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<br />L.ender providing for such termination or until ternunation is required by Applicable Law. Nothing in this Section
<br />10 affects Borrower's obligation to pay interest at the raCe pz'ovided in the Note.
<br />Mortgage Insurance reimburses Lander (or any entity that purchases the Note) for certain losses it rnay incur
<br />if Borrawer does not repay the I.oan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and znay enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and the ather party (or pa�ties) to these agreernents. 'I'hese
<br />agreements may require the mortgage insurer to make payrnents using any source of funds that the mortgage insurer
<br />rnay have available (which may include funds obtained from Mortgage Insurance premiurns).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, ar any af�liate of any of the foregoing, rnay receive (directly or indirectly) atnounts that derive from (or might
<br />be characterized as) a portion of Barrower's payments for Mortgage Insurance, in exchange for sharing or modifying
<br />the nnortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share
<br />of the insurer's risk in exchange for a share of the premiurps paid to the insurex, the arrangement is often termed
<br />"captive reinsurance. " Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Sach agreements will not increase the amount Borrower will owe
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has � if any - with respect to the Mortgage
<br />Insurance under the Homeawners Protection Act af 1998 or any other l�w. These rights may include the right
<br />to receive certain disclosures, to request and obtain cancellation nf the Mortgage Insurance, to have the
<br />Mortgage Insurar�ce terminated automatically, and/or to recelve a refand of any Mortgage lnsurance premivans
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment oF Miscellaneous Proceeds; k'orfelture. All Miscellaneous Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and
<br />restoration periad, Lender shall have the right to hold such Miscellaneous Proceeds until L.ender has had an
<br />opportunity to inspect such Property tn ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall be undertaken promptly. L.ender may pay for the repairs and restoration in a single disbursetnent
<br />or in a series of progress paynaents as the work is completed. Unless an agreement is made in writing or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration ar repair is not ecnnomically feasible or
<br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or nat then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall
<br />be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security lnstrurnent, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value af the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br />of the sums secured by this 5ecurity Instrument immediately before the partial taking, destruction, or loss in value,
<br />unless Borrower and Lender otherwise agree in writing, the suzns secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fractian: (a) the total amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value. Any balance shall b� paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property imrnediately before the partial taking, destruction, or loss in value is less chan the amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether
<br />or not the surns are then due.
<br />If the Property is abandoned by Borrower, ar if, after notice by L,ender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to seCtle a claim for damages, Borrower fails to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorizad to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instruznent, whether
<br />or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the paxty
<br />against whom Borrower has a right of acCion in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in foarfeiture of the Property or other material im�airment of Lender's interest in the Property
<br />nr rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be disrnissed with a ruling that, in Lender's
<br />judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. The proceeds of any award or clairn for damages that are attributable to the
<br />impairment of Lender's interest in the Praperty are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration ar repair of the Propsrty sha11 be applied in the
<br />order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tirne for pay�aaent ar
<br />modification of arnortization of the sunns s�cured by this Security Instrument granted by Lender to Borrower ar any
<br />NEBRASKA--Singla Femily--Fannie Mae/Freddie Mac IJNIFORM INSTRUM�NT DocMagic s�� soo-sas•>3ss
<br />Form 3028 1l01 Page 6 of 11 www.docmagic.com
<br />Ne3028.dot.xml
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