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201�0449�
<br />In the event of a partial ta.king, destruction, or loss in value of the Properly in which the fair market value of the
<br />Pro�riy immediately before the partial taking, destruction, or loss in value is equal to ot greater than the amount of the sums
<br />secured by this Securiry Iastrument immediately before the partial ta.king, destruction, or loss in value, ualess Borrower and
<br />Lender otherwise agree in writing, the sums secured by this 5ecurity Instrument sha11 be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Properly 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 takin�, destruction, or loss in value of the Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Bonower and Lender otherwise agree in writing, the
<br />Miscellaneous Proceeds sha11 be applied to the sums secured by this 5ecurity 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 defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Bonower 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 Securiry Instrument, whether or not then due. "Opposing Party" means
<br />the tlurd party that owes Borrower Miscellaneous Proceeds or the party againsf whom Borrower has a right of action in regard
<br />to Miscellaneous Proceeds.
<br />Borrower sha11 be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Properly or other material impairment of Lender's interest in the Property or rights under this
<br />Security Instrument. Botrower can cure such a default and, if acceleration has occuned, reinstate as provided in Section 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes focfeiture of the Property
<br />or other material impairment of Lender's interest in the Ptoperty or rights under this 5ecutity Instrument. The proceeds of any
<br />award or claim for damages that a.re attributable to the impairment 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 sha11 be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a VYaiver. Extension of the time for payment or
<br />modif'ication of amortization of the sums secured by this Security Instrument granted by Lender to Bonower or any 5uccessor
<br />in Interest of Borrower sha11 not operaxe to release the lia.bility of Borrower or any Successors in Interest of Borrower. Lender
<br />sha11 not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify amortiza.tion of the sums secured by this Securiry Instrument by reason of any demand made by
<br />the original Borrower or any 5uccessors in Interest of Bonower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of
<br />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.
<br />13. Joint and Several Liability; Co-signers; 5uccessors and Assigns Bound. Bonower covena.nts and agrees that
<br />Borrower's obligations and lia.biliry shall be joint and several. However, any Borrower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the
<br />co-signer's interest in the Property uuder the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Securiry Instrument; and (c) agrees that Lender and any other Bonower can agree to extend, modify, forbear or
<br />ma.ke 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 Bonower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, sha11 obtain all of Bonower's rights and benefits under
<br />this Security Instrwnent. Borrower sha11 not be released from Borrower's obligations and lia.bility under this Security
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind
<br />(except as provided in Section 20) and bene�t the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Bonower's default,
<br />for the purpose of protecting Lender's interest in the Property and rights under this Security Instnunent, including, but not
<br />limited to, attorneys' fees, properly inspection and valuation fees. In regard to any other fees, the absence of express authority
<br />in this Securiry Instrument to charge a specif'ic fee to Bonower sha11 not be construed as a prohibition on the charging of such
<br />fee. Lender may not charge fees that are expressly prolubited by this Securiry Instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest
<br />or other loan charges collected or to be collected 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 permitted 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 payment to Borrower. 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 direct payment to Bonower will
<br />coastitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />15. Notices. All notices given by Bonower or Lender in connection with this Security Instrument must be in writing.
<br />Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when
<br />mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one
<br />Bonower shall constitute notice to all Bonowers unless Applicable La.w expressly requires otherwise. The notice addtess shall
<br />be the Progerly Address unless Borrower has designated a substitute notice addtess by notice to Lendet. Borrowet sha11
<br />prompdy notify Lender of Borrower's change of address. If Lender specif'ies a procedure for reporting Borrower's change of
<br />address, then Bonower shall onl�+ report a change of address through that specif'ied procedure. There may be only one
<br />designatecl notice address under th�s Security Instrument at any one time. Any notice to Lender shall be given by delivering it
<br />or by ma.iling it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to
<br />Borrower. Any notice in connection with this Security Instrument shall 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 La.w, the
<br />Applicable I,aw requirement will satisfy the corres�nding requirement under this Security Instrument.
<br />16. Governing Law; Severability; Rules of Construci3on. This Security Instrument shall be governed by federal law
<br />and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument
<br />are subject to any requirements and limitations of Applicable Law. Applicable Law might explicidy or implicitly allow the
<br />parties to agree by contract or it might be silent, but such silence sha11 not be construed as a prohibition against agreement by
<br />contract. In the event that any provision or clause of this Securiry Instrument or the Note conflicts with Applicable Law, such
<br />conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the
<br />conflicting provision.
<br />As used in this Security Instrument: (a) words of the masculine gender shall mean and iuclude conesponding neuter
<br />words or words of the feminine gender; (b) words in the singular sha11 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. Bonower shall be given one copy of the Note and of this Securiry Instrument.
<br />18. Transfer of the Property or a Benefidal Interest in Borrower. As used in this 5ection 18, "Interest in the
<br />Property" means any legal or benefic'ral interest in the Property, including, but not limited to, those beneficial interests
<br />transferred in a bond for deed, contract for deed, insta.11ment sales contra.ct or escrow agreement, the intent of wluch is the
<br />transfer of tifle 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 tra.asfened (or if Bonower is not a natural
<br />person and a bene�cial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require
<br />immediate payment in full of a11 sums secured by this Securiry Instrument. However, this option sha11 not be exercised by
<br />Lender if such exercise is prohibited by Applicable Law.
<br />NEBRASKA—Single Family—Fan�e Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Bankers Syetems, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 (po¢ge 5 of 7 pages)
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