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201�04178
<br />As a result of these agreements, L.ender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, ar any affiliate of any of the foregoing, may receive (directly or indirectly) amaunts that
<br />derive frorn (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or znodifying the mortgage insurer's risk, or re�ucing lasses. If such agrcement
<br />pravides that an affiliate of Lender takes a shaxe of the insurer's risk in exchange for a share af the
<br />premiums paid ta the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreennents will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Sorrower will owe for Mortgage Insurance, and they will not entitle Sorrower ta any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - iF any - with respect to the
<br />Martgage Insurance under the Homeowners Protection Act of 199$ or any ather law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were anearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Misccllar�cous Proceeds aze hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is darnaged, such Miscellanevus Procceds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is econornically feasible and Lcnder's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right ta hold such Miscellaneous Proceeds
<br />until I.ender has had an opportunity to inspe�t such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspectian shall be undertaken promptly. L.ender may pay for the
<br />repairs and restoration in a single disburseznent or in a series of progress payrnents as the wark is
<br />completed. Unless an agreement is made in writing or Applicable L.aw requires interest to be paid on such
<br />MiscellaneAUS Proceeds, Lender shall noC be required ta pay Borrower any interest or earnings an such
<br />Miscellaneous Proceeds. 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 secured by this Security Tnstrument,
<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 Section 2.
<br />In the event of a total taking, destruction, or loss in value of th� Property, the Miscellaneous
<br />Proceeds shall be applied to the surns secured by this Security Instrurnent, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the T'roperty immediately before the partial taking, destruction, or loss in va�ue is equal to ar
<br />greater than the arnount of the sums secured by this Se�urity Insttvment immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Tnstrument shall be reduced by the amount of the Miscellaneous Proc�s
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />imrnediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in whxch the fair market
<br />value of the Property irnrnediately before the partial taking, destruction, or loss in value is less than �e
<br />amount of the sums secured immediately before the partial Caking, destruction, or lass in value, unless
<br />Barrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the surns
<br />secured by this Security Instrutnent whether or not the sums aze then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Oppasing Party (as de�ned in the next sentence) offers to make an award to settle a claim for damages,
<br />Borxower fails to respond to T.ender within 30 days after the date the notice is given, L.ender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrurnent, whether or not then due. "Opposing Party" rneans the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whorn Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Barrower sha11 be in default if any action or praceeding, whether civil or crirninal, is begun that, in
<br />Lender's judgment, c�uld result in forfeiture of the Property or other rnaterial irnpairment of I.ender's
<br />interest in the Property or rights under this Security Instrurnent. Borrower can cure such a default and, if
<br />NEBRASKA - 5ingle Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT
<br />�-6�NE) 1os�i1 Page9af 15 inic�ais: Form 3028 1/01
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