201107691 - Laserfiche WebLink

Browse

201107691 satisfaction, provided that snch inspection shall be undertaken promptly,Lendex may pay fox the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in wriring or Applicable Law requires interest to be paid on such MisceRaneous Proceeds, Lender shall not be requircd to pay Borrower any interest or eamings on such Nliscellanaous Proceeds. If the restorarion or repair is nof economically feasiUle or Lender's securitc would be lessened, ffie Miscellaneous Proceeds shall be applied to tt�e swns secured by this Security Insirument, whether or not then due, Rdth the excess, if any, paid to Bonower, Such.Nliscellaneous Proceeds shall be applied in the order provided for in Section 2. In the eveat of a total talcing, destruetion, or loss in value of the Property, the Miscellaneous Proceeds shall be applied Yo the sums secured by this Security Instnunent, whether or not then due, With the excess, if aay, paid to Borrower. In the event of a partial taleing, destruction, or loss in value of the Properry in which the fair mazkeY value of the Property immediately hefore the partial takina; destruction, or loss in value is equal to or greater than the amount of the smns secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by fhis Seciuity Inshument shall be reduced by the amount of the Miscellaneous Proceeds mulriplied by the fallowing fraction: (a)the total amoimt of the sums securcd immediately Uefore the pariial taking, desYruction, or loss in value clivided by (b) the fair market value oP Che Properiy immediafely before Yhe pariial taking, deshuctimi, or loss in vahle. any balauce shall be paid to Bosower. In the event of a partial takine, dc-struction; or loss in nalue o£tlie Yroperry in which the fair mazket valne of the Properry umneckiately before the partial faking, destcuetion, or loss in value ls less than the auiounf of the sums secured iinmediately beYore the paitial talcing, destrucrion, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Pmceeds shall be applied to thc sums secured by this Security Insirument whether or not the sums aze then due. If the Proper[y is aUandoned by Bpnower; or if, after norice by Lender to Boaower that the Opposing Parry (as defined in the next sentencc) offexs to make an awazd to settle a alaiin for damages,Soirowex fails to respond to Lender within 30 days aftes�I�e date the notice is given,Lender is authorized to colleet and apply the Miscellaneous Proceeds cither to restoration or repair of the Proper[y or to the sums secured by this Security Instrument whether or noc then due. "Opposing Pariy" means the third party that owes&�rrower Miscellaneous Proceeds or the party against whom Boirower has a right of action in xegard To Miscellaneous Proeeeds. Borrower shall be in default if any action or proceecling, whether civil or criminal, ls begun thal; in Lender's judgment, could result in forfeiture of the Property or other material unpairment of Lender's interest in thc Properiy or rights under this Security inshwnent. Bonower can cure such a default and, if acceleration has occurrcd, reinshte as provided in Section 19, by causin� the action or proceeding to be dismissed with a rulmg that, in Lender's judgment, precludes forfeiture of the Property or other inaterial impaimient of Lender's interest in the Property or rights undex this Security Instrument. The proceeds of any award or claun for damages that aze aTtributable to the impaument of Lender's intexest in 2he Property aze hexeby assigned and Shall be paid to Lender. All Miscellaneous Proceeds tliat aze not applied to restoxation or repair of The Property s�haR be appfied 'tn the order pzovided for in Section 2. 23I�H6 NEBRASKA-SingleFamily-FannieMaa/F�edCieMacOWFDRM INSTRUMENT Porm 30281/01 VMP rg VMP6(Nt�(1 i G5 Wolters Kluwer Financial Servlces Page 10 ot 4]