|
201oo9o�s
<br />A,s a re�ilt of these ag�ts. L�dcr anY pat�chgser of the Note, anoth�r i�, any reinsurer,
<br />any other e�tity. or any afFiliate of any of thc foregoing, may receivc (directly or indirectl,y) amaunts that
<br />derive firom (or might be c�rized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the m�rtgage insurer's risk, or reducing lasses If such aSrcement
<br />pxovides that an affiliate of I.endex takBS a ahare of tbe inswr�r's riak in cxchange for a share af the
<br />premiums paid W the insurer, the axran8ement is oRca tern�ed "captive reinsurauce." Further:
<br />(a) My such ag�reeme�nt� wlll �n� atYect the nmounts that Horrower has agreed to pay� for
<br />Mortpge In�ura�qoe, or uny other terms of the Loan. Snch ag�aneats will n�ot incre�ee the amount
<br />Borrnwer will owe for Murtpge Ins�u� sud � not e�title Bon�ovre� ta a� re�pmd.
<br />ro) Any �h a�e�mts .viu ,bot ect rhe sorrowar has - if any - Wtth rr�pect to t�►e
<br />Mortgage �nsuranoe und� the Homeowners Px+otedton A�ct of 1998 or any othar law. TLe�e rights
<br />may inclndc tb,e rlg�t to reo�ve oe�tain �do�, to reclue�t aud o�tain canaellatian of the
<br />Mortgage Insuranoe, to have dte Mortgage In�uranwe te�miaate� sutamatically, and/oar to reoeive a
<br />refond o� any Mortgage Insiauanae premiums t1�at were unarned at the time of such canoellation or
<br />tf'I'�d011.
<br />11. A�igame�t ot Mi�lJsmeou� Prooee�s; For[dtnre. All Misccllaneoua Ptsoceeds are b.ereby
<br />assigned to and shall be�to I.ender.
<br />Tf the Property is ed, sucb Miscellaneuus Proceeds s1�all be applied Ln restoratiox� or repair af
<br />the Properiy, if the rastoration or repair is aonomically feasible a�d Lender's security is not l�sened.
<br />Duti,ng suic� repain and restoratioa period, Len�r shall have the right to hold s�h MisceUaneous Pracceds
<br />until I.ender has had an apportunity to inspec� sucla Praperty to e�uc�e the �work has been campleted to
<br />Len�der's satisfaction. provided tbat sucb inspec�ion s�hall be �n promptly. �der may pay for thc
<br />repairs ar�d restoration in a aingle disbursem� or iuu a scrie� of progress payments as the work is
<br />completed. Unlcss an agr�t is made in writing or Applicalal� L.aw requi,� int�rest to be paid on such
<br />Misccl,laneoua Proceeds, Le�d�r shall not be req�ured to pay Barmwcr any interest or earninga on such
<br />Miscellaneous Proca�ds. If the r�toration ar repair is not economically feasible or I.�nder's security wauld
<br />be lessened, the Miac�llaneous Praceeds shall be applied to the sums secvred by this Security Instrunnent,
<br />whethar or not t&en due, with the ex�ces�e, if any, Paid to Borrower. S�tch Miscellaneous Praceeds shall be
<br />applied in the ordcr provid� for in S�ction 2.
<br />In the eve�t of a total tala�g. dcstcuctton, ar l�s in value of the Property, the Miscellaneous
<br />Proce�ds ahall be applied to the sunas sccured by this Security Ins�r►ument, wh�her ar not then due, with
<br />the cxcess, if arry. Paid to Borrnvver.
<br />Itx thc� evea►t of a partisl talcin$. do�trucxit�, or loss in valuc of the Property in which the faiur market
<br />value of the Propexty im�ediatsly before th� partial taldug� destnu�ion, or loss in value is aqual to or
<br />g�ter than the aawunt of t� sur�s secured by this Security Instiumdnt i�iately before the pa�ial
<br />taking, destruction. or lass in value, timlass Borrower and I.ender otlu�rwise agree in writing, tlxe sums
<br />secured by this Security Inst�vment sha�ll be reduc�d by the amouat of the Miscellaneous Proceacis
<br />multiplied by the follawing fra�on: (a) the wtal amaunt of the sums secured immediately befvre the
<br />partial takin$, deawdian, or loss in value divide� by (b) the fair m�arkst value of the Property
<br />immediately befone the partial taking. d�ion, or loss in values. Any baLance sball be �aid ta Borrowear.
<br />In the event of a partial taking, de�uuctioaa, ar loss in value of the Property in which the faiar mark;et
<br />value of tbe P�+operty im�adiately before the partial taking, destruction� or loss in valuB is le�s Cban the
<br />amaunt of the aums sec�ured imnaediately before the pardal taking, d�tio4 or loss in valuie, unless
<br />Borrower aand L�ende� otherwise agree in writing, the Miscedlaneous Pmcee� sha�ll be applied to the sutn�
<br />secured by this Sacurlty Instnmrneent whether ar mot the sumw are then due.
<br />If tl� Praperty i�s abandoned by Borrower, ar if, after notice by l.ender W Horrower that the
<br />OPPd$�8 �Y �� defir�ed in the n�t sente�nce) offera to mabe an award ta s�tle a claim for daznages,
<br />Borrower fa�ls to respond ta L,endear within 3A days after the date the noti� is given, I.ender is authorized
<br />to colled a�d apply the Misoellar�eous �mceeds either to restaration or nopair of the Property ar to thc
<br />sums secured by this Security In�nt, whether or not t�en due. "OpPosing PartY" me�ns the third Part�'
<br />that owes Honmwer Mi�ceJlaneous Proceeds or tbe party against whom Horrower has a right of ac�ian in
<br />regard ta Miscella�eous Proce�s.
<br />Bormwer ahall be in default if any sctirna ar proveeding, wh�hcr ci�vil or cr'u�na�l, is begun tt�at, in
<br />L,ender's jud�t, aould �esult in forfeiture. of tbe Pruperty or other material impair�nent of L�nder's
<br />interost in the Property or rig,hts under this Security Instrumeat. Horrowear can cures such a default and, if
<br />NEBRASKA - Single Famlly - Fanrdr MM/Fr�ddi� Mao UNIFORM INSTRUMEHT
<br />�-BINE) roei n raw a m» iMUer: Form 3028 1/07
<br />
|