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201103531
<br />Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section
<br />10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance rsimburses Lender (or any entity that purchases the Note) for certain losses it may incur
<br />if Bonower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers ev�.luate their total risk on a11 such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
<br />conditions that aze satisfactozy to the mortgage insurer and the other party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other
<br />entity, or any aff'�liate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might
<br />be characterized as) a porti�n of Bonower's payments for Mortgage Insurance, in exchange for sharing or modifying
<br />the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share
<br />of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed
<br />"captive reinsurance:" Further:
<br />(a) Any such agree�nents will not affect the amounts that Borrower has agr�d to pay for Mortgage
<br />Insurance, or any olther terms of the Loan. Such agreements will not increase the amount Borrower will owe
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not aff�t the rights Borrower has - if any - with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rlghts may include the right
<br />to receive certain disclostu�es, to request and obtain cancellation of the Mortgage Insurance, to have the
<br />Mortgage Insurance termiunated automaHcally, and/or to receive a refund of any Mortgage Insurance premiums
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment of 11',Iiscellaneous Proceeds; Forfeiture. All Miscellaneous Procceds aze hereby assigned to
<br />and sha11 be paid to Lender.
<br />If the Properly is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Properly,
<br />if the restoration or repair as economically feasible and Lender's security is not lessened. During such repair and
<br />restoration period, Lender, sha11 have the right to hold such Miscellaneous Proceeds until Lender has had an
<br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection sha11'be und'ertaken promptly. Lender may pay for the repairs and restoration in a single disbursement
<br />or in a series of progress p�,yments as the work is completed. Unless an agreement is made in writing or Applicable
<br />Law requires interest to be �aid on such Miscellaneous Proceeds, Lender sha11 not be required to pay Borrower any
<br />interest or earnings on suc1� Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
<br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this 5ecurity
<br />Instnunent, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall
<br />be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds sha11 be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Bonower.
<br />In the event of a parti'al taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br />of the sums secured by this S�urity Instrument immediately before the partial taking, destruction, or loss in value,
<br />unless Borrower and �,ender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced
<br />by the amount of the Miscellan�us Proceeds multiplied by the following fraction: (a) the total amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value. Any balance sha11 be paid to Borrower.
<br />In the event of a part�al taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Properly immediately biefore the partial taking, destruction, or loss in value is less than the amount of the sums
<br />secured immediately beforE the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous Proceeds sha11 be applied to the sums secured by this Security Instrument whether
<br />or not the sums are then due.
<br />If the Property is abandoned by Bonower, or if, after notice by Lender to Bonower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to
<br />Lender within 30 days aftex the date the notice is given, Lender is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether
<br />or not then due. "Opposinjg Pariy" means the third party that owes Bonower Miscellaneous Proceeds or the party
<br />against whom Bonower ha� a right of action in regazd to Miscellaneous Proceeds.
<br />Borrower shall be in flefault if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impa.irment of Lender's interest in the Property
<br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
<br />judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or
<br />rights under this 5ecurity 1'nstrument. The proceeds of any award or claim for damages that are attributable to the
<br />impairtnent of Lender's interest in the Property aze hereby assigned and sha11 be paid to Lender.
<br />All Miscellanebus Prpceeds that are not applied to restoration or repair of the Properly shall be applied in the
<br />order provided for in Sectipn 2.
<br />12. Borrower'Not R'eleased; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortizatidn of the sums secured by this 5ecurity Instniment granted by Lender to Borrower or any
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT pp�p�s�/� �
<br />Form 3028 1/01 ' Page 6 of 11 www.docmaglc.com
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<br />Ne3028.dot.�1
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