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201009824
<br />As a result of these agrccmcnls, Lender, any purchaser of thc Nate, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the fcarc:going, may receive (directly c�r indirectly) amounts that
<br />derive from (or might be characterized as) a portion nf Bc�rrower's payments for M��rtgage Insurance, in
<br />exchangc far sharing or modifying lk►c mortgage insurer's risk, or rcducing losses. Tf such agreement
<br />provides �hal an affiliate of I.ender takGS 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 Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of th� Loan. Such agreements will n�t incresse the arnou�nt
<br />Sorrower will owe for Mortgage Insurance, and th�y will not entitle Borrower to any refund.
<br />(b) Any snch agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance und�r tlxe Homeowners Protection Act of 1998 ar any other law. These rights
<br />may include the right to receive certain disclasures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insuranc� terrninated automatically, and/e�r tc� receive s�
<br />refund of any Mortga�� Insurance prerniums that were unearn�d at the time of such cancellation or
<br />termination,
<br />11. Assignment uf Miscellaneous Proceeds; Forfeiture. All Miscellaneous Yroceeds are hcrc:by
<br />assigned to and shall be paid ta I.ender.
<br />Tf lhC Property is damaged, such Miscellaneous Proceeds shall be applied tc� resCoratian or repair of
<br />the Property, if the restc�ration or repair is economically feasible and I,c:nder's security is not lessened.
<br />During such rcpair and restoration period, T.endcr shall have the right to hold such Miscellancous T'rocGC:ds
<br />until L.ender has had an oppc�rtuniky to inspect such Property to ensure thc work has been completed to
<br />L.ender's satisfaction, provided that such inspection shall be undertaken pramptly. L.ender may pay for the
<br />repairs and restoratic�n in a single disbursement or in a series of progress payments as the work is
<br />cc�mpleted. Unless an agreemcnt is mad� in writing or Applicable Law requires inte;rest to be paid on such
<br />Miscellaneous Proceeds, T.ender shall not be required to pay Borrower any interest or carnings an such
<br />Miscellaneous Procceds. 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 sccur�d by this Security Instrument,
<br />whether or not then due, wilh the �xcess, if any, paid to Borrower. Such Misccllancaus Proceeds shall be
<br />appli4d in the order provided for in Sectian 2.
<br />In the event of a tatal taking, destruction, or loss in value of the Praperty, the Miscellaneous
<br />Proceeds shall be applicd ta the surns secured by this Security Tnstrument, whether �r not then due, with
<br />[he excess, if any, paid to Borxnwer.
<br />Tn the event of a partial taking, destruction, or loss in value c�f khc Property in which the fair market
<br />value of the Yroperty iznmediately before the partial taking, destruction, c�r loss in value is equal to or
<br />greater than the amount oP fhe sums secured by this Security Tnstrument immediately bef��re khe partial
<br />taking, destruction, or loss in value, unless Borrowcr and I�ender atherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amounl of the Miscellaneous Yroceeds
<br />multiplied by the following Fraclion: (a) the total amount of the sums secured immedialcly bcfUre the
<br />partial taking, destruction, or loss in valuc divided by (b) the fair market value of the Property
<br />irnmediately before the partial �aking, destrvction, or loss in value. Any balancc shall b� paid to Borrower.
<br />In the �vent af a partial taking, destruction, or loss in valu� af the Property in which the fair market
<br />value of the T'rc�perty imrnediately before the partial taking, destruclic�n, or loss 'rn value is less than the
<br />amount of the sums secured immediately before the partial taking, destructian, ar loss in value, unless
<br />Borrower and Lender olherwise agree "vn writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrumeut whether or not the sums are then due.
<br />Tf lhc Pr�party is abandoned by Borrower, or if, after notice by Iacnde;r to Borrower that the
<br />Opposing Party (as dtfined in the next sentence) offers to make an award to seftle a claim fnr darr�ages,
<br />Bprrower fails to respond to T.ender wilhin 30 days aflGr [h� date the notice is given, Lender is authorized
<br />to c.�llect and apply the Miscellaneous Procceds cither to restarati�n ar repair of the Property or to the
<br />sums secured by this Security Tnstrument, whether or not then due. "Oppc�sing Party" rneans the third party
<br />that owcs Bc�rrawer Miscellaneous 1'roceeds or the party against whom BorrUw�:r has a right of action in
<br />r�gard to Miscellaneous Proceeds.
<br />Borrower 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 Property or other material impairment of T.ender's
<br />interest in the Property or rights under this Security Instrumcnt. Borrowcr can eure such a default and, if
<br />NEBRASKA - Single Family - Fannie MaelFreddie Mac UNI�ORM INSTRUMENT
<br />�-BINE) iosi i i Page 9 nf 16 ini Form 3028 1I01
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