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<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 foregping, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a partipn of Borrower' s payxnents for Mortgage lnsurance, in
<br />exchange for sharing or modifying the mort�age insurer' s risk, or reducing lasses. If such agreement
<br />provides that an affiliate of Lender takes a shaze 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." F'urther:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreetnents will not increase the amount
<br />Borrower vvill owe for Mortgage Insurance, and they will not entitle Sorrawer to any refund.
<br />(b) Any such agreements will not affect the rights Borrawer has - if any - with respect to the
<br />Mort�age Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the rrght to receive certain disclosures, ta request and obtain cancellation of the
<br />Martgage Insurance, to have the Mortgage Insurance terminated automatically, and/ar to receive a
<br />refund of any Mortgage Insurance premiunns that were unearned at the time af such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Farfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and sha11 be paid to Lender.
<br />If the Property is damaged, such 1Vliscellaneous Proceeds shall be applied to resCoration 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 restoration period, Lender shall have the right to hold such Miscellaneaus Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensur� the work has been cornpleted to
<br />�ez�der's satisfaction, provided that such inspectian shall be undertaken promptly. Lender may pay for the
<br />repairs and restoratipn in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is rnade in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shal] not be required to pay Borrower 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 Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether pr 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 lass in value of the Property, the Miscellaneous
<br />Proceeds shall be applied ta 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 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, or loss in value is equal to or
<br />greater than the amount o£ the sums secured by this Senurity Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Leaader atherwise 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 af the sums secured ixr�mediately beFore the
<br />partial taking, destruction, ar 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 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 the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />arnaunt of the sums secured immediately before the parcial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Misc�llaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Pcoperty is abandoned by Borrower, or if, aftar notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make am award to settle a claim for darnages,
<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 5ecurity Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miacellaneaus Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Barrower 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 ix�apairrnent of Lender' s
<br />interest in the Property or rights under this Security lnstruraaent. Borrower can cure such a default and, i£
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM IN5TRUMENT
<br />�-B�N�) (0811) Page 9 of 15 Initials:
<br />�
<br />230948
<br />Form 3028 1/D1
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