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201008861
<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 of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might he characterized as) a portion of Borrower' s payments for Mprtgage Insurance, in
<br />exchange for sharing or madifying the mortgage insurer's risk, or reducing losses. lf such agreement.
<br />provides that an affiliate of 1.ender takes a share of the insurer's risk in exchange for a share of the
<br />prezx�iums 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 nat increase the amount
<br />Sorrower will owe for Mortgage Insurance, and they wa11 not entitle Sorrower ta 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 Homeowners Protection Act of 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 Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc� hereby
<br />assigned to and shall 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 or repair 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 azi opportunity to inspect such Prpperty to ensure the work has been completed to
<br />Lender' s satisfaction, provided that such inspection shall be underCaken �romptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of pro�ress payments as the work is
<br />campleted. Unless an agreement is rnade in writing vr Applicable Law requires interest to be paid on such
<br />Miscellanepus Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoraCion or repair is not economically feasible or Lender' s security would
<br />be lessened, the Miscellaneous Froceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or nat then due, with the excess, if any, paid to Borrower. 5uch Miscellaneous Proceedti shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a total taking, destructian, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether ar 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 Froperty in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this 5ecurity 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 amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the surns secured imrnadiately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />irnmediately before the partial taking, destruction, or lpss in value. Any balance shall be 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 im�mediately 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 surns
<br />secured by this Security �nstrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or i£, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to rnake an award to settle a claim for dama�es,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is giveaa, Lender is authorized
<br />to collect and apply the Miscellaneous Froceeds either to restoration or repair of the Prvperty or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Pazty" rneans 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 Froceeds.
<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 Lender' s
<br />inter�st in the Prpperty or rights under this Security Instxument. Borrower can cure such a default and, if
<br />230975
<br />NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mac IINIFORM INSTRUMENT
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