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201108105
<br />modifying the mortga�e insurer's risk, or reducing losses. If such agr�ment provided that an aff'iliate of Leader
<br />takes a share of the msurer's risk in exchange for a share of tbe pretmums paid to the insurer, the arrange�nt is
<br />often teimed "caprive reinsuraace." Further:
<br />(�) Any such agreeme�s will not aff'ect the amonnts th�t Borcawer has agrced to pay for Mortgage
<br />Insnrance, or any ather. terms of the Loan. Such agreements will not increase the amoant Borrower will
<br />owe for Mortgage Insaraace, and they will not entitte Borrower to any refund.
<br />(b) Any such agreements will not affert the rights Borrower has — if any — with respect to the
<br />Mortg�ge Insurance under the Homeowners Proteetion Act of 1998 or any other law. These rights may
<br />include the right to receive certain disclosures, to requ�t and obtain cancellation of the Mortgage
<br />Insnr�nce, to have the Mortgage Inaurance terminated automatically, and/or to receive a refund of any
<br />Mortgage Insarance premiums that were unearned at the time of such cancellation or termination.
<br />11. Assigr►ment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid ta Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds sliall be applied to restoration or repair of the
<br />Properly, if the restoration or repair is economically feasble and Lender's security is not lessen�. During such
<br />repau aad restoration period, Lender sha11 have the right to hold such Miscellaneous Proceeds until Lender bas
<br />had an appornwity to mspect such Property to ensure the work has been completed to Lender's satisfactioq
<br />provided that such mspection shall be undertaken prom�fly. Lender may pay for the repairs and restoration in a
<br />smgle disb�senient or in a seri� ofprogress gaymeats as the work is completed. Unless an agreemellt is made in
<br />writing or Applicable Law requires interest to � paid on such Miscellaneaus Praceeds, Lender shall nat be
<br />required to $a.y Borrower any �aterest or earaings on such Miscellaneous Praoeeds. If the restoration or repair is
<br />not �anouncally fe�sible or Lender's security wauld be 1�sened, the Miscellaneous Proceeds sha11 be applied to
<br />the sums secured by ttus Security Inshwnent, whether or not then due, with the excess, if any, paid to Borrawer.
<br />Such Miscellaneous Praceeds shall be applied in the order provided for in S�tion 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
<br />shall be applied to the sum.4 secured by this Security Instrument, whether or nat then due, with the excess, if any,
<br />paid to Borrower.
<br />In the event of a pazrial t 1�;na destruction, or loss in value of the Property in which the fair �rket value
<br />of the Property immed'aately before the partial taking, destructian, or lo�c in value is equal to ar greater than the
<br />amount of the sum� secured by this Secwity Instru�nt immediately before the partial talang, destructian, or loss
<br />in vatue, unless Borrower aad Lender otherwise agree in writing, tlie sums secured by this Security Insttumeat
<br />sball be reduced hy the au�unt of the Miscellaneous Froc�ds multiplied by the fallowiag fractian: (a) the total
<br />amouat of the sums s�ured immediately before the partial taking, destnaction, or loss ia value divided by {6) the
<br />fair market value of the Property immediately before the partial taking, destruction, or l�s in value. Any balance
<br />shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss ffi value of the Property in wluch the fair u�rket value
<br />of the Property immediately before the partial taking, des�uctian, or loss in value is less than the amount of the
<br />sums secured immediately before the partial taking, d�truction, or loss in value, unless Borrower and Lender
<br />otherwise agree in writing, the Miscellaneous Praceeds s�all be applied to the sums secured by this Security
<br />Instrument whether or not the sums are then due.
<br />If the Praperty is abandoned by Barrower, or if, after notice by Lender ta Borrower that the Opposiag
<br />Pazty {as defined in the next seatence) offers to ma.ke an award to settle a claim for damages, Barrower fails to
<br />respond ta Lender within 30 days after the date the aotice is given, Lender is authorized. to collect and apply the
<br />Miscellaneous Proceeds either to restoration or repair of the Property or ta the sums secured by this Secuua�iity
<br />Inshwnent, whether or uot then due. "Opposing Pa,rt}J" means the third pafiy th�t owes Borrower Miscellaneous
<br />Proceeds or the party against whom Barrower has a right of action ia regazd to Miscetlaneous Proceeds.
<br />Borrower shall l� in default if any action or pr�eeding, whether civil ar crixninal, is begun that, in
<br />Lender's judgment, could re.sult in forfeiture of the Properiy or other material impairment of Lender's interest in
<br />the Property or rights under this S�urity Inshun�nt Borrower can c�e such a default aad, if acceleration has
<br />occurred, reinstate as pmvided ia Se�tion 19, by causing the action or proceediag to be dismissed with a rul'rng
<br />that, in Lender's judgu�ut, preclud� forfeiture of tlie Property or other material impairnient of Lender's interest
<br />in the Property or nghts under this Security Instnuneat Tlie proceeds of any award or claim for damages that are
<br />atfributable to the impaiiment ofLender's interest in the Properiy are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Pr�eeds that are not applied to re.storation or regair of the Froperty shall Ue applied in
<br />the order provided for in Secrion 2.
<br />12. Borrower Not Relemaed; Forbearance By I�nder Not a Waiver. Extension of the ti� for
<br />paymeat or modification of amortization of the sums se�ured by this Security Instrument graated by Leader to
<br />Botrower or any Suceessor in Interest of Borrower shatl not operate to release the liability of Borrower or any
<br />Successors in Interest of Borrower_ I.eader shall not be required to cammence pr�eedings against any Successor
<br />in Interest of Bonower or to refx�se to extend ti� for payment or otherwise m�ify affiomzation of the sums
<br />secured by tbis Security Instrument by reason of any demand m�de by the original Borrower or any Successors ia
<br />Interest of Borrawer. Any farbearance by i,ender in exercisin� any nght or remedy inciudiag, without limitarian,
<br />Lender's acceptance of pay�nts from third persons, enrities or Successors m Interest of Bonower or ia
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or re�dy.
<br />13. Joint aad Sever�l Liability; Co-signers; Successors and Assigns Bound. Bonower covenants
<br />and agrees that Borrower's obligations aud liability sha11 be joint and several. However, any Borrower who co-
<br />signs this Security Instruwent but doe.s not execute the Note (a "co-si�ner"�: (a) is co-signiug this S�urity
<br />Insttvment only to mortgage, grant and convey the co-signer's mterest m the Pro�riy under the ter� of this
<br />Security Instrument; (b) is nat personally obligated to pay the sums secured by this Security Instru�nt; and (c)
<br />agrees that Lender aad any other Borrower can agree to extend, modify, forbear or make any accommadations
<br />wiith regard to the tecros of ttus Security Inst�ument or the Note without the co-signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borr�ver who assumes Boirower's
<br />obligations under this Security jn.ctn,ment in writing, and is approved by Lender, shall abtain a11 af Bonower's
<br />rights and benefits uader this Security Instru�rent. Borrower shall not be released from Borrower's obligations
<br />and liability under this Security Instrument unless Lender agrees to such release in writ�g The covenants and
<br />agreetnents of this Secunty Instrument shall bind {except as provided in Section 20) and benefit the successors
<br />and assigns of I.ender.
<br />14. Loan Charges. Lender may charge Borrower fees for services gerforn�d in connection with
<br />Bormwer's default, for the pur�ose of prote�ting Lender's interest in the Properiy and rights under this Security
<br />Insh including, but aot lmnted to, attameys' fees, propertyinsp�tion and valuarion fees. In regard ta any
<br />NEBRASKA—Single Famity—Fannie Mae/�Yeddie Nlgc ITNIFORM INSTRUMENT Modifled Form 3028 U01 (page 6 of 9 pages�
<br />22USO.CV (Sli l) 141625 CreaHve T6inldng, Ina
<br />GOTO(002c7e7�
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