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201007951
<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) arnounts that
<br />derive from (or might he characterized as) a portion of Bor� s payrnents for Mortgage Insurance, in
<br />exchange for sharing or modifying the xnortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an affiliate of Lender takes a share af 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 fpr
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Sorrawer will awe for Mortgage Insurance, and they will not entitle Bnrrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage insurance under the Homeowners Protectian Act of 1998 or any ather law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mqrtgage Insurance, to have the Mortgage Insurance terminated automadcally, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />texminatian.
<br />11. Assignment of Miseellaneous Proceeds; Forfeiture. All Miscellaneous Froceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is dazt�aged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Froperty, if the restoration or repair is economically f'easible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hald such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been coznpleted to
<br />I.ender' 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 />campleted. Unless an agreernent is made in writing or Applicable �avv requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrawer any interest or eaznings on such
<br />Miscellaneous Proceeds. If Che restoration or repair is not economically feasible ar Lender's securiry would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by tk►is Security Instrurnent,
<br />whether or not then 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 to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Bort'ower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair xnarket
<br />value of the Property immediately before the partial taking, destruction, ar 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 surns
<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 sums secured immediately before the
<br />partial taking, destxuction, or loss in value divided by (b) the fair market value of the Properiy
<br />izrxmediately before the partial talcing, 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 tk�e fair market
<br />value of the Property immadiately before the partial taking, dastruction, or loss in value is less than the
<br />amount of the sums secured imrnediately before the partial talcin�, destniction, or loss in value, unless
<br />Sotrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the surns are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Barrower 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 Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not tlten due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whorn Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action ar proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Properiy ar other rnaterial impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Barrower can cure such a default and, if
<br />230943
<br />NEBRASKA - Single Family - Fannie M aelFreddie M ac UNIFpRM INSTRUM ENT
<br />�-B(NE) �osi t� Page 8 of 15 iniciai • Form 3028 1/01
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