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KEVIN S KISER TINA KISER � Q 1 1 ����� 10f14/2011
<br />If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the
<br />amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender
<br />will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss
<br />reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not he
<br />required to pay Bonower any interest or earnings on such loss reserve. Lender can no longer reqnire loss reserve
<br />payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) pravided by an insurer
<br />selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the
<br />premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and
<br />Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower
<br />shall pay the premiums required to maintain Mortgage Insiirance in effect, or to provide a non-refundable loss reserve,
<br />until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
<br />Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10
<br />affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Bonower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from tim.e to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may
<br />have available (wluch may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, anotlner insurer, any reinsurer, any other
<br />entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be
<br />characterized as) a portion of Borrower's payments for Mortgage Insuraace, in exchange for sharing or modifying the
<br />mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the
<br />insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive
<br />reinsurance." Fuzther:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Bor�rower has — if any — with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or to receive a refund of �ny Mortgage Insurance premiums that were
<br />unearned �t the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
<br />if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to
<br />inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspecrion shall
<br />be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress
<br />payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be
<br />paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Bonower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Properiy, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Properly in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the
<br />sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the
<br />amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value divided by (b) the fair ma.rket value of the Property
<br />immediately before the partial taking, destruction, or losa in value. Any balance shall be 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 the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in
<br />writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the
<br />sums are then due.
<br />If the Property is ahandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a clann for damages, Bonower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds
<br />either to restoration or repair of the Property or to the sums secured by this Security Instivment, whether or not then due.
<br />"Opposing Party" means the third party that owes Bonower Miscellaneous Proceeds or the parly against whom Bonower
<br />has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impair,ment of Lender's interest in the Property or
<br />rights under this Security Instrument. Bonower can cure such a default and, if acceleration has occuned, zein�tate as
<br />provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgmant,
<br />precludes forfeiture of the Property or other material impairment of Lender's interest 'vn the Property or rights under this
<br />Security Instrument. 'I`he proceeds of any award or claim for damages that are atlributable to the impairment of Lender's
<br />interest in the Properly aze hereby 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 iJNIFORM IN5TRUMENT Form 3028 1/Ol
<br />NE210M 4/2010 Origiaal tRecorded) Copy (Braach) Copy (Customer) Page 5 of 8
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