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- 2Q1100343
<br />payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required,tn maintain Mortgage lnsurance in
<br />effect, or to provide a non-refundable Inss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written
<br />agreement between Borrower and Lender providing for such termination or until terminetion is requirsd by Applicable Law. Nothing in this
<br />Section 10 affects 6orrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does nnt
<br />repay the Loan as agreed. Borrower is not a party to the Mortgage Insurence.
<br />Martgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other
<br />parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the
<br />mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mnrtgage insurer to make
<br />payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage
<br />Insurance premiums►.
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of
<br />any of the foragoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's
<br />payments for Mnrtgage Insurance, +rr exchange for sharing or modil�ing the mortgage insurer's risk, or reducing losses. If such sgreement
<br />provides that an affiliate of Lender takes a share bf the insurer's risk in exchange for a share of the premiums paid to the insurer, the
<br />arrangement is bften termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrowar has agreed to pay for Mortgage Insurance, or any other terms of
<br />the Loan. Such agreements will not increase the amount 9orrower will owe for Mortgage Insurance, and they will not entitle Borrower to
<br />any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respact to the Mortgage (nsurance under the
<br />Homeawners Protection Act of 1998 or any other law. These rights may include the right tv receive certain disclosures, to request and
<br />o6tain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, andlar to receive a refund of any
<br />Mortgage Insurance premiums that were unea�ned at the time of such cancellation or termination.
<br />11. Assignment of Miscellanenus Prviceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to
<br />Lender.
<br />If the Property is damaged, such Miscellanevus Proceeds shall be applied to restoration or repair of the Property, if the restorativn or
<br />repair is economically feasi6le and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right
<br />to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed
<br />to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay fvr the repairs and restoration in a
<br />single disbursement or in e series of progress payments as the work is compfeted. Unless an agreement is made'in writing or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on
<br />such Miscellanaous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this 5ecurity Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneous Proceeds ahall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or Ioss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid to 8orrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately
<br />before the partial taking, destruction, or loss in valus is equal to or greater than the amount of the sums secured 6y this Security
<br />Instrument immediately before the partial taking, destruction, or loss in value, unless 6orrower and Lender otherwise agree in writing, the
<br />sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in velue divided by (b) the fair
<br />market value of the Property immedietely befvre the partial taking, destruction, or loss in value. Any balance shall be paid ta Borrower,
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately
<br />before the partial taking, destruction, or loss in vaiue is less than the amount of the sums secured immediately before the partial taking,
<br />destruction, or loss in velus, unless �nrrower and kender otherwi�e agree in writing, the Miscellaneous Prnceeds shsll be applied to the
<br />sums secured by this 5ecurity Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender m Borrower that the �pposing Party (as defined in the next
<br />sentence) ofters to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the
<br />notice is given, Lender is authorized to collect end apply the Miscellaneous Proceeds either to restoration or repair of th� Property or to the
<br />sums secured by this 5ecurity Instrument, whether or not then due. "�pposing Party" means the third party that owes Borrower
<br />Miscell�neous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in
<br />forfeiture of the Property or other material impairment of Lender's interest in the Prpperty or rights under this Security Instrument.
<br />Borrower can cure such a default and, if acceleration has occurred, reinstate as prqvided in Section 19, by causing the action or
<br />proceeding to be dismissed with a ruling that, in l.ender's judgment, precludes forfeiture of the Property ar ather material impairment of
<br />�ender's interest in the Property or rights under this Security Instrument. The proceeds of any award or cleim for damages that are
<br />attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied ta restorativn or repair of the Property shall be applied in the order provided for in
<br />5ection 2.
<br />92. Borrower Not iieleased; Forbearance By Lender Nota Waiver. Extension of the time for payment or modification of amortization
<br />of the sums sscured by this Security Instrument granted by Lender tn 8nrrowar or any Successor in (nterest of Borrower shall not operate
<br />to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings
<br />against any Successor in Interest of 6orrower or to refuse to extend time for peyment or otherwise modify amortization of the sums
<br />secured by this Security Instrument by reason of any demand made by the original Borrower or any 5uccessors in Interest of Borrower.
<br />Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance vf payments from third
<br />persvns, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shell not be a waiver vf or preclude
<br />the exercisa af any right or remedy.
<br />13. Jvint and Several Liability; Co-signers; Successors and Assigns 8ound. Borrower covenants and agrees that Borrower's
<br />obligations and liability shall be joint and several. However, any Borrower whn co-signs this Security Instrument but does not execute the
<br />Note (a "co-signer"►: (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property
<br />under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c)
<br />agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of
<br />this 5ecurity Instrument or the Nate without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successpr in Interest of Borrower who assumes Borrower's obligations under this
<br />Security instrument in writing, and is approved by Lender, shall o6tain all pf Borrower's rights and benefits under this Security Instrument.
<br />Borrower shall nnt 6e reteased from. Borrower's obligetions and liability under this Security Inatrurxrent tinlass Lender agrees to such release
<br />in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and 6enefit #he
<br />successors and assigns of Lender.
<br />94. Loan Charges. Lender mey charge Borrower fees for services performed in connection with Borrower's default, for the purpose
<br />of protacting l.ender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees,
<br />property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge
<br />a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are
<br />expressly prohibited by this Security Instrument or by Applicable Law.
<br />If the Loan is subject tn a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan
<br />charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loen charge shall be
<br />reduced by the amount necessary to reduce the charge tv ths permitted limit; and (b) any sums already collected from Borrower which
<br />exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the
<br />Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partiai prepayment
<br />withvut any prepayment charge (whether or not a prepayment charge is provided for under the Note1. 8orrower's acceptance of any such
<br />refund made by direct payment to eorrower will constitute a waiver of any right of action Borrower might have arising out of such
<br />overcharge.
<br />75. Notices. All notices given by Borrower or Lender in connection with this 5ecurity Instrument must be in writing. Any notice to
<br />Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFQRM INStRUMENT Form 3028 1/09
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