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201207373 <br /> continue to pay to Lender tiha atnount of the sepstrntely designaCed paymcnks thtit wcre due when the <br /> insiu aricc covcrttge coased to be in eftect. Lender wi11 accept, use and retnin eheae payinente as a <br /> uon-refunda6le losa reserve in lieu ofMort�agc f,nsurance. Such loss reserve shall be non-refiuidnble, <br /> notwithsfanduig the fect that the Lonn is ultimately�aid iu full, arid Lcndcr shall not be reqtured to pay <br /> T3oirower any interest or earnings on suclx loss reserve. Lender cnu no longer requirc losn rescrvc�payments <br /> if Mortgagc Iusurance cc�verage(in the amomit and for tihe period t1iaR Lender requires)provided by an <br /> inaurer selecced by Lender again Uccc�mcs t�vailaUlc, ia abtained, and Lender requlres separ�tely desi�nnted <br /> peyments towerd the pxetuiuins for MorCgage Ine�trance. If I�;nder rectuired Mortgage Il�stu'ance as a <br /> condition oF melcing ttie Lonn nnd Borrower was requirecl to make separaCely dosignatcd pa5mients toward the <br /> preiniLuns For Mortgnge Lisur�nce, Borrower shall pay the premiums req�rired Co uivutain Mortgagc <br /> Iiisurt�noe in effecl; oc Co�rovide a non-rcilmdnblc loss rescrVe, until i,ender's requirement For Mortg�age <br /> &�stu<�tnee ands in aecordanoe with any writteu agreemenC 6etween Borrawer zmd Lcnidcr providing for sucl� <br /> terminatimi or until Cennination is required by Applicable Law. Nothing in this Section 10 aLCecfe <br /> � Bon�ower's obligation to pay infcrest af the rate pzovided in tl�e Note. <br /> Mnrtgage Ins�u'ai�cc rcimburscs Lc��der(or ang enrity that ptmchases tlie Note) for certain loases it may iucw <br /> if Bonower does uot repay the Lo�n as agreed. Borrower ie not a party tci tl�a Mottgage Insw�ance. <br /> MorCgage insurere cvaluafo Theix totitl rislc on all such ins�n•ance in .force from time to time, and in�y anter <br /> into agreements with ot�er parties thaf share or n�ociify their risk, or reduce]osscs. '1'hcse agreemenCs arc on <br /> terms a�id conditions Hiat are satisfactory to the mortgage insurex and the otlier pnx�y(or parCies) w Chese <br /> agreements. These agreetnents iva�y require Yhe inortgage insm�er Co mxlce paymente using�atny source of funds - <br /> th�t Clic morlgago insurcr may havc available(which may include funds obGaiued from Moi�tgage Ins�m�Ance <br /> preiniums). <br /> As a resxilt of Chese agreemenfs, Lenc{er, avy�m�chaser oP Lhe Noto, anoilier insurer, auy rc"vlsurcr, any other <br /> antity, �oi any affiliate of any of tl�e foregoing, miy receive(directly or indL•ectly) aznonnta that derive from <br /> (or might be chai'act.etised as) a portion of Borrower's yayineuts �I'or Mortgaga Instu'ance, in exchnng�a for <br /> shnring or modifying�lhe mortgage ineurer's xisk, or reclucing lossos. 1f sueh agrce�nont provides that an <br /> afFiliete of T.ender tnlces a share of the insurer's risk in exchavge for�sliare of Y7ie preiniun�s paid to the <br /> instiuer, the asrangement ia often tarmed "captive rainsLvence." Purthei: <br /> (a) Ar�y such agreen�ents will nok affect tlie amoimks tlint Borrower lu�s ngrecd to pny Por Mortgage <br /> Ineneance, or any oCt�er Corme of Che Loaa Such si�reements will nut inarease the ainonnt <br /> Borrower will owe for Mort�age v�enrnnce, aud they will not entttle llm�rower Oo axi}�refnnd. <br /> (b) Any sncl� ngrce�uenCs will not affect the rights BorroFver hne - if auy- r�-illi respect to the <br /> Mortgage Insarauce mider the FIomeowncrs Protcetion Aet of 1998 or any otlier lnw. These riglits <br /> �nny inclnde the righC to receive certsiin disclosures, to reqneSt xnd ubtein cxncellation of tlic <br /> MorCgage Iusin�ance, to linve tl�e Mortgage Insm•v�ce cer�uin�ted aatomaHcally, and/or to receive <br /> a refmid of nny Mortgnge Bism�anco promiimis Yl�nt were�mearned nt tlie time of sncl� <br /> eancellation or terminxtion. <br /> 11. Assignment of M iscellaneous Proceeds; Forfeiture. All Miscelltineous Proceeds eue hereby nssiguecl to <br /> and�l�all bc ytid to Lcndce. <br /> If the Yroperty is damagcd, sach Miscc1laneous Proceeds sliall l�e applied to restoration or repur oF the <br /> Properly, if the restoration or repair is econoinically Peasible zuid Londer's sccurity is not lessened. Dming <br /> such repair and restoration period, Lender ehall have the right to hold such Miscell�neous Proceeds unfil <br /> Lender has 1�ad an opportunity to inspect such Property to ensm'e the work has been completetl to Le�ider's <br /> snaoxoss <br /> NE6RASICA�Single Famlly-Fannle h1aelPredtlle h1ac UNIPORh1 INSTRUMENT Porm 3�2b 1101 <br /> VM P� VM F'fi(NE)(11051 <br /> N.'olters Klmver Finenclnl Servlces Page�of 1 Y <br />