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<br />In the event of a partial taking, destruction, or loss in value of the Property in wluch the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
<br />secured by this Securiry Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Securiry Instrument shall 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 Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall be paid to Bonower.
<br />In the event of a partial ta�ing, destrucdon, 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 amouut of the sums secured
<br />immediately before the partial taking, 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 Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Bortower, or if, after notice by Lender to Borrower that the Opposing Parly (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 da.ys
<br />after the date the notice is given, Lender is auihorized to collect and apply the Miscellaneous Proceeds either to restoration or
<br />repair of the Properiy or to the sums secured by this Securiry Instrument, whether or not then due. "Opposing Party" means
<br />the third party that owes Bonower Miscellan�us Proceeds or the party against whom Borrower has a right of action in regard
<br />to Miscellaneous Proceeds.
<br />Borrower shall 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 Property or other material impairment of Lender's interest in the Property or rights under this
<br />5ecurity Instrument. Bonower can cure such a default and, if acceleration has occuned, reinstate as provided in Section 19, by
<br />causing the action or p�oceedi�g to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the P.roperty
<br />or other material impaitment of Lender's interest in the Property or rights under this Security Instnunent. The proceeds of any
<br />award or claim for damages that are attributable to the impairment of Lender's interest in the Property ate hereby assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Properiy sha11 be 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 />modif'ication of amortization of the sums secured by this 5ecurity Instrument granted by Lender to Bonower or any Successor
<br />in Interest of Bottower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender
<br />sha11 not be required to commence proceedings against any Successor in Interest of Bortower or to refuse to extend time for
<br />payment or otherwise madify amortization of the sums secured by this Securiry Instrument by reason of any demand made by
<br />the original Bonower or any 5uccessors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
<br />including, without limitation, Lender's acceptance of payments from third gersons, 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 ot remedy.
<br />13. Joint and 5everal Liability; Co-signers; Successors and Assigns Bound. Bonower covena.nts and agrees that
<br />Borrower's obligations and liability shall be joint and several: However, any Bonower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Securiry Instrument only to mortgage, grant and convey the
<br />co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instnunent; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
<br />ma.ke any accommodaiions with regard to the terms of this Security Instrument or the Note without the co-signer's consent.
<br />5ubject to the provisions of Section 18, any Successor in Interest of Bonower who assumes Borrower's obligations
<br />under this Security Instnunent in writing, and is approved by Lender, shall obtain a11 of Borrower's rights and bene�ts under
<br />this Securiry Instrument. Borrower sha11 not be released from Borrower's obligations and liability under this 5ecurity
<br />Instnxment 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 assigas of Lender.
<br />14. I.Qan Charg�. Lender may charge Borrower fees for services performed in connection with Borrower's default,
<br />for the purpose of protecting Lender's interest in the Properly and rights under this Security Instnunent, including, but not
<br />limited to, auorneys' fees, propetty inspection and valuation fees. In regard to any other fees, the absence of express authority
<br />in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the chazging of such
<br />fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or b Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan chazges, and that law is �na11y 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 permiued limit; and (b) any sums already
<br />collected from Borrower which exceeded petmitted 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 pa.rtia.l prepayment without any prepayment charge (whether or not a prepayment
<br />charge is provided for undet the Note). Borrower's acceptance of any such refund made by direct payment to Bonower will
<br />constitute a waiver of any right of action Bortower might have arising out of such overcharge.
<br />15. Notices. All notices given by Bonower or Lender in connecfion wiW this 5ecuriry Instrument must be in writing.
<br />Any notice to Bonower in connection wifh this 5ecurity Instrumenf shall be deemed to have been given to Borrower when
<br />malled by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one
<br />Borrower sha11 constitute notice to all Borrowers unless Applica.ble Law expressly requires otherwise. The notice address shall
<br />be the Properly Address unless Bonower has designated a substitute notice address by notice to Lender. Bonower shall
<br />prompdy notify Lender of Bonower's change of address. If Lender specifies a procedure for reporting Bonower's change of
<br />address, then Borrower shall onl� report a change of address through that specif'ied procedure. There may be only one
<br />desigaated notice address under th�s Security Instrument at any one time. Any notice to Lender shall be given by delivering it
<br />or by mailing 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 5ecuriry Instrument shall not be deemed to have been given to Lender until
<br />actually received by Lender. If any notice required by this Securiry Instrument is also required under Applicable La.w, the
<br />Applicable Law requirement will satisfy the corresponding requirement under rhis Securiry Instrument.
<br />_�6. Gover,nin� :�.aw; SQVera�ility�,Rules of Const�uctipn. .This Secutity Ins�tument,. sha�l be ,goyeru�ed by,federal. law
<br />and the law of the �unsdiction iu which the Property is located. All rights and obligations conta.ined in this Securiry Iastrument
<br />are subject to any requirements and limitations of Applicable La.w. Applicable Law might explicidy or implicidy 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 ptovision or clause of this Security Instrument or the Note conflicts with Applicable Law, such
<br />conflict sha11 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 Securiry Instrmnent: (a) words of the masculine gender shall mean and include corresponding neuter
<br />words or words of the feminine gender; (b) words in tt�e 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 Security Instrument.
<br />18. Transfer of the Property or a Bene6c3a1 Tnterest in Borrower. As used in this Section 18, "Interest in the
<br />Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
<br />transfened in a bond for deed, contract for deed, installxnent sales contract or escrow agreement, the intent of which is the
<br />transfer of tide 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 transferred (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 all sums secured by this 5ecurity Instrument. However, this option sha11 not be exercised by
<br />Lender if such exercise is prohibited by Applica.ble La.w.
<br />NEBRASKA—Single Family—Fannfe Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Bankers Syetams, Ir�., St. Claid, MN Form MD-1-NE 8/17/2000 (page 5 of 7 pnges)
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