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2O1iQ0631 <br />Lender providing for such ternunation or until ternunation is required by Applicable Law. Nothing in this Section <br />10 affects Borrower's obligation to pay interest at the rate provided in the Note. <br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur <br />if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. <br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into <br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and <br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These <br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer <br />may have available (which may include funds obtained from Mortgage Insurance premiums). <br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other <br />entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might <br />be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying <br />the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share <br />of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed <br />"captive reinsurance. " Further: <br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage <br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe <br />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 Mortgage <br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right <br />to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the <br />Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums <br />that were unearned at the time of such cancellation or termination. <br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to <br />and shall be paid to Lender. <br />If the Property is damaged, such Miscellaneous Proceeds sha11 be applied to restoration or repair of the Property, <br />if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and <br />restoration period, Lender sha11 have the right to hold such Miscellaneous Proceeds until Lender has had an <br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that <br />such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement <br />or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable <br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any <br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or <br />Lender's security would be lessened, the Miscellaneous Proceeds sha11 be applied to the sums secured by this Security <br />Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall <br />be applied in the order provided for in Section 2. <br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be <br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to <br />Borrower. <br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of <br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount <br />of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, <br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument sha11 be reduced <br />by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums <br />secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the <br />Property immediately before the partial taking, destruction, or loss in value. Any balance sha11 be paid to Borrower. <br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of <br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums <br />secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise <br />agree in writing, the Miscellaneous Proceeds sha11 be applied to the suxns secured by this Security Instrument whether <br />or not the sums are then due. <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as <br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to <br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous <br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether <br />or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party <br />against whom Borrower has a right of action in regard to Miscellaneous Proceeds. <br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's <br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property <br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate <br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's <br />judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or <br />rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the <br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. <br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the <br />order provided for in Section 2. <br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or <br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any <br />NEBRA A--Singl Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagic � soo-sas-�sez <br />Form 3028 1/01 Page 6 of 1 1 www.docmagic.com <br />Ne3028.dot.unl <br />