|
2U1108627
<br />of the sums secured by this Security Instnunent immediately befoze the partial taking, destnxction, ar loss in value,
<br />unless Borrower and Lender othezwise agree in writing, the surns secured hy this Security Iz�strtament shali be reduced
<br />by the amount of the Miscellaneons Froceeds rnulti�lied by the following fracrion: (a} the totat amount of the surns
<br />secured immediately before the partial taking, destruction, or Ioss in value divided by (b) the fair maxket value of the
<br />Property immediately before the partial taking, destruction, or Toss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taldng, destruction, or loss in value of the Pxoperty 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 o# the sums
<br />secured immediately before the partial taking, destruction, or loss in value, untess Borrower and Lender otherwise
<br />agree in wcixi.ng, the Miscellaneons Pro�eeds sha11. be applied to the sums secureti by this Security Instrument whether
<br />or not tbe sums are tlzen due.
<br />Tf the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to mai�e an award to settle a claim for daniages, Barrower faiJs to resporid to
<br />Trender vvithin 30 days after the date the notice is given, Lender is autharized ta collect and apply the Miscellaneous
<br />Praceeds either to restoration ar repair Qf ttxe Property or to the snms se�ured by this 5ecurity Instruznent, whether
<br />or not then due. "Oppasing Parry" means the tliird parry that owes Bozxawer Miscellaneous Proe�eds or Ehe parry
<br />against whom Borrower has a right o� action in regard to Miscellaneous Pzoceeds.
<br />Bor.cower shall be in default i£ any action or proceeding, whether civil or criminal, is begun that, in 1.ender's
<br />judgment, could result in forfeiture of the Property or other material impa7�„Pnt of Lender's interest in t�e Properry
<br />or rights unrler this Security Instrumeut. Borrower can cure sueh a defauJ.t and, if acceleration has occurred, reinstate
<br />as provided in Section 19, by eausing the action or proceeding to be dismissed with a ruiing that, in I.ender's
<br />judgnent, preclndes forfeit�ue of the Property or other material impairment af Lender's interest in tlze Property or
<br />rights under this Security Instnunent. The proceeds of any award or clai.m tar damages that are attributable to the
<br />irnpairmern of Lender's intezest in the Property are hereby assigned and shail be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restorarion or repair of ihe Fxoperty shall be applied in the
<br />order provided for in Section 2.
<br />12. Borrawer Not Released; Forbearance By i.ender Not a Waiver. F,�ctension of the rime for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Bozxawer az any
<br />Successor zn Interest of Borrovver shall not operate to release the liability of Boxrower or any Successors in Irnezest
<br />of Borrower. L.ender shall not be required to commence proceedings against any Successor in Interest of Borrower
<br />or to refuse to extend time for payment or otb.erwise modify amoztizatzon of rhe suzus secured by this Security
<br />Instntrnent by reason of any demand made by the original Borrower or any Successozs in S�a.terest of Borrower. Any
<br />forbearance by I.ender fn exercising any rfght or remedy including, wixhout lunitation, Lender's acceptance of
<br />payments from thizd pe:rsons, entities ox Successors in Interest of Bonrawer or in axnounts less thax► the anwunt ttien
<br />due, shall not be a waiver of or preclude the exexc�se af any ri.ght oz reznedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees
<br />that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs t1�is Secuz�ty
<br />Instrument but does not exec�ite the Note (a "co-signer"): (a) is co-signing this Security Instnunent only to nnortgage,
<br />grant and convey ihe co-signer's interest in the Property under the terms of this Security Instniment; (b) is not
<br />personaIly obtigated to pay tlie sums secured by this Seeurity Instzvment; and (c) agrees that Lender and any other
<br />Bonower can agze� to exten.d, znodify, forbeax or make any acrAmrnodations with regard to the terrns of this Security
<br />Instrwnent ar the Note withaut the co-signer's consent.
<br />Subject to �e provisions o£ Section 18, any Successor in Interest of Borrower who assumes Borrower's
<br />obligations under this Security Instzua�.ent iun writin.g, and is approved by I,snder, shall obtaizz all of Borrower's rights
<br />and benefits unc�er this Sec�uity Instnunent. Eorrower shall not be released from Borrower's obiigations and Iiability
<br />under this Security Instn�ment unless Lendex agrees to such release in wc The covenants and agreements of tlus
<br />Security 7nstnunent shall bind {except as provided in Section ZO} aud bez�e�t Che successors and assigns of Lender.
<br />14. Y,oan Ch�rges. Lender may charge Borrower fae�s for services performed in connect�on with Borrower's
<br />default, for the purpose of pmt�ting 7.ender's interest in the Property and rights under this Security Tnstrument,
<br />including, but not lixnited to, attomeys' fees, property inspection and valuation fess. In regard to any other fees, the
<br />absence of express authority in this Security Instrument to charge a specific fee to Borrower shall nat be consmzed
<br />as a prohibition on the charging of such fee. Lender znay not charge fees that are expressly prohibi#ed by this Security
<br />Instnux�ent or by Applicable Law.
<br />If the Loan is subject io a taw which sets maximum loan charges, and tb.a# law is finalZy intezpre#ed so that the
<br />interest or other loan charges coIIe�te�i or to be collected in connection with the Loan exceed the permitted limits,
<br />then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted timit;
<br />and (b} any suzns already callected fxom Borrower which exceeded permitted limits will be refuxtded to Borrower.
<br />Lendez may choose to make this ref�d by reducing the principal owed undar the Note or by making a direct payment
<br />to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
<br />prepayment charge (whether or not a prepayuzent charge is provided for undex Lhe Note). Borrawer's acceptanee of
<br />any suck refund made by direct payment to Borrower wi11 constituze a waiver of any right af action Borrower might
<br />have arising ouf of such ovexcharge.
<br />15. No�ices. All natices given by Borrawer or Lender in connection with this Secuxity Instrurnent must be in
<br />writing. Any notice to Borrower in eonnection with this Security Instru.ment shall be deemed to have been.given. to
<br />Bornower when xr►.a�iled by first class mail or when actuatly delivered to Bvrrower's notice address if sent by a�her
<br />rnieans. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law exgressly requires
<br />otherwise. The natice addzess shall be the Property Address unless Borro�arer has designated a substitute notice
<br />address by notice to I,ender. Borrower shall promptly notify I.ender of Bozrower's change of address. Tf Lender
<br />NEBRASKA--Single Famity�-Fannie Mae/�reddie Mac UIUIFORM If�lSTRUMENT - MERS
<br />Form 3028 1/Ol Page 7 of 1 1
<br />xe3oQe.�a.um
<br />
|