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<br />As a result of these agreements, Lcnder, any purc1laser of the Note, another insurer, any reinsurer,
<br />any other entity. or any aftliate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be cliaracterized as) a portion of Barrower's payments for Mortgage Insurance, in
<br />exchange f'or sharing or modifyin� the martpage 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 exchan�e for a share of the
<br />premiums paid tc� the insurer, the arrangement is ofren termed "captive reinsurance." Further:
<br />(a) Any such agreements w�ill not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terrns af the Loan. Such agreexnents will not increase the amount
<br />Borrower will owe fox Mortgage Insurance, and they will not entitle Sarrower to any refund.
<br />(b) An�� such a�reements wi11 not affect the rights Borrower has - if �n�� - with respect to the
<br />Mortgage �nsurance under the Homeowners Protection Act of 1998 or any ather law. These. rights
<br />may include the right to areceive certain disclosures, to reqnest and obtain cancellation of the
<br />Mprt�age Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of an3• Mort�age Insurance pre►niums that were unearned at the time of such cancellatiun or
<br />termination.
<br />11. Assignment of Miscelfanenus Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to ancl sl�all be paid tn Lender.
<br />If the Property is damaged, such IvTiscellaneou� Proceeds shall be applied to restoration or repair of
<br />the Property, if tlle restoratipn or repair is econornicall�� feasable and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the ri�ht ta hold such Miscellaneous Froceeds
<br />until Lender has kzad an opportunity to inspect such Property to ensure tne work has been completed to
<br />I,ender's satisfaction, provided that sucr, inspection shall he undertaken prom�tl,y. Lender may pay fnr the
<br />repairs and restoration in a. single disbursement or in a series of prograss payments ati the work i�
<br />cornpleted. LTnless an a�reemeni is made in writin� or Applicable Law requires interest to be paid on such
<br />Miscetlaneous Proceeds, I.,end�r shall not be rec�uirec� to pa}� �iorrower any interest or earnings on such
<br />Miscellaneous Proceeds. Ii the restoration or repair is not economicaliy feasibie or Lender's Gecuricy would
<br />be lessened, th.e Miscellaneous Proceed5 shall be appiied ta the sums secured by this Security l.nstrument,
<br />whether or nai ti�eri due-, with the excess, if any, paid t.o Sorrower. 5uch Miscellaneous Proceeds shall be
<br />applied an the order provided for in Section. Z.
<br />In the ev�nt of a total taking, destruction, o: loss in value of the Property, the Miscel.laneous
<br />Proceeds shall be applied to the tiums secured by this Security Instrurnent, whether or not then due, witl�
<br />the excess, if any, paid ta Sorrower.
<br />In the event of a partial taking. destructian, or ios� in value of the Property in which tl�e fair market.
<br />value of the Propertv immediately before the partial :akin.�, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by tl�is S�curity lnstrument irnmediately before the partial
<br />takinb, destruction, or loss in value, unless Borxower and Lender otherwise a�ree in writin�, thc sums
<br />secured bv this Security Instrument shal] be reduced by the amount of the Miscelianeous Froceeds
<br />multiplied by the follo��ing fractiorr: (a} the tota; aznount of the sums secured immediately before the
<br />partial takzng, destruction, or loss in value divided by (b) the fair markeC value of the Property
<br />immediately before th� partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the cvent of a partial taking, destructian, ar loss in value of the Property in which the £air market
<br />value of the Property irnmediately before the partial taking, destruction, or lass in value iG less than the
<br />amvunt of tlie sums Secured i.mmediately before the partial taking, destruction, or Ioss in value, un,less
<br />Borro�r�er and Lender otherwise agree in writing, the Miscellaneous Proceeds shall. be applied to the suins
<br />secured by this Securic.y Instrument whether or not tk�e sums are then due.
<br />Tf tlae Property is abandoned by Borrower, ar if, after notice 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 respand to Lender within 3� days after the date the notice is given, Lender is authorized
<br />to collect rand apply the Miscellaneous Proceeds eicher to restoratian or repair of the Property or to the
<br />sums secured by this Security Instniment, whether or not then due. "Opposing Farty" means the third party
<br />that owes �orrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower sliall be in default if any action or proceeding, whether civil or criininal, is begun that, in
<br />Lender' s judgment, could result in forfeiture of the PrpperCy or othEr rnaterial impairment of Lender' s
<br />interest in the Property or rights under this Security lnstrument. Borrower can cure such a default a�id, if
<br />231011
<br />NEBRASKA - Single Family - Fannie Mas/Freddie Mac UNIFORM INSTRUMENT
<br />�-6(NE) �os�i> Pago9 or �s Init'ia�s: o m 3028 1101
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