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20i10�2�5
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, 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 Borrower' s payrnents for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer' a risk, or reducing losses. If such a�reernent
<br />provides that an af�liate of Lender takes a share af the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements 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 />$orrower will owe for Mortgage Insurance, and they will not entitle Sorrower to any refund.
<br />(b) Any such agreements will not affect the rights 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 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 Insnrance preminms that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miticellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property iti darnaged, such Miscellaneous Proceeds shall be applied to restaration 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 Proceeds
<br />until Lender has had an opportunity to inspect such Properry 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 disbursexnent or in a series of progress payznents as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requrres interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoratian 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 lnstrument,
<br />whether or not then due, with the excess, if any, paid to Sorrower. Such Miscellaneous Yroceeds 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 />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Barrower.
<br />In Che event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property unmediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than th� arnount of the surns secured by this Security Instrument 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 �nstrument shall be r�duced by the amount of the Miscellaneous Proceeds
<br />multiplied by the £ollowing fraction: (a) the total amount of the sums secured irnmediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Froperty
<br />imrnediately before the partial takuig, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destructipn, or loss in value of the Property in which the fair marlcet
<br />value of the Property immediately before the partial taking, destructian, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lander otherwise agree in writing, the Miscellaneous Proceeds sha11 be applied to the sums
<br />secured by this Security Instrument whether or not the sums are than due.
<br />If the Praperty is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Pariy (as defined in the next sentence) offers to make an avvard to settle a claim for damages,
<br />Sarrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to callect and apply the Miscellaneous Proceeds either to restoration or repair of che Property or to tkae
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Froceeds or the party against whom Borrower has a right af action in
<br />regard to Miscellaneous Froceeds.
<br />Borrower sk�all 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 or other material unpairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />231039
<br />NEBRASKA - Single Family - Fannie MaelFreddie M ac UNIFORM INSTRUM ENT
<br />�•s�N�) (0811) Paga9 of 15 Initials: � Form 3028 '�/0�
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