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201104270 insurance and Borrower was reyuired to make separately designated payments toward the premiums for Mortgage Insurance, Bonower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Bonower of the Mortgage Insurance prev�ously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shal l continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. I.ender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstandmg the fact that the Loan is ultimately paid in full, and Lender sha11 not be rec�uired to pay Bonower any interest or eamings on such loss reserve. Lender can no longer require loss reserve payments �f Mort�age Insurance coverage(in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately desi�nated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condtt�on ofmak�ng the Loan and Borrower was required to make separately designated payments towazd the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintam Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Bonower and Lender providing for such termmation or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Bonower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements aze on terms and conditions that are satisfactory to the mortgage insurer and the other pariy (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result ofthese a�reements, Lender, any purchaser ofthe note, another insurer, any reinsurer, any other entity, or affiliate of any of the foregomg, may receive (directly or indirectly) amounts that derive from �or might be characterized as) a portion ofBonower's payments for Mortgage Insurance, in excfiange for sharing or modifymg the mortga�e insurer's risk, or reducing losses. Ifsuch agreement provided that an a�liate afLender takes a shaze ofthe insurer's risk m exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. 5uch agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has — if any — with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are herebyassigned to and shall be paid to Lender. Ifthe Properiy is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if the restoration or repau is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportumty to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restora.tion in a single disbursement or in a series of progess payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, I.ender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. Ifthe restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Bonower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Properly immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount ofthe sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fracrion: (a) the total amount ofthe sums secured immediatelybefore the partial taking, destruction, or loss in value divided by (b) the fair market value ofthe Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Bonower. In the event ofa partial taking, destruction, or loss in value ofthe Property in which the fair market value ofthe Properly immediately before the �artial takin�, destruction, or loss in value is less than the amount of the sums secured immed�ately before the partial takmg, destruction, or loss in value, unless Bonower and Iznder otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums aze then due. If the Properiy is abandoned by Bonower, or i� after notice by Lender to Borrower 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 is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Part}�' means the third party that owes Bonower Miscellaneous Proceeds or the parly against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Bonower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgm ent, could result in forfeiture ofthe Property or other material impairment ofLender's interest in the Propertyor rights un d e r this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided m Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's jud�ment, �recludes forfeiture ofthe Property or other material impairment of Lender's interest in the Property or rights under tlus SecuntyInstrument The proceeds of any award or claim for damages that are attributable to the impaument of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair ofthe Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization ofthe sums secured by this Security Instrument granted byLender 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. Lender shall not be required to commence proceedings against any Successor in Interest ofBonower or to refuse to extend time for payment or otherwise modify amortization ofthe sums secured by this Security Instrument by reason ofanydemand made bythe original Bonower or an�+Successors in Interest ofBonower. Any forbearance byI�ender in exercising anyright or remedy including, without limrtation, Lender's acceptance of payments from third persons, entities or Successors m Interest of 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. NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRiJMENT 12439.CV (1/08) 03 (MERS) Form 3028 1/Ol (page 5 of 8 pagesJ CreaHve Thinlang, Inc. GOTO(00258eb8)