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201008653
<br />LAA1R �: 3264272
<br />risk in exchangefot a share af the �remiums paid to the insurer, the arrangement is often termed "capti�e reinsurance. °
<br />Further:
<br />(a) Any auch agraemonts wlll not affact fh� s�mounts lhat Borrawer haa agreod to pay for Mortgago
<br />Insuranco, or any othar terms af ihv L.oan. Such agroomants wlll not increese thv amount Borrower wtll awe for
<br />Martgago Insuranca� and they wlll nat ondtla Borrowor ta sny r�fund.
<br />{b) Any such a�raamant� wlll nvt affoct tha rights 6orrawor haa► - It any - with respect ta the Mortgage
<br />Insuranc� undar tha Homaawnors Protqctlan Act of 1998 or e�ny od�er law. These rights may incfude tho rlght #o
<br />r�c�i�e aat�taln disclo�ures� to raquast and obtain cancvllatlan af th4 Mortgag� InsurancQ, ta hava the Mortgage
<br />Insuranco tarminatat! automatically, and/or to racQl�e � rofund of any MorGgage Insurance premlums that wero
<br />unearned at th� time o1 such cancallaticn or tarmEnatlon.
<br />11. Assignment of Mlac�llaneous PracQQds; Forfoituro. AA Miscellaneaus Proceeds are hereby assigned ta and
<br />shall be paid to l.ender.
<br />If the Property is damaged, such Miscellaneaus Proceeds shall be applied ta restnration or repair of the Property,
<br />'rf the restoration nr repair is economically feasible and Lander's security is nat lessened. During such repair and
<br />restoration periad, Lender shall have the rightto hold such Miscellaneous Praceeds until Lender has had an vpportunity
<br />tv inspect such Property to ensure thework has been completed to �.ender's sa�sfaction, prvvided that such inspectinn
<br />shal! be undertaken promptly. Lender may paytar the repairs and restoratlon in a single disbursement or in a series of
<br />progress paymerots as the work is campleted. Unless an agreement is made in writing orApplicable Law requires interest
<br />ta be paid on such Miscellaneous Proceeds, Lender shal! not be required to pay Borrawer any interest or earnings on
<br />such Miscellaneous proceeds. If the restoration or repair is nat ec�namically feasible or Lender's security would bs
<br />iessened, the Miscellaneous Proceeds shall be applied ta the sums secwret! by this Security Instrument, whether ar nat
<br />then due, with the excess, if any, paid ta Borrower. Such Miscellaneous Proceeds shall be applied in the order pravided
<br />#or in Section 2.
<br />In the event of a tota! taking, das#ruction, or ioss in vaiue of the property, the Misc�llaneaus Proceeds shall be
<br />applied ta the sums secured hy this Security Instrument, whether or not then due, with the excess, 'rf any, paid to
<br />Borrower.
<br />In the e�ent of a partial taking, destruction, ar lass in �alue of the Property in whicM the fair marketvalue of the Property
<br />immediately betore the partlal taking, destructian, or lass in value is equal to ar greater than the amount of the sums
<br />sacured by this Security Instrument immediately hefvre the partia) taking, destructian, ar loss in value, unless 6orrawer
<br />and Lender atherwisa agree in writing, the sums secured by this Security Instrument shail he reduced by the amount
<br />ofthe Miscellaneaus ProcQeds multiplied bythefollowingfraction: (a) thetotal amountofthesums seeured immediakely
<br />before the partial taking, destruction, or loss in value divided by (b) the fair market �alue crf the Property immediately
<br />before the partial taking, destruction, or ioss in value. Any baJance shall be paid to BorroWer.
<br />In the event of a partial taking, destruction, ar Iass in value of the Property in which thefair marketvalue af the Property
<br />immediately before the partial taking, destruction, or lass in value Is iess than the amaunt of the sums secured
<br />immediately before th� partial taking, destructipn, or ioss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Praceeds shall be applied to the sums secured by this Security lnstrument whether or nat
<br />the suma are then due,
<br />Ifthe Property is abandoned by Borrower, or if, atter notice by Lender to Borrawerthatthe Qpposing Party (as d�ned
<br />in the next sentence) affers to make an award to seltle a claim for damag�2s, Sorrawer fails ta respond to Lender within
<br />30 days after the date the notice is given, Lender is authQriaed ta collect and appty the Miscellaneaus Proceeds either
<br />ta restaration or repair af the Praperty or #o the sums secured by this Security lnstrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrowsr Miscellaneous Proceeds ar the party against whom
<br />Borrower has � right vf aati�n in regard to Miscellaneous Proceeds.
<br />Borrawer shall be in default if any action or prcceeding, whether civil or criminal, is begun that, in l.ender judgment
<br />could result in forteiture of the Pr�perty or other material impairment Qf Lender's interest in the Property or rights under
<br />this Security Instrument, Borran►er can cure such a default and, 'rf acceleration has occurred, reinsta#e as pravided in
<br />5ection 1 S, by causing the activn or praceeding tv be dismissed with a ruli�g that, in Ler�der's judgment, precludes
<br />forfeiture of the Property or other material impairment of L�nder's interest in the Property or rights under this Security
<br />Instrument. The praceeds oiany award or claim for darrtages that are attributabla ta the impairment of Lender's intetest
<br />in the Properry are hereby assigned and shall he paid ta Lender,
<br />All Miscellaneous Proceeds that are not applied ta r�storatio� or repafr af tf�e Property sha!! be applied in the order
<br />provided for in Sectien �.
<br />12. Borr�awer Not Raloased; Fvr�aaranca By Lendar Not a W�Ivar. Extension af the time f�ar payment ar
<br />modfication of amartizatian of the sums secured by this Security Instrument granted by Lender to Borrower or any
<br />5uccessor in Interest oi Sarrower shall not operate to release the liability of Borrower ar any Successors in Interest of
<br />Borrawer. Lender shall nat be required ta commence proceedings against any Successor in Interest o# Borrower c�r to
<br />refuse to extend time for payment or otherwise modify amartization nf the sums secured by this 5ecurity fnstrument by
<br />reason af any demand made by the original Barrawer ar any Successors in (nterest of Borrower. Any farbearance by
<br />Lender In exercising any right or remqdy including, wlthout limitation, Lender's acceptance crf payments from third
<br />persons, antities orSuccessors in Interestof Barrower ar in amounts less than theamountthen due, shall not be awaiver
<br />o# ar preclude the exercise of any right ar remedy.
<br />'13. Jo1M and Saveral llabillty; Co�lqnors; Succ�asors and Asslgns Bound. Borrawer covenants and agrees
<br />that Borrower's olaligations and liability shail be joint and several. Hawever, any Borrow�r who co-signs this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is cq-si�ning this Securlty Instrument anly to mortgage,
<br />grant and convey the co-signer's interest in the Praperty underthe terms vfthis Security Instrumen#; (b) is nat personally
<br />obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lendar and any other Bvrrower can
<br />agree ta extend, madiiy, forbear ar make any ac�ornmodations with regard to the terms of this Security lnstrument ar
<br />khe Note without the casigner's consent.
<br />5ubjact to the pravisions af Section 18, any Successvr in Interest of Bprrawer who assumes Borrower's obligations
<br />under this Seourity lnstrurnent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits
<br />under this Security Instrument. Borrower shall nat be relaased from Borrawer's obligations and liability under this
<br />Security lnstrument unless Lender agrees t� such release in writing. The covenan�s and agreements of this Security
<br />lnstrument shall bind (except as provided in S�ction 20) and benefit the successqrs and assigns af Lender �
<br />.� '
<br />NEBFtASKA-Single FAmily-Fannlo Ma�/Frrddt� Maa UNIFORM IN$TFtWMENT Farm 30Q8 i/07 Initi�l�s r f�i �.'
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