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201008145
<br />Lender required Mortgage Insurance as a candition of making the Loan and Borrower was required to make separately designated
<br />payments toward the premiums fpr Mortgage Insurance, Borrower shall pay the premiums required to maintain Mprtgage Insurance in
<br />effect, or to provida a non-refundahle toss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written
<br />agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this
<br />Section 10 affects 8orrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for cer#ain losses it may incur if Borrower does not
<br />repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter inta agreements with other
<br />parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the
<br />mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make
<br />payments using any sourca pf funds that the mortgage insurer may have available (which may include funds obtained from Mortgage
<br />Insurance premiums).
<br />As a result of these agreements, Lender, any purchasar of the Note, another insurer, any reinsurer, any other entity, or any affiliata of
<br />any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's
<br />payments fnr Mortgage Insurance, in exchange for sharing or modifying the mortgage 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 premiums paid to the insurer, the
<br />arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will nat affact the amounts that Borrower has agreed to pay for Mortgaga Ineurance, or any other terms of
<br />the 1.oan. Such agreements will not increasa tha amount Borrower wtll owe for Mortgage Insuranca, and they wlll not entitle Borrower to
<br />any rsfund.
<br />(b) Any such agreements will not affect tha rights Borrower has - if any - with respect to the Mprtgaga Inaurance under the
<br />Homeowners Protaction Act af 1998 or any other law. These rights may include the right to racaive certain dlsclosures, to request and
<br />obtain cancellation of tha Mortgage Insurance, to have the Mortgaga Insuranca tarminated automatically, and/or tn receive a refund of any
<br />Mortgaga Insurance premlums that were unearned at the tima qf such cancallation or terminatlon.
<br />19. Asaignment of Miscellaneoua Prpcaeda; Forfeiture. All Miscellaneous Proaeeds are hareby assigned to and shall be paid to
<br />Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restora#ion or
<br />repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right
<br />to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed
<br />to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a
<br />single disbursement or in e seriea of progress payments as the work is cnmpleted. Unless an agreement is made in writing or Applicable
<br />Law raquires interest to be paid on such Miscellaneous Proceeds, Lender shall not 6e required to pay Bprrower any interast or earnings on
<br />such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would 6e lessened, the
<br />Miscellaneous Proceeds shalf be applied to the sums secured by this Security (nstrument, whether or not then due, with the excess, if any,
<br />paid tn Bnrrower. Such Miace►laneous Proceeds shall be applied in the prdar provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />In the event of a partiel taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately
<br />before the partiat taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security
<br />Instrumant immediately before the partial taking, destruction, pr Ipss in value, unless Borrower and Lender otherwise agree in writing, the
<br />sums secured by this Security Instrument ahall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or lass in value divided by (b) the fair
<br />market value of the Property 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 (oss in value of the Property in which the fair market va�ue of the Property immediately
<br />before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking,
<br />destruction, or loss in value, unless Borrowsr and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the
<br />sums secured by this Security Instrument whether or not the sums are then dua.
<br />If the Property is a6andoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next
<br />sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the
<br />notice is given, Lender is authorized to collect and apply the Miscellaneous Prnceeda either to restoration or repair of the Property nr to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />6orrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in
<br />forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument.
<br />Borrpwer can cure such a default and, if acceleration has accurred, reinstate as provided in Section 19, by causing the action or
<br />proceeding to 6e dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that ara
<br />attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Prpperty shall be applied in the order provided for in
<br />Section 2.
<br />12. Borrnwer Npt Ralaanad; Forbearance By Lender Not a Waivar. Extension of the time for payment or modification of amortization
<br />of the sums secured by this Security Instrument granted by Lender to Borrower or any Successar in Interest of Borrower shall not operate
<br />to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings
<br />against any Successor in Interest of Borrower or to refuse to extend #ime for payment or otherwise modify amqrtization of the sums
<br />secured by this 5ecurity Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower.
<br />Any forbearance by Lender in exercising any righ# or remedy including, without limitatipn, Lender's acceptance of payments from third
<br />persons, entities or Successors in Interest of Borrower or in amnunts less than the amount then due, shall not be a waiver of or preclude
<br />the exercise ot any right or remedy.
<br />73. Jolnt and Several Liability; Cp-nignars; Successors and Assigns Bound. Borrower covenants and agrees that Barrower's
<br />obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does npt execute the
<br />Note (a "co-signer"►: (a) is co-signing this 5ecurity Instrument only to mortgage, grant and convey the co-signer's interest in the Property
<br />under the terms of this 5ecurity Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c)
<br />agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of
<br />this Security Instrument or the Note wi#hout the co-signer's consent.
<br />Subject to the provisions of Section 1$, any Successor in Interest of Borrower who assumes Borrower's pbliga#ions under this
<br />Securi#y Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument.
<br />Borrower shall not be released from Borrowar's obligations and liability under this Security Instrument unless Lender agrees to such release
<br />in writing. 7he covenants �nd agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the
<br />successors and assigns of Lender.
<br />1.4. .Lpan Charges. Lender may charge Borrower fees.fs��r serv..ices performed in connection with Borrower's default, for the purpose
<br />of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees,
<br />property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge
<br />a specific fee to 8orrower shalt not 6e construed as a prohibitipn on the charging of such fee. Lender may not charge fees that are
<br />expressly prohibited by this Security Instrument ar by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan
<br />charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be
<br />reduced by the ampuni necessary to reduce the charge to the permitted limit; and (b) any sums alrsady collected from 8orrower which
<br />exceeded permitted limits wilt be refunded to Borrower. Lander may choose to make this refund by reducing the principa) owed under the
<br />Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partiel prepayment
<br />without any prepayment charge (whether or not a prepayment charge is provided for under the Note►. Borrower's acceptance of any such
<br />refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such
<br />overcharge.
<br />15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to
<br />NEBRASKA-5ingle Family-Fannle Mae/Freddie Mac UNIFORM INSTRUMENT Form 302$ 1/01
<br />f'age 4 of 6
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