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<br />1111056644
<br />again becomes available, is obtained, and Lender requires separately desi�nated payments taward the premiums for Martgage
<br />Insurance. If Lender required Mortga�e insurance as a condition of making the Loan and Borrower was required to make
<br />separately designated payments toward the premiums for Mortgage insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage lnsurance in effect, or to provide a non-refundable loss rescrve, until Lender's rcquirement far Mprtgage
<br />Insurance ends in accordance wiih any written agreement between Borrower and Lendar providing for such tcrmination or until
<br />terminatian is required hy Applicable Law. Nothing in this Section 1Q aff'ects Borrower's ohligation to pay interest at the rate
<br />provided in tha Note.
<br />Mortgaga Insurance reimburses Lender (or any �ntity that purchases the Nate) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed. Borrower is npt a party ta the Mprtga�e Insurance.
<br />Mortga�e insurers evaluate their total risk on all such insuranca in fnrce from time to time, and may cnter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions
<br />that are satisfactory to the mortgage insurer and the other party (or parti�s) to thes� agreements. These agrecments may require
<br />thc mortgagc insurer to make paymcnts using any source of funds that the mortgage insurer may have available (which may
<br />inelud� funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or
<br />any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive fram (or might be characierired
<br />as) a portion of Borrower's payments far Mart�a�e Insurance, in exchange for sharing or modifying the mortgage insurer's risk,
<br />or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a
<br />sharc of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,
<br />or any other terms of the [.oan. Such agreements wfll not increase the amount Borrawer will owe for Mortgage
<br />lnsurance, and they will not entitle Borrawer to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage
<br />Insuranee under the Homeowners Prote¢tion Act of 1998 or any other law. These rights may include the right to receive
<br />certain disclosures, to request and obtain cancellation of'th� Mortgage Tnsurance, to have the Mortgage Insurance
<br />terminated automatically, and/or to receive a refund of any Mortgage lnsuranee premiums that were unearned at the
<br />time of sueh cancellation or termination.
<br />I1. Assignment of Miscellaneous Proceeds; C�orfeiturc. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous I'roceeds shall be applied to restoration or repair oF th� Property, if the
<br />restoration or repair is economically feasible and Lendcr's security is not lessened. During such repair and restoration period,
<br />Lender shall have the right to hold such Miscellaneous Proceeds until Lcnder has had an oppartunity to inspect such Property
<br />to ensure the work has been completed to L�ndcr's satisfaction, provided that such inspection shall b� undcrtakcn pramptly.
<br />Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unlass an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall not be required to pay Borrow�r any interest or earnin�s on such Miscellaneous Proceeds. lf the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellanaous Proceeds shall be
<br />applied to the sums secured by this Security Tnstrument, whcther or not then due, with the excess, if any, paid to �3orrower.
<br />Such Miscellaneous Proceeds shall be applied in the ordcr pravided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, thc Misccllaneous Proceeds shall be applied
<br />to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />ln the event of a partial taking, destructian, or loss in value of the Property in which the fair market value of the
<br />Property immediately betore the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
<br />secured by this Security lnstrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the surns secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immcdiately bef'ore the
<br />partial taking, destruction, ar loss in value divided by (b) the fair market value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower,
<br />ln thc event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediatcly beforc the partial taking, destruction, or loss in value is less than the amaunt of the sums secured
<br />Nk�BRASKA--Singlc Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />�:� 338.2 Pagc 7 of 12 Form 3028 1/01
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