201101620
<br />by this Security Instrument, whether or not then due, with the excess, if any, paid ta Borrower. Such Miscellaneous Proceeds
<br />shall be applied in the order provided for in Section 2.
<br />ln the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to
<br />the sums secured by this Security Instrument, whether or not then due, with the excess, if any, 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 the Property
<br />immediately before the partial taking, destruction, ar loss in value is equal to or greater than the amount of the sums secured
<br />by this Security Instrument immediately before the partial taking, destruction, ar loss in value, unless Borrower and Lender
<br />otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous
<br />Proceeds multipiied by the following fraction: (a) the total amount of the sums secured immediately befare the partial taking,
<br />destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial talcing, destruction,
<br />or loss in value. Any balance shall be paid to Borrower.
<br />ln the event of a partial taking destruction, or loss in value of the Property in which the fair market value of the Property
<br />immediately before the partiai taking destruction, or loss in value is less than the amount of the sums secured immediately
<br />before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument whether 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 defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the
<br />third party that owes Barrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to
<br />Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Property ar other material impairment of Lender's interest in the Property or rights under this
<br />Security lnstrument. Bonower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property
<br />or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any
<br />award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and
<br />shail be paid to Lender.
<br />Atl Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided
<br />for in Section 2.
<br />12. Borrower Not Released; Forbearance By Le�der Not a Waiver. Extension of the time for payment or modification
<br />of amortization of the sums secured by this Security lnstrument granted by Lender to Borrower or any Successor in Interest of
<br />Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be
<br />required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or
<br />otherwise modify amortization of the sums secured by this Security lnstrument by reason of any demand made by th� original
<br />Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including,
<br />without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that
<br />Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the
<br />co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other E3orrower can agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations undex
<br />this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this
<br />Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument
<br />unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as
<br />provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Bonower fees for services performed in cannection with Borrower's default, for
<br />the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited
<br />to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this
<br />NEBRASKA—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/Ol
<br />NEBRASKA•MERS Great�ocs�
<br />ITEM 2698L8 (101909) (Page 8 of 13)
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