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201108060
<br />sarisfaction, 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 cornpleted.
<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 Proceeds sha11 be
<br />applied in the order provided for in Section 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, 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, uQless B�rrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instniment sball be reduced by the amaunt of the Miscellaneous Proceeds multiplied by the folIowing
<br />fraetion: (a) the tota� aanc�unt of the sums se.cured immediately before the paztial taking, destivction, or loss
<br />in value divided by (b) the fa'tr market value of the Property immediately hefore the partial ta�ing,
<br />destr�ction, or lass ir� vaiue. Any batance shall be paid to Borrower.
<br />Tn the event of a partiat taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Praperty immediaxely befoEe the partiat taking, destruction, or loss in vatue is less than the amvunt of the
<br />sums secured immediately be€ore the partial talcing, destruction, or Ioss in value, unle�s Borrower and
<br />Lender otherwise agr� ia writing, the Nliscellaneous Proceeds shalt be appiie@ to the sums secured by tlus
<br />Seeurity Insttvment whether or not the sums aze tken due.
<br />If the Praperty is abandcme� by Bonower, or if, after notice by Lender to Borrower that the f}pposing Party
<br />(as defined in the next sentence) offers to make an aw�rd to settle a claim for da,mages, Borrower fails to
<br />respond to Lender within 30 days after the date the notice is give�t, T.ender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br />Se,curity Instnunent, whether or not then due. "Opposing Party" means the tfiird party that owes Borrower
<br />Miscellaneous Proceeds or the party against whom Borrower has a rigkt of action in regard ta MiscellaBeous
<br />Proeeeds.
<br />Bonower shall be in default if any acrion or proceeding, whether civil or criminal, is begun that, in Lenc�er'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 Security Instivment. Borrower can cure such a default and, if accelerarion 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 5ecurity 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 Proceeds that aze not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Secrion 2.
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1l01
<br />VMP � VMP6fNE) I1105)
<br />Woiters Kluwer Financial Services Page 10 of 17
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