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201a0933�
<br />Lender providing for such terminatiun or until terminatiun is reyuired hy Applicable Law. Nothing in this Section
<br />10 affects i3orrower's obli�ation to pay interest at the rate provided in the Nnte.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur
<br />if F3on•ower does not repay the l.oan as agreed. 13orrower is not a party to the Mortgagc Insurance.
<br />Mortgage insurers evaluate their tntal risk on all such insurance in forcc from time to time, and may enter into
<br />agreements with other parties that share or modify thcir risk, or reduce losses. These agreements are on terms and
<br />conditions that are satistactory to the mortgage insurer and the other party (or parties) to these agreements. 'i'hese
<br />agreements may require the mortgage insurer to make paymencs using any source of funds that the mortgage insurer
<br />may have available (which may include fimds obtained from Mortgage lnsurance premiums).
<br />As a result of thcse agreements, Lcnder, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, ur any affiliate of any of the foreguing, may receive (directly or indirectly) amounts that derive from (or might
<br />be characterized as) a portion of Borrower' s payments for Mort�age Insurance, in exchange for sharing 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 arrangement is often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will nut affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terros of the l.oan. Such agreements wiii not increase the amount Borrower will owe
<br />Tor Mortgage Insurance, and they will not entitle Borrower to any refunci.
<br />(b) Any such agreements will not aTfect the rights Borrower has - if any - with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right
<br />to recuive certain disclosures, to reyuest and ohtain cancellation of the Mortgage Insurance, to have thc
<br />Mortgage Insurance terminated automatically, ancllor to receive a refund of anv Mortga�e Insurance premiums
<br />thut were unexrned at the time oi such cuncellatinn or terminatiota.
<br />I 1. Assi�nment nf Miticellanenus !'rnceeds; Forfeiture. All Miscellaneous Procceds are hereby assigned to
<br />and shall be paid to Lender.
<br />Ifthe Vroperty is damaged, such Miscellaneous Proceeds shall be applicd to resroration or repair of the Pruperty,
<br />il'the restoration or repair is ecnnomically feasible and I�ender's security is' not lessened. Durin� such repair and
<br />restoratinn perind, L.ender shall have the right to hold such Miscellancuus Pruceeds until Lender has had an
<br />npportunity to inspect such Property ro ensurc the wurk has been completed f<� Lender' SHLItiPi1CYlOi1� prnvided that
<br />such inspec[inn shall he widertaken prnmpNy. Lender may pay fur the rep��irs and restoration in a single disbursement
<br />nr in a scrics of progress paynicnts ns [hc �vork is cumpleted. Unless an agreement is made in writing or Applicablc
<br />I.aw requires interes[ to be paid un su�h Miscelltineous Proceeds, Lender shall nnt be required m pay Ik�rrnwer any
<br />intere5t ur earnings un such Miscellaneuus F'rnceeds. If the restoration or rep�ir is not economically feasihle or
<br />Lender' s security would be lessened, the Miscel lanenus Procecds' shall be applied to the sunis securecl by this Security
<br />lnsfrumenf, whether or nut [hen due, �vith the excess, if any, paid tn Fiorro�ver. Such Misccllancuus Pruceeds shall
<br />be applied in the order provided liir in Section 2.
<br />In the event oCa total taking, destruction, nr loss in valuc of [he Proper[y, ihe Misecllaneous Proceeds shall be
<br />applied to the swns secured by this Security Insp'umcnt, whether or nut then due, �vith the excess, if any, paid to
<br />13orrnwer.
<br />In thc event of a partial taking, dcstruc[iun, ur luss in value uf lhe Property in �vhich the fair market value of
<br />the Prope�'ty iriimcdiaSCly beti�rc the partial takinr, destructinn, c�r loss in value is equal to nr greater than the amount
<br />nf thc sums sccured by this Sccurity Instrunicnt immediafely before the partial taking, destruction, or loss in valuc,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellaneous }'roceeds multiplied by [he following tl'action: (a) thc lutal amount uf the sums
<br />seciu ed immediately betine the par[ial takin�, destruction, or loss in value divided by (b) the fair market value of the
<br />Property immediately beCore the partial [aking, desn uction, or loss in valuc. Any balance shall be paid [o Borrower.
<br />In the event uf' a partial taking, des[ruc[inn, nr Inss in valuc of [hc Proper[y in w}�ich thc fair matket value uf
<br />Ihe Pruperty immediatcly bcfote Ihe partial takinK, destructinn, or loss in value is Icss than the amount of the sums
<br />secured immediately before the partial taking, destructinn, or loss in valuc, unlcss E3orrowcr and Lender utherwise
<br />agree in wriling, the Miscellaneuus Pruceeds shall be applied to the sums secured by this Security Insttument whether
<br />or not the sums arc thcn due.
<br />[f the Propa•ty is abancluned by Burruwer, or if, alter nntice by I.ender [n f3orrower tha[ the Opposing Party (as
<br />dcfined in the next sentence) offers tu make �m award to settle a claim fnr damages, I3orrower fails to respond to
<br />Lender within 30 days aRer the date the notice is �iven, 1_,ender is au[horized tu collect and apply the Miscellaneous
<br />Proceeds either tu restoration ur repair nf the Property or to The sums secured 6y this Secutity InsVument, whether
<br />or nnt then due. "Opposing Party" meana the third party that owes Borruwer Miscellaneuus Proceeds or the party
<br />a�ainst whom Borrower has a right nf actinn in regard to Misccllaneuus Proceeds.
<br />Borrnwer shall be in default if any action or proceeding, whether civil ur criminal, is begun that, in Lender's
<br />judgment, could result in forfeitw'e of the Property or other material impairment of Lender's interest in the Prnperty
<br />nr rights under this Secw ity Inshument. 13orrower can cure such a defaul[ and, if acceleration has nccurred, reinstate
<br />as provided in Sectinn 19, Uy causing thc action or pruceeding ro be dismissed with a ruling that, in I.ender's
<br />judgment, precludes frnfeiture of the Nroperty or other material impairment of Lender's interest in the I'rvperty or
<br />ri�hts under this 5ecurity Instrument. Thc pruceeds of any award or claim for damages that are attributable to the
<br />impairmcnt of I.ender's interest in the Pruperty are hereby assigned and shall bc paid to Lender.
<br />All Misccllancous Procecds [hat are nut applied tn restnratinn or repair of the Property shall be applicd in the
<br />ordcr pruvidcd for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Nnt a Waiver. Eixtension of thc timc for paymcnt or
<br />nioditication of amortization uf the sums secured by this Security Instrument granted Uy I.ender ro E3orrower or any
<br />NEBRASKA-•Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMEIVT tlocMagic�_�.V1� eoo-n4&asu2
<br />Form 3028 1/01 Page 6 of 11 www.docmagic.com
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