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<br />satisfaction, provided that such inspection shall he 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 agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Praceeds, Lender sha11 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 shall be
<br />applied in the order provided for in Section 2.
<br />In the event of atotal taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall
<br />be applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paici 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 Properly immediately before the partial taldng, desttuction, or loss in value is equal to or greater than the
<br />amount of the sums secured by this S�uriry Instrument immediately before the partial taking, destruction, or
<br />Ioss in value, unless Borrower and Lender otherwise agree in writing, the sums se.cured by this Security
<br />InsCrument sb.all be reduced by the amount of the Miscellaneous Procceds multiplied by the following
<br />fraction: (a) the total amount of the sums secured immediately before the partial taking, destrucrion, or loss
<br />in vatue divided by (b) the fair market value of the Property immediately before the partial taldng,
<br />destruction, or loss in vatue. Any balance shall be paid to Borrower.
<br />In the event of a partial talfing, destruction, or loss in vatue of the Praperty in which the fair market value of
<br />the Property im�tediately before the partial talQng, destniction, or Ioss in value is less than the amount of the
<br />s�ns secured immediately before the partial taking, destructian, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the 1t�iscellaueous Praceeds shall be applied to the sums secured by this
<br />Security Instriunent whether or not the sums are then dve.
<br />If the Property is abaudaned by Borrower, or if, after notice 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 norice is given, Lender is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Pro�rty or to the sums secured by this
<br />Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Misc,ellaneous Proceeds or the party against whom Bonower has a right of action in regard to Miscellaneous
<br />Proceeds.
<br />Boixower shall be in defauIt if any acrion or proceeding, 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 />Properly or rights under this Security Instnunent. Borrower can cure such a default and, if acceleration has
<br />occurred, reinstate as provided in Secrion 19, by causing the acrion or proceeding to be dismissed with a
<br />n�ling 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 Insnvment. The proceeds of any award or
<br />claim for datnages that are attributable to the impairment of Lender's interest in the Properiy aze hereby
<br />assigned and sha11 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-S(ngle Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Financial Services
<br />Form 3028 1/01
<br />VMPB(NE) (1705)
<br />Page 10 of 17
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