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<br />V4 WBCD LO1� � 5030716ZZ
<br />risk in exchange for a share of the premiums paid to the insurer, the arrangement is vitert termed "captive reinsurance,"
<br />Further:
<br />(a) Any �uch egr�nmant� wiil nat effect the emounts that �3arrawer h�s agreed to pay for Martgage
<br />In�uwance, or any nther tarms of the Laan. 3uch agreements will not increase the amount Borrower will owe for
<br />Mortg�g� Insurance, and thay wi4 not ontNtl� Barrawar to any ratund.
<br />(b) Any such agre�monts wili not aifeot the rights Bnrrower has - If any - with respact to tha Martgago
<br />Insuranc� urrd�w the Hottteawnars Prot�ctlon Act af 1998 or any other I�w. Th�a� rights may #nclude the rpght ko
<br />reaeive certain dlscfoaures, to requ�eat �nd obtain canceltation of the Mortgage Insurance, to have the Mortgage
<br />Insurenae tarrr�in�ted autamatiaally, and/vr ta receive a refund af any Mortgage Insursnce pramlums �at were
<br />anearned at the ti�ne of such cancellatlon or termin�tion.
<br />11. Assignment of Mtaaalianeous Pwaceedg; FarFeituta. A11 Misceilaneous Proceeds are hereby assigned to and
<br />shall be paid tn [��nder.
<br />If the Praperky is damaged, such Miscellan�c�us Proceeds shall be applied to restoration ar repair of the F'raperty,
<br />if the restoration or repair is economicaliy feasible and Lender's security is nnt lessened, During such repair and
<br />restaration period, l.ender shall have the righttv hald such Miscellaneous Proceeds until L�nder has had an appartunity
<br />to insp�ct such Praperty to ensure thewprk h�s been cpmpleted to Lender's satistaction, pravided that such inspectian
<br />shall be undertaken pramptly. Lender may pay far the repairs and restpration in a single disbursement ar in a series af
<br />pragress payments asthework is completed. Uniesa an agreement is made inwriting arApplicable Law requires interest
<br />to be pald an such Miscellaneous Prnceeds, Lender shall not be required to pay Borrawer any interest or earnings on
<br />such Miscellaneaus Proceeds. If th� restaration or repair is nat econornically feasible or Lender's security would be
<br />lassened, the Miscellaneous Praceeds shall be applied to the sums secured iay this Security Instrument, whether ar not
<br />then due, with the excess, i� �ny, paid to Bnrrower. 5uch Misceilaneaus Proceeds shalt he appiied in the order provid�d
<br />for in 5ectian 2.
<br />In the event of a total taking, destruatian, ar Nvss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this 5ecurity Enstrument, whether or npt then due, with the excess, if any, paid ta
<br />Borrawer.
<br />In the event of a partial taking, destruction, or foss in value ofthe Property in which thefair marketvalue afthe Property
<br />immediately befor� the partiel taking, destructian, ar loss in value is equal ta ar grsater than th� amaunt af the sums
<br />secured by this Security Instrument immediately before the partial taking, destructinn, nr loss in value, unlsss Borrower
<br />and Lender crtherwise agree in writing, the sums secured by this Security Instrument shaA be reduced by the amaunt
<br />of the Miscellaneaus I'roceeds muftiplied by thefollawingiractian: (a) the total amount of the sums secured irr►mediately
<br />before the partial taking, destruction, or loss in value div�ded by (b) the fair market value of the Property immediately
<br />befare the partial taking, destruction, ar loss in value. Any balance shall 6� paid ta Borrower.
<br />In the event af a partial taking, destructian, ar loss In value of the Property in which the fair market value ofithe Property
<br />immediately before the partial taking, destruction, or ioss in value is less than the amount af the sums secured
<br />imm�diately I�efore the partial taking, destructian, pr loss in value, unless Borrower and I...ender atherwise agree in
<br />wribng, the Miscellaneous I'rpceeds shall be applied to the sums secured by this Security Instrument whether or not
<br />the sums are �hen due.
<br />Ifthe Praperky is abandoned by Borrower, orif, afternotice by Lenderto Borrcawerthatthe Op�aasing Parky (as dofined
<br />in the next sent�nce) offers to make an �watd ta settle a claim for damages, Barrower fails to respond to Lender within
<br />�0 days afiter #he date the notice is given, Lender is authorized to collect and apply the Miscellaneous Prace�ds either
<br />ta restaration or repair af the Praperry or ta the sums secured by this Security Instrument, whe#her ar not then du�.
<br />"Opposing Parky" means the thirc( party that owes Borrower Miscelfaneous praceeds ar the party against whom
<br />Barrower has a right of action in regard to Miscellanepus Proceeds.
<br />8arrowershall be in default'rfany actian or prqceeding, whether civif or crimirtal, is begun that, in Lend�r's judgment,
<br />cnuld result in forfeiture af the Property or ather material impairment of Lender's interest in the property ar righ#s under
<br />this 9ecurity Instrument. BarroWer can cure such a default and, if acceleration has occurred, reinstate as provided in
<br />Sectian 19, by causing the action or proceeding tv be dismissed with a ruling that, in Lender's judgmenC, precludes
<br />farfeiture of the Property or ather materiai impairment af Lender's interest in the Praperty or righ#s under this Security
<br />Instrument. The proc�eds of any award or claim for damag�s that are attributahle to the irnpairment qf L.endar's inter�st
<br />in the Praperty are hereby assigned and shatl he paid to Lender.
<br />All Misaellaneous Praceeds that are nat applied to restaration or repair af the Property shall be applied in th� order
<br />pravided far in Section 2.
<br />12. Borrowor Not Ftoloa�svd; Fotlaearanco By Londer Nat a Walver. Extension of the time for payment ar
<br />modiiicatian of amartization of the sums secured by this Security instrument granted by Lender to 8orrow�r ar any
<br />Successor in lnterest of 8orrower shall nat aperate to release the liability nf Bnrrnwer or any Successors in Interest of
<br />Borrower. t_ender shalf nvt be required to commence prnceedings against any Successor in Interest af �orrower or to
<br />refuse #o extend time for payment or otherwise modify amortizaticn of the sums secured by this 5ecurity Instrument by
<br />reason of any demand made by the original Borrawer or any Successors in Interast of Borrower. Any fort�earance by
<br />Lender In exercising any right or remedy including, withaut limitation, Lender's acceptance of payments fram third
<br />persons, entities or Successars in In#erest of Borrower or in amaunts )ess than the amount then due, shall not be a waiver
<br />vf or preclude the exercise af any right ar remedy,
<br />13. Jolnt and 5everal Liabili#y; Co-slgn�rs; Successars and A�slgns 8ound. BQrrawer cevenants and agrees
<br />that Bar�awer's vbligatians and liability shall be joint and several. Hawever, any Borrawer who co-signs thi� 8ecurity
<br />instrum�nt but does not execute the Note (a "�o-signer"): (a� is ca�igning this Security lnstrument only ta mvrtgage,
<br />grant and cpn�ey the co interest in the Property urtder th� te�ms of this 5acurity Irtstrument; (b) is not personally
<br />obligated to pay the sums secured by this 5ecyrity Instrument; and (c) agrees that Lender and any other 8orrower oan
<br />agree to extend, mndiiy, fvrbear er make any accarnmodations with regard to the terms af this Security Instrument ar
<br />the Note withaut the co-signer's consent.
<br />Su.bject to the pravisians of Seetion 1 B, any Successpr in Interest of Borrower whn assumes �arrawer's obligations
<br />under this Security tnstrument in writing, and is approved by Lend�r, shall abtain aN of Borrower's rights and benefits
<br />under this Security Instrument. Borrawer shall not be released from Bqrrc�wer's obligations and liability under this
<br />Security Instrument unless Lender agrees to such rel�ase in writing. The covenants and agreements of this Security
<br />Ins#rument shall bind (except as provided in Sec#ian 20) and benefit the suceessors and assigns of Lende .
<br />N�BRASKA-•Single Farrtily--Fannie Mae/Fraddla Mac 11NIF4RM IN9�'RUMENT Farm 3p28 i./Q1 I�titial� t
<br />� 1999•2pDi Onlina Documer�ts, Inc. Pa�A 6 pT 9 N DEEp tl�"05
<br />10-29-201Q 12:d7
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