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20�10513w In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater tha.n the amount of the sums secured by tlus Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the surns secured immediately before the partial taking, desttuction, or loss in value divided by (b) the fair market value of the Property immediatety before the partial taking, destruction, or toss in value. Any ba.lance shall be paid to Bonower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is Iess than the amount of the sums secured immediately before the partial taking, destruction, or loss in vatue, unless Bonower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to ma.ke an award to settle a claim for damages, Bonower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Bonower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Bortower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of We Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Bonower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismisse� with a ruling that, in I,ender's judgment, precludes forfeiture of the Property or other material impairment of I,ender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender"s interest in the Property are hereby assigned and shaIl be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums sacured by this Security Instrument granted by Lender to Bonower or any Successor in Interest of Bonower shall not operate to release the liability of Bonower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Bonower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or any Successors in Interest of Bonower. A.ny forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Bonower or in amounts less tha.n the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. JoHnt and Several Liab�il�tty; Casigners; Successors and Assigns Bound, Borrower covenants and agrees that Bonower's obligations and liability shall be joint and several. However, any Bonower who co-signs this Security Instrument but does not execute the Note (a "co-sigtter"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Insm�ment; and (c) agrees that Lender and any other Bonower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section I8, any Successor in Interest of Bonower who assumes Borrower's obligations under this Securiry Instrument in writing, and is approved by Lender, shall obtain all of Bonower's rights and benefits under this Security Instivmment. Borrower shall not be released from Bonower's obligations and liability under this Security Tnstrument unless Lender agrees to such release in writing. The covena.nts and agreements of this Security Instrutnent sha11 bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attomeys' fees, property inspeCtion and valuation fees. In regazd to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the germitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refuuded to Bonower. Lender may chaose to ma.ke this refund by reducing the principal owed under the Note or by making a direct payment to Bonower. If a refund reduces principal, the reduction will be treate� as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Bonower's acceptance of any such refund made by direct payment to Bonower will constitute a waiver of any right of action Bonower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instlument must be in writing. Any norice ta Bonower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Bonower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Bonower's change of address. If Lender specifies a procedure for reporting Bonower's change of address, then Bonower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Secu�ity Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any norice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Securiry Instrument is also required under Applicable Law, the Applicable I,aw requirement will sarisfy the corres�nding requirement under this Security Instrument. 16. Govern�ng Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is loca,ted. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence sha11 not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note confticts with Applicable Law, such conflict shall not affect other provisions of this Securiry Instrument ox the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include conesponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instivment. 18. Transfer of the Property or a Benei�cial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transfened in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Bonower at a future date to a purchaser. If all or any part of the Froperty or any Interest in the Property is sold or transferred (or if Bonower is not a natural person and a beneficial interest in Bonower is sold or transfened) without Lender's prior written consent, I.ender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by I.ender if such exercise is prohibited by Applicable Law, NEBRASKA—Single Family—Fannie Mae/Freddie Mac UIY(FORM INSTRUMEidT Form 3028 1/01 Benkars Systems, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 (page 5 of 7poges)