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20�106893
<br />satisfaction, provided that such inspection shall be undertaken promptly. Lender ma.y pay for the repairs
<br />and restoration in a single disbursement or in a series of progress payments as the work is completed.
<br />Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender sha11 not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not econoxnically feasible or Lender's security would
<br />be lessened, the Miscellan�us 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, destrucrion, or loss in value of the Progerty, the Miscellaneous Proceeds shali
<br />be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instnunent immediately before the partial taking, destruction, or
<br />loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Fnstrument shall be reduced by the amount of the Miscellaneous Proceeds mulriplied by the following
<br />fraction: (a) the totat amount of the sums secured immediately before the partial ta.king, destruction, or loss
<br />in value divide� by (6) the fair market vatue of the Property immediately before the partial taking,
<br />destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In t�e event of a gartial taking, dest�ction, or lass ue value of the Froperty in vvhich ti�e fair market value of
<br />the Property i�me�tiate�}� befo� t� g�i�t takiug, destruction, or loss in value is Iess thau the amount of the
<br />sums � am���y Txfcaae tfi� p�rteat takiag, c�ruetio�, or Iass in vatue, tutt�ss Berrower and
<br />Lenc�er o� ag�ee i� �, � MiseeEF�ceons Proceeds shall be a�pliec$ to the sums secured by this
<br />Seeutity I�nB �+&�er ��t tlte s�s are tT�en due.
<br />If the Propetty is abaa�c�oa� b� B�rrower, os i�, after notice by Lender to Borrower that the OPP�$mg P�Y
<br />(as c�ecfin� in tfie tte�€t �,��) o€fers to �iatce an award to settte a claint for damages, Borrower fails to
<br />respond to L.e�er �rit� 3i3 days after tke date the nQrice is given, Lender is author�zed to collect and apply
<br />tke NTiscella�evus Proceeds either ta restoration or repair of the Properly or to the sums secured by this
<br />Security �'nstnunent, whethez crr aot then due. "Q�FPesing Party" means tlze tl�ird party that owes Borrower
<br />Miscel�aneotas Proc�is or t�ae patty agairts[ vvfaom Borrower has a right of action in regard to Misceilaneous
<br />Proceeds.
<br />Borrower shall he in default if any action or pr�ing, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the
<br />Property or rights under this Security Instrument. Bonower can cure such a default and, if accelerarion has
<br />occurred, reinstate as provided in Secrion 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, precludes forFeiture of the Property or other material intpairment of
<br />I.ender's interest in the Property or rights under this Security Instnunent. The proceeds of any award or
<br />claim for damages that aze attributable to the impairment of Lender's interest in the Property aze hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP6(NE) (1105)
<br />Wolters Kluwer Flnancial Services Page 10 of 17
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