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2oi�o$�so <br />As a result of these agceezanents, I..ender, 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 mortgage insurer's risk, or reducing losses. Tf such agreement <br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share o� the <br />pxezniums 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. Sach agree�nents will not increase the amount <br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any ret'und. <br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the <br />Mortgage Insurance under the Homeowners Protection AM of 1998 or any other law. These rights <br />may include the right to receive certain disclasures, 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 af such �ancellation or <br />termination. <br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Praceeds are hereby <br />assigned to and shall be paid to L.ender. <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, pravided that such inspectian shall be undertaken promptly. Lender may pay for the <br />repairs and restoration 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 an such <br />Miscellaneous Froceeds, L.ender shall not be required ta pay Borrower any interest or earnuigs on such <br />Miscellaneous Proceeds. If the restoration or repair is not econornically 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 tY�e order pravided far in Sectian 2. <br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous <br />ProceEds shall be applied to the swns secured by this Security Tnstnunent, whether or nat then du�, 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 znarket <br />value of the Property immediately befare the partial taking, destructian, or loss in value is equal ta or <br />greater than the amount 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 swns <br />secured by this Security Instrurnent shall be reduced by the amount of the Miscellaneous Proceeds <br />multiplied by the following fraction: (a) the total amaunt of the sums secured immediately before the <br />partial taking, destruction, or lass in value divided by (b) the fair market value of the Property <br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �aid 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 Property irnrnediately before the partial taking, destructian, or loss in value is less than the <br />amount of the sums secured irnmediately before the partial taking, destructian, or loss in value, unless <br />�otxower and I.ender otherwise agree in writing, the Miscellaneaus 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 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 after the date the notice is given, Lender is authorixed <br />to collect and apply the Miscellaneous Proceeds either to restoration nr repair of the Property or to the <br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party <br />that owes �ozxower Miscellaneous Procceds or the pariy against whom Borrawer has a right of action in <br />regard to Miscellaneous Proceeds. <br />Borrower shall be in default if any action or proceEding, whether civil or crirninal, is begun that, in <br />L.ender's judgment, could result in forfeiture of the Property or other material impairment of Lender's <br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if <br />NEBRASKA - Single Family <br />�-6(NE) (oat�1 <br />� <br />Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br />Page 9 of 15 Initials: Fprm 3028 7/q1 <br />r s � ` � �.� � � �C' . � � � � <br />+ <br />