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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 pf the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (ar might be characterized as) a portion af Barrawer's payments for Mortgage Insurance, in
<br />exchange for sharing oar modifying the mortgage insurer's risk, or reducing losses. Tf such agreement
<br />provides that an affiliate of L,�nder takes a share of the insurer's risk in exchange for a share 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 incarease the amount
<br />Borrower will owe for Mortgage Insurance, and they wfll not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rlghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Prptection Act aF 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, 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 Insarance premiums that were unearned at the time of sach cancellation or
<br />termination.
<br />1]. Assignment o� Miscellaueous Proceeds; Forfeatare. All Miscellaneous Proceeds 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 ar repair is ecanomically 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 completed to
<br />Lender's satisfaction, provided that such inspection 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 />cornpleted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miseellaneous Proceeds, �nder shall not be required to pay Borrower any interest or earnings an such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the surns secured by this Security Instrument,
<br />whether ar not then due, with the excess, if any, paid to Barrawer. Such Miscellaneaus Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In tl�e event of a total taking, destruction, or loss in value of the Praperty, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrawer.
<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 immediately before the partial takir►g, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instnunent immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender atherwise agree in writing, the surns
<br />secured by this Secnrity Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the surns secured iGZ�.mediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair rnarket value of the Property
<br />imnnediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destructian, or loss in value af the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or lass in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and I.ender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />Tf the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Oppasing Party (as de�ned in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower faals to respond to I..ender within 30 days after the date the notic� is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the P�roperty or ta the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrawer Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil ar crirninal, is begun that, in
<br />Lender's judgrnent, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Praperty or rights under this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie Mae(Freddte Mac UNIFORM INSTRUMENT '
<br />�-61NE) 108111 Page 9 of 15 �n�t�a�s: �. Form 302$ 7/01
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