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<br />As a result of these agreernents, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any ather entity, or any affiliate of any af 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 Tnsurance, in
<br />exchange for sharing or rnodifying the rnortgage insurer's risk, or reducing losses. If such agreement
<br />provides that ax� af�liate of I.ender 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 agrced ta pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will nat increase the amount
<br />Borrower will owe for Mortgage Insurance, and the� will pot entitle Borrower to any refund.
<br />(b) Any such agreements vvill not affect the nghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, ta 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 />11. Assignment ot' Miscellaneous Proceeds; Forfeiture. All Miscellaneous Froceeds are hereby
<br />assigned to and shall be paid to J.ender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applie�i to restoration or repair of
<br />the Praperty, if the restoration or repaiar 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 completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken prornptly. Lender may pay for the
<br />repairs and r�storation in a single disbursernent or in a se�ies of progress payments as the wark is
<br />completed. Unless an agreexnent is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender sha�l not be required to pay Barrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restaratian ar 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 Secwrity InsCrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellanenus Praceeds shall be
<br />applied in the order provided for 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 sums secured by this Security Instrurnent, 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, ox loss in value is equal to or
<br />greater than the arnount of the swns secured by this Security Instrument irnrnediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agru�e in writing, the surns
<br />secured by this Security Tnstrument shall be reduced by the amount of the Miscellaneaus Proceeds
<br />znultiplied by the following fraction: (a) the total amount of the sums secured imrnediately before the
<br />partial taking, destruction, or loss in value divided by (b) th� fair market value of the Property
<br />irnrnediately before the partial taking, destruction, or loss in value. Any balanc� shall be paid to Barrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in whxch the fair market
<br />value af the Praperty irnmediately before the partia.l taking, destruction, or loss in value is less than the
<br />amount af the sums secured irnrnediately before the partia� 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 or nat the sums are then due.
<br />If the Property is abandoned by $orrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as de�ned in the next sentence) offers to make an award to settle a claitn for datnages,
<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 Prnceeds either to restoration or repair of the Property or to the
<br />surr►s secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Procceds.
<br />Bonower shall be in default if any actzon 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 af 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 - Fannie Mae/Freddie Mac UNI�ORM INSTRUMENT
<br />�-6���) (0811) Pege 9 of 15 Initiel Form 3028 1/01
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