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2011045�0
<br />As a result of these agreements, Lender, any purchaser of the Note, another insnrer, any reinsurer,
<br />auy other entity, or any aff'�lia.te of auy of the foregoing, may receive (directly or indirecfly) amounts that
<br />derive from (or might be characterized as) a portion of Bonower's payments for Mortgage Insurance, in
<br />excha.nge for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an a.ff'�lia.te of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive re�nc�rance," Further:
<br />(a) Any such agreements will not affect the amounts that Borcower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase f.he amonnt
<br />Bortower will owe for Mortgage Insurance, and they will not entitle Borrower to any refuad.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insarance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receiye certain disclosures, to request and obtain canceIIation of the
<br />Mortgage Insnrance, to have the Mortgage Insurance terminated antom�tically, and/or to receive a
<br />refnnd of any Mortgage Insnrance preminms that were uuearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeitnre. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If fhe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Progerty, if the restoration or repair is economically fea.sible and Lender's security is not lessened.
<br />During such repair and restaration geriod, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opporiunity to inspect such Property to ensure th.e work has been completed to
<br />Lender's sa.tisfaction, provided that such inspection shall be undertaken pmmpfly. Lender may pay for the
<br />repairs and restoration in a single disbuisement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened., the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds sttall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, deslruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a} the total amount of fhe sums secured immediately before the
<br />partial taking, deshuction, or loss in value divided by (b) the fair market value of the Properiy
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immedia,tely before the partial taking, destruction, or loss in value is less than the
<br />amaunt of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and L,ender otherwise agree in writing, the Miscellaneous T'roceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sum,s aze then due.
<br />ff the Property is abandoned by Bonower, or if, after notice by Lender to Borrower tt�at the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to resgond to Lender within 30 days after the date the notice is given, Lendez is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />fhat owes Borrower Miscellaneous Praceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Bozrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Insirument. Bonower can cure such a default and, if
<br />NEBRASKA - Single Family - Fannie Maa/Freddie Mec UNIFORM INSTRUMENT
<br />�-6(NE) toe� � i aege a or � s iRr�e�: . Form 3028 9/01
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