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201009310
<br />Lender providing for such ternunation 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 reimburses I..ender (ar any entity that purchases the Note) for certain losses it may incur
<br />if Borrower does not repay the I.oan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share ar rnodify their risk, or reduce losses. 7'hese agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreernents. These
<br />agreements may require the rnortgage insurer to make payments using any saurce of funds that the mortgage insurer
<br />may have available (which rnay include funds obtained from Mortgage Insurance prerniums).
<br />As a result of these agreements, Lender, any purchaser of the Npte, 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 Borrawer's payrnents for Mortgage Insurance, in exchange for sharing or modifying
<br />the rnortgage 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 af the premiums paid to the insurer, the arrangement is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amaunts 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 to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage
<br />Insurance under the Homeowners Pratection Act of 199$ or any other law. These rights may include the right
<br />to receive certain disclosures, to rec�uest and obtain cancellation of the Mortgage Insurance, to have the
<br />Mortgage Insurance terminated automatically, and/ar to receive a refund of any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellation or ternunation.
<br />11. Ass'tgnment of Miscellaneous Proceeds; ForPeiture. All Miscellaneous Proceeds are hereby assigned to
<br />and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneaus Proceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair is economically feasible and Lender'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 an
<br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection shall be undertaken promptly. I,ender 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 made in writing or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoratioii or repair is not economically feasible or
<br />Lender's security would be lessened, the Miscellan�ous 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 Praperty, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Tnstrument, 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 irnrnediately 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 imrnediately before the partial taking, destruction, or loss in value,
<br />unless Borrower and I,ender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amaunt of the sums
<br />secured immediately before the partial'taking, destruction, or loss in valuc divided by (b) the fair market value of the
<br />Property irnrnediately before the partial taking, destn.tction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destructian, or loss in value of the Property in which the fair maxket value of
<br />the Property irnrnediately 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 I.ender 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 />If the Property is abandoned by Borrower, 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 to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Froperty or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposing Party" means the third party that owes Barrower Miscellaneous Praceeds or the party
<br />against wharn Borrower has a right of action in regard to Miscellaneous Prpceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property
<br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in I,ender's
<br />judgrnent, precludes forfeiture of the Property or ocher material impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. Tfie proceeds of any award or claim for damages that are attributable to the
<br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneaus Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time fpr payment or
<br />modification of amq�ti�tion of the sums secured by this Security Tnstrurnent granted by Lender to Borrower or any
<br />NEBRASKA--Single Family--Fannie Mae/Fraddia Mac UNIFORM INSTRUMENT DOCIIN�gIC � 800-649-T362
<br />Form 3028 1/01 Page 6 pf 11 www.dacmagic.com
<br />r0l30z8.doc.wni
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