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20 1008851
<br />As a result af these a,greements, Lender, any purchaser of the Note, anather insurer, any reinsurer,
<br />any other entity, or any �liate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characteri,zed 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. If such agreement
<br />prnvides that an affiliate of L,ander takss a share af the insurer's risk in exchange for a share of the
<br />premiuins paid to the insurer, the airangement is often termed "captive reinsurance." Purther:
<br />(a) Any such agrcemeaats will not affect the axnounts that Borrower has agrced ta pay far
<br />Mortgag,e Insurance, or any other terms of the Loan. Such agreements will not incmase the amount
<br />Barrower will owe for Mortgage Insurance, and they will not ent�tle Borrower to any refund.
<br />(b) Any snch agrcements will nat affect the rights Borrower has - if any - with respect to the
<br />Mortgage In�urauce under the Hameowners Protection Act of 1998 or any othear law. These rights
<br />may include the right to reoeive aertain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, tn �ave the Mortgage Insuurance terininated aatoruatically, and/or to r�ceive a
<br />refund of any Mortgage Lisurance premiums that were unearned at the time of such cancelladon or
<br />termination.
<br />11. Assignment of Miscellaneous Procceds; Forfeiture. All Miscellaneous Proce�ds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds sha11 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 />Dwcing such repair and restoration period, I.ender shall have the right to hold such Miscellaneous Froceeds
<br />unCit Lsnder has had an opporCunity to inspect such Praperty 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 restoradan in a sin.gle disbursement or in a series of progress payments as the wark is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Praceeds, Lender shall not be required to pay Barrawer any interest or earnings on such
<br />Miscellaneous Fraceeds. If the restoration or repair is nat economically feasible ar I.ender's security would
<br />be lessened, the Miscellaneous Procseds 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 Section 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 sums 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 Property in which the fair market
<br />value of the Property imrnediately before the partial taking, destruction, or lass in value is equal to or
<br />greater than the amount of the sums secured, by this Security Instrument iminediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and L,ender atherwise 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 amount of the sums secured immediately before the
<br />partial taking, destruction, or lass in value divided by (b) the fair market value af the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance ahall be paid to Borrnwer.
<br />In the event af a partial tabng, destruction, or loss in value of the Properry in which the fair market
<br />value of the Property �nediately before the partial taking, destruction, or lpss in value is less than the
<br />amount of the sums s�ured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether ar not the suins are then due.
<br />If the Property is abandoned by Borrower, ar if, after notice by L,ender 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 authorized
<br />to collect and apply the Miscellaneous Praceeds either ta restaratian or repair of the Property or to the
<br />sums secured by this Security Instivment, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrawer Miscellaneaus Proceeds or the party against whom Borrower ha.s a right of action in
<br />�gazd to Miscellaneous Proceeds.
<br />Borrower shall 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 Property or other material impairment of I.ender's
<br />interest fw the Property or rights under this Securiry Instrument. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fennie Mee/Freddls Msc UNIFORM INSTRUMENT
<br />�-B(NE) 1os� � 1 Papa 8 of 15 in�t�a� - Form 3028 1/01
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