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201049G�9
<br />As a result af these agreements, Lender, any purchaser of the Note, another insur�r, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly nr indirectly) arnounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments f�r Martgage Insurance, in
<br />exchang� f�r sharing or modifying the mortgage insurer's risk, �r reducing losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the ins�trer's risk in exchange for a share of the
<br />premiums paid tp the insurer, the arrangement is often termed "capfive reinsuran�e." Further:
<br />(a) Any such agreements will not affect the amounts that B�rrawver has agreed to pay far
<br />Mortgage Insurance, ar any other terrns of the Loan. Such agreements will not increase the amaunt
<br />Sorrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements vvill not affect the rights Borrower has - iP any - with respect ta the
<br />Martgage Insurance under the Homear�crosrs Protectian Act of 1998 or any other law. These rights
<br />may include the right to receive certa'rn disclosures, to request and abtain cancellation of the
<br />Mortgage Ir�,surance, ko have the Mortgage Insurance terminated automakically, and/or to receive a
<br />refund of any Mortgage Insurance prerniurns that were unearned at the time of such cancellation or
<br />termination,
<br />11. Assignment of Miscells�neous Proceecls; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or r�pair of
<br />thc Praperty, if the restoration or repair is economically feasible and I,ender's security is nat lessened.
<br />During such repair and restoration period, Lender shall havc the righk lo hald such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Properiy to ensure the work has b��n campleted to
<br />I.ender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />r�pairs and restoration in a single disbursement or in a serie5 c�f progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest ta be paid nn such
<br />Miscellaneous Proce�ds, I,ender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. Tf the restoration or repair is nol �canamically feasible or Lender's security would
<br />b� lessened, the Miscellaneous Proceeds shall be applied to the sums s�cured by this Security Instnxment,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Secti�n 2.
<br />In the event of a total taking, destruclion, Ur lass in value af the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this S�curity I�.strurnent, whether or nat then due, with
<br />thc excsss, if any, paid to Borrower.
<br />In the event of a partial taking, dr:st�ruc:tian, ar loss in value of the Property in which the fair market
<br />valu� af the Property immediately before the partial taking, destruction, �r Ioss in value is �yual lo Ur
<br />gre�ter than the amount of the sums secured by this Security Instrument immediaC�ly b�fare th� paartial
<br />taking, destructic�n, 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 Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) lh� latal amaunt o� the sums secured immediately before the
<br />partial taking, destruction, ar loss in valuu divid�d by (b) the fair market value of the Property
<br />immediately before th� partial taking, destructian, or loss in value. Any balance shall be paid to Borrower.
<br />In the event af a partial taking, destruction, or loss in value of the Property in which ihe 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 se:GUrc;d immcdiately befora ths partial taking, desttvction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds sha11 be applied to the sums
<br />secured by this Security Tnstrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by I.endr:r to B�rrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrow�r fails to respond ta Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply Ihc Miscellaz�aus Prace�ds eith�r lo restUratian ar repair of the Property Ur tp th�
<br />sums secured by this Sc:curily Instrum�nt, wheth�r or not then due. "Opposing Party" rneans th� third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Bo�rtowcr shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Yroperty or other material impairment of Lender's
<br />interest in lhe Prnperty or rights under this Security Instz'um�nt. Barrawer can cure such a default and, if
<br />NEBRASKA - 5ingle Family - Fannie Mee/Frsddie Mac UNIFQRM INSTRUMENT
<br />�-6(NE) loai 11 Paae 9 af 16 Initials: Fql'til 3Q2$ 1/01
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