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201102468
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediatety before the partial Caking, destruction, or loss iu value is equal Co or greater than the auiount of the sums
<br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Securiry Instrument shall be reduced by tl�e amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amounC of tl�e sums secured immediately before the
<br />partial taking, destruction, or loss iu value divided by (b) the fair market value of the Property immediately before tue partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in wl�ich the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by th�s 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 Leuder witl�in 30 days
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoratiou or
<br />repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means
<br />the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower l�as a right of action in regard
<br />to Miscellaneous Proceeds.
<br />Borrower shall be in default if auy action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Property or other material impairmeu[ of Leuder's interest in the Property or rights under this
<br />Security Instrument. Borrower 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 ruliug 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 tl�e impairment of Lender's interest in tl�e Property are hereby assigned and
<br />sl�all be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied iu the order
<br />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 Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender
<br />shall not be required to commence proceedings against any Successor in Iuterest of Borrower or to refuse to extend time for
<br />payment or otherwise modify atnortization of the sums secured by this Security Instrument by reason of any demaud made by
<br />the original Borrower or any Successors in Interest of Borrower. Any forbearance by Leuder in exercisiug any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of
<br />Borrower or in amounts less thau 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 covenauts and agrees that
<br />Borrower's obligations and liability sl�all be joint and several. However, any Borrower who co-signs tl�is Security Iustrument
<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 tertns of this Security Iustrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of tl�is Security Instrument or the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Barrower who assumes Borrower's obligations
<br />uuder this Security Instrument in writing, and is approved by Lender, sl�all obtain all of Borrower's rights and benefits under
<br />this Security I�strument. Borrower shall not be released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The coveuants aud agreements of this Securiry Instrument shall bind
<br />(except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default,
<br />for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not
<br />limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority
<br />iu tl�is Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the chargiug of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that tl�e interest
<br />or other loan charges collected ar to be collected in connection with tl�e Loan exceed the permitted limits, tl�en: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already
<br />collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this
<br />refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
<br />principal, the reduction will be treated as a partial prepayment witl�out any prepayment charge (whether or not a prepayment
<br />charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will
<br />constitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing.
<br />Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when
<br />mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one
<br />Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall
<br />be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall
<br />promptly notify Leuder of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of
<br />address, then Borrower shall only report a change of address through that specified procedure. There may be only one
<br />designated notice address under this Security Instrument at auy one time. Any notice to Lender shall be given by delivering it
<br />or by mailing it by first class mail to Lender's address stated I�erein unless Lender t�as designate@ another address by uotice to
<br />Borrower. Any notice in connection witt� this Security Instrument shall not be deemed to have been giveu to Lender uutil
<br />actually received by Lender. If any notice cequired by this Security Instrutnent is also required under Applicable Law, the
<br />Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument.
<br />16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law
<br />and tfie law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Ins[rument
<br />are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the
<br />parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by
<br />contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such
<br />conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the
<br />conflicting provisiou.
<br />As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter
<br />words or words of tl�e feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
<br />18. Transfer of the Property or a Bene6cial Interest in Borrower. As used in this Section 18, "Interest in the
<br />Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
<br />transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of wl�ich is the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural
<br />person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require
<br />itnmediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by
<br />Lender if such exercise is prohibited by Applicable Law.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Bankers Systems, Ine•, St. Cloud, MN Form MD-1-NE 8/17/2000 (page 5 of 7 pnges) �
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