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2012035�v
<br />11110623A7
<br />unless Lender agnees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Iaisurarice as a condition of malang the
<br />Loan, Borrower sha11 pay the premiums required to mamtaain the Mortgage Insusa.nce in effect. I� for any
<br />reason, the Mortgage Tnsurance coverage required by Lender ceases to be available from the mortgage
<br />insurer i:kha.t previously provided such insurance and Borrower was required to make separaxely designated
<br />payments towazd the premiums for Mortgage Insura.nce, Boirower shall pay the premi�s required to obtain
<br />coverage substantially equivalent to the Mortgage Insurance previously in effect, �t a cost substanrially
<br />equivalent to the cost to Borrower of the Mortgage Insuraace previously ira effect, from an altemate mortga.ge
<br />insurer selected by Lender. If substantially equivalent Mortgage Tnsurance coverage is not �.vailable,
<br />Borrower shall continue to pay to Lender the amount of the separately designated payments tha.t were due
<br />when tlie msivance coverage ceased to be in effect. Lender wi11 accept, use and retain these payments as a
<br />non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refnndable,
<br />notwithstanding the fact that the Loan is ultimately paid in full, a�d Lender shall not he reqnired to pay
<br />Borrower any interest or eamings on such loss reserve. Lender can no Yonger requira loss reserve pay�ments if
<br />Mortgage Insurance covezage (in the amount and for the period that Lender requires) provided by an ins�uer
<br />sele,cted by Lender again becomes available, is obtained, and Lender requires sepaiately designated payments
<br />toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of
<br />making the Loan and Borrower was required to m�ke separa.tely designated payments toward the premiums
<br />for Mortgage Insurance, Bonrower sha11 gay the premiums required to maintain Mortgage Insurance in effect,
<br />or to provide a non-refnndable loss reserve, until Lender's requirement for Mortgage Insurance en.ds in
<br />accordance with any written agreement between Borrower and Lender providang for such terminexion or until
<br />ternaination is required by Applicable Law. Nothing ia this Section 10 a,ffects Bozrower's obligation to pay
<br />interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or auq entity that purchases the Note) for oertaia losses it
<br />may incur if �orrower does not repay the Loan as agreed Bosrower is not a party to the Mortgage Insurance.
<br />Mortga�e insurers evaluate their total risk on all such insuraace in force from t�e to time, and m0y
<br />enter into agreements g+ith other parties tha.t shaze or tnodify their risk, gr reduce losses. These agreements
<br />are on terms and conditions that are sa4isfactory, to the mortgage insurer and tlae other party (or parties) to
<br />these agreements. These agreements may requ.ire the moatgage ins�aer W make payme�ts using a� so�xrce of
<br />funds that the mortgage insurer anay have available (which may include fimds obtai.ned from Mortgage
<br />Insurance premiums).
<br />As a result of these agreements, Lender, arry purchaser of the Note, another insurer, any reinsuzer,
<br />any other entity, or any affiliate of any of the foregoing, ma.y receive (directly or indirectly) amounts that
<br />derive from (or mught be characterized as) a portion of Borrower's payments for Mortgage Insurance, itn
<br />exchange for sharing or modifying the martgag� iasure�'s risk, ar reducing losses. If such agreement provides
<br />that an affiliate of Leaiier takes a share of the insiuer's risk in exchange for a shaze of the premiums paid to
<br />the insurer, Che airangement is oftea termed °capfive reinsurance." Further:
<br />(a) Any such agreements wilY not affeet the amou�ts that Borrower has agreed to pa� for
<br />Mortgage Insnrance, or any other terms of the Loan. Snch agreements will not increase tlie amonnt
<br />Borrower vvill owe for Mortgage Tnsnrance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will npt a�ect the rights Borrnwer has - Yf aay - with respect to the
<br />Mortgage Insnrance nnfler the Homeowners Protecl3on Act of 1998 or any other la.w. These t3ghts may
<br />inclnde the right to receive certa'tn d3sc18sures, to reqnest and obtain eancellation of the Mortgage
<br />Tnsnrance, to have the Mortgage Insnrance terminated automatically, and/or to re.ce'rve a refand of a�
<br />Mortgage Insurance preminms that were �nearaed at the time of such eancellaiion or termination
<br />11. Assignment of MisceTlaneons Proceeds; Forfeitare. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to T.,ender.
<br />If the Property is da7m�a.ged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />NEB1tASKA—Smgle Famt7y—Fannfe MadFredd4e Mac UNIFORIi�i INS1`RUMLNT
<br />� 33&8 Page 8 of 14 Form 3028 U01
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