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20120�3��
<br />LOAN �: HQ112098784
<br />selected byLender. ifsubstantiallyequivalentMortgage Insurancecoverageis notavailable, Borrowershall
<br />continue to pay to Lender the amount of the separately designated payments that were due when the
<br />insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-
<br />refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable,
<br />noiwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay
<br />Borrower any interest or eamings on such loss reserve. Lender can no longer require loss reserve payments
<br />if Mortgage Insurance coverage (n the amount and for the period that Lender requires) provided by an
<br />insurer selected by Lender again becomes available, is obtained, and Lender requires separately
<br />designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage
<br />Insurance as a condition of making the Loan and Borrowerwas required to make separately designated
<br />payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's
<br />requirementfor Mortgage Insuranceends in accordancewith anywritten agreementbetween Borrowerand
<br />Lender providing for such termination or until termination is required by Applicable Lawr. Nothing in this
<br />Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity �at purchases the Note) for certain losses it may
<br />incur ff Borrower does not repay the Loan as agreed. Borrower is not a parly to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may
<br />enter into agreements with other parties that share or modiiy their risk, or reduce losses. These
<br />agreements are on terms and conditions that are satisfactoryto the mortgage insurer and the other party
<br />(or parties) to these agreements. These agreements may require the mortgage insurer to make
<br />payments using any source of funds that the mortgage insurer may have available (which may include
<br />funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the note, another insurer, any reinsurer,
<br />any other entity, or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
<br />from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provided that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) My such agreements will not affect the amounts that Borrowrer has agreed to p�y for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements wlll not Increase the amount
<br />Borrower �nrill owe for Mortgage Insurance, �nd they hrill not entltle Borrowrer to any refund.
<br />(b) Any such agreements arlll not affect the rlghts Borrower has - If any - wlth respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other I�w. These rights
<br />may Include the Mght to receive certain disclosures, to request and obtaln cancell�tion of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatic�lly, and/or to receive
<br />a refund of any Mortgage Insurance premiumsthatwere unearned atthetlme ofsuch cencellation
<br />or termination.
<br />11. Assignment of Mlscellaneous Proceeds; Forteiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shali be paid to Lender.
<br />If the Properly is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair
<br />ofthe Properly, ifthe restoration or repair is economicallyfeasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous
<br />Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
<br />completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender
<br />may pay for the repairs and restoration in a single disbursement or in a series of progress payments
<br />as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest
<br />to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrow+er any interest
<br />or eamings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
<br />Lender's securitywould be lessened, the Miscellaneous Proceeds shall be applied to the sums secured
<br />by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such
<br />Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value ofthe Property, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Properly in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) thefair marketvalue ofthe Property immediately
<br />before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is le h n t
<br />Initials:
<br />IdEBRASKA—Single Fsmily—Fannle Mee/Freddle Mac UNIFORM INSTRUMENT Form 30281/01
<br />Online Documents, Inc. Page 7 Of 11 NEEDEED 1108
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