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�01104911
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (direcfly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Bonower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's rlsk, or reducing losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />pi•emiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not incrase the amount
<br />Borrower will owe foa 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 respe,ct to the
<br />Mortgage Insurance under the Hom�wners Protection Act of 1998 or any other law. The.ae rights
<br />may include the right to receive certain disclosures, to request and obtain c�ncellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />We Properly, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Properly to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspectton shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement 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 />applled in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of We Property, the Miscellaneous
<br />Proceeds shall 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 We event of a partial taking, destruction, or loss in value of the Property in wlrich the fa9r market
<br />value of the Property immediately before the par�tal taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Securily Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Bonower 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 />multlplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destrucflon, or loss in value divided by (b) the fair market value of the Properly
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In the event of a partial taking, deslruction, or loss in value of the Property in wluch the fair market
<br />value of We Properly immediately before We partial taking, destruction, or loss in value is less than We
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />ff the Property is abandoned by Borrower, or if, after notice by Lender to Bonower that 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 respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoral3on 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 />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Bortower 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 Instrument. Bonower can cure such a default and, if
<br />acceleration has occurred, reinstate as provided in Secflon 19, by causing the action or proceeding to be
<br />001122573563 Citibank 3.2.47.14 VS
<br />N�RASKA - Single Family - Fannle Mae/Freddle Mac UNIFORM INSTRUMB�IT' WITH
<br />�-6A(N� �oa�o� Page 9 of 15 �nroa�s: Form 3028 1l01
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