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<br />As a re5ult of these agreement5, Lender, any purc}aaser 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 charactenized as) a portion of Eorrower's payments for Mortgage lnsurance, in
<br />exchange for sharing or modifying the rnortgag� insurer's risk, or reducing losses. If such agreernent
<br />provides that an af�liate of Lender takea a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captiv� reinsurance." Further:
<br />(a) Any such agreernents will not aff'ect the amounts that Borrower has agreed to pay for
<br />Murtgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle Sorrower to any refund.
<br />(b) Any such agreements wi11 not affect the rights Sorrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 199$ or any other law. These rights
<br />ma,y include the right to receive certain disclpsures, to request and obtain cancellatian of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mort�age Insurance premiums that were nnearned at the time of such cancellation or
<br />termination.
<br />11. Assi�nment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and sha11 be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall 6e applied to restoration or repair nf
<br />the Property, if the restoration or repair is economically feasible and Lender's security is npt lessened.
<br />Durinb 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 Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection sha11 b� undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an a�reement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceed5, l,ender shall not be required to pay Borrower any interest or earnin�s pn such
<br />Miscellaneous Proceeds. If the restpration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Pmceeds shall be applied to the surns s�cured by this Security Tnstrurnent,
<br />whether or nnt then due, with the excess, if an.y, paid to Borrower. Such Miscellaneous Proceeds s1�a11 be
<br />applied in the order provided for in Section 2.
<br />In the event of a total taking, destructipn, or loss in value of the Property, the Miscellaneous
<br />Procaeds shall be applied to the surns secured by this Security Instrument, whether pr nnt then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destxuction, or loss in value- of the Property in which the fair naarket
<br />value of the Property immedia�ely bef'ore the. partial taking, destruction, or loss in value is equai to or
<br />greater than the amount of Che sums secured by this Securiry Instrument imrnediately 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 Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destructian, or loss in value divided by (b) the fair market value of the Praperty
<br />immediately before tb.e partial taking, destruction, or loss in value. Any balance shall be paid to Box
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the suzns secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sunas
<br />secured by this Security Instrument whether or not the sums arE then due.
<br />lf the Praperty is abandoned by Borrower, or if, aft�r notice by Lender to Borrower that the
<br />Opposing Party (a5 defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrurnent, whether pr not then due. "Opposing Party" means the third parCy
<br />that owes Borrower Miscellaneous Prpceeds or th� party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall 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 impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />231043
<br />NEBRASKA - Single Family -�annie M ae/Freddie M ac UNIFpRM INSTRUM ENT
<br />�-6�NE) �oe�i� Page9 of 15 inic�ai : Form 3028 1101
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