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201009333
<br />As a result ol� these agteeinents, I,ender, any purchaser of the Note, anothcr instiirer, any reinsuter,
<br />any other entily, or any aftiliate of any aF the fiire�oin�, ►nay receive (directly or indirectly) atnoi�nts that
<br />derive Irom (or might he characterized as) a pott.ion oP Borrower's paymenls lor Morl.eage Insur�nec, in
<br />excftan�� fi�r sharing or modifyine the mort�age intiur�r's risk, �rr ruducing lusses. If such agreeinent
<br />provides t.hul an afliliate of Lendcr takes a share r�f the insurer's tisk in exchange fi7r a�hare of the
<br />premiums puid to the insurcr, tlic arraneement is uften tenned "cuptive teinsurance." Further:
<br />(a) Any such abreements will not affcet the amo►�nts thrt Borrower has agreed to pay fnr
<br />Mortgage Tnsuranee, or any other terms �af the Loan. Such agreements will nnt increare the emount
<br />Borrower will owe fur Mortga�e Insurance, and they will not cntitic Sorrower to any ►re!'und.
<br />(b) Any such agrcements will not affect the rights Sorrower has - if any - with respect to the
<br />Mortga�;e Insuranee undcr thc �Iomeowners Prutection Act uf 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and nbtain cancellation of the
<br />Mortga�e Insuranec, to havc the Murtga�!e Insurance terminated autnmatically, and/or to re�eive a
<br />rcfund of any Mnrt�abe Insurancc premiums that werc uncarned at the timc of such canccllaHon or
<br />termination.
<br />ll. Assignment of Miscellaneou!� Prnceeds; Forfeiture. All Misccllancous Prnceeds are hereby
<br />assi�nea to and shull be paid to Lendcr.
<br />If the Property is damaged, such Miscelluneous Proceeds shall be applied to restoration or tepair of
<br />the Properiy, if lhe restoration or rcpair is econotnically f'easible and Let�c�er'ti tiecurity is not lesscned.
<br />During such tepair and testoratinn period, Lendcr shall have the right to hold such Miscellancous 1'rncceds
<br />until Lender has had an oppnriunity to inspect �uch Property to ensure the work has been completed to
<br />Lendet'S salislaction, provided that such inspecticro shall be undettuken promptly. Lender may pay for the
<br />repair� and restoration in a single disbur�ement pr in a tieties of progres� payrnent� as ihe work is
<br />completed_ iJqless atz agreement is inade in writing or Applicablc Law requires interest to be paid on such
<br />Miscellanenus Proceedti, Lendet shall not be required to pay Borrowcr any interest or earnines on such
<br />Miscellaneous Proceeds. If thc restoration or repair in not economically feasible ot Lender's security would
<br />he lessened, lhe Miscellancous Proceed� tihall be applied 1.o ihe sums secured hy this Securiiy Intittutr�ent,
<br />whcther or nut then dtre, with the excesti, if any, paid to .Qorrower. Such Misccllaneous Procccds shall be
<br />aprlied in the order ptovided tor in Section 2_
<br />In the event oF a total taking, dcstructinn, or Ioss .in value of fhe Property, the Misccllaneous
<br />Proceeds shall he applied to the sums secured by this 5ccurity Instnxrnent, wheth�r or not fhen duc, with
<br />fhe excess, if any, paid fo B�rrower.
<br />In the evcnt nf a pariial taking, destruction, or loss in valtiic of the Property in which the fair inarket
<br />value of the Property immediately before thc partial takiug, destruction, or loss in valuc is cqual to or
<br />grealer than the amount of the sums secured hy this Seci�rity Innttument immediately befi7re the partial
<br />taking, destniction, or loss in value, unles5 Bottower and Lender otherwise agree in writing, the sums
<br />securcd by this Security Intitrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the 1'ollowing f'ractinn� (a) thc total amount of the sums yecured immediately b�forc thc
<br />partial taking, destruction, or loss in value divided by (b) ihe fuir market value oF the �'rnperty
<br />immediately before the partial taking, destruction, or loss in value. Any bulance shall be paid to Borrower.
<br />In the event of a pariiul Laking, destruction, or loss in value of the Property in which thc fair market
<br />valtxe of the Property im�nediatcly hefiire the partial iaking, de5truction, ot loss in value is less than the
<br />am��unt oP the sums secured immediately hefi�re the patiial laking, de�truciivn, or lotis in value, unl�:tis
<br />$orrower and Cender ��therwine ugree in writing, the Mi�eellaneous Procceds shall be applicd to the sums
<br />securcd by thiti Security Tn.ttumenl whether or not the suins are thcn duc_
<br />Tf the Property is abandoned by Borrower, or if; after notice hy Lcnder to T3��rrnwer that the
<br />Upposing Party (as definecl in ihe next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to L,cnder within 30 days afler the dute ihe noiice is given, Lender is authorized
<br />to collect and apply the Misecllar►eous Proceeds eiiher to re�toration or repair oI� the Propetly ot to the
<br />su�tas secured by this 5ecutily Instru�nent, whcthcr or raot t}�en due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Procceds or the pariy again�t whom Borrower has a right af action in
<br />regard to Miscellancous Procccdti.
<br />I3orrower shall be in deluult if any action or proceeding, whcther civil ��r critninal, is bcgun that, in
<br />Len�ler'ti jud�menl, could result in forfeiture of the Pr��perty or other mattrial impairment nf Lcndcr's
<br />interest in the Property or r;ghis under this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA- Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />�-6(NE)(os��� Page9of15 �nitia��_� Form3028 1/01
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