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201103618
<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 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 and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument sha11 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 market value of the Property immediately before the partial
<br />taking, destruction, or (oss in va(ue. Any balance shall be paid to Borrower.
<br />In the event of a partial ta.king, destruction, or loss in value of the Properly in which the fair market value of the
<br />Propearty immed'rately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately t�fore the partial taking, destruction, or loss in value, uniess Bonower and Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds sha11 be applied to the sums secured by this Securiry Instrument whether or not the sums are then due.
<br />If the Properiy 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 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 Instniment, 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 forfeitute of the Properiy or other material impairment of Lender's interest in the Property or rights under this
<br />5ecurity Instrument,r Borrower can cure such a default and, if acceleration has occurred, reinstatee as provided in Section 19, by
<br />causing the action or proeeeding to be dismissed with a tuling thax, in�Lender's judgnnent, pCe�tudes forfeiture_o�;the,Ptoperty
<br />or other material impairment of Lender's interest in the Property or rights under this Security Instnunent. The proceeds of any
<br />award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and
<br />sha11 be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property 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 />modif'ication of amortization of the sums secured by this Securiry Instnunent granted by Lender to Borrower or any Successor
<br />in Interest of Borrower sha11 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 5uccessor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify a.mortization of the sums secured by this Security Instn�ment 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 right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, enddes or Successors in 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 Liability; Co-signers; Successors and Assigns Bound. Bonower covenants and agrees that
<br />Borrower's obligations and tiabiliry shall be joint and several. However, any Borrower who co-signs this Securiry Instrument
<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 terms of this Securiry Instrument; (b) is not persona.11y obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees Wat 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 5uccessor 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 Bonower's rights and benefits under
<br />this Security Instrument. Borrower sha11 not be released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instniment shall bind
<br />(except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. I.oan Charg�. Lender may charge Borcower 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 Securiry 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 />in this 5ecurity Instn�ment 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 Securiry Instrument oc by Applicable Law.
<br />If the Loan is subject to a law which sets maximwm 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 permiued limits, then: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the permiued 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 paymeut 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). Botrower'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 Securiry Instrument sha11 be deemed to have been given to Borrower when
<br />mailed by �rst 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 Bonowers 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 sha11
<br />promptly notify Lender of Borrower's cha.nge of address. If Lender specifies a procedure for reporting Borrower's change of
<br />address, then Borrower sha11 only report a change of address through that specified procedure. There may be only one
<br />designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it
<br />or by mailing it by �rst 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 Securiry Instrument is also required under Applicable Law, the
<br />Applicable La.w requirement will satisfy the corresponding requirement under this Security Instn�ment.
<br />16. Governin� Law; Severability; Rules of Construction. This Securiry Instrument shall be govemed by federal law
<br />and tfie 1�Vv of"fbe jurisdicfion in wlrich'thie Proper[y'is 1ii�a�ed: �ri'rig�i�s a�d' obiig�ttb�s co�ine� in this S�curitp h�strumeilt
<br />are subject to any requirements and limitations of Applicable Law. Applicable L,aw 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 agreemeut by
<br />contract. In the event that any provision or clause of this Secur'rty 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 provision.
<br />As used in this 5ecuriry Instrument: (a) words of the mascutine gender shall mean and include corresponding neuter
<br />words or words of the 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 tal�e any action.
<br />17. Borrower's Copy. Bonower shall be given one copy of the Note and of this Security Instrument.
<br />18. Transfer of the Properly or a Bene6cisl Interest in Borrower. As used in this 5ection 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 which is the
<br />transfet 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 bene�cial interest in Bonower is sold or transferred) without Lender's prior written consent, Lender may require
<br />immediate payment in full of all sums secured by this Security Instrument. However, this option sha11 not be exercised by
<br />Lender if such exercise is prohibited by Applicable Law.
<br />IdEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/07
<br />Bankers Syetems, Ir�., St. Cloud, MN Form MD-t-NE 8117/2000 (page 5 of 7 pages)
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