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201iO4009
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any �liate of any of the foregoing, may receive (dir�tly or indirectly) 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 agreement
<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 agrcements wiU not affect the amounts that Borrower has agreed 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 the� will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the r►ghts 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 righ� to receive certain disclosur�s, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of MisceIIaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellan�us Proceeds sha11 be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and I.ender's security is not Iessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellan�us Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has bcen completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken pmmptly. Lender may pay for the
<br />repairs and restoration in a single disbursement oz in a series of progress payments as the work is
<br />completed. Unless an agr�ment is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration ar repair is not economically feasible or Lender's secwrity would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Se�urity Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellan�us Proceeds shall be
<br />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
<br />Proceeds shall he applied to the sums s�ured by this 5ecurity Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in vaiue of the Progerty 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 Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Bonower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the aznount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value dividefl by (b) the fair market value of the Property
<br />imtnediately before the partial taking, destruction, or loss in value. Anny balance shall be �aid to Borrower.
<br />In the event of a partiai taking, destruction, or loss in value of the Property in wluch the fair market
<br />value of the Property immediately h�fore the partial taking, destruction, or loss in value is less than the
<br />amount of the sums s�ured immediately before ttie partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agre� in writing, the Miscellan�us I'rer,ee�s shall be appli� to the sums
<br />secured by this Security Instrument whether or not the sums are then due. �
<br />If the Property is abandon� by Bonower, or if, after notice by Lender to Bonower that the
<br />Opposing Party (as defined in the next sentence) offers to make an awazd to settle a claim for damages,
<br />Bonower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to coll�t and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the thixd party
<br />that owes Bonrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regazd to Miscellaneous Procseds.
<br />Bonower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other nnaterial 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 INSTRUMEIYT
<br />�-6(NE) tosi it Page 9 of t5 �n�ttais: Form 3028 1l01
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