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2011Q0412
<br />11110563B3
<br />again becomes availablc, is obtained, and Lendcr rcquires sepsrately designated payments toward the premiums Sor Mortgagc
<br />Insurance. IF I.ender required Mortgage Insuranca as a condition of making thc Loan and Borrower was requircd to makc
<br />separately designated puyments toward the premiunts for Martgege lnsurance, Barrower shall pay the premiums required tp
<br />maintain Mortgage Insurance in effect, or tn pravidc a non-refundsble Ioss rescrvc, until I,endcr's requirement fbr Mortgage
<br />Insurancc ends in accordance with any written agreemcnt betwcen �onrpwer and I.ender providing for such termination or untit
<br />terminatian is required by Applicable Law. Nothing in this Section 10 affccts Borrower's obligation ta pay interast at the rate
<br />prnvided in the Note,
<br />Mortgage Insurance reimburses I.ender (or any entity that purchases the Note) for ccrtain losses it may incur iT
<br />Borrower does not repay the Loan ns agreed. Borrower is nvt a party to the Mortgage Tnsurancc.
<br />Mortgage insurers evaluate their tntal risk an al1 such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify thcir risk, or reduce losses. These agrccments are on tenns and conditions
<br />that are satisfactary to thc m�rtgage insurer and the other party (or parties) to these agreements. These agreements may require
<br />the marlgage insurer to make payments using any saurce uf funds that tha mortgagc insurer may have nvailable (which may
<br />include funds obtained trom Martgage insuranca premiums).
<br />As a result of these agreements, Lender, any purchaser of the Natt;, another insurer, any reinsurer, any other entiry, ar
<br />any affiliate of any af the Foregoing, may receive (direatly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion of Borrower's payments for Mortgagc Insurance, in exchange For sharing or modifying the mortgage insurer's risk,
<br />or reducing losses. If such agreement pravides that an affiliate of I.ender takes a share af the insurer's risk in exchange for a
<br />share of the premiums paid ta the insurer, the arrangcmcnt is often termed "captivc rcinsurance." Furthcr:
<br />(a) Any such agreements wfll not affeet the amounts that liarrower has agreed to pay for Martgage Insurance,
<br />or any other terms of the Lonn. Such agreements will nut increasa the amount Borrower will owe for Martgage
<br />Insurance, and thcy will not entitle Borrower to any refund.
<br />(b) Any such agreements will nvt affect the rights �orrqwer has - if any - with respect to the Mortgage
<br />Insuranee undsr the Hnmeowners Protectian Act of 1998 or any other law, These rights m�y include the right to receive
<br />certain dtsclosures, to reyuest and obtain c$ncellatian of the Martgage Insurance, ta have the Mortgage Insurance
<br />terminated automatically, and/ar to receive a refund of any Mortgage Insurance premiums that were anearned at the
<br />timc of such cancellatlan ar termination.
<br />11. Assignment oF Misccllancaus Praceeda�; Forfciture. All Miscellaneous Aroceeds are hereby assigned to and
<br />shall be paid to C.ender.
<br />If the Property is damaged, such Miscellaneous Praceeds shall be applicd to rescpration or repair of the Praperty, if the
<br />restoration vr repair is economically feasible and �.ender's sccurity is not lessencd. During such repair and restoration period,
<br />Lendcr shall have the right to hold such Miscellaneous Proceeds until Lender has had an oppprtunity to inspect such Property
<br />to cnsure the work has be�n carnplctcd to Lender's satisfaction, provided th�t such inspection shall be undertaken promptly.
<br />Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed, Unless an agreement is made in writing or Applicable I.aw requires inter�st ta he paid on such Miscellsneous
<br />Proceeds, Lender shall not be requircd to pay Borrower any interest or earnings on such Miscellancous Procaeds, If the
<br />restoratian or repair is nat economically feasible or Lender's sccurity would be lessened, tha Misccllaneous Proceeds shall bc
<br />applied to the sums secured by this Security instrument, whether or not then due, with thc exccss, if any, paid to Borrower,
<br />Such Miscellaneous Proceeds shall be applied in the order providcd for in Section 2.
<br />In the event of a total taking, destruction, Ur loss in value of the Praperty, thc Misccllancous Proceeds shall be applied
<br />to the sums secured by this Security Instrumettt, whether ar not thcn due, with the excess, if any, paid tn Barrower.
<br />In the event ot a partial taking, destruction, ar Ivss in value nf tha Property in which the fair market value of the
<br />Praperty immediately before the partial taking, destruction, or loss in value is equal to or greater than the Amount of the sums
<br />securcd by this Security Instrument immediately before the partinl taking, destruction, pr loss in valuc, unlass 8ortawer and
<br />Lendcr otherwise agrcc in writing, the sums scaured by this Security Instrument shall b� reduccd by the amount af th�
<br />Misccllaneous Proceeds multiplied by the fallawing Fraction: (a) the total amount of the sums securcd immediately before the
<br />partiAl taking, destruction, or Ioss in value divided by (b) the fair market value oFthe Property immediately beforc the pnrtial
<br />taking, dcstructian, or lass in value. Any balance shall bc paid to Borrower.
<br />fn thc event of a partial taking, destruction, or lvss in valuc of the Property in which the fair market valua of thc
<br />Property iinmediately befare the partial taking, destruction, or loss in valuc is Icss than thc amount of the sums secured
<br />iVE;l3RASKA••Single Pamily--Fannie Mae/Freddle Mac UNIFORM INS'fRWMENT
<br />� 338.2 Pagc 7 of 12 Form 30Z8 II01
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