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201206086 eontiuue to pay W Lende� Che amount�f tlie sepaa'ately designaCed paymenfs that were duc when the iiisuranee coverage ceaaed to be in effect. Lender wili accept, use flnd retaiu thesc paymeuYs ns 2 non-refundable loss reseive in lieu of Mortgage Insurance. Such loss reserve shaLL �e uon-retundable, ❑otwiCl�standing the fact that tho L,oan is ultimaYely paid in full, and Lender eliall nnt be required to pay � � Barrower amy iiiteresl or earnings on sitch loss reserve. 1,ender can no longer reyuicc lass reservepayments if'Mortgage Ineurance covecage(in tl�e amount and for the period that LeitUer requires) provided by an insurer selacted by Lender again vecoines available, is obtained, �md Lender reqtiiires separately designaCed payments toward the premiums for Mor[gage Insurauce. If Le�icier rcquired Mortgage Insurancc as a eondition of makiug tl�e Loan and Rorrower w1s required to make separaCely desi;n.iced payments toward the premiums for Mortgagc lnsuranee, Borrower shall pay Che premiume required to maintain Mortgage lnsurance in effect, or[o�rovide a non-relundable loss reseive, until Lender's requirement fur Murl°a�e Insurance ends in accordencc wich any wriYten agreement bc6ween Borrower and I,eiider providing fox such termination or until termination is cequired vy Applicable Law. Nothing in tl�is Section 10 affects Borrower's obligation to pay iutexest at the rate provided in the Note. Moctgage H�surance rcunburses Lender (or any entiCy t1�aC purchases tfle Note) for ccr[ain losses it may incur if Borrower does not repay the Lovi as agreed. Borrower is not a party to tl�e Mortgage Ii�surance. Mortgage insucers evaluaCe their total risk on all such insurance in Porce from tiine to time, and may enter into agreenients wi�h oCher parCies tliat shtire or niodlfy their risk, or reduce luescs. "fhese agi'eements are on [emis ai�d condiCions tliaf are sntisf�ictory to llie mortgage insurer .md tlie oCher parry (or parfies) to thesc agrccmenes. These agreements may require the morCgage insurer to make payn�ents using �my source of funds that the moxegage iusurer i�iay have availa�le (which may include fimds obtaived from Mor�gage insurance premiums). As a resutt of these agreements, Len�lei, any purclixscr oC the Note, auotlier insurer, any reinsurer, any other �entiCy, or any afPiliate of any �f the foregoing, may receive (direcCly or indirectly) amouuts that derive ti�om (or might be charactecizecl as) a portion oPl3on�ower's payme�ts Yor MorCgage Insurance, in exchange Por sharing' or modifying the mortgagc insurer's risk, or reducing lc�sses. iF sueh agreement providos fhat an affiliata of Lender ttikes a share of the insurer's risk iii exchange for a sh2re of tlie pr�miums pai(f to the insarer, tlie artni�gcmant is often termed "capdve reinsurance," F�u�ther: (a) Any sqch agreements will not affect the�mounts tliat Borro�ver ht�s agreed to pay for Mortgage Insm•ance, c�r auy otlirn•tcrms of the I.oan. Sneh agrccments will not increase tlic amount Bm�rower will owc fur Murtgage Insurance, and iliey will nof eutttle Bon•owor to a�zy re1'und. (b) Any stiich egree�nents will�iut afPect Che righYs Borrower has-iP any -witli respcct to the NIortgage Insurance under Ctie Flomeowners Protec�tioii AcC of 1995 or any other law. '17iese rigl�ts may include the righC to receive cei�tain disclosures, to reqnesY and obtain cn�zaellatimi oP Che Mortgt�ge I�isurauce, to have thc Mortgnge Insarance termivated automr�tically, and/or to rcccivc a refmxl oF any Mortgage Insurauce premiums tht�t were anearned at the Cixne of auch cancellation or Cerinination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Procseds are hereby assigned to and shall be paid to Lender. IY the Property is damaged, such Miscellancous Proceeds shall be aippIied to resforation or repair of the Proper[y, if tl�e restoration or repair 3s economically feasible and I.ender's securiYy is not lessenod. Duriitg such repair and restoration per'rod, Lender shall have the righC to hold sucli Miscellaiieous Proceeds unCil Lei�der has had an opporrimiey Co inspect such Properfy to ensure the work has becn completed to Lender's ___ _. znoaieaa NE8RA61<A-3inplo FamllY-fannie MunlFreddle Mzc UNIFORM INSTFUMCNT Fonn 302t1 i101 VMP� VMP6INEI f�1061 Wul�ei e ICluwnr Fli ieneiel Sarvims Papa 9 a I 1 a