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� 201100380
<br />In [he event of a partial takiug, destruction, or loss in value of the Froperty in which the fair rnarket val.ue of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
<br />secured by this Security Instrument irnmediately before the partial taking, destruction, or loss in value, uuless Borrower and
<br />Lender otherwise agree in writing, the su.nns secured by Chis Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied 6y the following fraction: (a) the total amount of the sums secured itnmediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property urunediately before the partial
<br />taking, destruction, or loss in value. Any balance shal! be paid to Borrower.
<br />In the event of a partial takin�, destruction; or loss in value of the Property in which the fair market value of the
<br />PropeRy immediately 6efore the partial taking, destxuction, 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 Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds shall be applied to the swns secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined
<br />in the next sentence) offe�rs ta make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days
<br />after the date the nvtice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means
<br />the third party that owes Barrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard
<br />ta Miscellaneous Proceeds.
<br />Borrower shall be rn default if any action or proc�eding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Property or other material impairment of Lendec's interest in the Property or rights under this
<br />Security Instrument. Borrower can cure such a default and, if acceleration tias occurred, reinstate as provided in Section 19, by
<br />causing tt�e action or proceeding to be dismissed with a rulrng that, in Lender's judgment, precludes forfeiture af the Property
<br />or other material impairment of Lender's interest in the Property or rights under ihis Security Iastrument. The proceeds of any
<br />award or claim for damages that are attributable to the impairmep.0 of Lender's interest in the Property are hereby assigned aud
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided far iu Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. �xtension of the time for payment or
<br />modification of amonization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successdrs in Interest nf Borrower. Lender
<br />shall not be required to commence proceedings against any Successor in Interest of Borrower or to refase to extend time for
<br />payment or otherwise modify amorti�ation of the sums secured by this Security Instrument by reason of any demand made by
<br />the original Borrower or any Successors in Interest of Horrower. Any farbearance by Lender in exercising any right or remedy
<br />including, withnut limitation, Lender's acceptance of payments from third persous, entities or Successors in Tnteres[ of
<br />Borrower or iu amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Lia6ility; Co-signers; Successors and Assigns Boand. Borrower covenants and agrees that
<br />Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the
<br />co-signer's interest in the Property under the terms of this Security Instrument; (b) is not persoually obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrawer can agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrnwer's obligations
<br />under this Securiry Instrument in writing, and is appxoved by I..,endcr, shall obtain all of Borrower's rights and benefits under
<br />this Security Instrument. Borrower shall nat be released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The covex�aNs and agreements of this Security Instrument shall bind
<br />(except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. I,oan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default,
<br />for the purpose of protectin$ Lender's interest in the Property and rights under this Security Instrument, including, but not
<br />limited to, attorneys' fees, property inspection and vatuation fees. In regard to any other fees, the absence of express authority
<br />in this Security Tnstrument to charge a specific fee to Borrower shall not 6e constcued as a prohibition on the charging of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law.
<br />If the Loan 'rs subject to a law which sets maximum laan cbarges, and that law is finally interpreted so that the interest
<br />or other loan charges collected or to be collected in counectian with the Loan exceed the permitted limits, then: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the permitted lunit; and (b) any suxz�s already
<br />collected from Borrower which exceeded permitted limits will be refunded to Borrower. I�ender may choose to rnake this
<br />refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
<br />principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayrnent
<br />charge is provided for under the Note). Sorrower's acceptance of any such refund made by direct payrnent to Borrower will
<br />constitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />15. Notices. All notices g'rven by Borrower or Lender in con.nection with this Security Instrument must be in writing.
<br />Any notice to Borrower in counectian with this Secnrity Instrument shall be deemed to have been given to Borrower when
<br />mailed by first class ma'rl or when actually delivered to Borrower's notice address if sent by other means. Notice tn any one
<br />�orrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall
<br />be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall
<br />promptly notify Lender of Boxrower's change of address. If Lender specifies a procedure for reporting Borrower's change of
<br />address, then Borrower shall only report a chauge af address through that specified procedure. There may be only one
<br />desiguated notice address under this Secur'rty Instrument at any one time. Any notice to Lender shall be given by delivering it
<br />or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to
<br />Borrower. Auy notice in connection with this Security Instrument shall nat be deemed to have been given to Lender until
<br />actually received by Lender. If any notice reqaired by tb.is Security InstruuYent is also required under Applicable Law, the
<br />Applicable Law requirement will satisfy the correspouding xequicement under this Security Instrumeut.
<br />16. Governfng Law; Severability; Rules of Construction. This Security Instrument shall be governed 6y federal law
<br />and the law of tbe jurisdiction in which the Property is located. All rights and obligations contained in this Security Iastrument
<br />are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly a11ow the
<br />parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition aga'rnst agreement by
<br />contract. In the event that any provision or claase of this Security Instrument or the Note conflicts with Applicable Law, such
<br />conflict shall not affect other provisions of this Security Instrumeut or the Note which can be given effect without the
<br />conflicting provision.
<br />As used in this Securiry Instrwnent: (a) words of the masculine gender shall meau and include corresponding neuter
<br />words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole drscretiau without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given oue copy af the Note and of this Security Instrumeat.
<br />18. Transfer of the Froperty or a Benet�cial Iuterest in Borrower. As used in this Sectian 18, "Interest in the
<br />T'roperty" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
<br />transfecced iu a bond for deed, contract for deed, installrnent sales contract or escrow agreement, the intent of which is the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />If all or any part of the Property or any Interest in the Property is sold ar transferred (or if Borrower is not a natural
<br />person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written coasent, Lender rnay require
<br />unmediate payment in full of all sums secured by this Security Instrument. Howevex, this aption shall not be exercised by
<br />Lender if such exercise is pcohibited by Applicab(e Law.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mec UNIFUiiM IN87FiUMENT rm 3028 1/d1
<br />8ankers Systems, Inc., St. Cloud, MN Form MD-1-NE 6/17I2000 (page 5 of 7 pages� .�„
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