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201008945 <br />1098Z848 <br />immediately before the partial taking, destruction, or loss in value, unless Borrnwer and L,�nder otherwise agree in writing, the <br />Miscellaneous Proceeds shall be appliad to the sums secured by this Securiry Insmxment whether or not thc snms are then due. <br />Tf the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the <br />next sentence) offers to make an award to settle a claim for damages, Sarrower fails to resppnd to I.ender within 30 days after <br />the date the notice is given, Lender is authorized to callcct and apply the Miscellaneous Proceeds either ta restoration or repair <br />of the Property or to the sums secured by this Security Instrument, whether or not then due. "Qpposing Party" means the third <br />party that owes Borrower Miscellaneous Proceeds or the party against �uvhozn Borrower has a right of action in regard to <br />Miscellaneous Proceeds. <br />Borrower sha11 be in default if any action ar proceeding, whether civil or criminal, is be$un that, in Lender's judgment, <br />could tesult in forfeiture of the Property or other material impainnent of Lendcr's interest in th� Property or rights under this <br />Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by <br />causing the action or procceding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property <br />or other rnaterial impairment of Lender's interest in the Property or rights undcr this Security Instrument. The proceeds of any <br />awa.rd or claim for dumages that are attributable to the impairnnent of Lender's interest in the Property are hereby assigned and <br />shall be paid to Lender. <br />All Miscellaneous Froceeds that arc not applied to restorativn or repair af the Property shall be applied in the order <br />provided for in Section 2. <br />12. Borrower Nat Released; Forbearance By �,ender Not a Waiver. Extension of the time for payment or <br />modi�cation of amortiza.tion of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor <br />in Tntarest of Sorrower shall not operate ta release the liability of 13orrower or any Successors in Interest of Bonower. Lender <br />shall not be required to commence proceedings against any Successor in Intcrest of Borrower or to refuse ta extend time for <br />payment or otherwise madify amortization of the sums secured by this Security Instrument by reason of any demand made by <br />tlte original �orrower or any Successors in Interest of Borcower. Any forbearance by Lcndcr in exercising any right or rernedy <br />including, without limitation, Lender's acceptance of payments frora third p�rsons, entities or Successors in Tnterest of <br />Borrower or in arnounts less than the arnpunt then duc, sha(1 not be a waiver of or preclude the exercise of any right ar remedy. <br />13. Joint and Several Liabilfty; Co-signers; Successors and Assigns Bouad. Borrower covenants and agrees that <br />�Barrower's obligations and liability shall be joint and sevaral. However, Ri1y 50170WEI Whp CO -signs this Security Instrument. <br />but do�s not execute the Note (a "co-signer"): (a) is co-signing this Security Tnstrurnent only tp mortgage, grant and convey thc <br />co-signer's interest in the Property under the terma of this Security Tnstrument; (b) is nnt personally obli�ated to pay the sums <br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrowcr can agree to extend, modify, forbear or <br />make any accommodations with regard to the terms of this Security Instrument qr the Note withput ths co-signer's consent. <br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Barrower's obligations <br />under this Security Instrum�nt in writing, and is approvpd by Lender, shall obtain all of Borrower's rights and benefits under <br />this Security Instrument. Borrower shalt not be releas�d from Borrower's obligatinns and liability under this Security <br />Inatrument unless Lender agrees to such releas� in writing. The covenants and agreernents of this Security l'nstrument shall <br />bind (except as provided in Section 20) and benefit the successors and assigns of Lender. <br />14. Luan Charge�. Lender may charge 8orrower fees for scrvices performed in conneation with Borrower's default, <br />for the purpose of pr�tecting Lender's interest in the Property and rights under this Security Instrument, including, but nnt <br />limited to, attorneys' fees, property inspection and valuation fees. In regard to eny other fees, the absence of express authority <br />in this Security Instrument tp �harge a specific fee to Borrower shall not be canstrued as a prohibition on che charging pf such <br />fee. Lender may not charge fees that are expressly prohibited by this Security Instrurnent or by Applicable Law. <br />If the Loan is subject to a law which sets maximum lvan charges, and that law is finally interpreted so that the interest <br />or other loan charges collected or to be cpllected in connection with the Loan exceed the perrnitted limits, then: (a) any such <br />loan charge shall be reduced by the amnunt necess$ry to reduce the charge to the permitted limit; and (b) any sums already <br />collected from Borrawer which exceeded permitted limits will be refunded tq Bonrower. Lender may choose to make this <br />refund by reducing the principal qwed under the Note or by making a direct payment to Borr�wcr. If a refund reduces <br />principal, the reduction will be treated as a partial prepayment without any prepayrnent charge (whether or not a prepayment <br />charge is provided for under th� Note). Borrower's acceptance of any such refund rnade by direct payment to Borrower will <br />constitute a waiver of any right of act'ian Borrower might have arising out of such overcharge. <br />15. No#ices. All norices given by Barrower or I,ender in connection with this Security Instrument must be in writing. <br />Any natice to Borrower in connectian with this Security Instxument shall be deemed to have becn given to Borrowcr when <br />NEBRASKA—Singla Family—Fanqle MedFreddie Mac UNIFORM 11YSTRUMENT <br />� ��$. Pege 8 •of 12 <br />6/ u � ' � � � <br />"! <br />Form 3Q281/01 <br />