|
_ 201109428
<br /> satisfaction, provided that such inspection sh�11 be unclertaken promptly. Lender m�y pay for the repairs
<br /> and restoration in a single disburseinent or in a series of pi•ogress plyinents as the worlc is coiilpleted.
<br /> Unless an agreement is mnde in writing or Applic�ble Law requires interest to be paid on sucli
<br /> Miscellaneous Ps�oceecls, Lender�hall�1ot bo required to pay Borrower alzy interest or earnings ar1 sueh
<br /> Miscellaneous Proceeds. If the restoration or repair is not econonucally feasivle or T,ender's security would
<br /> be lessened, tllo Miscellaneous Proceeds sh�11�e applied to the sLUns secured by this Secttrity Instrunlent,
<br /> whetlier or not then due, with the excess, if azry, �aid to Borrower, Such Miscella.neous Proceecls sha111�e
<br /> applied in�he order provided for in Sectio�i 2.
<br /> Ii�the�vent of a tot�1 talcing, destruction, or loss in value of t17e Property, tl�e Miscellaneous Proceeds sha11
<br /> Ue applied to the sums secured by this Security Instrument, whether or not then c1ue, with the excess, if aiiy,
<br /> paid to Borrower.
<br /> In the event of a partial talting, destruetion, or loss in value of the Property in which t11e fair niai•ket value of
<br /> tlle Property immediately Uefore the�artial tialcing, destruction, or loss in value is equal to or grea�er tha�i the
<br /> a�nount of the suins secured by this Security Tnstrtunent iirui7ediately before the partial taking, destruction, or
<br /> loss in value, unless Borrower and Lender otlierwise agree in writing, the suins secured by ihis Security
<br /> Tnstrument shall be reduced l�y the amount of the Miscellaneous Proceeds multiplied by the following
<br /> fxaction: (a)the toEal�snount of the sums secLired iimnediat�ly Uafore the partial tialzing, destructi�n, or loss
<br /> ii7 value divided Uy(b)t11e fair inarket value of the Property iirui�ediately Uefore tlie pas•tial talci�g,
<br /> destruction, or loss in value, Any balance shall be paicl to Borrower.
<br /> In the event of a p�rtial talcing, destruction, or loss in v�Iue of tlle Property in wluoh tlze fair inarlcet value o£
<br /> tl�e Property irnmediately before the partial talczug, destiruotion, or loss in value is less tha�i the ainoluit of flie
<br /> sui��s secured invnediately before the partial talcing, destruction, or loss in value, Luiless Borrower and
<br /> Lender otiherwise agree iiz writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br /> Security Tnstrument whetller or not the sums are tlleri c�tte.
<br /> Irthe Property is 1Uaizdoned by Borrower, or if, after notice by Lender to Bozrower that the Opposing P1rty
<br /> (as de�ned iii the next sentence) offers to malce an award to settle a c1�im for dainages, Borrower fails to
<br /> respond to Lender witl�in 30 clays after the date the notice is given, �ender is �uthorized to collect aiid ap�1y
<br /> the Miscellaneous Proceeds either Co restoratioi�or repa.ir of the Property or to the suins securecl by this
<br /> Security Instrument, whether or not tlieii due, "Opposing P���ty" ineans the tihird party that owes Bori^ower
<br /> Miscellaneous Proceeds or�he pa1•ty against whoin Borrower I1�s a right of action in regard to MiscellatieaL7s
<br /> Proceeds.
<br /> Borrower s1za11 be in default if�i1y action or proceeding, whether civil or crii�lina.l, is begun that, in Lender's
<br /> judgment, could result in t'orfeit�Yre of the Property or otller inaterial iinpairinent of Lender's interest in the
<br /> Property or iights ut7der this Seeurity Instrument. Borrower can cure such a default and, iP acceleration has
<br /> occt�ri•ed, reinstate as provicled in Section 19, Uy causing the action or proceeding to ve dismissecl with a
<br /> rulii�g that, in Lender's judgn7ent, preclLides forfeiture of the Property or otl�er materi�l impairinent of
<br /> Lender's interest in the Property or rights under this Secttrity Instrument, The proceeds of�i1y awai•d or
<br /> claiin for dasnages that�re attributable to the impairment of Lender's in�erest in the Property are herel�y
<br /> assigned ancl shall be paid to Lender.
<br /> E111 Miscell�tneotls Proceeds thlt�re not applied to restoration or repair of the Pro�erty sha11 Ue 1�plied in the
<br /> order provided for in Sectiori 2.
<br /> 231234
<br /> NEBRASKA-SingleFamily-FannieMae/FreddieMacUNIFORM INSTRUMENT Form30281/01
<br /> VM P O VM P6(NE)(1105)
<br /> Wolters Kluwer Financial Servlces Page TO of 17
<br />
|