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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 foregoing, rnay 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 far sharing or modif.ying the mortgage insurer' s risk, or reducing losses. If such agreement
<br />provides that an af�liate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is �ften 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 annaunt
<br />Barrawer will owe for Mortgage Insurance, and they will not entitle Borrower ta any refund.
<br />(b) Any auch agreements vvill not �ffect the rights Borrower has - if any - with respect to the
<br />Nlortgage Insurance under the Aomeowners Protection Act ot' 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation af the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated autornatically, and/or to receive a
<br />refund of any Mortgage Insurance pcenr►iums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneaus Proceeds; Forfeiture. All Miscellaneous Prpceeds are hereby
<br />assigned to and sha11 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 econornically feasible and Lender's security is not lessened.
<br />During such repair and restoration peripd, 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 completed to
<br />Lender's satisfaction, provided that such iz�spection shall be undertaken promptly. Lender may pay for the
<br />repairs and restorataon in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is xnade in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneou� Ptoceeds, Lender shall not be requir�d to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restaration or repair is not economically feasible or Lender' s security would
<br />be less�ned, 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 provided for in 5ection 2.
<br />In the event of a total taking, destruction, or losa in value of the Property, the Miscellaneous
<br />Proceeds sha11 be applied to the surns 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 Froperty in which the fair market
<br />value of the Properry imrnediately before the partial taking, destruction, or loss in value is equal to ar
<br />greater than the amount oF the sums secured by this SecuriCy Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Bprrower 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 fractipn: (a) the total amount of the sums secured ixrnmediately 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 caking, destruction, ar 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 Praperty immediately before the partial talcing, destruction, or loss in value is less than the
<br />amount of the surns secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds sha11 be applied to the sums
<br />secured by this Security Instrument whether or not the sums are than due.
<br />If the Froperty is abandoned by Borrower, or if after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days aft�r the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Froceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" rneans the third party
<br />that owes Borrower Miscellaneous Procaeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower sha11 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 Froperty or other material impairrnent of Lender' s
<br />interest in the Property or rights undar this Security Instrument. Borrower can cure such a default and, if
<br />230958
<br />NEBRASKA - Single Family - Fannie Maa/Freddie Mac UNIFORM INSTRUMENT ]
<br />�-6�NE) �oat�� PageB of 15 Initials� �� Form 302$ 1101
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