|
20110776�
<br />satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs
<br />and restorarion 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 Borrower any interest or earnings on such
<br />Miscellaneous Procceds. 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 Instrvment,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellan�us Proceeds 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 Borrower.
<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 hefore the paztial taking, destrucrion, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instrument 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 />Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />fracrion: (a) the total amount of the sums secur� immediately before the partial taking, destrucrion, or loss
<br />in value divided by (b) tfie 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 talcing, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial tatang, destruction, or loss in value is l�s than the amount of the
<br />sums s�ured immediately before the partiat talcing, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proc,eeds sha1l be applied to the sutns secured by this
<br />Security Instrument whether or not the sums are tfien due.
<br />If the Properiy is abandoned by Borrower, or if, after norice by Lender to Borrower that the Opposing Party
<br />(as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to
<br />respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the surns secured by this
<br />S�urity Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneous Procceds or the party against whom Borrower has a right of acrion in regard to Miscellaneous
<br />Proceeds.
<br />Bonower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, coutd result in forfeiture of the Property or other material unpairment of I,ender's interest in the
<br />Property or rights under this Se,curity Instrumern. Bonower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Section 19, by causing the acrion 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 Instrument. The procceds of any award or
<br />claim for damages that are attributable to the impairment of Lender's interest in the Property aze hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Proc,eeds that are not applied to restoration or repair of the Property sha11 be applied in the
<br />order provided for in Section 2.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 7/O7
<br />VMP (g� VMP6(NE) (1105)
<br />Wolters Kluwer Financial Services Page 70 of 17
<br />; t . �
<br />m � x � � �, �', G�
<br />
|