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20100782i
<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 from (or might be characterized as) a portion of Borrawer's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the rnortgage 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 af�ect the amounts that Sorrower has agreed to pay for
<br />Mortgage Insurance, or any other ternns of the Laan. Such �greements will not increase the amount
<br />Borrawer will owe for Mortgage Insurance, and they will not entitle Barrower to �ny refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect ta the
<br />Mort�age Insurance under the Homeowners ProtecHon Act of 1998 or any other law. These rights
<br />may ineNude the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Tnsurance terminated automatically, and/or to receive a
<br />refund of �ny Martgage Insurance premiums that were unearned at the time of such cancellation or
<br />termin�tion.
<br />11. Assignrnent 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 restoratian or repair is economically feasible and Lender's security is npt lessen�d.
<br />During such repair and restorativn periad, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Froperiy 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 oz in a series af progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Barrower 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 Praceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrowar. 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 sha11 be applied to the sums secured by this 5ecurity Instrument, 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 of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, ar lass in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the parCial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the surx�s
<br />secured hy this Security Insmunent shall be reduced by the ampunt of the Miscellaneous Proceeds
<br />rnultiplied by the following fraction: (a) the total amount of the sums secured imrnediately before the
<br />partial taking, dastruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destructian, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, ar lass in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is lass 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 Instruxnent 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 notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Froceeds either to restoration or repair of the Property or to the
<br />sums secured by this Secwrity Instrurnent, whether pr nat then due. "Opposing 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 action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property ar other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrurnent. Barrower can cure such a default and, if
<br />230942
<br />NEBRASKA - Single Family - Fannie M aelFreddie M ac UNIFORM INS7RUM EN7 a �� ,,' � j �
<br />�-6�NE) �oe�t) Page9 of 15 in�t�ais: ///�-,� � Form 3Q28 1/01
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