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<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required tn maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />lnsurance coverage required hy Lender ceases to be available �rom the mort$age insurerthat previously provided such
<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insu�ance previously
<br />in effect, at a cost substantially equivalant to the cost tv Borrower of the Mongage Insurance previousiy m effect, from an
<br />altemate mortgage insurer selected by Lender, If subsCantially equivalent Mortgage Insurance coverage is not available,
<br />Borrnwer shall continue to pay to Lender the amount ofthe separately designated payments That were due when the insurance
<br />coverage ceased to be in effect. 1.ender wili accept, use and retain these payments as a non-refundable loss reserve in lieu of
<br />Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstandmg the fact that the I.oan is ultimately paid in
<br />full, and Lender shall not be required to pay Borrower any interest or eamings on such loss reserve. Lender can no Ionger
<br />require loss reserve payments if Ivlortgage Insurance cnverage (in the amount and for the period that Lender requires)
<br />provided by an insurer selected by Lender again becomes available, is obtained, and I,ender requires separately designated
<br />payments towArd the premiums for Mortgage Insurance. If ],ender required Mortgage Insurance as a cond�t�nn vfmaking the
<br />Loan and Borrower was required to make separately designated payments toward the premiums for Mongage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, nr to provide a non-refundable loss
<br />reserve, until Lender's re9uirement for Mortgage lnsurance ends in accordance with any wntten agreement between
<br />Borrower and Lender providing for such terminat�on or until termination is required by Applicable Law. Nothing in this
<br />Section 10 a8ects Borrnwer's obligation to pay interest at the rate provided in the Note.
<br />Mortgage insurance reimburses L.ender (or any entity that purchases the Note) for certain losses it may incur if
<br />Sorrower does not repay the Loan as ap,reed. Borrower is not a party to the Mongage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions
<br />that are satisfactory to the mortgagc insurer and the other party (or parties).to these agreements. These agreements may
<br />require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available
<br />(which may include funds obtained from Mort$a$e lnsurance premiums).
<br />As a result ofthese agreements, Lender, any purchaser ofthe note, another insurer, any reinsurer, any other entity,
<br />or affiliate of any ofthe foregomg, may receive (directly or induectly) amounts that derive frnm (or might be characterized
<br />asl a poriion of Borrower's payments for Mortgage Insuranca, in exchange for sharing or modifymg the mortgage insurer's
<br />risk, or reducing losses. If such agreement provided that an affiliate of Lznder takes a share of the insurer's risk m exchange
<br />for a shazc of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will uot affect the amounts that Borrower ha� agreed to pay for Mortgage
<br />Insurance, or any uther terms of the Loan. Such agreements will not ineresse the amount Rorrower will owe ior
<br />MoMgage Insurance, and they wlll not entitle Borrower to any reTund.
<br />(b) Auy such agreements will not afTect the rights Borrower has — if anv — with respect to the Murtgage
<br />Insurauce under the Homeawners Protectian Act of 1998 or any other law. The�e rights may iuclude the right to
<br />receive certaln disclosures, to rcquest and o6tain cance(lation of the Mortgage Insurance, to have the Mortgage
<br />lnsurance terminated automatically, and/or to receive a refuud of any Mortgagc Insurance premiums that were
<br />unearned at the time oT such cancellation or termination.
<br />11. Assignment of Miscellaneaus Yroceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied tn restoration or repair ofthe Property, if
<br />the restoration or repair is econnmically feasible and Lender's securiry is not lessened. Dwing such repair and restoration
<br />period, Lender shall have the right to hold such Miseellaneous Pmceed.s until Lender has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest tn be pa�d on such
<br />Miscellaneous Proceeds, Lender shall not be required tn pay Borrower any interest or earmn$s on such Miscellaneous
<br />Proceeds. If the reswration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applicd to the sums secured by this Security lnsttumeni, whether or nnt then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneaus Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total takin$, destructioq or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security lnstrument, whether or not then due, wrth the excess, if any, paid to Aorrower.
<br />In the event of a partial taking, destruction, or loss in value oY the Property in which the fair market value of the
<br />Property immediately hefore the partial taking, destruction, or loss in value ic equal tv or gc�ater than the amount ofthe sums
<br />secured by this Securiry lnstrument immediately before the partial taking, destructinn, or loss in value, unless Horrower and
<br />Lender othenvise agrae m writing, the sums secwed by this Secwity lnstrument shall be reduced by the amount of the
<br />Miscel lanenus Proceeds multiplied by the following fractivn: (a) the total amount of the sums sccured immediately beft>re the
<br />partial taking, destruction, or loss in value divided by (6) the fair market value of the Property imroediately 6efore the partial
<br />taking, destruction, or loss in value. Any 6alance shall be paid to Borrower.
<br />ln the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately hefore the partial takmg, destruction, or loss in value is less than the amount of the sums secured
<br />immediately beFore the partial taking, destruction, or loss in value, unless Borrower and Lznder otherwise agree in writin$,
<br />the Miscellaneous Proceeds shall6e applied to the sums secured by this Secunty lnsmunent whether or notthe sums are then
<br />due.
<br />If the I'ropeny is abandoned by Borrower, or if; after nntice by Iznder to Borrower that the Opposing Party (as
<br />defined in the next sentenca) offers to roake an award to settle a claim for damages, Aorrower fails to respnnd tn Lender
<br />within 30 days afrer the date the notice is given, Lender is auihorized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured 6,y this Secunty Instrument, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Prnceeds or the party against whom Borrower
<br />has a ri$ht of action in regard to Miscellaneous Proceeds.
<br />Borrawer shall 6e in default if any action or prnceeding, whether civil or criminal, is begun that, in Iznder's
<br />judgm ent, could result in forFeiture ofthe Property vr other material impairment of I,ender's interest in the Property or nghts
<br />under this Securiry Instrument. Borrower can cuce sueh a default and, if acceleration has occurred, reinstate as provided m
<br />Section 19, by causing the action or proceeding to 6e dismissed with a niling that, in Lender's judgment, precludes torfeiture
<br />ofthe Yroperty or other material impairment ofLender's interest in the Property or eights underthis Sec:urity Insnwnent. Thc
<br />proceeds of any award or claim for damages that are attributable to the impaianent ofLender's interest in the Property are
<br />hereby assignad and shall 6e paid to Lender.
<br />All Miscellaneous Yroceeds that are not applied to restoration or repair ofthe Property shall be applied in the orcier
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Leuder Not a Waiver. �xtensivn of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by L.Qnder to Borroweror any Successor
<br />in Interest of Borrower shall not operate to release the liability of Barrvwer or any Successors in Interest of Borrower.
<br />Lender shall not be required to commence proceedings against any Successor in Interest ofBorrower or to refuse to extend
<br />time for payment or otherwise modify amortization ofthe sums secwed by this Security Instrument by reason vfany demand
<br />made 6y the ongmal Borrower or any Successnrs in Interest ofBorrower. Any forbearance by L.�nder in exercising any ri�t
<br />NEBRASKA—Single Family—Prnnie Mxe/Freddie Mac UNIFURM IN$TRIIMENT Form 30y8 ]!Ol (page 5 of 8 pnges)
<br />y75q Cv (311�9) Ona308-2[2 Creative Thinking, Inc.
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