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2oi�oo�s�
<br />As a result of thes� agreernents, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any ofher entity, or any affiliate af any of the foregoin�, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower' s payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer'S risk, or reducing losses. If such agreement
<br />provides that an af�liate of Lender takes a share of the insurer's risk in exchange far a share of the
<br />premiurns paid to the insurer, the arrangennent is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will nat affect the amonnts that Sorrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the arnaunt
<br />Sorrower will owe for Mortgage Insurance, and they will not entitle Barrower to any refund.
<br />(b) Any such agreements will not affect the r►ghts Sorrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the ri�ht to receive certain disclosures, tu request and obtain cancellation of the
<br />Mort�age Insurance, to have the Mortgage Insurance terminated autornatically, and/or to receive a
<br />refund of any Mprtgage Insurance premiums that were unearned at the time of such canceilation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Farfeiture. All Miscellaneous Proceed5 are hereby
<br />assigned to and 5ha11 be paid to Lender.
<br />If the Property is dama�ed, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Praceeds
<br />until Lender has had an opportunity to inspect such Prop�rty to ensure the work has been completed to
<br />L.ender' ti satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for die
<br />repairs and restoration in a single disbursement pr in a series of progress payment� as the work ia
<br />completed. Unless an agreem�nt is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, l..ender shall not be required to pay Borrower any interest or earnings on sucl�
<br />Miscellaneous 1'roceeds. If the restoration or repair is not economically feasiblc or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the surns secured by this 5ecurity instrument,
<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 S�ction Z.
<br />ln the event of a total taking, destruction, or loss in value of the Property, the Nliscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the exc�ss, if any, paid to Borrower.
<br />In the event pf a partial taking, destruction, or loss in value of die Praperty in whicl� the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is �qual to or
<br />greater than the amount. of the sums secured by this Security Instrument irnrnediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in vvriting, the sums
<br />secured by this Security Instrument shall be reduced by the aznount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the tota] amount of the sums secured immediately before rhe
<br />partial taking, destxuction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial talcing, destruction, or lvss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destructian, or loss in value of the Property in which the fair market
<br />value of the Froperty immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured irnmediately before the partial taking, destruction, oz lass in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If tk►e Property is abandoned by Borrower, or if, after notice by Lender to Sorrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award ta settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Ivliscellaneous Proceeds eitk�er to restoration or repair of tYae Prpperty or to the
<br />sums secured by this Security Instruxnent, whether or not then due. "Opposing Party" rneans the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />re�ard to Miscellaneous I'roceeds.
<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 ox other material impairment oF Lender's
<br />interest in the Property or rights under this Security Instrument. Bozrower can cure such a default and, if
<br />231034
<br />NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT �
<br />�-6(NE) �os� �� Page 9 of 15 in�c�e� Form 3028 1/01
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