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20 1105�7�
<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 (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Brnrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, 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 />premiums gaid to the insurer, the a.rrangement is often termed "captive reiinsurance." Further:
<br />(a) Auy snch agreememts wW not affect the amannts that Borrower has agreed to pay for
<br />Mortgage Insnrance, or any other terms of the Loan. Snch agreeme�s will not increase the amonnt
<br />Borrower will owe for Mortgage Insnrance, and ihe w�ll not entitle Borrower to any refand.
<br />(b) Any snch agreements will nat affect the r�ghts Horrower has - if a� - with respect to the
<br />Mortgage Insnrance nnder the Homeowners Protection Act of 1998 or a� other law. The� rights
<br />may inclnde the r�ght to receive certai�t dfsclosares, to reqaest and obtain cancellation of the
<br />Mortgsge Insnrance, to have the Mortgage Insnrance terminated antomarically, andlor to recefve a
<br />refand of any Mortgage Insnrance preminms that �vere nnesrned at the t➢me of sach canceIIatioa or
<br />terminatlon.
<br />11. Assigument of Mis�ellaneoas Praceeds; Forfeftnre. All Miscellaneous Proceeds are hereby
<br />assigned to and shall bepaid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied w restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessaaed.
<br />During such n�pair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opporhmity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single dishurs�ment ar in a series of progress payments as the work is
<br />completed. Unless an a$reement is made in writing or Applicable Law reqnires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall nat be requized to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If tlne restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the MiscellaneoUS Proceeds stiall be applied to the sums secured by this Security Insl�ument„
<br />whether ar not then due, with tl�e excess, if any, paid to Borrower. Such Mi�eltaaeous 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 Properry, the MiisceUaneous
<br />Proceeds sl�all be applied to the sums secored by this Security Inst�menk whe�er or not then due, with
<br />the excess, if arry, paid to Borrower.
<br />In the event of a partial taking, des�uction, or loss in value of the Property in which the fair market
<br />value of the Property immediately befare the partial taking, destruction, or loss m value is equal to or
<br />grea#er than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Bonower and Lender othe�wise agree in writing, the sums
<br />secured by this Security Insixument shall be reduced by the amount of the Miscellaneous Froceeds
<br />multiplied by the following &action: (a) the total amoum of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fa.ir market value of the Property
<br />immediately before the partial taking, destruction, ar lass in vaiue. Any balaace shall be �aid to Borrower.
<br />Ia t�e eveat of a partial taking, destruction, or loss in value of the Property in wluch the fair market
<br />value of the Property immediately before tbe partial taking, destruction, or loss in value is le.ss than the
<br />amount of the sums se�cured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otiierwise agree in writing, the Miscellaneaus Proceeds shall b� applied to the sums
<br />secured by this Security Ins�ument whether or not the snms are then due.
<br />If tha Property is abamdoned by Borrower, or i� aRer notice by Lender to Borrower that the
<br />Opposing Party (as defined in the nelct sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lendes within 30 days after the date the natice ia given, Lender is authorized
<br />to collect and apply thhe Miscellaneous Proceeds exther to restoration or repair of tite Property or to the
<br />sums secured by this Security Tnstrument, whether or not thea due. "Oppvsin� Party" means the third Part3'
<br />that owes Bonower Mi�ellaneous Proceeds or the pariy against whom Borrower has a right of action in
<br />regard to Mis�ellaneous Proceeds.
<br />Bonower shall be in defaalt if any action or proceeding, whet3�er civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Le�xder's
<br />interest in the Properiy or ri�hts under this Security Instrument. Borrower can cure such a default and, if
<br />acceleration has occurred, reinstate as provided ia Section 19, by causiag the action ar proceeding to be
<br />NEBRASKA- 3ingle Family - Fanafe AdaelFreddis IlAaa UNIFORM INSTRUMENT WITH M
<br />��p(NE� (asqo) page 9 of 16 wnm�s: Form 3028 1/01
<br />a�{II I � I fl�fll��l �
<br />q��30�135� 0233 92 1 Q9�
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