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20100938i
<br />As a result of these agreements, I.ender, any purchaser of the Nate, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or indir�ctly) amounts that
<br />derive from (or rnight be characterized as) a portion of Borrower's payxnents for Mortgage Insuranc�, in
<br />exchange for skiaxing 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 agreements will not affect the amounts that Barrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not endtle Sorrower to any refund.
<br />(b) Any such agreements will not affeM the r►ghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These nights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Tnsurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancelladon or
<br />tCC11'11I1at1AI1.
<br />11. Assignment of Miscellaneous Praceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to L.ender.
<br />If the Property is damaged, such Miscellaneous Pcoceeds shall be appliad to restorativn ox �air of
<br />the Property, if the restoration or repair is economically feasible and Lender's s�curity is not les�.
<br />During such repair and restaration period, L.ender shall have the right to hold such Miscellaaie�us Proc�ds
<br />until Lender has had an oppartuniCy to inspect such Property to ensure the wor�C has beez� cornpleted to
<br />Lender's satisfaction, provided that such inspection sha11 be undertaken promptly. Lender rnay pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. 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 Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or I.ender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the swn�s secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provide�i for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not 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 Praperiy in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the arnount of the swxLS secured by this Security Instnunent irnrnediately 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 Instrument shall be reduced by the amount of the Miscellaneflus Proceeds
<br />multiplied by the following fractian: (a) the total amount of the swns se�ure� immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />irnx�nediately 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 af the Praperty in which the fair u�arket
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less ti�an the
<br />amount of the sums secured imrnediately before the partial taking, destruction, or loss in value, unless
<br />Barrower and I.er►der atherwise agree in writing, the Miscellaneous Proceeds shall be applie� to t�:e swns
<br />secured by this Security InstnunenC whether or not the sums are then due.
<br />Tf the Property is abandoned by Borrawer, or if, after notice by Lender Co Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award Co settle a claim for dannages,
<br />Borrower fails to respond to I.,ender withiz� 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 />surns secured by this Security Instrument, whether or not then due. "Opposing Pariy" means the third party
<br />that owes Borrawer Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneaus Proceeds.
<br />Borrower shall be in default if any action or procee�ling, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or ather material impairment af Lender's
<br />interest in the Property or rights under this Security lnstrument. Borrower can cure such a default and, if
<br />NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mac UNIFQRM INSTRUMENT
<br />�-6�NE) loat t1 Page 9 of 15 i��t�ais• Form 3028 1/01
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