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201108589
<br />451II0794
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During
<br />such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br />Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
<br />sarisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br />restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an
<br />agreement is made in wriring or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br />Lender shall not be required to pay Borrower any interest or earnings on such MisceIlaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower, Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shatl be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater
<br />than the amount of the sums secured by this Security Instrument immediately before the partial taking,
<br />destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this
<br />Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the
<br />following fraction: (a) the total amount of the sums secured immediately before the partial taking,
<br />destruction, or loss in value divided by (b) the fair market value of the Property immediately before the
<br />partial taking, destruction, 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
<br />value of the Property immediately before the partial taking, destruction, ar loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by
<br />Borrower, or if, after notice by Lender to Borrower that the Opposing Parry (as defined in the next sentence)
<br />offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days
<br />after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then
<br />due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party agaittst
<br />whom Borrower has a right of acrion in regard to Miscellaneous Proceeds,
<br />Borrower shall be in default if any action or proceeding, whether civil or crimina�, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest
<br />in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration
<br />has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lender's judgment, precludes forfeiture of the Froperty or other materiat impairment of
<br />Lender's interest in the Property or rights under this Security Inst7z�ment. The proceeds of any award or clairn
<br />for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned
<br />and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shalt be
<br />applied in the order provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
<br />payment or modification af amortization of the sums secured by this Security Instrument granted by Lender
<br />to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or
<br />any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any
<br />Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization
<br />NEBRASKA--Single Family--Fannie Mae/F'reddie Mac UNIFORM INS1TiUMENT
<br />� 338.5 Page 9 of 14 Form 3028 2/01
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