201100494 - Laserfiche WebLink

Browse

2 0110 0 4� 4 451D20093 In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, dcstn�ction, or loss in value is less than the amount of thc sums secured immcdiately before the partial taking, destruction, or loss in valuc, unless Borrower and Lender othcrwise agree in writin�;, the Miscellaneous Proceeds sh�ll be applied to the sums sccurcd by this 5ecurity Instrument whcther or not thc sums arc then due. If the Property is abandoned by Borrower or if, aftcr noticc by Lender to Borrower that thc Opposing Party (as dcfincd in the next sentence) offcrs to makc an award to settle a claim fnr damages, F3orrower fails to respond to I.ender within 30 days after the date the noticc is givcn, Lendcr is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the suma secured by this Security Instrument, whether or not thcn due. "Opposing Party" means the third party that owes Borrower Miscellaneous Prnceeds or the party against whom I3arrower has a right of action in regard to Miscellaneous �'rocccds. Borrower shall be in default if nny action or procecding, whctl�cr civil or criminal, is bcgun that, in Lcndcr's _judgrnent, could result in forfeiture af the Property or other material impairmcnt of Lender's intcrest in the Property or rights under this Security �nstrument. E3orrower can cure such a dcfault and, if acceleration has occurred, reinstate as provided in 5ection 19, by causing the action or praceeding ta be dismissed with a ruling that, in Lendcr's judgmcnt, prccludcs forfciture of the Property ar other �naterial inipairmcnt vf l,endcr's intcrest in the Property pr rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairmcnt of I,cndcr's intcrest in thc Property arc hcrcby assigned ancl shall bc paid to Lcnder. All Miscellaneous Proceeds that are not applicd to restoration or repair of the Property shall be applied in thc ordcr providcd for in 5cction 2. 12, Bprrower Not Released; �orbeurance By Lender Not a Waiver. Extenaion of the time for payment or modification of amortization of the su►ns secured by this Security Tnstrument grantcd by Lender to Barrower or any Successor in Tnterest of Borrower sl�all not operate to rcicase the liability of Borrpwer or any Successors in interest of Borrower. Lendcr shall not bc rcquired to commcnce proceedin�;s against any Successor in Interest of f3orrower or to refuse to extend tin�e for payment or otherwise zi�odify amortization of thc sums sccured by this 5ecurity Instrument by reason of any demand made by the original 13orrowcr or any Succcssors in Interest of Borrower. Any forbearance by Lender 'rn exerc'rsing any right or rernedy including, without limitation, Lendcr's acceptance of payments from third persons, entities or Successors in Interest pf Borrower or in amounts less than the amount then due, shall not be a waivcr of or prccludc thc cxcrcisc of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and a�rees that Borrower's obligations and liability shall be joint and several. 1-Iowevcr, any Borrower who co-signs this Sccurity Instrument btrC does not execute thc Note (a "co-signcr"): (a) is co-signing this Security Inatrument only to mortgage, grant and convey the co-signer's interest in the Froperty under the terms of this Security Instrumcnt; (b) is not personally obligated to pay the sums secured by this Security Instriunent; and (c) agrces that Lcndcr and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the tern�s of this Security Instrument or the Notc without the co-signcr's conscnt. Subject to the provisions of Section 1 R, any Succcssor in Interest of Borrower who assumes Borrower's obligations under this Security instrument in writing, and is approved by Lcndcr, shall obtain all of Borrower's rights and bcncfits undcr this Security Tnstrument. Borrower shall not be released from Bnrrower's obligations and liability under this Security Instn�ment unless Lender agrees to such release in writing. The covcnants and agrcements of this Sccurity Instrument shall b'tnd (exccpt as providcd in Section 20) and benefit the successors and assigns of Lender. 14. Loan Char�es. Lender may charge f3orrowcr fccs for services performed in connection with Borrower's default, for the purpose of protecting Lcndcr's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other f'ees, the absence of express authority in this Security Instrument ta charge a specific fec tv �3orrowcr shall not be construed as a prohibition on the charging of such fee. Lender may not chargc fees that arc cxpressly prohibited by this Security instrun�em or by Applicable I.�w. If the Loan is subject to a law which sets maxin�u�n loan chargcs, and that law is finally interprcted so that thc interest or other loan charges collected or to bc collccted in connection with the Loan exceed the pern�itted linlits, then: (a) 1ny such loan charge shall be reduced by the amount necessary to reducc the charge to the permittcd limit; and (b) any sums already collcctcd from Borrowcr which cxcecded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owe�i undcr the Note or by making a direct payment tp Bprrower. if a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment char�e (whether or not a prepayment charge is provided for under the Note). Borrower's acceptancc of any such rcfund made by direct payment to Borrower will constit�rtc a waivcr of any right of action Borrower might have arising out of such overcharge. NEBRASKA--Single Family--Fannie Mae/Preddie Mac UNIFORM INSTRUMENT � 338.2 Pagc 8 oF 13 Form 3028 1/Ol � 3 �