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201108�94
<br />the premiums required to maintain Mortgage Insurance in eff�t, or to provide a non-refundable los� reserve, until
<br />Lender's requirement for Mortgage Insurance ends in accordance with any written agreement betwee � Borrower and
<br />Lender providing for such termination or until termination is required by Applicable Law. Nothing� in this Section
<br />10 affects Bonower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain loss it may incur
<br />if Borrower does not repay the Loan as agreed. Bonower is not a party to the Mortgage Insurance.�
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and� may enter into
<br />agreements with other parties that shaze or modify their risk, or reduce losses. These agreements ar on terms and
<br />conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agr ments. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the m rtgage insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agr�ments, Lender, any purchaser of the Note, another insurer, any reins er, any other
<br />entity, or any aff'�liate of any of the foregoing, may receive (directly or indirectly) amounts that derive om (or might
<br />be characterized as) a portion of Bonower's payments for Mortgage Insurance, in exchange for sharin or modifying
<br />the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share
<br />of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement s often termed
<br />"captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe
<br />for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to�the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. The.se rights may in lude the right
<br />to receive certain disclosur�, to requ�t and obtain cancellallon of the Mortgage Insurance, to have the
<br />Mortgage Insurance term�nated automatically, and/or to receive a refund of any Mortgage Insura ce premiums
<br />that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; ForFeiture. All Miscellaneous Proceeds are her by assigned to
<br />and shall be paid to Lender.
<br />If the Properly is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair f the Property,
<br />if the restoration or repair is economically feasible and Lender's security is not lessened. During s ch repair and
<br />restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lend� r has had an
<br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction; provided that
<br />such inspection sha11 be undertaken promptly. Lender may pay for the repairs and restoration in a singl disbursement
<br />or in a series of progress payments as the work is completed. Unless an agreement is made in writin or Applicable
<br />Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Bonower any
<br />interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not e.conomically feasible or
<br />Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured y this Se.curity
<br />Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous oceeds sha11
<br />be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Prbceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, 'f any, paid to
<br />Bonower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair ket value of
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br />of the sums secured by this S�urity Instrument immediately before the partial taking, destruction, o loss in value,
<br />unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument s�all be reduced
<br />by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amownt of the sums
<br />secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair marlcet value of the
<br />Property unmediately before the partial taking, destruction, or loss in value. Any balance shall be pai to Bonower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair ket value of
<br />the Properly immediately before the partial taking, destruction, or loss in value is less than the amo t of the sums
<br />secured immediately before the partial taking, destruction, or loss in value, unless Bonower and Le�der otherwise
<br />agr� in writing, the Miscellaneous Proceeds sha11 be applied to the sucns secured by this Security Inst � ent whether
<br />or not the sums aze then due.
<br />If the Property is abandoned by_Bonower, or if, after notice by Lender to Bonower that the Opp sing Pariy (as
<br />defined in the next sentence) offers to make an awazd to settle a claim for damages, Bonower fails' to respond to
<br />Lender within 30 days after the date the notice is given, Lender is authorized to coll�t and apply the iscellaneous
<br />Proceeds either to restoration or repair of the Properly or to the sums secured by this Security Inst ent, whether
<br />or not then due. "Opposing Party" means the third party that owes Bonower Miscellan�us Pr s or the pazty
<br />against whom Bonower has a right of action in regazd to Miscellaneous Proceeds.
<br />Bonower shall be in default if any action or proceeding, whether civil or criminal, is begun th t, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment of I.ender's interest ' the Property
<br />or rights under this Security Instrument. Bortower can cure such a default and, if acceleration has occ ed, reinstate
<br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
<br />judgment, precludes forfeiture of the Property or ottier material impairment of Lender's interest in e Property or
<br />rights under this Security Instrument. The proceeds of any award or claim for damages that aze a butable to the
<br />impairment of Lender's interest in the Property are hereby assigned and sha11 be paid to Lender.
<br />All Miscellaneous Proceeds that aze not applied to restoration or repair of the Property shall be applied in the
<br />order provided for in Section 2. ;
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Form 3028 1/01 Page 6 of 7 7
<br />DoqNeglc �oa�
<br />ww�. docmaglc, com
<br />Ne3028.dot.�rml
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