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201�U348�
<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 immediately before We 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 and
<br />Lender otherwise agtee in writing, the sums secured by Wis 5ecurity Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair u�arket value of the Ptoperty immediately before the partial
<br />taking, destruction, or loss in value. Any balance sha11 be paid to Borrower.
<br />In the event of a partial ta.kin�, destruction, or lass in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in yalue is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or los� in value, unless Borrower and Lender otherwise agtee in vyriting, the
<br />Miscellaneous Proceeds shall be applied to the sums secured by this Securiry Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Bonower that the Opposing Party (as defined
<br />in the next sentence) offers to mal�e an award to settle a cla,im for damages, Bonower 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 Securiry Instrument, whether or not then due. "Opposing Party" means
<br />the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard
<br />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 Ptoperty or other material impairment of Lender's interest in the Property or rights under this
<br />Security �nstrument. Bonower can cure,such a,default .and, if acceleration has occurred, reinstate as provided in Section 19, by
<br />causing the action or proiceeding to be dismissed with, a ruling th�t, in Lender'S judg�ent, p�ecludes-.fo�f.ei�ure ,o� the ��[q�erty.
<br />or other material impairment of Lender's interest in the Properiy or rights under Wis Security Instrument. The proceeds of any
<br />award or claim for damages that are attributable to the impairment of Lender's interest in the Propeny are hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds Wat are not applied to restoration or repair of the Property sha11 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 />mod�cation of amortizaxion of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor
<br />in Interest of Bozrower shall not operate to release the liabiliry of Borrower or any Successors in Interest of Borrower. Lender
<br />shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Securiry Instrument by reason of any demand. made by
<br />the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any ripbt or remedy
<br />including, withoui limitation, Lender's acceptance of . payments fr.om third persons, entities or Successors. m Interest of
<br />Borrower or in 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 Llability; Co-signers; Successors and.Assigns Bound. Borrower covenants and agrees that
<br />Borrower's obligations and liabiliry sha11 be joint and several, However, any Bonower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Securiry Instrument only to mortgage, grant and convey the
<br />co-signer's interest in the Properly under the terms of this 5ecuri.ty Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Securiry 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 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 Bonower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />this Securiry Instrument. Borrower shall not be released from Borrower's obligations and liability under this 5ecuriry
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind
<br />(except as provided in Section 20) and bene�t the successors and assigns of Lender.
<br />14. Loan Charg�. Lender may charge Borrower fees for services performecl in connection with Bonower's default,
<br />for the purpose of protecting Lender's interest in the Propecty and rights under this 5ecuriry Instrument, including, but not
<br />limited to, attorneys' fees, properly inspection and valuation fees. In regazd to any other fees, the absence of express authority
<br />in this Securiry Instrument to charge a specif'ic fee to Borrower shall not be construed as a prohibition on the charging of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable La.w.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest
<br />or other loan charges collected or to be collected in connection with the Loan exceed the germiued limits, then: (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 without 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 Instn�ment must be in writing.
<br />Any notice to Borrower in connection with this Securiry Instrument shall be deemed to have been given to Borrower when
<br />mailed by first class mail or when actually delivered to Botrower'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. Bonower shall
<br />prompdy notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of
<br />address, then Borrower sha11 onl�+ report a change of address Wrough that specified procedure. There may be only one
<br />designated notice address under th�s Security Instrument at any one time. Any notice to Lender sha11 be given by delivering it
<br />or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to
<br />Borrower. Any notice in connection with this Securiry Instrument shall not be deemed to have been given to Lender until
<br />actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the
<br />Applicable La.w requirement will satisfy the corresponding requirement under this Securiry Instrument.
<br />g , ction. This Securiry Instrument shall be goyerned by federal law
<br />atrid' Che ia�vv of `f� jurusdictton w�c li' he P operty s Ib+cafeti. All� �ri�lits an�"bbC[g�C�bus c(ititained in this 'Security` In'strumenf
<br />are subject to any requirements and limitations of Applicable Law. Applicable La.w might explicitly or implicitly a11ow 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 Securiry Instrument or the Note conflicts with Applicable Law, such
<br />conflict shall not affect other pcovisions of this Security Instrument ot the Note which can be given effect without the
<br />conflicting provision.
<br />As used in this Securiry Instrument: (a) words of the masculine gender sha11 mean and include corresponding neuter
<br />words or words of the feminine gender; (b) words in the singular shall mea.n 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 o� �he Property or a Beneflcial Interest in Borrower. As used in this Sectioa 18, "Interest in the
<br />Property" meaas any legal or beneficial interest in the Property, including, but not limited to, those bene�cial interests
<br />transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
<br />transfer of tide by �onower at a future date to a purchaser.
<br />If all or any part of the Property or any Interest in the Property is sold br transferred (or if Borrower is not a natural
<br />person and a bene�cial interest in Borrower is sold or transferred) without Lender's prior wriuen consent, Lender may require
<br />immediate payment in full of all sums secured by this Securiry Instrument. However, this opdon shall not be exercised by
<br />Lender if such exercise is prohibited by Applicable Law.
<br />NEBRASKA—Single Family—Famde MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Bankers Syetema, Inc., St. Claid, MN Form MD-1-NE B117l2000 (page S of 7pagesj
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