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20�iQ0479
<br />As a result of these agreernents, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregaing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or xeducing lasses. If such agreement
<br />provides that an affiliate of Lender takes a shaze of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) tlny such agreements will not affect the amounts that Barrower has agreed to pay for
<br />Mortgage Insurance, or any other terms oF the Loan. Such agreements will not increase the amount
<br />Sorrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive cert�in disclosures, to request and obtain cancellat"ton oF the
<br />Mortgage Insurance, ta have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance prerniums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment af Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lend�r.
<br />If the Praperty is damaged, such Miscellaneous Praceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During 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 />I.ender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement ar in a series of pragress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall nat be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. Tf the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Procceds shall be applied to the suixis secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceetis shall be
<br />applied in the order provided far in 5ection 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not Chen due, with
<br />the excess, if any, paid to Borrawer.
<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 equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower a�nd I..ender otherwise agree in writing, the swns
<br />secuxed by this Security Instrument shall be reduced by the arnount of the Miscellaneous Proceeds
<br />multiplie� by the following fraction: (a) the total amount af the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in va.lue. Any balance shall be �aid to Borrawcr.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair rnar�
<br />value of the Property immediately befoare the partial taking, destruction, or loss in value is less �an �e
<br />amount of the sums secured immediately before the partial taking, destructiaz�, or loss in valne, wiless
<br />Borrower and L.ender otherwise agrce in writing, the Miscellaneous Proceeds shall be applied to tbe �
<br />secured by this Security InstnunenC whether or not th� sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to $orrower that the
<br />Oppasing Party (as 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 cnllect and apply the Miscellaneous Proceeds either ta restoration ar repair of the Property or to the
<br />surns secured by this Security Instrument, whether or not then due. "Oppasing Party" rneans the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Barrower shall be in default if any action or proceeding, whether civil or crirninal, is begun that, in
<br />Lender's judgment, cauld 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 />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFQRM IN5TRUMENT
<br />�-B(NE) 108i il Page 9 of 15 Initials: � Form 3p28 9(01
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