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201�0578�
<br />` In [he event of a partial taking, destruction, or loss in value oP the Property in which the 1'air uiarket value of the
<br />Property immediately before tlie partial taking, destruction, or loss in value is equal to or greater than tUe amount of the sums
<br />secured by this Security 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 Security Instrument sha11 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 mazket value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance sha11 be paid to Borrou+er.
<br />In the event of a partial taking, destruction, or loss in value of the Property in whrch the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immedialely before the panial taking, destruction, or loss in value, unless Borrower and L,ender olherwise agree in writiug, the
<br />Miscellaneous Proc;eeds shall be applied lo the sums secured by this Security Inslrumenl whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by I,ender to Rorrower that the Op�ing Party (as de�ned
<br />in the next sentence) offers to make an award to settle a clairn for damages, Borrower fails to respond to I,ender within 30 days
<br />after the date the notice is given, Lender is authorized to collect and apgly the Miscellaneous Proceeds either to restoration or
<br />repair of the Property or to the sums secured by this Securiry Instrument, whether or not then due. "Opposing Party" means
<br />the third party that owes Borrower Miscellaneous 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 proceediing, whether civil or criminal, is begun that, in Lender's judgment,
<br />wuld result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights undcr this
<br />Security Instnunent. Bonower can cure such a default and, if accelcration has occurred, reinstaxe as provided in Section 19, by
<br />causing the action or proceeding to be dismissed with a ruling that, in L,ender's judgment, precludes forfeiture of lhe I'roperty
<br />or other material impairment oP Lender's interest in the Yroperiy or rights under this Securiry Instnunent. '1'he proceeds of any
<br />award or claim 1'or damages that are aitributable to the impairment of Lender's interest in the Property are hereby assigned and
<br />shall be paid to I.ender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Torbearance By I.ender Not a Waiver. �xtension of the time for payment or
<br />mod�cation of amortization of the sums secured by tlus Security Instrument granted by Lender to Borrower or any Successor
<br />in Interest of Borrower sha11 not operate to release the liabiliry of Borrower or any Successors in Interest of Borrower. Lender
<br />sha11 not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by
<br />the original Borrower or any Successors in Interest of Bonower. Any forbearance by Lender in exercising any right or remedy
<br />includiiig, without limitation, Lender's acceptance of payments from third �rsons, entities or Successors m Interest of
<br />Bonower or in auiounts less than the uuount then due, shall not be a waiver oP or preclude the exercise of any right or remedy.
<br />' 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Rorrower covenai�ts and agrees that
<br />Borrower's obligations and liability sha11 be joint and several. However, any Borrower who co-signs this Security Instrument
<br />but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the
<br />co-sig�ler's interest in the Properly under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without the ca-signer's consent.
<br />Subject to the provisions of Section 18, any Successar in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />�his Security Instrument. Borrower shall not be released from Borrower's obligations and liability under �his Security
<br />Instrument unless L,ender agrees to such release in writing. '1'he covenants and agreements of this Sec;urity Inslrument shall bind
<br />(except as provided in Section 20) and bene�t the successors and assigns of I,ender.
<br />14. Loan Charg�. I,ender may charge Borrower fees for services performed in connection with Borrower's default,
<br />for d�e purpose of protecting Lender's interest in the Pro}�erly and rights under this Security Instrument, including, but not
<br />limited to, attorneys' fees, propeny 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 sha11 not be construed as a prohibition on the charging of such
<br />fee. I,ender may not charge fees that are expressly prohibited by this Securiry Instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest
<br />or other loan charges collected or to be collected in connection with thc Loan excccd the permitled limits, thcn: (a) any such
<br />loan charge sha11 be rcduced by the amount necessary to reduce thc charge to thc permitted limit; and (b) any sums alrcady
<br />collected from Borrower which exceeded permitted limits will be refunded to Bonower. Lender may choose to make this
<br />refund by reducing the principal owed under the Note or by making a direcl paymenl to Bonower. If a refund reduc;es
<br />principal, the reduction will be treated as a partial prepayment without any prepayuient charge (whetlier or not a prepayment
<br />charge is provided for under the Note). Rorrower's accepiance of any such refund rnade by direct payment to Rorrower will
<br />constitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />15. Noric�. All notices given by Borrower or Lender in connection with this Securiry Instrument must be in writing.
<br />Any natice to Borrower in connection with this Securiry Instrument shall be deemed to have been given to Borrower when
<br />mailed by first class mail or when actually delivered to Bonower's notice address if sent by other means. Notice to any one
<br />Borrower shall constitute notice to a11 Borrowers unless Applicable Law expressly requires otherwise. The notice address shall
<br />be thc' Properly Address unless Borrower has dcsignated a substitute notice address by notice to Lendcr. Borrowcr shall
<br />promptly notify Lcnder of Borrower's change of address. If Lender specif'ies a proccdurc for reporting Borrowcr's changc of
<br />addres's, then Borrower shall only report a change of address through that specified procedure. There may be only one
<br />designated notice address under this Security lnstrument at any one time. Any notice to Lender sha11 be given by deliveting 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 Securiry Instrument shall not be deemed to have been given to I.ender until
<br />actuallj� received by Lender. If any notice required by this Securiry Instrument is also required under Applicable Law, the
<br />Applicable L.aw requirement will satisfy the conesponding requirement under this Security Instrument.
<br />.16. Governing Law; Severability; Rules of Construction. This Securiry Inst[ument shall be govemed by federal law
<br />and the law of the jurisdiction in which the PropeRy is Located. All rights and obligations contained in this Security Instrument
<br />are subject to any requirements and limitaxions of Applicable Law. Applicable Law might explicitly or implicitly allow �the
<br />parties to agree by contract or it might be silent, but such silence sha11 not be construed as a prohibition against agreemenr by
<br />conuaCt. In thc event thax any prov�sion or clause of this Security Instrument or the Note conflicts with Applicablc Law, spch
<br />conflict shall not affect other grovisions of this Sccuriry Instrumcnt or thc Notc which can bc givcn effect without thc
<br />confliccing provision.
<br />As used in this Securiry Instrument: (a) words oP the masculine gender sha11 mean and include corresponding neuter
<br />words ,or words of the feminiue gender; (b) words in the singulax shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion without auy obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Securiry Instrument.
<br />' 18. Transfer of the Property or a BenefScial Interest in Borrower. As used in this Section 18, "Interest in the
<br />Property" means any legal or bene�cial interest in the Properry, including, but not limited to, those beneficial interests
<br />transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is ''the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />' If all or any part of the Properly or any Interest in the Propeny is sold or transferred (or if Borrower is not a natural
<br />person and a beneficial interest in Borrower is sold ot transferred} without Lender's prior written consent, Lender may require
<br />immediate payment in full of a11 sums secured by this Securily Instrument. However, this option shall not be exercised' by
<br />I,ender if such exercise is prohibited by Applicable Law.
<br />NEBRASKA—Single Family—Fannie Mae/Fredd'ie Mac UNIFORIiA INSTRUMENT Form 3028 1/01
<br />Bankers Systems, Inc., St. Claid, MN Form MD-t-NE 8l17/2000 (page 5 of 7pages) �� ��
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