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201008095
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201008095
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Last modified
11/1/2010 3:28:22 PM
Creation date
11/1/2010 3:28:21 PM
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DEEDS
Inst Number
201008095
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201008095 <br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration <br />or repair of the Property, if the restocation or repair is economically feasible and �,ender's <br />securlty is not lessened. Daring such repair and restnradan period, Lender shall have the rlght <br />to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such <br />Froperty to ensure the work has been completed to Lender's satisfaction, pravided that such <br />inspection shall be undertaken promptly. Lender may pay f�r the repairs and restoration in a <br />single disbursement or in a series of progress payments as the work is carnpleted. Unless an <br />agreernent is made in writing or Applicable Law reyuires interest to be paid on such <br />Miscellaneaus Proceeds, Lender shall not be required to pay Borrower any interest or earnings <br />an such Miscellaneous Proceeds. If the restoration or repair is not econornically feasible or <br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the surns <br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid to <br />Borrower. Such Miscellaneous Proceeds shall be applied in the order prnvided for in Section 2. <br />In the event of a total taking, destruction, or loss in value of the Praperty, the <br />Miscellaneaus Proceeds shall be applied to the sums secured by this Security Instrurnent, <br />whether or not then due, with the excess, if any, paid to $orrower. <br />In the event of a partial taking, destruction, or loss in value af the Property in which <br />the fair market value of the Property immediately before the partial taking, destruction, or loss <br />in value is eyual to or greater than the amount of the sums secured by this Security Instrurnent <br />immediately befare the partial taking, destruction, or loss in value, unless Borrower and Lender <br />otherwise agree in writing, the surns secured by this Security Instrument shall be reduced by the <br />amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the tatal amount <br />of the sums secured immediately before the partial taking, destruction, or loss in value divided <br />by (b) the fair market value af the Property immediately before the partial taking, destructian, or <br />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 Pro�erty in which <br />the fair market value of the Property immediately before the partial taking, destruction, or loss <br />in value is less than the amount of the sums secured immediately before the pardal taking, <br />destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the <br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrurnent whether <br />or not the sums are then due. <br />If the Property is abandaned 6y Borrower, or if, after notice by Lender to Borrower <br />that the Opposing Party (as defined in the next sentence) offers to make an award to settle a <br />claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice <br />is given, Lender is authorized to callect and apply the Miscellaneous Praceeds either to <br />restoration or repair of the Property or to the sums secured by this Security Instrument, whether <br />or not then due. "Opposing Party" rneans the third party that owes Sorrower Miscellaneaus <br />Proceeds or the party against whom Borrower has a right of action in regacd ta Miscellaneous <br />Proceeds. <br />�BRASKA — Single Falnfly --FaanieM�dFraddieMaci7NiFORM INSTRL7AffiN"1' T+arm 302e 1/01 <br />GCC- G3028-11 (09/Ol) (Page 11 of19) Initials: <br />
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