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201008934
<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 be characterized as) a portion of Borrower's payments for Mortgage lnsurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an at�liate c�f I.,ender takes a sharc of the insurer's risk in exchangc for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsarance. " Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agrced to pay f'or
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and the� will not entitic Borrower to any refund.
<br />(b) Any such agreements will not affect the r��hts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protectian Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to requcst and obtain cancellation of the
<br />Mort�age Insurance, to have the Mortga�e Insurancc tcrminated autornatically, and/or to receive a
<br />refund of any Mortga�e Insurance premwams that were unearned at the tirne of such cancellation or
<br />tcrmination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. Al] Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />lf the Prnperty is damaged, such Nliscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is ecnnomically 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 l�as had an opportunity to inspect sucl� Property to ensure the wnrk has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken prontptly. Lender may pay for the
<br />repairs ancl restoration in a sin�le disbursement or in a series of progress payments as the w�>rk is
<br />completed. Unless an agreemenc is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellane�us Proceeds, Lender shall not be required t�� pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically f'easihle or Lender's security would
<br />be lessened, the Miscellaneous Proceeds 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 Far 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 Sec�rrity Instz 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 valuc of the Property in which the fair rnarket
<br />value of the Property iirunediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the swns secured by this Security instniment inunediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and I.ender othcrwise agree in writirag, the sums
<br />secured by this Security Instniment shall he reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of' the sums secured irrunediately before the
<br />partial taking, destruction, or loss in value divided by (b) the Fair market value of the Properry
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �paid to Borrower.
<br />ln the event of a partial taking, destruction, or loss in value of the Property in wh�ch the fair market
<br />value of ihe Property iznmediately before the partial taking, destruction, nr 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 writii7g, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, afier notice by Lender 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 autl�orized
<br />to callect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instz whether or not then due. "Opposing Party" rneans the third party
<br />that owes Borrower Miscellaneous Proceeds or the party �.igainst whom Borrower has a right of action in
<br />regard to Miscellaneous Yroceeds.
<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 />interest in the Property or rights under this 5ecurity l�lstrument. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �1�, �
<br />�-6(NE) 108� il Page 9 of 15 initi h � Form 3028 7/07
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