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201100283
<br />LOAN #: U279075279
<br />risk in exchange far a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance. °
<br />Further;
<br />(a) Any such agreemants will nat affect the amounts that Borrower has agreed to pay for Martgage
<br />Insuranae, ar any other terms af the Laan. Swch agreements will not increase the amount Borrower will owe for
<br />Martgage Insurance, and they will not entitle Borrower ta any refund.
<br />(b) Any such agreements will nat affect the rlghts Borrower has - if any - with respect to tMe MartgAge
<br />Insurance under the Hameowners Pratecticn Act af 1998 or any other law. These rights may include the right to
<br />receive cert�in discicsures, to request and obtain cancellation of the Mortgage Insurance, ta have the Mortgage
<br />Insurance terminated autor►tatically, �tnd/ar to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellanepus Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned ta and
<br />shall be paid ta Lender.
<br />If the Property is damaged, such Miscellaneaus Proceeds shall be applied to restaration or repair af the Property,
<br />if the restoration or repair is economically feasible and Lender's security is not lessened, puring such repair and
<br />restoration period, Lender shall have the rightto hold such Miscellaneous Proceeds until Lender has had an opportunity
<br />ta inspect such Property to ensure the work has been campleted to Lender's satisfaction, provided that such inspection
<br />shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of
<br />prpgress payments as thework is completed, LJnl�ss an agreement is made in writing orApplicable Law requires interest
<br />to be paid an such Miscellanepus Proceeds, Lender shall not be required to pay Borrower any interest or earnings pn
<br />such Miscellaneous Proceeds. If the restorativn pr repair is not economically feasible or Lender's security would be
<br />lessened, th� Miscellaneous Prnceeds shall be applied to the sums secured by this Security Instrument, whether or nat
<br />then due, with the excess, if any, paid to Borrnwer. Such Miscellaneous Proceeds shall be applied in the order provided
<br />far in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Prpceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destructian, or lass in value afthe Property in which thefair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value is equal to ar greater than the amount of the sums
<br />secured by this Security Instrument immediately befvre the partial taking, destruction, or loss in value, unless Barrower
<br />and Lender otherwise agr�e in writing, the sums secured by this Security Instrument shall be reduced by the amount
<br />of the Miscellaneous Proceeds multiplied by the following traction: (a) the tntal amount of the sums secured immediately
<br />befare the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately
<br />before the partial taking, destructian, or lass in value. Any balance shall be paid ta Borrawer.
<br />In the event ofa partial taking, destruction, or loss in value ofthe Property in which th�fair marketvalue ofthe Property
<br />immediately before the partial taking, destruction, pr lass in value is less than the amount af the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not
<br />the sums are then due.
<br />If the Prnperty is abandoned by Barrower, or if, after notice by Lenderto Borr�wer thatthe Opposing Party (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lend�r within
<br />30 days aiter the date the notice is given, Lender is authorized to collect and apply the Miscellaneaus Praceeds either
<br />to restoration or repair of the Property or to th� sums secured �y this Security Instrument, whether or not then du�.
<br />"Opposing F'arty" means the third party that awes Borrower Miscellaneous Proceeds ar the party against whom
<br />Barrawer has a right of action in regard to Miscellaneaus Proce�ds.
<br />Borrower shall be in default if any actinn or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />cpuld result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under
<br />this Security Instrument. Borrower can cure such a default and, if acceleratian has occurred, reinstate as provided in
<br />Section 19, by causing the action or praceeding ta be dismissed with a ruling that, in Lender's judgment, precludes
<br />forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security
<br />Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest
<br />in the Prvperty are hereby assigned and shall be paid ta Lender.
<br />All Miscellaneous Proceeds that are not applied tv restoration or repair of the Praperty shall be applied in the arder
<br />provided for in Section 2.
<br />12. Borrower Not Fieleased; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortizatian of the sums secured by this Security Instrument granted by Lender ta Barrawer ar any
<br />Successor in Interest of Bprrower shall nat operate to release the liability of Borrower or any Successors in Interest af
<br />Borrower. Lender shall not be required to commence praceedings against any Successor in Interest of Borrower or to
<br />refuse to extend time for payment or otherwise modify amortization of the sums secured I�y this Security Instrument by
<br />reason of any demand made by the original Borrawer or any Successors in Interest of Borrower. Any forbearance by
<br />Lender in exercising any right nr remedy including, without limitation, Lender's acceptance af payments from third
<br />persons, entities orSuccessors in Interest of Borrower or in amounts less than the amountthen due, shall notbe awaiver
<br />af ar pr�clude the exercise pf any right ar remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees
<br />that Borrower's obligations and liability shall be joint and several. Hawever, any Borrvwer whp ca-signs this Security
<br />Instrument but does not execute the Note (a °co-signer"): (a) is co-signing this 5ecurity Instrument only ta mortgage,
<br />grant and convey the co-signer's interest in the Property under theterms af this Security Instrum�nt; (b) is not personally
<br />obligated to pay the sums secured by this 5ecurity Instrument; and (c) agrees that Lender and any other Borrower can
<br />agree to extend, madify, forbear ar make any accommadatians with regard to the terms of this Security Instrument ar
<br />the Nate without the ca-signer's consent.
<br />Subject ta the provisians af Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits
<br />under khis Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this
<br />5ecurity Instrument unless Lender agrees to such release in writing. The cavenants and agreements of this Security
<br />Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />NEB�tASKA--Single Family--Fannle Mae/Freddie Mac UNIFORM INSTRUMENT Fprm 3Q281/01 Initials a �
<br />� 1999-2007 Online Documents, Inc. Pag9 b Of 9 E�EEp 0705
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