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2oioog347 <br />As a result of these agreements, L,�nder, any purchaser of the Note, another insurer, any reinsurer, <br />any other entity, or any affiliate of any of the foregaing, may receive (directly or indirectly) amounts that <br />derive frorn (ar might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in <br />exchauge for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreemenc <br />provides that an af�iliate of Lender takes a share of the insurer's risk in exchange for a shaze of the <br />premiums 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 Insurance, or any other terms of the Loan. Such agreements will not increase the amount <br />Borcower will owe for Mo� Insurance and the� will not entitle Bor�rower to any refund. <br />(b) Any such agreements will not at't the rights Borrower has - if any - with respect to the <br />Mortgage �nsurance under the Homeowners Protection Act of 199$ or any other law. These rights <br />nnay include the right to receive certain disclosures, to request and obtain cancellation of the <br />Mortgage Insurance, to have the Martgage Insurance terminated automatirally, and/ar to receive a <br />refund of any Mortgage Insurauce premiums that were anearned at the time of such cancellation or <br />termination. <br />11. Assignment of Miscellaneous Proceeds; Forfeiture. 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 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 Miscellaneous Proceeds <br />until Lender has had an opportunity to inspect such Property to ensure the work has been cornpleted to <br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the <br />repairs and restoratian in a single disbursement or in a series of progress payments as the work is <br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such <br />Miscellaneous Froceeds, Lender shall not be required to pay Borrower any interest ar earnings an such <br />Miscellaneaus Proceeds. If the restoration or repadr is anot economically feasible or Lender's securiCy 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 the order pravided for in Section 2. <br />In the event of a total taking, destructian, or loss in value of the Property, the Miscellaneous <br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or noC 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 rnarket <br />value of the Property irnmediately befarc the partial taking, destruction, ar lass in va,lue is equal ta or <br />greater than the annount of the sums secured by this Security Instrument immediately before the partial <br />taking, destruction, or loss 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 />multiplied by the following fraction: (a) the total amaunt of the sums secured imrnediately before the <br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property <br />immediately before the partial taking, destxuction, or loss in vaiue. Any balance sha11 be paid to Borrower. <br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair rnarket <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 partial taking, destruction, or loss in value, nnless <br />Borrower and I.�nder otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums <br />secured by this Security Instrurnent whether or not the sums are then due. <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the <br />Opposing Party (as de�med in the next sentence) offers to make an award to settle a claim for damages, <br />Bonower fails to respond to I.ender within 3Q days after the date the notice is given, Lcnder is authorized <br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Froperty or to the <br />sums secnred by this Secuz�ty Instrument, whether or not then due. "Opposing Party" means the thiard party <br />that owes Borrower Miscellaneous Proceeds or the party against whorn Borrower has a right of action in <br />regard to Miscellaneous Proceeds. <br />$orrawcr shall be in def�ult if any aCtion or proceeding, whether civil or criminal, is begun that, in <br />I.ender's judgment, could resulC in forfeiture of the Property or other macerial impairment of I.ender's <br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if <br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br />�-6(NE) loai i1 Page 9 of 15 in�s�ais: ���— Form 3028 1/01 <br />r,� '. , ' �,j l" : f .�. <br />