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2011002�4
<br />As a result of these agreernents, Lender, any purchaser of the Note, another ansurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Sorrower' s payrnents for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer' a risk, or reducing ]osses. If such agreement
<br />provides that an af�liate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />pramiurns paid to the insurer, the arrangement is often termed "captive r�insurance." Further:
<br />(a) Any such agreements will not affect the amounts that Sorrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Barrower will owe for Mortgage lnsurance, and they will not entitle Borrower to any re1'und.
<br />(b) Any such agreements will not affect the rights Borrower has - if any -�vith respect to the
<br />Mnrtgage Insurance under the Homeowners Protection Act of 1998 or any other law. �'hese rights
<br />may include the right to receive certain disclosures, to request and obt�in cancellarion 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 unearned at the time of such cancellation or
<br />termination.
<br />l�. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the ProperCy is dama�ed, such Miscellaneous Froceeds shall be applied to restoration pr repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />Durizig such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender' s satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrar�ver any interest or earnings on such
<br />Miscellaneous Proceads. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the 1NSiscellan�ous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid ta Borrower. Such Miscellaneous Proceed� 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 the Property, the .Miscellaneous
<br />Proceads shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrawar.
<br />ln the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately befare the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrurnent immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender othenvise agree in writing, the sums
<br />secured by this Security Instrurnent shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) th.e total amount of the sums secured irnrnediately before the
<br />partial talcing, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In the event oF a partial taking, dest�ruction, or loss in value of the Property in vvhich the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destructian, or loss in value, unless
<br />Bprrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the surns
<br />secured by this 5ecurity Instrument whether or not the sums are then due.
<br />If the PrpperCy is abandoned by Barrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to sectle a claun for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lend�r is authorized
<br />to collect and apply the Miscallaneous Proceeds either to restaration or repair of the Praperty or to the
<br />sums secured by this 5ecurity Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrawer Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whcther civil or criminal, is begun that, in
<br />Lender' s judgrnent, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the PrpperCy or rights under this Security Instrument. Sorrower can cure such a default and, if
<br />231041
<br />NEBRASKA - Single Family - Fannle M ae/Freddie M ac UNIFORM INSTRUM ENT `
<br />�-B(NE) (0611) Page9 of 15 in�cisis: �. 1' Form 3028 1/01
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