|
201108381
<br /> satisfactiion, provided tha�such inspection shall be undertalcen promptly. Lender m�y pay for the repairs
<br /> aiid restoration in 1 siilgle disbursement or in a series of progress payinents as t11e worlc is coinpleted.
<br /> Unless an agreement is made i,n writing or Applicable Law rec�uires interest to Ue paid on such
<br /> Miscellaneous Proceeds, Lendei•shall not be required to p1y Borrower aiiy interest or earniilgs on such
<br /> Miscellan�ous Proceeds. If the restoration or repair is not ecolloinic�lly feasi1�le or Lender's sacurity would
<br /> Ue lessened, tlie Miscellaneous Proceeds shall be applied to th�sums secured by this Sectirity Instrument,
<br /> whether or not than due, witli the excess, if any, �aid to Borrower. Such Miscella�leous Proceeds s11a11 be
<br /> applied in the order provided for in Section 2.
<br /> In the event of a total talcing, destruction, or loss in vahie of tha Property, the Miscellaneotits�Proceeds sliall
<br /> be applied to the suills secured by this Securitiy InstrLUnen1;, whether or not then c�ue, with the excess, if uiy;
<br /> paid to Borrower.
<br /> In the eveizt af a partial talcing, desti�uction, or loss in valtite ol the 1'roperty in which the fair marlcet vtilue of
<br /> t11e T'roperty iminediately beLore tha pas•tia.r talcing, destruction, or loss in v�ltiie is eq�ial to or greatier tha�i the
<br /> amount of the sums secured by this Secui�ity Instrtunent ilninecliately l�efore the partial talcing, dest�uction, or
<br /> loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured Uy this Security
<br /> Instrtunent shall be reduced by the asnount of the Miscellaneous Proceeds multiplied by the following
<br /> fraction: (a)the total a�nount of the suins sectiired ii2imediately l�efoi•e the pattial talciug, destruction, or loss
<br /> in value divided Uy(b)�he fair marl�et v�lue oP the Property iminediately before the partial talcing,
<br /> destruction, or loss in value. Any balance s1za11 Ue paid to Borrower,
<br /> Iii the event o�a plrtial t�lcing, destrtiiction, or loss in vahle of tihe Pro��erty i�i whicl7 the fair market value of
<br /> the Property iirunediately be�ore t11e partial talcing, clesti�ict'ias�, or loss ui value i�less than t11e amotint of the
<br /> stuns secured immediately before the pa1•tial talcing, destruction, or loss in value, unless Borrower and
<br /> Lender otherwise�tgree in wi•iting, the Miscell�neous Proceeds shall be applied to the sums securecl by this
<br /> Security Iiistrunient whether or not the sums 1re then due.
<br /> If t17e Property is abandoned by Borrower, or if, after notice by Lendar to Barrower thlt the Opposing Party
<br /> (1s defined in the next sentence) offers to iiialce an award to settle a claim for daiillges, Borrower fails to
<br /> t•espoilc�to Lender within 30 d�ys after the date the notice is given, Lender is authorized to collect and ap�ly
<br /> the Miscellaneous Proceecls either to restoration or repair of the Property or to the suins secured by this
<br /> Security Instrument, whether or not then due. "Ol�posing P�rty"means the third p�rty that owes Borrower
<br /> Miscellaneous P�•oceeds or tlis party a��inst whom Borrower h�s a right of action in regard to Miscellaneous
<br /> Proceeds,
<br /> Borrower shall Ue in clefault if any action or proceecling, whether civil or criminal, is begun that, in Lender`s
<br /> jtiidg�eni, ooulci result in I"orfeitt�re ol tihe Proparty or other ilzaterial unpairinent of Lendor's interest in tl�e
<br /> Property or rights under tlus Security I1lstrument. Borrowei•can cure-suclz a default and, iF acceler�tition lias
<br /> occurred, reiilstate as provided in Section 19, Uy c�using the�ctioiz or proceeding to Ue dismissed wit11 a
<br /> rulii7g that, in Lender's judgment, preclucles forfeittu•e of the Property or other ma�terial irnpairment ol
<br /> Lender's interest in the Pro�erty or riglils under this Security Iiistrument. The pi•oceeds of any award or
<br /> clai7n for dam�ges th�t are attributable to the iinpairn�ent of Lender's interest in the 1'ropei°ty are hareby
<br /> �ssigned and sh�ll be paid to L,ender,
<br /> All MiscellaneoLis Proceecls tl�at are not�ppliec�to restoration or rep�ir of tlie Property shall Ue a�plied in the
<br /> order provided for in Section 2.
<br /> 231205
<br /> NEBRASKA-Single Family-FannleMae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br /> VM P O VM P6(NE)(1105)
<br /> Wolters Kluwer Financlal Services Page 10 of 17
<br />
|