|
2 oiao9z9;
<br />(a) Any such agreementx will not afl'ect the amounts thaC 13orrowcr h,i� a�rced to puy for Mortgage Insurance, or any
<br />other term� of the Laan. Such agrecments will nnt iacrease the ,�mount 13orrow��c• rr ill owe for Mortgage Insurance, and they
<br />will not entide Borrower tp any refund.
<br />(b) Any such agreements will not �tfect thc rights Borruwcr hus - if any - with respcct tu the Mortgage Insurance under
<br />the Homeowners Protection Act of 1998 ar any other luw. Thesc ri�;hts ,nuy inclu�le thc ribht to receive certain disclosures,
<br />to reguest and obtain cancellation of the Mnrtgagc Tnsurancc, to ha�c ihc Mori�;agc Iasurancc terminated automatically,
<br />and/or to receive a refund of any Mortgage lnsurance premium5 th,�l „crc un��arned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneons Proceeds; Forfeiture. All Miscell�ii�coi.is Yrocccds t�re hcreby assigned to and shall be
<br />paid to Lender.
<br />If the Property is damaged, such Misce:llaneous Proceeds sh��ll bc ��p�:�licr.; in rc;tor��tion or repair of the Property, ifthe
<br />restoration or repair is economically feasiblc and Lendcr's securiiy is not lessened. 1)�.u�ing such repair and restoration period,
<br />Lender shall have the right to hold such Miscell�meoiis Procec;ds iintil I,cn�lcr h;�; h,ad an oppartunity to inspect sueh
<br />Property to ensure the work has been completed to Lendcr's satisfactiori, pro� idcd th,:�t such inspectian shall be undertaken
<br />prompfly, Lender may pay for the repairs and restoratio�i in �� single c,lishi.irsciuciat or in � series of progress paymenis as the
<br />work is completed. Unless an agreement 'rs made in writing c�r np�7lic�ablc l,a�v requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall n�t be required to pay 13orrowcr ,in�- iiitcrest or earnings vn such Miscellaneous
<br />Procceds. If the restoration or repair is not c:conornically feas'rble �r Lender's scci.�rit} ��ould be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by llus Scciu'ity ltistr�u�ient, �vlictl�cr c�r iiol Uicn due, with the excess, ifany,
<br />paid to Borrower, Such Miscellaneous Proceeds shall bc appli�d iri ihe order pro� ided 1'or in Section 2,
<br />In the event of a total taking, destruction, or loss in v��luc c�l'tYic f'ro}7erty. tl�c Nliscellaneous proceeds shall be applied to
<br />the sums secured by this Security Instrwnent, �vhethCr c�r uot thcn d�ie, �vith thc �.�cess, if tti�y, paid to Borrower.
<br />In the event of a partial taking, destnxction, or loss in valuc af the Propert�� u� �vliich the fairmarket value of the Property
<br />immediately before the parlial taking, destr��ccrori, c��• loss iii valuc is equ�il tc.; cir i�rcater tt�an ltic a�nauni of the swns secured
<br />by this Security Instrurnent immediately before the partial taking, dcstruction. or loss in valuc, unless Borrower and Lender
<br />otherwise agree in writin�, the sums secured by tllis Seci.u�ity Instrt.uneiil sli�ill i�., .c�iuceci by the arnnunt of the Miscellaneous
<br />Proceeds mWtiplied by the fnllowing fractiori: (a) the toial amount of tl�c s�uii� ;cci.�rcd i�nrnediately before the partial taking,
<br />destruction, or loss in value divided by (b) the f�.�ir rn��rket v��l�ic of� thc i�r���:�cny iiiunediately before the partial taking,
<br />destruction, or loss in value. Any balance s11a11 be paid to Borrowcr.
<br />In the event of a partial taking, destruction, or lnss in valuc of ihe I'ropert� in �vhicl� tl�c fair market value of the Proparty
<br />immediately before the partial taking, destruction, or loss in value is less tlian tl�e amomit nf lhe sums secured immediately
<br />before the partial taking, desWciion, or loss in value, unless t3c�rroti�cr ;�nc:i l,ender otherwiss agree in writing, the
<br />Miscellaneous Proceeds sha11 be applied ta thc s�ucis securcd by this Securit� Iristrurnerit whether or not the sums arc then
<br />due.
<br />If the Property is abandoned by �orrower, or if, aft�r noticc by l.,caider to 13on•o�vcr tht�l the Opposing Party (as defined in
<br />the next sentence) offers to make an award to settle �i claim for darn�.t�;es, 13c�n�oti� cr fails to respond to Lender within 30 days
<br />after the date the notice is giver� Lender is auihorired to collect and �ippl�� tiic Misccll�ineoi.is Proceeds either to restoration or
<br />repair of the Property or to the sums securcd by this Secur'riy Instrumer�t, ��licllicr or not then due. "Opposing Party" means
<br />the third party that owes Borrower Miscellancous Procceds or ihe }�art} ���,��irisi �vliorri 13orro��er has a rigYit of action in regard
<br />to Miscellaraeous proceeds.
<br />Borrower shall be in default if any action or procCCding, whetlic;r civil or crirnin��l, is bc:gun that, in Lender's judgment,
<br />could resWt in forfeiture af the Property or other materia] inlpaimicnt ol" I,endcr's inicresi in the Praperty or rights under this
<br />Security Instrument, Borrower can cure such a default �uYCi, if acccleration l�is occurred, rcinstate as provided in Section 19, by
<br />causing the action or proceeding to be dismissed \vl(Il �1 I'11I111� t�lclt, ]ll L aldcr', jud�;rr�ent, precludes forfeiture of the Property
<br />or other material impaurnent of Lender's interest in thc Property ar ri�;hts urider tliis Security Instrument. The proceeds of any
<br />award ar claim for damages that are atkributablc to the impairment of I.cnder's intcrest i�i the T'roperty are hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Prc�ceeds that are not applicd tc> re;stUratiori or rep��ir ot' tlic Property shall be applied in the order
<br />provided far in Section 2.
<br />NEBRASKA - Single Family - Funnie MadPreddie Mac UNIFORM INSTRUMENT / ��r ' ��/`
<br />��6(NE) (��il �'�y� �u • ✓' - Form 8DY8 7/07
<br />IJP3-N�9
<br />III� II�I NIN I�II IINI� I�� NI� IIN �II� �INI �IN IIIII IIIII IIII Nil
<br />OOOONE966H�6fi
<br />
|