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20��44358
<br />As a result of these agr�ements, Iaender, any purchascr of the Nate, anokher insurer, any rcinsurer,
<br />any othur entity, c�r any affiliate of any of thc foregoing, may receive (direc:tly or indirectly) arnounts that
<br />derive from (or might hc characterized as) a portion of Borrower's payments f"or Martga$e Insurance, in
<br />cxchange for sharing or madifying the rnortgage insurer's risk, or reducing losses. If such agr�ement
<br />provides that an affiliate c�f Lender takes a share of the insurer's risk in exchange for a sharc of the
<br />premiums paid to the insurer, the arrangemenf is often tcrmed "captive reinaurance." Further:
<br />(a) Any such agreernents will not aFFect the amounts that Borrower has agreed ta pay for
<br />Mortgage Insurance, or any other terms of th� Loan. Such agreements will not inere�se the amount
<br />Borrower will owe for Mortgage Insurance, ancl they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not afFect the right,s Borrower has - if any - with respect to t�e
<br />Mort�gge Insurance under the Homeowners Protection Act uf 1998 or any other law. These rights
<br />may include the right to receive certain disclosnres, tn request and obtain cancell�tion of the
<br />Martga�e Insurance, to havc the Mort�;age Insurance terminated autprnatically, and/t�r to receiv� a
<br />reFund of an,y Mortgags Irrsurance premiums that were unearn�d at the time of sueh cancellation or
<br />termination.
<br />11. Assignment of Miseellaneous Proc:�eds; Forfeiture. AlI Miscellaneous Praceeds are hereby
<br />assigned to and shall be paid to T.ender.
<br />If the Property is damagcd, such Iv�iscellaneous Proceed5 shall be applied to restoration pr repair of
<br />the Property, if the restcaration or repair is ccnnoinically feasible and Lender's security is not Iesaened.
<br />During such repair and rustoration period, T.ender shall have the right to hold such Miscellaneous Prc�ceeds
<br />until L,ender has had an op�c�rtunity to inspect such ProperCy to ensure the work has been completed te�
<br />Lender's satisfaction, providcd that such inspection shall be undertaken promptly. Lender may pay for itxc
<br />repairs and restoratic�n in a single disbursement or in a scries of progress payments as the work is
<br />completed. Unless an a�reement is rnade in writing or Applicable I�w requires interesl io be paid nn such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest c�r earnings an such
<br />Misccllaneous T'roceeds. If the restoration or rcpa'vr is not economically feasible c�r Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied tc� the sums secured hy this Security Instrum�:nt,
<br />whether ar not then due, wikh the excesa, if any, paid to Borrc�wer. Such Miscellancous Yrocecds shall be
<br />applied in the order provided it>r in Section 2.
<br />In lhe event ��f a tota! taking, dc:struction, or loss in value of lhe Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrumcnt, whether or not then due, with
<br />the cxcess, if any, paid �o Borrowcr.
<br />Tn the event of a partial taking, destruction, c�r loss in value of the Properiy in which lhe fair markek
<br />va1nC of the Property immediately before the partial taking, destruction, or loss in value is equal Co or
<br />grcater than the amount of the sums secured by this Se�urity Instzvment immediately before the partial
<br />taking, destruction, or loss in value, unless Borrc�wer and Lcnder otherwise agrec in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the follvwing fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market valuc; of the Property
<br />immediatcly before the partial taking, deslruction, or lc�ss in valuc. Any balance shall bc paid to Boarrower.
<br />In the event of a partial taking, destructian, or loss in value of lhe Property in which Ihe fair market
<br />value of lhe Property immediately before ihr: partia] taking, destruGtion, or lass in value is less than the
<br />amount of [he sums secured immediately before the partial taking, destrucliUn, or loss in value, uziless
<br />Borrow�r and Lender otherwise agree in writing, lh� Miscellaneous Proce�ds shall b� applied la the sums
<br />securcd by this Sccurity Instruinent wh�ther or nol the suins are then due.
<br />If the Yroperly is abandoned by Borrower, nr if, afiur notice by I,ender [t� Borrowcr that the
<br />Upposing Party (as defincd in the next sentence) c�ffers to make an award to settle a claim for damages,
<br />B�rrower fails to respond to Lender within 3Q days after the date the notice is given, L.endcr is authorized
<br />t� collecl and apply the Miscellaneous Proceeds either to restoratian or repair af the Prcrperty or ta lhe
<br />sums secured by this Sccurity Instrument, whethcr or not thean due. "Uppc>sing Party" means the lhird party
<br />khat owes Borrower Miscellaneous Proceeds c�r the party against whom Borrower has a right �f action in
<br />regard to Miscellanec�us Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, coutd result in forfeiture of lhe Property or other material impairment of Lcnder's
<br />interest in the Property or rights under this Security Tnstrument. Borrower can Gure such a default and, if
<br />NEBRASKA - Single F�mily - Fannie Mae/Freddie Mac UNIFARM IN57RUMENT
<br />�-B��E� 10877) Pageeaf 16 Init : Form 3028 ����
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