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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 aff3liate of any af the foregoing, may receive (directly nr indirectly) amnunts that
<br />derive from (or rnight 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. If such agreement
<br />pravides that an affiliate of Lender 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 tlie amounts that Borcower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not inerease the amount
<br />Sorrower will owe for Mortgage Insurance, and they will nat entitle Sorrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Horneowners Protection Act of 1998 ar any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage I��surance, ta have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of an,y Mortgage 'Insurance premiums that were unearned at the time of such cancellation ar
<br />termination.
<br />11. Assignment af Miscellaneous Proceeds; Forfeituce. All Miscellaneous Proceeds are hereby
<br />assigned to and sha11 be paid to Lender.
<br />I£ the Property is dannaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is econamically 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 ta
<br />Lender's satisfaction, prpvided that �uch inspection shal] be undertaken prornptly. Lender may pay for th�
<br />repairs and restoration in a single disbursement or in a series of progress payrnents as the wark is
<br />completed. Unless an agraement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender sha11 not be required to pay Borrower any interest or earnings on such
<br />Miscellaneaus Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessen�d, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with Che excess, if any, paid to Sorrower. Such Miscellaneous Proceeds sha11 be
<br />applied in the order provided for in Section 2.
<br />In the event of a total takin�;, destruction, pr loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by tl�is Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Barrower.
<br />ln the event of a partial taking, destruction, or loss in value of the Froperty in which the fair market
<br />value of the Property irnmediately befare the partial taking, destruction, or loss in value is equal to ar
<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 sums
<br />secured by this Security Instrument shall be reduced by the ampunt of the Miscellaneous Proceeds
<br />multiplied by the following fractipn: (a) the total amount of th� sums secured irnrnediately befor� the
<br />pat taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />imznediately before the partial taking, destructian, or loss in value. Any balance shal] be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value pf the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss 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 Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrurnent whether or nat the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by I.�ender to Barrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to sertle a claim for daznages,
<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 Che Miscellaneous Proceeds either to restoration or 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 Borrower 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 nr criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairrnent of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />230971
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFpRM INSTRIIMENT ('-
<br />�•s(N�) (0811) Page9 of 15 Initials: ��J. F01'nl 3028 �/0'�
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