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2010090E4
<br />Lender prpviding for such ternvnation or until termination is required by Applicable Law. Nothing in this Section
<br />10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reirnburses Lender (or any entity that purchases the Note) for certain losses it may incur
<br />if Borrower does not repay the Loan 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 may 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 other party (or parties) to these agreements. These
<br />agreements may require the rnortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance prerniurns).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, or any affiliate of any of the foregaing, may receive (directly or indirectly) amaunts that derive from (or might
<br />be characterized as) a portion of Bprrower's payments for Mortgage Insurance, in exchange for sharing or modifying
<br />the mortgage 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 af the premiums paid to the insurer, the arrangement is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Barrower has agreed to pay for Mortgage
<br />L�surance, or any other terms af the Loan. Such �greements will not increase the amount Borro�ver will owe
<br />for Mortgage Insurance, and they will nat entitle Borrower to any refund.
<br />(b) Any sach agreements will not affect the rights Borrower has - if any - with respect ta the Mortgage
<br />Insurance under the Homeowners Protection Act of 199$ or any other law. These rights rnay include the right
<br />to receive certain disclpsures, to request and obtain cancellation of the Mortgage Insurance, to have the
<br />Mortgage Insurance terminated autornatically, and/or to receive a refund oP any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneaus Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Property is darnaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair is economica�ly feasible and Lender's security is nat lessened. During such repair and
<br />restoration period, I.ender shall have the right to hold such Miscellaneous Proceeds until L.ender has had an
<br />opportunity to inspect such Property to ensuxe the work has been completed to Lender's satisfaction, provided that
<br />such inspectian shall be undertaken promptly. Lender may pay for the repairs and restaration in a single disbursement
<br />or in a series af prpgress payments as the work is completed. Unless an agreernent is made in writing or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, I.ender shall not be required to pay Bonower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not econornically feasible or
<br />Lender's security wauld be lessened, the Miscellaneous Proceeds sha11 be applied to the sums secured by this Security
<br />Instrument, whether pr not then due, with the excess, if any, paid to Barrawer. Such Miscellaneous Proceeds shall
<br />be applied in the order provided for in Se�tion 2.
<br />In the event af 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 Instrument, 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 of 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 arnount
<br />of the sums secured by this Security Tnstrument irnmediaCely before the partial taking, destruction, or loss in value,
<br />unless Borrower and l.,ender otherwise agree in writing, the sums secured by this Security Instrurnent shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the tatal amount of the sums
<br />secured irnmediately befare 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 sh�ll be paid to Borrower.
<br />In the event af a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the surns
<br />secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneaus Proceeds shall be applied to the sums secured by this 5ecurity Instrument whether
<br />or not the surns aze then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrawer that the Opposing Party (as
<br />defined in the next sentence) offers to make an awazd to settle a claim for damages, Borrower fails to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrurnent, whether
<br />or not then due. "Opposing Party" means the third party that owes Borrawer Miscellaneous Proceeds or the party
<br />against whom Bonower has a right of action 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 forfeiture of the Property or other material impairment of I,ender's intexest in the Property
<br />or 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 L,ender's
<br />judgment, precludes forfeiture of the Property ar other rnaterial impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. The proceeds af any award or clairn for damages that are attributablc to the
<br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />1�. Borrower Not Releaged; F"orbearance By Lettder Nat a Waiver. �xtension of the time for payment ar
<br />modification af amortizatlon of the sums secured by this Security Instrument granted by I.ender to Borrower or any
<br />�. • (.� - � , ���
<br />N�BRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM IN57RUMEN7 DocMagic �va[1� soo-sas-r3s2
<br />Form 3Q28 1/01 Page 6 of 1 1 www.docmagic.com
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