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201Q0935�
<br />Mortgage Cnsurancc reimburses Lender (or any entity that purchases the Note) for certain Insses it rnay incur if Borrower does not
<br />repay the Lnan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage lnsurers evaluate their tatal risk on all such insurance in force from time to time, and may enter into a�reements with
<br />other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the
<br />mortgage insurer and the other party (or parties) ta these agreements. These agreements may require the mortgage insurer to make payments
<br />using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Tnsurance
<br />premiums).
<br />As a result of these agreements, Lender, any purchaser of the note, another insurer, any reinsurer, any other entity, or affiliate of
<br />any of the foregoing, may receive (directly or indirectly) amounts that derive from (or rnight be characterized as) a portion of Bormwer's
<br />payments for Mortgage insurancc, in exchange for sharing nr modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provided fhat an affiliate af Lender takes a share of the insurer's risk in exchange for a share of the prcmiums paid to the insurer, the
<br />arrangement is often termed "captive reinsurance" Further:
<br />(a) Any such agreements will not affett the amounts that Barrower has agreed to pay for Mortgage Insurance, or any othcr
<br />terms of the Loan. Such agreements will not increase the amount �3orr�wer will owe for Mortgage insurance, and they will not
<br />entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights $orrower has — if any — with respect to the Mortgage Insurance under
<br />the i�oroeowners Protection Aet of 1998 or any other l�w. 'I"hese rights may includc the right to receive eertain disclosures, to
<br />request and obtain cancellation of the Mortgage Insurance, to have the Mortgage insurance terminated automatically, and/or to
<br />receive a refund of any Mortgage Insuranee premiums that were unearnecl at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Fnrfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to
<br />Lender.
<br />Tfthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair nf the Property, ifthe restoration
<br />ar repair is economically feasible and Lender's security is not lessened. Durin� such repair and restoration (�eriod, Lender shall have the
<br />right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect strch Property to ensure the work has beett
<br />completed to Lender's satisfaction, providecl that such inspectian shall be undertaken promptly. Lender may pay for the repairs and
<br />restoratinn in a single disbursemettt or in a series of pro�ress payments as thc work is completed. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid nn such Miscellaneous Proceeds, Lender shal) not be required to pay Borrower any interest or
<br />earnings on such Miscellaneous Proceeds. if the restoration or repair is noc economically feasible or Lender's security would be lessened,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument, whether or not then due, with the exce5s, if
<br />any, paid to Borrower. Such Miscellaneous Proceeds shall be, applied in the order provided for in Section 2.
<br />in the event of a total takin�, destruction, or loss in value ofthe Property, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Tnstrurnent, whether or not then due, with the excess, if any, paid to Borrower.
<br />in the event of a partial taking, destnaction, or loss in value of the Property in which the fair market value of the Pr�perty
<br />immediately hefore the partial taking, destruction, or loss in value is equal to or greater than the amount of the surns secured by this Security
<br />instrument immediately before the partial taking, destruction, or loss in value, unless Barrower and Lender otherwise agree in writing, the
<br />sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the tatal amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair
<br />market value of the Property immediately before the partial takin�, 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 Property in which the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial
<br />taking, destruction, or loss in value, unless f3orrower and Lender otherwise agree in writing, the Miscellaneaus Proceeds shall be applied to
<br />the sums secured hy this Security Instrument whether or not tha sums are then due.
<br />if the Property is abandoned by Borrawer, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next
<br />sentence) offers to rnake an award to settle a claim for damages, Borrower fails to respond to Lender wichin 30 days after the date the notice
<br />is given, L�nder is authnrized to collect and apply the Miscellaneous Proceeds either to restoration or repair of fhe Property or to the sums
<br />secured by this Security instrument, whether or not then due. "Opposing Party" means the third parry that owes Borrower Miscellaneous
<br />Proceeds or che party against whom Borrower has a right of actian in regard to Miscellaneous Proceeds.
<br />Borrower shall ba in default if any actian or proceedin�, whether civil or criminal, is begun that, in Lender's judgment, could result
<br />in forfeiture of the Property or other material impairment nf Lender's interest in the Property or rights under this Security instrument.
<br />Borrower can cure such a default and, if acceleration has occurred, reinstate as (�rnvided in Section 19, by causing the action or proceeding
<br />to be dismissed wich a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
<br />impair-ment nf Lender's interest in the Property are hereby assi�ned and shall he paid to Lender.
<br />All Miscel laneous Proceeds that are not applied to restoration or repair of the Property shall be a(�plied in the order provided for itt
<br />Section 2.
<br />l2. Borrower Not Released; Forbearance Ry Lender Not a Waiver. Extension of the time for payment or modification of
<br />amortization of the sums secured by this Security Instrument granted by Lender to I3orrower or atty Successor in interest of Borrawer shall
<br />not operate to release the liability of Rorrower or any 5uccessors in lnterest of Borrower. I,ender shall not be required to cornmence
<br />proceedin�;s a�;ainst any Successor in interest of Borrower or to refi�sc to extend time fnr payment ar otherwise madify amortization of the
<br />sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of
<br />Borrower. Any forbearance by Lender in exercising any right or rcrnedy including, without limitation, Lender's acceptance of payments
<br />from third persons, entities or 5uccessors in Interest of �orr�wer or in amounts less than the amount then due, shall not be a waiver of or
<br />preclude the exercise nf any right or remedy.
<br />13. Joint and Several Liabilyty; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's
<br />ohligations and liability shall be joint and several. Hawever, any Borrower who co-si�;ns this Security instrument 6ut does not execute the
<br />Note (a "co-signer"): (a) is ca-si�ning this Security Inskrument only to mortgage, grant and convey the co-signer's interest in the Properiy
<br />under the terms of this Security instrument; (b) is not personally obli�ated to pay the sums secured by this Security Instrument; and (c)
<br />agrees thac Lender and any other Borrower can a�ree to extend, modify, forbear or make any accommodations with re�ard to the terms of
<br />this Security Instrurnent ar the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successar in Interest of Borrower who assumes Rorrower's obligatinns under this
<br />Security instrument in writing, and is approved by Lender, shal I obtain all of Borrower's rights and benefits under this Security Instrument.
<br />Borrower shall not be released from I3orrower's obligations and liability under this Security instrument unless Lender agrees to such release
<br />in writing. The covenants and a�reements of this Security Instrument shall bind (except as providcd in Section 20) and benefit the
<br />successors and assigns of Lendet.
<br />NEBRASFCA -Single Family-Fannie Mae/Freddie Mac UNIFpRM INSTRUM�N7 wlth MERS Fnrm 3028 1/01
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<br />i�s, inc. Borrower(s) Initials
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