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201200506 <br /> continua to pay to Lender the amount of tihe separakely designated payinents tihnt were dLie wheu Che <br /> insurance coverage ccascd t�bo in cf$ct. Le�ider will accept, nee and retiain these payments as a <br /> non-refimcinble loss reserve in lieu oP Morfgage Ins�n<1nco. Such losy reserve sha11 ba uo�-refundable, <br /> notwithstnnding Yhe £ect thflt the Loan is ulrimately paid in full, and Lender shall not be requiied tu pay <br /> Borrower a�ry niteiest or eariungs on auch loss reserva. Lender can no longer reqtliro loes rescrve paymei�ts <br /> if Mortgnge losurauce coverage(in tha zanount and ibr the period that Lender requires)provided by an <br /> insurer�elecCed Uy Lcmdrn�again bccomos availab1o, is obtained, and Lender requires separataly designeted <br /> psyinents townrd the pxemiiuna for Mortgage Insm�ance. Pf Lender required Mortgagc InsLU ance as a <br /> condition of malcing flie Loau anci Borrower was required to make sepw•ately designflte�i pnymen�toward Che <br /> ptemiums for Mortgagc insurance, Rorrower shall pay flie premieuns required to inaintain Mortgage <br /> Insur�nee in effeoC, ox to provide a non-refundable loss reserve, mifil Lender's roquircment for Mortgage <br /> Insm�a�ice ends in accordanca with any written agreeinent Uetween Borrower aud Lender providing for such <br /> terniivation or until to��i��ination is rey�iircd by App1ioable],aw. Nothin� in this Section 10 a�Ffects <br /> Borrowcr's obligation Co pay inCeresf at the rate provided in tl�e Note. <br /> Mortgage Insurvice reimburses T.,ender (or�a�y entity tbat purcl��ses fl�e Note) for eertia.in losses iC may incLu <br /> if Borrowcr docs noC repay the Loan as agreed. Borrower i�noC a party to t1�o M��rtgagc+Tnsurance. <br /> Mortgagc in�urcrs cvaluate their totxl ri�k on all such insurancc ii7 Furco f7om timc to timo, avd may cuter <br /> inCo a��eements wieh other perties fhnt share or modify their risk, ox reduce losaea. These agceen�ents are on <br /> terms and conditions that ace satisFaotory to the inortgage insurer and the other p�rty(or pax•ties) to Yhese <br /> a{,n�et�n�ut5. "I'heso agrccmcnts may rcquirc tihc mortgagc insurcr tio�nalco payments tuing any bource of funds <br /> 11iaC 11�e mortgnge inaurer may have available(wluch may include funds obtained fi�om NIortgaga Ivsurance <br /> prerniums). <br /> As a resnlh of tliese agxeemente, Lender, ntiy purchaser of the Note, nnother inaurer, any xeinsiirer, any other <br /> entity, or �ury affiliate of any of tlie f'oregoing, imy receive(diractly or indirectlyJ ainoLmts that darive fiom <br /> (or inighf be characferizec�as) a porfion of Ron�ower's payments for Mort�;age Iivsw�a�ice, in exchange for <br /> sharing or modifying thc mortgage insiuer's rislc, or reducing losse.s. IP euch agreemc�if peovides that.an <br /> flffilinke of Lender takes a share of the ineurer's risk in exchenge for a share of th�premiums paid Yo the <br /> insurer, the arrzugainent is often termed"captive reinsnrauce.° Purtl�er; <br /> (2) A�iy sucl� ngreententA will nat:�f'fect tlie :�momits tlixt Burrower li:�s :�greed to p:�y for Moetg:�ge <br /> Hienrance, or nny other terms of tlic Loan. Sncl� agrcements will not increase the flmount <br /> Borrorver��211 awe for Mm'tgxge Ins�[r;uice, and the3�will not entitle Borrower to nny refnnd.. <br /> (6) Auy anch agreemcnts will not nffcct tlic righte Sorrower l�as -if nuy-witli respect to tlio <br /> Mortgage Insar;mce mider the HomeuwuerS Protecf.ion Act uf 1998 ur any other Isiw. Tliese rigl�t,v <br /> may, include the righf to receive cerfain disclosirres, to reqnest xnd obTain c�incellatton of the <br /> Mortgage Ineurance, to l�1ve the Mortgage Insnranee Eerminated antmnatically, �nd/or to receive <br /> a refnnd of nny Mortga�c Lisi�rnncc prcminms that wcrc ancnrncd at tl�c timc of sncli <br /> cnncellat�on or teimination. <br /> 11. Assignment of M iscellaneous Proceeds; ForFeiture. A11 Miscellaneouy Yroceeds are hereUy Qesigned to <br /> and shnll be p2ici[o Lender. <br /> IC the ProperCy is dnmaged, such Miscellaneous Proceeds sl�all be applied ho resforallon or repair of Chc <br /> Propexty, if the restor�riou or repair is economioally feaeiUle and Lender's secuxity is uol lessened. Duriug <br /> such repair and rastoration period, Lander shall have the right to hald such Miscellaueous Proceeds uutil <br /> Lender has had an opportunity to inspect snch'Property to ensm'e flie work has Ueen completed to Lender's <br /> 24Q000]5 <br /> N E9f2ASKA-Single f-am Ily-Fennle M aelfretltlle M ac UNIFORNI INSTRl1M ENT Parm 3020 1 f01 <br /> vM P� V�N Pe(NE�(7105} <br /> Nlolters Kluwer Financlal Services Pege'J of 1� <br />