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201008i9i
<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) amounts 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 rnortgage insurer' s risk, or reducing losses. If such agreernent
<br />pravides that an affiliate of Lender ta1ces a share of the insurer' s risk in exchange for a share of the
<br />prenaiums 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 for
<br />Mortgage lnsurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Sorrower will owe far Mortgage Insurance, and they will not entitle Sorrower to any refund.
<br />(b) Any such agreements will not affect the rights Barrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time uf such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeitu�re. 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 Prpperty, 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 suck� 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 disbursernent pr in a series of progress payments as the work is
<br />completed. Unless an agraement is made 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 earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is nat 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 Miscellaneous Proceeds shall be
<br />applied in t1�e order provided for in Section 2.
<br />In the event of a total taking, destructipn, pr loss in value of the Property, the Miscellaneous
<br />Proceed5 shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrawer.
<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 equa] to or
<br />greater than the arnount of the sums secured by this Securiry Instrument immediately before the partial
<br />taking, destruction, or lvss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount oF the Miscellaneous Proceeds
<br />tnultiplied by the following fraction: (a) the total amaunt of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Froperty
<br />immediately before fhe partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In tUe 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 />amount of the sums secured immediately beFore the partial taking, destruction, or loss in value, unless
<br />Sarrawer 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 �orrow�r, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as d�fined in the next sentence) offers to xnake an award to settle a claim for dama�es,
<br />Borrower fails to respand to Lender within 30 days after the date the notice is given, Lender is autharized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair pf the Property or to the
<br />sums secured by this Security Instrument, whether or nat then due. "Opposing Party" rneans 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 Proceeda.
<br />Borrpwer shall be in default if any action or praceeding, whether civil or criminal, is begun that, in
<br />Lender's jud�rnent, could result in forfeiture of the Prpperty or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Barrvwer can cure such a default and, if
<br />10-0�-00004s
<br />NE8RA5KA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENt C �
<br />�-6(N�) (os��) Pagee of 15 iniiisis• �C:�{ Form 3028 1/01
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