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201iO410i
<br />In the event of a partial taking, destruction, or loss in value of the Properly in wluch the fair market valne of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the swms
<br />secured by this Securiry Instrument immediately before Lhe partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, We sums secured by this Secuniry Instnunent sha11 be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fracCion: (a) the total amount of the sums secured immediaiely before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Properiy immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<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 ta.king, destruction, or loss in valae is less than the amount of the sums secured
<br />imuiediately before the partial ta.king, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, 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 Borrower that the Opposing Party (as de�ned
<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 Security Instrument, whether or not then due. "Opposing Party" means
<br />the tliird party that owes Borrower Miscellaneous Proceeds or the party against whom Bortower has a right of action in tegard
<br />to Miscellaneous Proceeds.
<br />Borrower shall be in default : if any action or proceeding, whether civil or crimiaal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Properly or other material impairment of Lender's intetest in the Property or rights under this
<br />Securily Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in 5ection 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property
<br />or other material impairment of Lender's inCerest in the Property or rights under this 5ecurity Instrument. The proceeds of any
<br />award or claim for damages that are attributable to the unparrment of Lender's interest in the Property are hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall he 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 />modification of a.mortization of the sums secured by this 5ecurity Instrument granted by I,ender to Borrower or any Successor
<br />in Interest of Borrower sha11 not operate to release the liabiliry of Borrower or any Successors in Interest of Borrower. Lender
<br />sha11 not be required to commence proceedings against any Successor in Interest of Bonower or to refuse to extend time for
<br />payment or otherwise modify amortization of the sums secuted by this Security Instrument by reason of any demand made by
<br />the original Borrower or any 5uccessors in Tnterest of Borrower. Any forbearance by Lender in exercising any ripht or remedy
<br />including, without limitation, Lender's acceptance of. payments from third persons, entities or Successors m Interest of
<br />Borrower or in amounts less than the amount then due, sha11 not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and 5everal Liability; Co-signers; Successors and Assigns Bound. Bonower covena.nts and agrees that
<br />Borrower's obligaxions and liability shall be joint and several. However, any Borrower who co-signs this Secariry Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instcvment only to mortgage, gtanC and convey the
<br />co-signer's interest in the Property under the terms of this Security Instru,ment; (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, mariify, fotbear ot
<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 Borrower's obligations
<br />under this Securiry Insttument in writing, and is approved by Lender, shall ohtain all of Borrower's rights and benefits under
<br />this Security Instrument. Borrower sha11 not be released fram Borrower's obligations and liabiliry under this Security
<br />Instrwnent unless Lender agrees to snch release in writing. The covenauts and agreements af this Securiry Instrument shall bind
<br />(except as provided ia Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services perfarmed in conne.cCion with Borrower's default,
<br />for the purpose of protecting Lender's interesC in the Properly 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 Security Instrument to charge a specif'ic fee to Borrower sha11 not be canstrued as a prohibition on the charging of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Securiry Instrument or by Applicable Law.
<br />If the Loan is snbject to a law which sets maxiunum loan charges, and that law is �na11y interpreted so that the interest
<br />or other loan charges collected or to be coll�ted in connection with the Loan exceed the permitted limits, then: (a) any such
<br />loan charge shall be reduced by the amount necessary to reduce the charge to the �rmitted 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 payinent to Bonower. 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 d'uect payment to Bonower 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 Secnriry Instrument must be in writing.
<br />Any notice to Bonower in connection with this Security Instrument sha11 be deemed to have been given ta Borrower when
<br />imailed by first class ma.il or when actually delivered to Borrower's natice 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 sha11
<br />be the Property Address unless Borrower has designated a snbstitute natice addtess by notice to Lender. Bonower shall
<br />prompdy notify Lender of Borrower's change of address. If Lender specif'ies a procedure for reporting Borrowec's chaage of
<br />addzess, then Borrower sha11 onl� report a change of address through that specified procedure. There may be only one
<br />designated notice address under thts Security Instrument at any one time. Arry notice to Lender shall be given by delivenng it
<br />or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address hy notice to
<br />Borrower. Any notice in connection with this Security Instrument sha11 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 L,aw requirement will satisfy the cotresponding requirement under this 5ecurity Instrument.
<br />16. Governin� Law; 5everability; Rul� of Construct�on. This Security Iastrument shall be governed by federal law
<br />and the 1aw of the junsdictron in which the Property is located. All rights and obligations contained in this 5ecurity Instrument
<br />are subject to any requirements and limitations of Applica.ble Law. Applicable Law might explicitly or implicitly allow 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 Security Instrument or the Note conflicts with Applicable Law, snch
<br />conflict shall not affect other provisions of this Securiry Instrument or the Note which can be given effect without the
<br />coaflicting provision.
<br />As used in this Securiry Instrument: (a) words of the masculine gender shall mean and include conesponding 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 take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this 5ecurity Instrument.
<br />18. Transfer of the Property or a Beneflcial Interest in Borrower. As used in this 5ection 18, "Interest in the
<br />Property" mea.ns any legal or beneficial interest in the Property, including, but not limited to, those bene�cial interests
<br />transfened in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />If a11 or any �art of the Property or any Interest in the Property is sold or transfened (or if Borrower is not a natural
<br />person and a benefictal interest in Borrower is sold or transferred) without Lender's prior written consent, Lender ma.y require
<br />immediate payment in full of all sums secured by this Security Instrument. However, this option shall not he exetcised by
<br />Lender if such exercise is prohibited by Applicable La.w.
<br />NEBRASKA—Single Family—Famde Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Benkers Systems, lnc., St. Cloud, MIV Form MD-1-NE 8l17/2000
<br />(IxiBe S of �vIIB�)
<br />Form 3028 1/01
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