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201103387
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any aff'�liate of any of the foregoing, may receive (dire�tly or indirerxly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agrcement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance. " Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agrced to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the nghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automaHcally, andlor to receive a
<br />refund of any Mortgage Insurance pc�iums that were unearned at the time of such cancellaHon or
<br />terminatioa.
<br />11. Assignment of Miscellaneous Procceds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds sha11 be appliefl to rest�ration or �pair of
<br />the Progerty, if the restoration or repair is e�onomically feasible and I.ender's security is not iessen�.
<br />During such repair and restoration period, I,ender shall have the right to hold such Miscellaneaus Proce�s
<br />unril Lender has had an opportunity to inspect such Property to ensure the work has been compieted to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Procee�s, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceecis. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Procceds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proce�ds shall be
<br />applied in the ord�r provided for in Secrion 2.
<br />In the evern of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Procee�s shall be appliefl to the sums s�urefl by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Bonower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Securiry Insmiment immediately before the partia.l
<br />taking, destruction, or loss in value, unless Bonower and Lender otherwise agre� in writing, the sums
<br />secured by this Security Instrument sha11 be reduced by the amount of the Miscellaneous Procee�s
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, d�struction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Azy balance shall be�aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of tlie Property in wluch the fair market
<br />value of the Properiy immefliately before the partial taking, destruction, or loss in value is l�ss than the
<br />a�urn of the sums secured immediately l�fore the paztial taking, destruction, or loss in value, unless
<br />Borrower and Lender othervvise agree in writing, the Miscellan�us Proceeds shall be appliefl to the sums
<br />secured by this Se�urity Instrument whether or not the sums aze then due.
<br />If the Progerty is abandoned by Borrower, or if, after notice by Lender to Bonower that the
<br />Opposing Pariy (as defined in the next sentence) offers to make an awazd to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, L.ender is authorized
<br />to collect and apply the Miscellan�us Procceds either to restoration or repair of the Property or to the
<br />sums secured by this Security Insixvment, whether or not then due. "Opposing Party" means the third party
<br />that owes Bonower Miscellaneous Procceds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any acrion or procceding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMEIVT
<br />�-6�NE) (oet i) Page 9 of 15 tr,hiais: Form 3028 1/07
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