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201102844 <br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and <br />shall be paid to Lender. <br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the <br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration <br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect <br />such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be <br />undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress <br />payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be <br />paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such <br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, <br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, <br />with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in <br />Section 2. <br />In 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 ta.king, destruction, or loss in value of the Property in which the fair market value of the Properly <br />immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums <br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower <br />and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of <br />the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately <br />before the partial taking, destntction, or loss in value divided by (b) the fair market value of the Property immediately <br />before the partial ta.king, 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 which the fair market value of the Property <br />immediately before the partial 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 <br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are <br />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 <br />30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to <br />restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing <br />Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Bonower has a right <br />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 judgment, <br />could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under <br />this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in <br />Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes <br />forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security <br />Instrument. The proceeds of any award or claim for damages that are attributable to the impairtnent of Lender's interest <br />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 Properly shall be applied in 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 <br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of <br />HCFG-00359 <br />NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT <br />VMP� <br />Wolters Kluwer Financial Servicas 201104084.0.0.0.4002-J20100902Y <br />Form 3028 1/Ot <br />Page 8 of 13 <br />6 11 15' <br />� <br />