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�0��04252 If the Properly is abandoned by Borrower, or if, after notice by Lender to Bonower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender ts authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Properly or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Bonower Miscellaneous Proceeds or the party against whom Bonower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in I.ender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the F'roperty or rights under this Security Instrument. Borrower can cure such a defautt and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceed'vng to be dismissed tvith a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of I,ender's interest in the Property or rights nnder this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proce�s that aze not applied to restoration or repair of the Property sha11 be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tizne for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in. Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. L,ender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the atnount then due, shall not be a waiver of or pre,clude the exercise of any right or remedy. 13. Joint and Several Liability; Casigners; Successors and Assigns Bound. Bonower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs tlus Se,curity Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instruinent only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this S�urity Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make auy accommodations with regazd to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Secrion 18, any Successor in Interest of Borrower who assumes Bonower's obligations under this Security Instrument in writing, and is approved by Lender; shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower sha11 not be released from Borrower's obligations and liability under this Security Instnunent unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument sha11 bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Bonower fees for services performed in connection with Bonower's default, for the purpose of prot�ting L.ender's interest in the Property and rights under this Security Instruutent, including, but not limited to, attorneys' fees, property inspe,ction and valuation fees: In regard to any other fees, the absence of express authoriry in tlus Security Instrument to charge a speci�c fee to Borrower sha11 not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permit�ed limits, then: (a) any such loan chazge shall be reduced by the amount necessary to reduce the charge to the pernutted limit; and (b) any sums already collected from Bonower which exceeded permitt� limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower, If a refund reduces principal, the reduction will be treated as a�artial prepayment without any prepayment eharge (whether or not a prepayment charge is provided for under the Note). Bonower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Inslrament must be in writing. Any notice to Borrower in connection with this Securiry Instrument sha11 be deemed to have been givan to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address sha11 be the Properiy Address unless Borrower has designated a substitute notice address by notice to Lender.: Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Bonower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Securiry Instrunnent at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be de.emed to have been given to Lender until actually re.ceived by Lender. If any notice required by this Security Instnunent is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument sha11 be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might NEBRASKA--Single Fa ily--Fannie reddie Mac UNIFORM INSTRUMENT - MERS p��y�� Form 3028 1/07 Page 7 of 11 wWw,docmaqic.com Ne3028.mzd.xml