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<br />Lender 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 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 Laan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their tatal risk on all such insurance in fprce from time to tinne, and may enter inta
<br />agreements with other parties that shaxe or modify their risk, or reduce losses. 'I'hese agreements are on tern�s and
<br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements, These
<br />agreernents rnay require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained frvm Mortgage Insurance premiums).
<br />As a result of these agreements, I,ender, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might
<br />be characterized as) a portion of Borrower's payments for Martgage Insuxance, in exchange for sharing or madifying
<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 of the prerniums pai.d to the insurer, the arrangement is often termed
<br />"captive reinsurance." Furtber:
<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. Such agreements will not increase the amount Borrower will owe
<br />for Mortgage Insurance, and they will not entitle Borrower ta any refund,
<br />(b) Any snch agreements will not afPect the rights Borrower has - if any - with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act af 1998 or any other law. These rights may include the right
<br />to receive certain disclosures, to request and pbtain cancellation oP the Mortgage Insurance, to have the
<br />Mortga$e Ynsurance terminated a�ttomatically, and/or to receive a refund of any Mortgage Insuurance premiums
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Froperty is damaged, such Miscellaneous Prpceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair is econornically feasible and I,ender's security is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had aia
<br />opportunity to inspect such Praperty to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement
<br />or in a series of progress payments as the work is completed. Unless an agreement is ma,de in writing or Applicable
<br />I,aw requires interest to be paid on such Miscellaneous Proceeds, T..ender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically 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 not 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 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 amount
<br />of the sums secured by this Security Instrument immediately before the partial Caking, destruction, or loss in value,
<br />unless Barrawer and I.,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 follawing fractian: (a) the tatal 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 b�lance shall be paid ta Borrower.
<br />In the event of a partial taking, destzuction, or loss in value of the Praperty in which the fair market value of
<br />the Property imrnediately before the partial taking, destruction, or loss in value is less than 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 $orrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond Co
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellan�ous
<br />Proceeds either to restoraCion or repair of the Property or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" rneans the third party that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Borrower has a right of action in regazd to Miscellaneous Proceeds.
<br />Borrower shall be in defaulC if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Pxoperty or other material impairment of Lender's interest in the Property
<br />or rights under this Security Instrument. $orrower can cure such a default and, if acceleratian has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be disnlissed with a ruling that, in Lender's
<br />judgment, precludes forfeiture of the Property or other material impairment of L.ender's interest in the Property or
<br />rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairment of Lender's interest in the Prpperty are hereby assigned and shall be paid to L,ender.
<br />All Miscellaneons Aroceeds that are nqt applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />12. Sorrower Not Relea�ed; Forbearance Sy Lender Not a Waiver. Extension of ihe time for payment or
<br />modification of amortization of the sunns secured by this Security Instrument granted by L.ender to Borrower or any
<br />.���
<br />NEBRASKA--Single Family--Fannie
<br />�orm 3028 1 /01
<br />Ne3628.dot.xml
<br />Mac UNIFORM INS UMENT
<br />Page 6 of 1 1
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