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201108055
<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 agr�ment is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellan�us Proce�s, 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
<br />be lessened, the Miscellaneous Proc,ee�is shall be applied to the sums se,cured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Bonower. Such Miscellaneous Proceeds shall 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 Miscellan�us Proceetls shall
<br />be applied to the sums s�ured 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, destruction, or loss in value is equal to or greater than the
<br />amount of the sums secured by this Security Instnunent immediately before the paztial 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 Procceds mulriplied 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 paztial taking,
<br />destraction, or loss 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
<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 Bonower and
<br />Lender otherwise agre� in writing, the Miscellaneous Proceeds shall be applied to the sums securerl by this
<br />5ecurity Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the Opposing Pazty
<br />(as defined in the nelct 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 notice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Properry or to the sums s�ured by this
<br />Security Instrument, whether or not then due. "Op�sing Party" means the third party that owes �rrower
<br />Miscellaneous Proceeds or the party against whom Borrower has a right of aetion in regard to Miscellaneous
<br />Proceeds.
<br />�nower shall be in default if any acrion or proc,eeding, 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 Security Instrument. Bonower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in 5ection 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 Instrument. The procceds of any award or
<br />claim for damages that aze attributable to the impairment of Lender's interest in the Property are hereby .
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Proce�is that aze 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 UNIFORM INSTRUMEPIT
<br />VMP p
<br />Wokers Kluwer Flnencial Servic�
<br />Form 3028 1/Ot
<br />VMPB(NE) (110b)
<br />Page 10 of 17
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