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2n12n529ti <br />cantinece to pay to Lender the amount of the separatcly dc�'sgnated payments tha.t wete due whea the <br />inaurance covcrage ceased to be in effecl. Lender �vill accegt, use and retain these payments as a <br />non-refiardablc loss reserve in liea of Mortga�c Insurancc. 5uch ioes r�.sesve s6a11 bc nan-refimdablc� <br />notwil6standing the fact that the Loan is utfimately paid 'm fuli, and Lendec sball not be rc�uired to psy <br />Bocrower sny interest or eerniags oa such loss rr�serve. Lender oan no longer reqnire io� resarve payments <br />if AAortgage Tneutance caverage (in the umouat and for the period Wat Lender requires} pravide� by an <br />innw�er sefected i�y Lu-acier agrain bcxi�mei, uvssilable, is ubtainecl, and L��iet requitex beparntaiy detii�natted <br />payments toward t6e premiusns for Mortga�e Insurance. If Lender rec;uire� Martgage Imlusnce as a <br />caadidau of making the Lo�n and Honawer was reqoired to make separately designated paymenFS toward the <br />preminms for Mortgage Insurunce, I3orrower sha�l pay th� prezniums requirat to maiatain Mortgage <br />Ins�uance in et�ect, ar io pmvide a non-refuaciable loss re�etvz, antil Leader's requiremeni for Mort�age <br />Insurance ends in accardance with any wrirtcn agrcxmcnt bctween $orrower and Lendcr providiug for such <br />terminaYion or uatit tetmination is r�uired by Applicable I.aw. Nathing in tbia S�crion lU affe�ts <br />Bormwex's obligation to pay inierest at ihe nate provided in the Note. <br />Morlgtige [n,suranc:e reuaburses Lender {ur riny antity lhat purciwses ihe Notr) for certain los� it mny incur <br />if Botmwer eioes nol repay !he Loan xs agreecl. &�rmwer is nal a party tc► the Mnrtgage Insurancc. <br />Mortgage insurers cvaluate their total risk on atl such insur�tncc in force from time to time, aud may enter <br />into agseemcnts arith ot6er paslies d�at share or modify the'v risk, or reduce losses. �'h�se agreements are r�n <br />tecros and conditioas that are �tisfactary ta t�e mortgage insurer and the athcx pacry (or pmti�) tn these <br />agrecm�nts. Thc�c agrccments may requirc the mottgage is►s�uer to makc puyments vsing any s�u;rec of fimds <br />tFitat t8e martgag„e insurer may have ava.ilahle (which may inclucic fimds obtained from Mortga�� Tnsw�ance . <br />preminms). <br />As p result of these agreements, Lercder, any purchaser of thc Nota, another ins��ret, any reinsurer, any other <br />�ntiiy, ar srry uf6lisie of any nf the foreguing, may rec:4ive (directly ar indirextly) am�iunts ihut eleriv� fmm <br />(or snight be eharacterized as) a gortion of Bocrowet's payments for Martgage Insurance, in eacchange for <br />slr�ring ot modifying the mortgaga insurer's risk, or reducing losses. If such ap,reement pravides that an <br />affiliate of Lender takes a s�are nF the msurer's ris� in enchange for a sirare of t�te pretniums paid to the <br />ins�uer, fhe auaage�ment is ofYen termed "capt�ve rcinsu�nce." Further: <br />(�) A�y sueh agre�ments wflU not affcct thc amo�nts that Boerower has agrced tn pay lor Mortgage <br />Insurant� or any other tcrms of the Loan. SucJ► agxeementa wfII not inereasc the amaant <br />Burrower �vill owe fur Murtgage Iosuraau, and they wili not enliti� Bon�awer tu aoy refand. <br />(b) Any such agreements will nnt aliect thc rights Borrnwer h�x - if any - with respect to the <br />Mortgage Insurance u�er the Homruwners Protection Act of 1998 ar aay other law. Tbese rights <br />may inelude the right to receive eertain disslosurres,, M request and obtam cancellaEion ot f�fie <br />Mortga�e Insurance, to f�ave t6e Mortgage Iasuwance terafirtate@ automatieally, sud/or to r�ive <br />a refaad of arry Martgage Iasurance premioms t6at v�ere unearned at t�e ttme of such <br />�neeUafion or rermination. <br />99. Assignmentof AA1st�Ilaneau�roc�ds;Forfeltur�.All Miscellaneous Proeeeds are hereby aesigaed ta <br />and sh�ll be puid to Lender. <br />iF th� Prc�perty i�; damegr�l wc:h Misu:ellanec�us Pnn:eecis :thail6e appliex! En re�toratiun or t�epair of the <br />Property, if the restocation or repair is esonomically feas�ble aad Lender's security is not lessencd. During <br />such repair �d restoratioa period, Leader shatl have the right to hnld sach Miscellaueous Proceeds nnti( <br />Lemder has I�ad an oppartunity to inspect sach Property to ensure the wark has been camp[eted to Leader's <br />V � � KASi�1e Fandiq.�annie AA�IFreddie AAae UNFFOAM INSTRUMENT Femt �28 9W7 <br />1Nd6ets I�tnret Ftnancrai Servk86 ��INE) (17Qb�.00 <br />Page B et 17 <br />