|
201�40457
<br />As a result of these agreements, Lcndor, any purchaser of the Note, another insurer, any rcinsurcr,
<br />any other entity, or any �liate of any of the foregoing, may receive (d'uectly ar indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Y3arrower' s payments for Mortgage Insurance, in
<br />exchange for sharitz� o:r zxzodifyiu�.g the zaortgage i.nsiu risk, or reducing losses. If sach a�-eement
<br />prOVideS ihat an af�liate of Lender takes a share of the insurer' s risk in exclaaa�.ge for a share af the
<br />premiums paid to the insurer, the anraz�.gem�ent is o�ten tenned "captive r�insurance." Further:
<br />(a) Any svch agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any nther terms ot' the Loan. Such agreements wiII na# iacrease the anaou�t
<br />�ot-rower will otive for Mortgage Iusnraace, and they will not entitle Sorrower to any refuud.
<br />{h) Auy snch agreeme�uts will not affeet the rig�ts Bprror�ver has - i� any - with respect tu the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or auy other law. 'I'hese rlghts
<br />may include the right to receive certain dfsclosures, to request and obtain cancellation of the
<br />Mor�gage Insurance, to have the Mortgage Insurance terminateci autpmatically, and/or to receive a
<br />refund af any Mortgage Insuranee premiums that were unearned at the time of snch cancellatiaa or
<br />terminatiom.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscel3aneous Proceeds are hez'eby
<br />assigued to an.d shall be paid to Lender.
<br />If tkae Property is damaged, such Miscellan.eous Proceeds shall be applied to restoration ar repair of
<br />th� Property, if tha restoration or repair is econornically feasible and Lender's security is not lesse��ecL
<br />Duxix�g such repair and restoration period, Lender sha11 have the xight to �old such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensuxe the work has been campleted to
<br />Lender's satisfaction, provided that such inspection shall be undertaken prornptly. T.ender may pay for the
<br />repairs and restoratiau in a siwgle disburseznent or in a series of pro�ess payznents as the work is
<br />completed_ Uzaless an ag�reemezzt is mada in writir�g or Applicable Law requires interest to be paid on such
<br />Miscellaneous Froceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Froceeds. If the restoration or repair is not economically feasible or Lender' s security would
<br />be lessened, the Miscellan.eous �roceeds sha11 be applied to tk�e sunas secured by this Secuxity Xnstrument,
<br />whether or not then due, with the excess, if any, paid to Borrnwer. Such Miscellaneous Procccds shall be
<br />applied in the oxder prov�ided for zn Section 2.
<br />In the event of a total taking, des�'uctian, or loss in vaIne of the Property, the Miscellaneous
<br />Proceeds shaIl be applied to the sums secured by th�s Security Instrument, whether or not t.he�n duc, with
<br />tbe excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or Ioss in value of the Property in which the fair market
<br />value of the Property irnmediately befare the partial taking, destruction, or loss in value is equal to or
<br />greatEr thaza the am.ount of the suans secared by this Secwrity Instzwnent immediately before the partial
<br />taking, destructzon, ox loss iza value, uzx�ess Boz�z�ower az�d Lendex otk�erwise agree in writzng, th.e sums
<br />secwred by tkais Security Instrument shall 6e reduced by txie amount of tkte Miscellaneous Froceeds
<br />multiplied by tk�e following fraction: (a} the tota] ampunt of the sums securcd immediately before the
<br />partial takin,g, destruction, or loss i� vattte di�ided by (b) the fair zzxark�t value of t�e Property
<br />izz�,ediately before ihe partial taking, destnxction, or Ioss in value. Any balance shall be�sid to Borrower.
<br />In the event af a partial takiing, destruction, ar loss in value of the Propex iut which the £axx� z�xarket
<br />valne af the Properiy immediately be�'ore the partial taking, destruction, or Toss in value is less thaan the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, un�ess
<br />Boxirower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Tnstrument whether or not the sums are then due.
<br />If tk�e I'zaperty is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to znake an award t0 settle a claim fpr da�nages,
<br />Borrower faals to respon.d Co Lender within 30 days after the date the notice is given, LendeX' is authorized
<br />to collect and �pply the Miscellanevus Pz'oceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrutnent, whether or nat then due. "Opposing Party" means the third parry
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Barrower has a rig�.t of actian in
<br />regard ta Miscellaneous Proceeds.
<br />Borrower sha11 be in default if any action or proceeding, whether civil or criminal, is beguut that, in
<br />�,ender's judgmezzt, could cesult in. farfeiture of tlae Property or other zzaaterial impairnnent of Lender's
<br />interest in the Property or rights uzzder this Security Instrument. Bnrrowar can cure snch a default and, if
<br />acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be
<br />71J.].3345U9
<br />NEBRA5KA - Single F�mily - Eannie Maa/Freddia Mac UNIFGRM IN5TRUMENT WITH M�5�
<br />�-BA(NE}�os�o� Papcsor�5 iniiiais: Form8028 1f01
<br />m
<br />
|