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201206906 continue to pay to Lender the amount of the aeparately designatecl pa�ments that wore due whcn tho insurance covcrago ccased to be in efFect. ].ender wi11 accept, use aud retain these payments as a. ��on-refundab(e loss reserve iit lieu of Morcgagc Insur<mee. SuoU loss reserve shall be nou-refuudaUle, nolwithstswd'nig tfie fnet th�Y the Lonn is ultimately paid in full, and Lendcr sha11 not bc rcc�uired to pay Borrowee any inYerest or aernings on such losa reserve. Le�ider cnu no Ionger raquire loss reserve�ay�nents if Mortgage Insuranca coverage(in the a�nount and For the period thaG Lender requires)provided by nn ineurer selecta4i Uy Lejider agtun Uecomes availaUle, is obtained, and Lender reqturae separataly desigttatecl �aymevts kowazd Lhe premimna for Morlgage Insuranee. IP Lender xeqUired Mortgagc lnsin-ance as a coudition of making the Loan and]3orxower was required to inake aeparately desiginCed pa5nnenfs lo�vard fhc preuuums for Mortgage Insurance, Borrower ghall pay tiie premiums rec�uired Yo rnaintaiu Mortg�ge Insurfuice in effect, or to pxovide a non-t efundehle lose reserve, until Lender's requirement for Mortgagc Lnsurance ends in accordance with a�ry written aereement Uetween Borrower and LendeA•providing for such tei�niaation or m�til termination is r�a�uired bq Applicablc La7v, Notl�ing in this Section ]0 affects B�rrower's o6ligalion Co pay inheresC nh Lhe ratc provided in Lhe Noke. Mortgage 7nsurance rcimburscs Londer (or any c;ntitiy fhaC purchases thc Note) for certaii�losses [t may incur if Borrower does noC repay hhe Laau as agreed, Borxower ie nol�parly to the MorC�age Insm�ance. VJ ortgago ins�ircrs evaluatc their t�tal r#slc on all suoh ineur�noe in forco Pron� timc ta time, and may cntcr iuCo agree�neuts witli oeher perties that shere or modify thelr risk, or reduce losses. These agreemeLits nre on tenna atld conditiaris that �'e satisfacCoiy Co the inortgage insnrer eaid tl�e other party(or parties) Co fhese ag+'ee�nents. `Cbcso agrccmenks may require th�u2ortgage insurer I�malce paymu��tn u�ing tuiy soUrce of funds fliaC Che mortgage ineurer may have nveilaUle(which may include f�mds obtaiued from Mortgage Insnrauce premimns). As a result of those Agreements, Lender, auy purol�aser oP tha NoCe, anothar iusurer, any reinsurer, aiiy othar entitiy, or any a�ftiliate of aaiy of the foregoing, ma�y receivo(direct1y or ind�irectly) vuo�mty that t[erive from (or migl�t be c1l�trncterized as) �portion of 13orrower's paymcnt� fAr Mortg�ga Insuranco, in cxchan�o for eharing or inodifying the morCgage ineurer's riek, or redueing losses. Tf auoh agreeixient provicles that an aff"ilinte of Lencler tnkes a share of the ivaurer's risk in exchange For a sl�ara of the�remiu�ns paid Yo the insurer, tl�e arraaigement is often termed"captive reinsurance.° I'urther: (a) .�rAy simli agree�uenGs will not �iYect the amoimts tl�at 73orrower hns agreed to pay for MorCgnge Insnranco, or any othor Yorma of tlic Loan. Snch ngrccu�ents will not incroasc thc amoant Borrower will owe t'or Murtg:�ge losm•ance, and the,y will not entitle Rorro�Ver to any reYimd. (b) Any snch agreement6 will uot nf1'ect tlie right5 Borruwer trsts-if xny -with respect to tl�e Mortgage Jnsnrance under the flomeowners ProCecC3m�r�cC o�f 199R nr any other Ixw. '1'hese cighfs may it�clude Cl�e eig1�C to receive certain disclosm�es, to reqnesC and ol�tstin cancellnHmi of Clie Mortgn�e 7�isnrnnce, to linv�*tlie Mort�agc Insnrnnco tca•minnted aatomnticnlly, ancl/or to receive a 7•cfiuid of a�ny Nlortgage Insnrauce pre�viums t�iait were mie�rned ;�t the time uf sacli cxncellaHon or terrninatlm�. 11. Assignmsnk of Miseellaneous Proceeds; FotFeiYure, A11 Miscellaneous Proce;ecis �re herebq zesi�n�cd fo and shnll be pnicl to Leuder. If the Pxoperty ie damaged, such Miecellaneous Proceeds shall be applied to castoration or reptiir of the Property, iP tha restoration or repair is economically feasible aud L,ender's secm•iCy is not lesseued. During stiach repur and restoratioi� perioft, Landcr shall l�ave U�e rig1�C to hold sucl�Mieccllancous Procccds unfil Lcntder liae haci an op�ortunity Co inepeeC suoh Propexty to ensure Che work has been completed fo Landcr's -- - — ------- --------�----�---- Za:oot o2a NEC+RASKA-Single Famlly-Fennla Mee/Fretltlie Idac UNIFORlA MSfRUMENT Form 3�28 1707 VMP�y Vf+iPB(N6)(11051 Wnpars Kluwer Finnnelal Se�Nr,ns Pepe fl of 17