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RE�REC�RD�D
<br />201009363� 201005171
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of 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 modifying the mortgage insurer's risk, or reducing losses, If such agreement
<br />provides that an affiliate 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 agreemen#s will not affect the amounts that Borrawer has agrced to pay for
<br />Mortgage Insurance, or any other terms af the I.aan. Such agreements wi11 not increase the amount
<br />Sorrower will owe for Martgage Insurance and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not aft�ect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 199$ or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refand of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignrnent of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Froceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneaus Procceds shall be applied to r�storation ar repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's securicy is not lessened.
<br />During such repair and restoration period, Lender sha11 have the right to hold such Miscellaneous Proceecls
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />I,ender's satisfaction, provided that such inspection shall be undertaken prornptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />cpmpleted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender 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 Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrawer. Such Miscellaneous Frocceds sha�l be
<br />applied in che order provided for in Section 2.
<br />In the event of a tatal taking, destruction, or loss in value af the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security In�str�unent, whether or nnt then due, with
<br />the excess, 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 rnarket
<br />value af the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in valu�, unless Borrower and Lender otherwise agre:e in writing, the stwns
<br />se�ured by this Security Instrurnent shall be reduce� by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total arnount of the sums secured irnrnediately before the
<br />partial taking, destruction, or lass in value divided by (b) the fair market value of the Property
<br />imrnediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the PropeRy in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured irnmediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and I,ender otherwise agree in writing, the Miscellaneous Proc�eeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after natice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to I.ender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instnunent, whether or not then due. "Opposing Party" maans the third party
<br />that awes Borrower Miscellaneous Proceeds or the party against whorn Borrower has a z�ght of action in
<br />regard ta Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or procee�ing, whether civil or crirninal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Prope�ty or other material irnpairment of Lender's
<br />interest in the Property or rights under this Security Instrucnent. Borrower r.an cure such a default and, if
<br />NEBRASKA - 5ingle Family - Fannie Mne/Freddie Mac UNIFORM INSTRUMENT
<br />�-6�NE) �08>>1 Page 9 of 15 Initials: FOrm 3U2$ 7/01
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