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201�0933
<br />As a result of these agreements, L.ender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any af�liate of any af the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or rnodifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an af�liate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Xnsurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Ynsurance, and they will not entitle Barrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Martgage Tnsurance ander the Hameowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosares, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated autamatically, and/or ta receive a
<br />refund of any Mortgage Insarance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneaus Proceeds; Forfeiture. All Miscella�aus Procceds are hereby
<br />assigned to and shall be paid to L.ender.
<br />If the Property is damaged, such Miscellaneous Proce�ds shall be a}�plied to restoratian or repair of
<br />the Praperty, if the restoration or repair is economically feasible and L.ender's security is not lcssen�.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lendet has had an opportunity to inspect such Property to ensure the wark has been completed to
<br />Lendex's satisfaction, provided that such inspection shall be undertaken promptly. L�nder may pay for the
<br />z'epairs and restoration in a single disbursement or in a series of progress payments as tJte work is
<br />cornpleted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, T,ender shall not be required to pay $orrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Praceeds shall be applied to the sums secured by this Security Instrurnent,
<br />whether or not then due, with the excess, if any, paid to Borrawer. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value af the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Secu�ty Tnstnunent, whether ar not then due, with
<br />tt1E ERC�SS 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 imrnediately before the partial taking, destructian, or loss in value is equal to or
<br />greater than the amount of the surns secured by this Security Instrument unmediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instnunent sha11 be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount af the sums secured irnrnediately befoxe the
<br />partia] taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the faix m�arlcet
<br />value of the Froperty immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately b�fore the partial taking, destruction, or loss in value, unless
<br />Borrower and L.ender otherwise agree in writing, the Miscellaneaus PracEeds shall be applied to the swns
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Properiy is abandotaed by Barrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) affers ta make an award to settle a claim far damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneaus Proceeds either to restoration or repair of the Property or to the
<br />surns secure�l by this Security Instrument, whether or not then due. "Opposi:ng Party" means the third party
<br />that owes Borrawer Miscellaneous Proceeds or the party against wham Borrower has a right of action in
<br />regard to Miscellaneous Procceds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other rnaterial impairment of Lender's
<br />interest in the Property or rights under this Security Tnstrument. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie Mae/Preddie Mac UNIFQRM INSTRUMENI"
<br />�-B(NE) lost t1 page 9 of 15 Initials: F4rrtt $028 1/01
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