|
�Q�1Q�044
<br />satisfacrion, provided that such inspection shall be undertaken promptly. Lender may 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 shall not be required to pay Bonower 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 Bonower. Such Miscellaneous Procseds shall be
<br />applied in the order provided for in Secrion 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall
<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 S�urity Instrument immediately before the partial taking, destruction, or
<br />loss in value, unless Bonower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instrument shall be reduced by the amount of the Miscellaneous Proceecis multiplied by the following
<br />fraction: (a) the total amount of the sums se,cured immediately l�fare the partial taking, desixucrion, or loss
<br />in value divided by (b) the fair market value of the Property immediately before the partial taking,
<br />destruction, or loss in value. Any bal�ce shall be paid to Borrowe�.
<br />In the event of a partial taking, �struction, or loss in vatue of ti�e Progerty in which the fair market vatue of
<br />the Property itnme�fiiately before the p� tat�g, �estruction, at Io� it� v�tue is Iess than tlte amotint of the
<br />stm� seeured i�m�tiately befoae the �r�rti�@ t�g, e�est�zctirns, c�r Ioss i� v�Iue, untess Borrow+er aBd
<br />L.ender c��herv�'rse agre.e ia w+�i�g, �ce 1VZisceT��r�s Pr�s s� �re �agl�e�. to the sums secure�€ by this
<br />�t�aE�a whe�he� or �� t�e � are tlierE ck�e.
<br />� t.he Progerty is ab�o� by �r•��, eax if, a�fter natir,e �ry �er to �crrrower that the OppasiIIg Party
<br />(as de�ed in the nea�E �ntenc�) offers ta a�ke az� awarc� to settFe a cl�im far �mages, �orrower faits to
<br />respon� to Lender wit�hin 34 days after tt�e c�ate the natice is givea, LeIICter is autharized to coll�t aud apply
<br />the 1Vliscellan�us Proceeds either to restoration or repais of the Property or ta the sums secu.red by this
<br />Security ��+ctn,,,�►r, �rhether or nc�t ttae� c�ue. "OPPoS1IIg PartY" �ns the third party that owes Borrower
<br />MiscelZ�us Froceeds or tfie FaxCY against �aFiom Barrcrwer has � right of actia� in regard ta Miscellaneous
<br />Pioc�eds.
<br />Borrower shall be in defautt if any acrion or proceeding, whether civit or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Properiy or other materiat impairment of Lender's interest in the
<br />Property or riglnts under this Security Instrument. Borrower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Section 19, by causing the action or pmceeding to be dismissed with a
<br />ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of
<br />Lender's interest in the Property or rights under this S�urity Instrument. The proceeds of any award or
<br />claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Procceds 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/Ot
<br />VMP Q VMP6(NE) (1105)
<br />Wolters Kluwer Financial Servic� Page 10 of 17
<br />
|