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<br />insurance and sorrower was reyuired ta make sepazately designated payments toward the premiums for Mvrtguge
<br />lnsurance, Borrower shall pay thc premiums required to obtain coverage substantially equivalent to the Mortgage
<br />lnsurance previously in effect, at a cost suhstantially equivalant to the cast to Horrnwer of the Mortgagc Insurance
<br />previously in affect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage
<br />Insurance coverage is not available, 13orrower shall continue to pay to Lender the amount of the separately designated
<br />payments that were due when the insurance coverage ceased to 6e in efFect. Lender will accept, use and retain these
<br />payments as a non-refundable loss reserve in lieu of Martgage Insurance. Such loss reserve shall be non-refundable,
<br />notwithscanding the f'act that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any
<br />interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance
<br />coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again
<br />becomes available, is obtained, and Lender raquiras separately designated payments toward the premiums For
<br />Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
<br />raquired to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay
<br />the premiums required to maintain Mortgage Insurance in effect, or to provida a non-refundable loss reserve, until
<br />Lander's requirement for Mprt�age Insurance ends in accordance with any written agreemant betwaen Borrower and
<br />Lender providing for such termination or until termination is required 6y Applicable Law. Nothing in this Section
<br />10 affects Borrower's obligation ta pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur
<br />if Borrower does not repay the Loan aa agreed. Borrower is not a parry to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in Porce frum time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduca lossas. Thasa 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 mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may hava available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, anothar 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 Mortgage Insurance, in exchange f'or aharing 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 of the premiums paid to the insurer, the arrangamant is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />lnsurancc, or any othew tewms of the Loan. Such agreements will not increase the amount 8orrower will owe
<br />for Mortgage Insurance, and they will not cntltle Borwpwer tp any refund.
<br />(b) Any such agreements will not atfect the rightu Borrowew has - if any - with respect to the Mortgage
<br />Insurance under the Homeuwnera Pwotectipn Act of 1998 or any other Iaw. These righta may include the right
<br />to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the
<br />Mortgage Insurance terminated autnmatically, and/or tn recelve a refund oi any Mortgage Inaurance premiums
<br />thet were unearned at the time of such cancellaHon or termination.
<br />11. Assignment pF Miscellaneous Proceeds; Forteiture, All Miscellaneous 1'roceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Property is dumaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Proparty,
<br />if the restoration ur repair is economically feasiblc and Lender's security is not lassaned. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds umil Lender has had an
<br />opportunity to inspect such Prvperty to ensure the wvrk has been completed to Lender's satisfaction, provided that
<br />such inspaction shall be undertaken promptly. L,ender may pay for the repairs and restor�tion in a single disbursement
<br />or in a scrics of progress payments as the work is completed. Unless an agreement is made in writing or Applicable
<br />Law requires intcrast ro be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellanaous Proceeds. If'tha rastoration or repair is not economically feasibla or
<br />Lender' s security would be lessened, the Miscellancous Proceeds shall be applied to the sums secured by this Securiry
<br />lnstrument, whether or not then due, with the excass, if any, paid to Sorrower. Such Miscellaneous Proceeds shall
<br />be applied in the ordcr provided for in Saction 2.
<br />In the event of a total kaking, destruction, or loss in valua of the Property, the Miscellaneous Proceeds shall be
<br />applied ro the sums secured by this Securiry Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrowcr.
<br />In the avent of a partial taking, destruction, or loss in value af the Property in which the fair market value of
<br />the Property immediately befnre the partial taking, destruction, �or loss in value is equal tp pr greater than the ampunt
<br />of the sums secured by this Security Instrument immediately befpre the partial taking, destruc�ion, pr loss in velue,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security lnstrument shall be reduced
<br />by tha amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums
<br />secured immediately befora tha partial taking, destruction, or loss in valua dividad by (b) the f'air market valua of the
<br />Properry immediataly bafore the partial taking, destruction, or loss in value. Any balance shall bc paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the ProperCy in which the fair market value of
<br />the Pruperty immediately before the partial taking, destruction, or loss in value is less than the amount of the sums
<br />secured immediately hefore the partial taking, destruction, or Ioss in value, unless 8orrower 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 sums are then due.
<br />Borrower Initials: F� ��
<br />NEBR4SKA--Single Family--Fannie Mae/Freddia Mac UNIFORM INSTRUMFIJ7 - MFRS pocMaylc�n�ttP� Boo•e�9�rsez
<br />Form 3028 1/01 Page 8 oi 11 www.docmegk.com
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