|
�oiioo�37
<br />In the event of a partial taking, deshuctian, qr loss in value af the Property in which the fair market value of the
<br />�roperty immediately before the partial takuxg, desh�ucrion, or loss in value is equa] to oz' �teater than the amount of the
<br />sums secured by this Seclu Ins�ument irnmediately befoxe the partial taking, destruction, or loss in value, unless
<br />Bonower and Lender otherrvise agree in writing, th� siuns secured by this Security Inshuzx►ent shall be reduced by the
<br />amount of the Miscellaneous Proceeds multiplied by the follownig fracrion: (a) the total amauz�t of the sums secured
<br />imniediately before the partial taking, desQuctivn, ar loss in valrte divided by (b) the fair market value of the Property
<br />inn�ediately before the partial taldn�, destxuc�ion, or ]oss in value. Azzy balance shall be paid to Boirower.
<br />In the event of a partial taking, deslx'uction, or loss in vatue of the Property in which the fair m.arket value of
<br />the Property immediately before the partial taking, destruction, or lpss in value is less than the aznount of the suzns
<br />secuxed immediately before the par taking, destruciicin, or loss in value, unless Borrower and �.ender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instniment
<br />whcther or not che sums are then due.
<br />If the Propetty is abandoned by $orrower, or if, after notice by Lender to Bortowez that the Qpposing Party
<br />(as defined in the next senten,ce) offers to make an awaxd to settle a claizn for damages, Borrower fails to respond to
<br />Lender within 30 days after the date the notice is given, T�ender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restaration or repair of the Property or co the sums secured by this Security Tnstrument, whether oi•
<br />not then due. "Opposing Party" mcans the thixd party that owes Borrower Miscellancous Proceeds or the party
<br />against whom Bortower has a right of action in regard to Miscellaneaus Proceeds.
<br />Bonrower sl�all be in default if any action or proceeding, whether civil or crim;inal, is begun that, in Lender's
<br />judgment, could result in for�eiture of the Property or otlaer nnate�al izzapairnaent af Lender's interest in the Property
<br />or rights und�r this Security Tnstrument. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lcnder's
<br />judgment, precludes forFeiture of the Prnperty or other material impairment of Lender's interest in the Property or
<br />rights under this Security Instrument. The proceeds of any award or clairn for damages thac are attributable to the
<br />impairczxent of T,ender's interest in the Property are hereby assi�ned and shali be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br />order provided for ui Section 2.
<br />12. Sorrower Not Released; Forbearance By Lender Not a Waiver. Extcnsion of the tirne for payment or
<br />znodi�cation of amortization of the sums secured by this Security Insmxment granted by Lender to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Aon'o�ver or any 5uccessors in Interest
<br />of Borrower. Lendex shall z�ot be required to commence proceedings against any Successor in Interest of Borrowex
<br />or to refuse to extend time for payment or otherwise modify axnortization of tl�e sutns secured by this Security
<br />Instxunnent by xeason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any
<br />forbearance by Lender in exercising any �ight or remedy including, without li;tx�itation, Lender's acceptance of
<br />payments frorn tlurd persons, entities or Successors in Interest of Borrower or in amounts less than the amount then
<br />due, shall not be a waiver of or preclude the exercise of any right or rem�dy.
<br />13. Joint and Several Liability; Cp-signers; Successors and Assigns Bound, Borrower covenairts and
<br />agrees that Borrower's obligations and liability shall be joittC and several. However, any Borrower who co-signs this
<br />Security TnstrumenC but does nat execute the Nate (� "co-signer"): (a) is co-signing this Security Instrutnent only to
<br />mortgage, grant and conve� the co-signer's interest in the Property under the terms of this Security Instrument; (b) is
<br />not personally obligated to pay the sums secured by this Secur.ity Instrurnent; and (c) agxees that Lender and any
<br />other Borrower can agrea to extend, modify, f'orbear or make any accommodations with regard to th.e terms of this
<br />Security Tnstrument or the Note without the co-signer's consent,
<br />Subject to che provisions of Sectivn 18, any Successor in Tnterest of $orrower who assumes �3orrower's
<br />ohligatic�ns under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's
<br />rights and benefits under this Security Jnstrument. Borrower shall not be released froxr� Bor,rower's abligatfons and
<br />liability under this Security Tnstrument unless Lender agrees to such release in writing. The covenants and
<br />agreements of this Secwrity Iz�strument shall bind (except as provided in Section 20) and benefit the successors and
<br />assigns of Le nder.
<br />NEBRASKA--Single FarnAy--Fannie MaelFreddie Mac UNIk'URM TNSTRT7IVI�NT �"orm 3028 1/01 (page 9 of 14 pages)
<br />GV2023.T-TP
<br />I I��I�I III�I IIII) ��III IIIII IIIII I'lll �IIII IIIII III�I IIII tllllll I'I IIIII� II�II IIIII II��I IIII IIII
<br />1 1 CI 1 2 9 � � � 8 G V 2[] 2 3
<br />
|