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20��075��
<br />satisfaction„ 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 Proce�tls, Lender shall not be required to pay Bonower any interest or earnings on such
<br />Miscellan�us Proceeds. If the restoration or repair is not economically feasible or Lender's s�urity 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 Miscellan�us Proceeds shall be
<br />applied in the order provide� for in 5ection 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proce�ds 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 �nower.
<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 immecliately before the partial taking, destruction, or loss in value is equal to or greater than the
<br />amount of the sums seaured by this Securiry Instrument immediately before the partial taking, destruction, or
<br />loss in value, unless Bonower and Lender otherwise agr� in writing, the sums secured by this Security
<br />Instniment shall be reduced by the amount of the Miscellaneous Proce�is multiplie� by the following
<br />fracrion: (a) the total amount of the sums s�ured immediately before the partial taking, destruction, 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 balance shall be paid to Bonower.
<br />In the event of a partial taldng, 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 less than the amount of the
<br />sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />Security Instrument whether or not the sums are then due.
<br />If the Property is abandone� by Bonower, or if, after notice by Lender to Bonower that the Opposing Party
<br />(as defined in the next sentence) offers to make an awazd to settle a claim for damages, Borrower fails to
<br />respond to Lender within 30 days after the date the norice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by tlus
<br />Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneous Procceds or the party against whom Bonower has a right of action in regard to Miscellaneous
<br />Proceeds.
<br />Bonower shall be in default if any action or procee�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 Securiry Instnunent. Bonower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Section 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 impairment of
<br />Lender's interest in the Property or rights under this Security Instnunent. The proc,eeds of any awazd 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 Procceds that aze not applied to restoration or repair of the Property shall be applied in the
<br />order providerl for in Section 2.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Financial Services
<br />Form 3028 1 /01
<br />VMPB(NEI i110b)
<br />Page 10 of 17
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