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201207370 <br /> continue to}�dy Po Lender Lhe ainount of the separetely designaCed payments tl��[t wcrc duc when Che <br /> insur�nee coverage ceaeed tio be in affect. Lender will acccpt, usc�ud relain[hese payments as a <br /> non-refundabla loss reseive in lieu of MorCgage Hisurance. Such lose reseive ahall be non-rzftmdaUlc, <br /> notwithstanding the faot fhat� the Lo�n is ultirnately�aid in ful1, and i,e��der s7�ra11 xlot be re,�uired to�ay <br /> Borrower�ny inlerest or e[u•nings oii sttcli los reserve. Lcndcr can no longer r�quire lose resarve peyments <br /> if Moxtga�e Insurailce covarage(in tl�e amount and for Lhe period that Lender rec[uires)provided by en <br /> insurer selected Uy Leader again hewmes auailable, ie obkuned, aud Lender requires separatoly de.sigtiated <br /> I3ayments toward thc�rcmimns for Mortgage Inetu•aaice. I1Zeader requircd Mortg�gc Insirt�v�ce as e <br /> condition of n�aldng lhe Loan nnd I3orrowar was reqnired to m�lcc scparafely designnted pfl}nneuts tiowaed tl�e <br /> premiiuns for MorGg�ge Insue�wice, Borrower shall pay the prenvLmis reqtured to maiutani Mortgago <br /> Insurance in etfect, or to provicle a non-refundable loss reserve, until Londoi°s requirement for IVIortgage <br /> 6�surancc cuds in accoxdance with any written agreeinent bafween Borrower end Le�ider providirig for such <br /> termination or until tenninatiou is required by Applicable Law. Nothing in til�is Sectioil 14 affccts <br /> Borrower's obligation to}�ay intieresf at the rate provided in the Note. <br /> Mortgage Iusttranca reiinUuryes lycn�dcr (or any entity thak purchnses UYe Note) for c;erCain losaes it may incnr <br /> if Borrower does not rcpay the L o�n as ngreed. Borrower�is not a p�rty to the Moregzge Inewauca. <br /> 1vlortgage ineiuers evalnate their tok�1 rislc on all such insurauca in force from Nme to time, nnd m�y enter <br /> into agreainents with�other parlies tihat sh�re or tnodil'y thelr rislc, �r reduce loseea. These agieeinents flre on <br /> tertns a�id conditioi2s that are snlisF�eCory Co the mortgago insurer and the oYher�u'ty(or partios) tio these <br /> agrccn2en6g. These�g�eements inay reqniro thc mor6�gage insurer fo ak�lce paymants us'rng any source af fundS <br /> [hat the mortg�ge insurer�nny havc available(which may iuchtde funds ohCained Gom Mortg�ge Iustixanoc <br /> premituns). <br /> F1s a result of these agrcen�enCs, Lender, any pw'oliasar of Ylic NoCe, another insurer, any reinsuror�, any other <br /> entity, or�ny aLt"iliate of�eny of tihe foregoing, rnay reoeive(directly or indirectly) amotimtc C1�aC derive i�'oin <br /> (or nught be charactierized as) :z por6ion oP Borrower's payinenCs for M ort�;agc�Insuru�ce, in exchange for <br /> sharing or modifyivg the inorLgage inaurer'a rislc, or reducing losses. If such flgreement provides tl�at<ui <br /> a£filiafe of Lender takes a sh�re of the ivsm•er's rislc in cxchange�for ¢sharo of the preminme paid to the <br /> instu'cr, Lhe arrangement is often tsrmed "caprive reicisurance." FurYher: <br /> (a) Any snch ngx•cements wifl uoC affect tlie amomits that Aorrower lins agreed to pny for Mortgage <br /> Iusnrance, or any o[lier terms of the Loan, Snch agreemea�ts will noC iuercaso the amo�mC <br /> }3orrower will owo for Mort��ge Insurnnce, aud tl�oy will��ot eiititle Rurrower Co any refimd. <br /> (b) Auy snclt flgreeinents will nof xffect tl�e riglds Borrower lias-if any-with eespecC to [lie <br /> Mm�tgage Insm�nnce under tlie Flomeow�ters P��otection Act of 1998 or nny otlier law. Thesc�'igtits <br /> mny include Uie righC Co receive ccrtaln disclosurey, fo reqnest and obtain cancell;�kion of the � <br /> Mortgmge Insnrance, Co l�avo Che Mortg�ge ineurauce Cei�n➢nated antmn:itically, anclfor co reccivc <br /> a refnnd of nny Mortgnge Insnr:mee premiums t1iaC wciro m�et�rned At the time�of such <br /> cancelladon or termin�tion. � <br /> 11. Assinnment of M iscellaneous Proeeeds; Forfeiture. All Miscellaneous Proceec{s ue hereby assig�ed to <br /> nnd ehall be paid to Lcndcr. <br /> If th€Pro'percy ia damagcd, suoh Misoellazieous Proceeds shall Uo applied to restoz afion or repair of b1�o <br /> Property, if thc rcetoralion ar•repair is economically Poasible and Lendev''s security is not lcsscncd. Dnring� <br /> such repair u�d r�sYnrAtion 1)eriod, I.entier s1�a11 have fhe right to hold such Misccllaneons Prooeecls until <br /> Lender has had�i opportunity to inspeeti such Property to ensuro tihc work has been completed tio L.endcr's <br /> --- — -- -- 2�000�oia <br /> NF33NASKA-Sin91e Family-Fannie h1ael�redtlle A7ec UNIFORM INSTRUMF.NT Form 3020 1101 <br /> VM P mS VM P6(NE)(710b) <br /> W oliaro Kluwer Finandzl Services Pege 9 af 19 <br />