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20�10047�
<br />As a result of these agreements, Lender, any purchaser 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 tlaat
<br />derive fro��:i (or might be characterized as) a portion of Borro��er's payinents for Mortgage Insurance, in
<br />exchange foc sharing or modifying the mc�rtgage insurer'� risk, or reducing losseti. If such �.igceei��ent
<br />provides that an affiliatc of Lender takes a share of the insurcr's risk itt exchange for a sharc of thc
<br />premiums paid to the insurer, the arr�.i��gement is of'ten termed "captive reinsurance." Further:
<br />(a) Any sucla agree�a�ents will not affect the amounts that Borrower has a�reed to pay for
<br />Mnrtgage insurance, or any other terms of the Loan. Such agreements will not inerea�e the a►��ount.
<br />Borrower will owe for Mortgage Insurancc, and the� will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rtghts Borrower has - if �uiv - with respc:ct to the
<br />Mortga�e lnsurance under lhe Ho�ncowners Protection Act of 1998 or any other law. '1'hese rights
<br />may include the ri�ht to reccivc certain disclosrires, tra requcst and obtain cancellation nf thc
<br />Mnrtgage Insurance, to k�avc the Mortgage. I�isurance tc► automatically, and/or to rcccive a
<br />refund of any Mortgage Insurance premiums that wcrc uncarned at the time of sunc �anccllatio�a or
<br />tcrmination.
<br />11. Assigmnent of Miscella��eous 1'roceeds; Forfeiture. Al] Miscellaneous Pr�ceeds arc hereby
<br />assigned to and shall be paid to Lender.
<br />If' the Property is damaged, sucl� Miscellaneous Proceeds shall be �pplied to restoration or repair ��f
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />Uuring such repair and restoration period, Lender shall have the right to hold such Miscellaraeous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completcd to
<br />C,ender's satisfaction, provided that such inspection shall be undertaken promptly. Lea�der may pay for the
<br />repairs and restoration in a single disbursement or in a series of pro�ress paymcnts as the work is
<br />completed. IJnless an agree�nent is ia�ade in writing or Applicable L,aw requires interest to be paid on st.icl�
<br />Miscellaneous Yroceeds, Lender shall not he required to p��y Sorrower any interest or e�.�ra�ings on such
<br />Miscellaneous Proceeds. If� the restoration or repair is not economically fcasiblc or Lender's security would
<br />be lesseneci, the Miscellaneous Procceds shall be applied to the sums secured by this Security lnstrumcnt,
<br />whether or not then due, with the excess, if any, paid to Borrowcr. Such Miscellaneous Proceeds shall he
<br />applied in the order provided for in Section 2.
<br />In the evcnt of a total taking, destruction, or loss in val��e of the F'ropert.y, the Misccllancous
<br />Yroceeds shall be applied to lkte sums secured by this Security Ialstrument, whether or not then di.�e, with
<br />thc cxcess, if �.uay, paid to .Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Yroperty in which the fair rnarket
<br />value of the Property im���ediately beforc the partial taking, desti or loss in value is equal to or
<br />greater th�.�n the amount of the sums secured by lhis Security lnstrument inirnediately hefore the partial
<br />taking, destruction, or loss in value, unless Borrower and Lendcr otherwise a�ree in writin�, the sun�s
<br />secured by this Sccurity Instrwnent shall be reduced by thc amount of the Miscellaneous Proceeds
<br />multiplied by the Following G (�.i) tlie total amount of the sums secured inunediatcly bcfore the
<br />partial taking, destruction, or loss in value divided by (b) the fair anarket value of thc Property
<br />itnmediately hefore the p�trtial t�.tking, destn�ction, or loss in vali.�e. Any balance shall be ��aid to Borrower.
<br />In the event of� a partial taking, destruction, c�r loss in valuc of' the Property i�l wl�ach tlie fair iilarket
<br />v�.ilue of thc Pro��crty imniediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured in�.mediately before the partial takiag, destniction, or loss in value, unless
<br />Borrower and Lendex otlierwise agree in writin�, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Tnstrumcnt whether or not the sums are thcn due.
<br />If �he I'roperty is abandoned by Borrower, or if, after ��otice Liy Lcnder to Borrower that the
<br />Opposing Party (as deFined in the next sentence) offers ta anake 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 />lo collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />surras secured by this Security Instrurnent, whether or not then due. "Opposing Party" �a�e�.ins the third party
<br />that owes Borrowcr Miscellaneous Pr��ceeds or the party against whoz�� Borrower has a right of' action in
<br />regard to Miscellaneous Pr�ceeds.
<br />Borrower shall be in default if any acdon or proceeding, whethcr civil or criminal, is begun that, in
<br />Lender fUCI�'IT1CI1[, COLIICI CCSUI[ in forfeitw�e of the Property or other materi�.�l i�npairment of' Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default �.ind, if
<br />NEBRASKA Single Family -�annie MaelFreddie Mac UNIFpRM IN57RUMENT
<br />�-61NE) �oa>>� Pa�e9uf 15 �nitia�s: Form 3028 1/01
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