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20�104271
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt ofBonower secured by
<br />this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall
<br />be payable, with such interest, upon notice from Lender to Borrower requestin� }sayment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply wrth all the provisions ofthe lease. If
<br />Bonower acc�uires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the
<br />merger in wrrtmg.
<br />10. Mortgage Insurance. IfLender required Mortgage Insurance as a condition ofmaking the Loan,
<br />Bonower shall pay the premiums required to maintain the Mortgage Insurance in effec�t. I� for any reason, the
<br />Mortgage Insurance coverage required by Iznder ceases to be available from the mortgage insurer that previously
<br />provided such insurance and Borrower was required to make separately designated payments toward the premiums
<br />for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantiallyequivalent to the
<br />Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Bonower of the Mortgage
<br />Insurance previously in effect, from an alternate mortgage insurer selected by I.ender. If substantially equivalent
<br />Mortgage Insurance coverage is not available, Borrower shall continue to pay to Iznder the amount ofthe separately
<br />designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and
<br />retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-
<br />refundable, notwithstanding the f�ct that the Loan is ultimately paid m full, and Lender shall not be required to pay
<br />Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if
<br />Mortgage Insurance coverage (in the amount and for the period that Lender requ�res) provided by an insurer selected
<br />by Lender again becomes available, is obtained, and Lender requires separately des�gnated payments toward the
<br />premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condrtion of making the Loan and
<br />Bonower was required to make separately designated payments towazd the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to mainta�n Mortgage Insurance in effect, or to provide a non-refundable
<br />loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement
<br />between Bonower and Lender providing for such termination or until termination is required by Applicable Law.
<br />Nothing in this Section 10 affects Bonower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entriy that purchases the Note) for certain losses it may incur
<br />if Bonower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter
<br />into ageements wrth other parties that share or modify their risk, or reduce losses. Theseagreements are on terms
<br />and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result ofthese agreements, Lender, any purchaser ofthe note, another msurer, any reinsurer, a�other
<br />entity, or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or mi�ht be
<br />characterized as) a porhon ofBorrower's payments for Mortgage Insurance, m exchange for sharing or modifying tlie
<br />mortga�e insurer's nsk, or reducing losses. If such agreement provided that an affiliate ofLender takes a share ofthe
<br />insurer s risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive
<br />reinsurance: ' Further:
<br />(a) Any such agreements will not af�ect the amounts that Borrower has agreed to pay forMortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount BorrowerwiIl owe
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has — if any — with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may
<br />include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance,
<br />to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage
<br />Insurance premiums that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds aze hereby
<br />assigned to and shall be paid to Lender.
<br />If the Properiy is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br />Property, ifthe restorat�on or repair is economically feasible and Lender's secun is not lessened. Daring such repair
<br />and restoration period, Lender shall have the right to hold such Miscellaneous�roceeds until Lender has had an
<br />opportunity to inspect such Properiy to ensure the work has been completed to Lender's satisfaction, provided that
<br />such inspection sha11 be undertaken promptly. Lender may pay for the repairs and restoration m a sin�le
<br />disbursement or in a series ofprogess payments as the work is completed. Unless an agreement is made in writmg
<br />or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, I.ender shall not be required to pay
<br />Borrower any interest or earnings on such Miscellaneous Proceeds. Ifthe restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to tfie sums secured by
<br />this Security Instrument, whether or not then due, with the excess, if any, paid to Bonower. Such Miscellaneous
<br />Proceeds shall be applied in the order provided for in Section 2.
<br />In the event ofa total taking, destruction, or loss in value ofthe Property, the Miscellaneous Proceeds shall
<br />be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event ofa partial taking, destruction, or loss in value ofthe Properiy in which the fair mazketvalue of
<br />the Property immediately before the partial takin�, destruction, or loss in value is ec�ual to or greater than the amount
<br />of the sums secured by this Security Instrument unmediately before the partial tak�ng, destruction, or loss in value,
<br />unless Bonower and Lender otherwise agree in writing, the sums secured by this Security Insmiment shall be
<br />reduced by the amount ofthe Miscellaneous Proceeds multiplied by the following fraction: (a) the total amouc►t ofthe
<br />sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair mazket value
<br />of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums
<br />secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous Proceeds shall be applied to tlie sums secured bythis SecurityInsirumentwhether
<br />or not the sums are then due.
<br />If the Property is abandoned by Borrower, or i� after notice by I.ender to Borrower that the Opposing Party
<br />(as defined in the next sentence) offers to make an awazd to settle a claim for damages, Bonower fails to respond to
<br />I.ender within 30 days after the date the notice is given, Lznder is authorized to collect and apply the Miscellaneous
<br />Proceeds either to restora.tion or repair ofthe Property or to the sums secured bythis Security Instrument, whether or
<br />not then due. "Opposing Party" means the third party that owes Bonower Miscellaneous Proceeds or the party
<br />against whom Bonower has a right of action in regazd to Miscellaneous Proceeds.
<br />Bonower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgnent, could result in forfeiture ofthe Property or other material impanment ofLender's interest in the Propetty
<br />NEBRASKA—Single Family—Fannie Mae/Freddfe Mac UNIFORM INSTRiJMENT Modified Form 3028 1/Ol (page S of 8 pages)
<br />22050.CV (9/09) 03-1174 Creative Thinldng, Inc.
<br />GOTO(0027fZ9d)
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