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201008�11
<br />As a result of khese agreements, T.ender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other sntity, ar any affiliate of any of the foregoing, may receive (directly ar indirectly) amounts that
<br />deriva from (or might be characterized as) a portion of Sorrower's paymc;nts for Mortgage Insurance, in
<br />�xchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />prcrvid�s that an affiliate of Y,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 amount�s that Borra�ver has agreed ta pay for
<br />Mortgage Insurance, ur any ather terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they �twill not enkitle Barrower ta any refund.
<br />(b) Any such agrcement,5 will nat affect khe ri�;htti Borrp�VVer has - if any - with respect to the
<br />Mortgage Ynsurance under the Iiomeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and ohtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automxtically, and/or to r�ceive a
<br />refnnd of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellan�aus Pr�ceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid tcy L,ender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applicd to restnration or repair of
<br />the 1'roperty, if We restoration or repair is ecanamically feasible and I,ender's security is not lessened.
<br />lluring such repair and restoration period, L�nd�r shall hav� the right ta hald such Miscellaneous Proceeds
<br />until I,end�r has had an appartunity to inspect such Property to ensure the work has been completed to
<br />Lendcr's satisfactic�n, provided that such inspection shall be undertaken promptly. T.ender may pay for the
<br />rcpairs and r�storatian in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requir�s intsr�st ta b� paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest ar �amings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or T.ender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether ar nc�t lh�n due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the ardcr provided for in Section 2.
<br />In ths �v�nt of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Prnce�ds shall b� 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 af a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the T'roperty 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 Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, th� sums
<br />secured by this Security Tnstrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the tatal amaunt of the sums secur�d imnnediat�ly before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value af th� Properiy
<br />immediately befare the partial taking, destruction, ar lass in value. Any balance shall bc paid tc� Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value af the Property immediately befare the partial taking, destructinn, c�r lass in value is less than the
<br />amount of lhe sums secured immediatcly befors the pariial taking, destructian, c�r loss in value, unless
<br />Borrower and L.ender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Tnstrument 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 />Opposing Party (as defin�d in thc next s�nlenc�) o,ffcrs ta make an award ko settic a claim for damages,
<br />�orrower 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 Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Tnstrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous 1'roceeds or the party against whom Barrower has a right of actian in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall bt 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 ather rnaterial impairment of L�nder's
<br />intsr�sl in th� PrUperty or rights und�r this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mae UNIFORM INSTRUMENT ��
<br />�-61NE11oeti) Pape9nf 15 Initial : , Farm 302$ 1/01
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