or any other law. These rights
<br />may include the right ta receive certain disclosures, to request and abtain cancellation of the
<br />Mortgage Insurance, to 1►ave the Mortgage �nsurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the ttme of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Praceeds; Forfeitare. All Miscellaneous Proceeds are hereby
<br />assigned to and sha�l be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proce�ds 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 lessen�d.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an apportunity 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 may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />complete�. 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 nqt economically feasible ar Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Se�urity Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proce�ds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a tatal taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taXc�ing, destruction, or loss in valua of the Property in whi.ch the fair market
<br />value of the Property irnrnediately before the partial taking, destruction, or loss in value is equai to or
<br />greater than the amount af the surns secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agr� in writing, the sums
<br />secured by this Security Instnzment shall be reduced by the amaunt of the Miscellaneous �'roceetls
<br />multiplied by the following fraction: (a) the total arnount of the sums secured immediately 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 balac�ce 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
<br />value of che 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, destaructian, or loss in value, unless
<br />�onower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the swnns
<br />secured by this Security Instniment whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, afCear notic� by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentenc�) 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 notice is given, Lender is authorized
<br />to collect and apply the Miscellaneaus Proceeds either to restoratian or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proce�ds 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 action or proceading, whether civil or criminal, is begun that, in
<br />Lender's judgrnent, could result in forfeiture of the Property or. other rnaterial iunpairment of Lender's
<br />interest in the Property or rights under this Security Instiu�ment. Bonower can eure such a default and, if
<br />NEBRASKA - 5ingle Family - Fannie Mae/Fraddia Mac UNIFORM IN57RUMENT
<br />�-6(NE) fosi i� Pege 8 of 15 Initia . ��� Fqrm 3028 7/01
<br />��� � �`d� ,' .`.,. i
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