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201009198
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any af�liate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Martgage Insurance, in
<br />exchange for sharing or rnodifying th� mortgage insurer's risk, or reducing losses. If such agreernent
<br />provides that an affiliate of T.,ender takes a share of the insurer's risk in exchange far a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any sach agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreenn�ents will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and the� wi11 not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the r�ghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeawners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund af any Mortgage Insarance premiums that were unearned at the time af such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is econornically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, L.ender shall have the right to hold such Miscellaneous Proceeds
<br />until L.ender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />I,ender's satisfaction, provided that such inspection shall be undertaken pramptly, I.ender nnay pay for the
<br />repairs and restoration in a single disbursement or in a s�ries of progress payments as the work is
<br />cornpleted. Unless an agreement is nnade in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, L.ender shall not be required to pay Borrower any interest or earn.ings on such
<br />Miscellaneous Proceeds. If the restoratian or repair is not economically feasible or Lender's security wauld
<br />be lessened, the Miscellaneaus Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a Cotal taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not thex► due, with
<br />the excess, if any, paid to Borrower,
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the arnount of the surns secured by this S�curity Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and L.ender otherwise agree in writing, the sums
<br />secured by this Security Instrurnent shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction; (a) the tata.l amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />irnmediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property irnmediately before the partial taking, destzvction, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be appliad to the sums
<br />secured by this Security Instrument whether or not the sums ar� then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower Chat the
<br />Opposing Party (as de�ned in the next sentence) offers to make an awaxd to sectle a claim for damages,
<br />Borrower fails to respond to L.ender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrowex has a right of action in
<br />regard to Miscellaneous Prnceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or crirninal, is begun that, in
<br />I,ender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannia Mae/Freddie Mac UNIFORM INSTRUMENT
<br />�-6�NE) �oa i i � Paae s of i 5 Initials: Form 3028 9/09
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