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<br />As a result of these agreements, Lender, any purchaser of the Note, anvther 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 be characterized as) a portion of Borrower' s payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortga�e insurer's risk, or reducin� losses. If such agreement
<br />provides that an affiliate of Lender takes a share o£ the insurer's risk in exchan�e for a share of the
<br />premiums paid to the insurer, the arrangement is often terix�ed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Sorrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrawer '�r�ill owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will nat affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insarance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosnres, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated aatomatically, and/or to receive a
<br />refuand af any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />] 1. Assignment 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 restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restaration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity 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 af progress payments as the work is
<br />completed. Unless an agreement is xnade 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 earniangs 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 not then due, with the excess, if any, paid to Borrower. Such Misc�llaneous Proceeds shall be
<br />applied itt the order provided for in Section 2.
<br />In the event af 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 Borrower.
<br />�n 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 equal to or
<br />greater than the amount of the sums secured by this Security Insmunent immediately beFore the partial
<br />taking, d�stxuction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be r�duced by the amount o£ the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount 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 balance shall be �aid 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 less than the
<br />amount of the surns 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 Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after natice 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 darnagas,
<br />Borrower fails ta respond to Lender within 30 days aftar the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either ta restoration or repair af 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 Proceeds or the party against whoran Horrower has a right of action in
<br />regard to Miscellaneous Prpce�ds.
<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 or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />23b945
<br />NEBRASKA - Single Family - Fannie M ae/Freddie M ac UNIFORM INSTRUM ENT
<br />�-6(NE) (oa��) Pege 9 of 15 iniciais: ,,. Fprm 3028 11D1
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