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201207653 continue to pay to Lender the amount of the sepazately designaLed payments that wexe due when thc insurance coverage ceased to be in effect Lender wzll accept, use and retain thcse payments as a non-refundzble loss reserve in lieu of Mortgage Insurance. Such loss resen�e shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in fixll, and Lender shall not be required fo pay Borrower any iuterest or eatnings on such ioss reserve. Lender can no longer reqirire loss reserve payments iF Mortgage insurance coverage(s`n the axnount and for fhe period that Lender requires)provided by ai! insurer selected by Lender again becomes available, is obtained, and Lender requires separately 3esignated payments to�nard the premiums for Mortgage Insurance. If Lender requucd Mortgage Insuranee as a condltion of making the Loan and Boirower was required to make sepazately desi�aked paymeuts to�vaxd the �reiuiuixvs for�Mortgage Insurance, Borrou�er shall pay thc premiums required.to maintain Mortgagz �is�anee in effect, or to provide a non-refimdable loss reserve, until Lender's requuememt for Mortgage Insurance ends in accordance with any wrtttea agreement betcveen Borrower and Lender providing for such terminatiion or until teruunation is requirec3 by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in fhe Note. Mortgage Insurance reimburses Lender(or any enrity that piuchases the I�Tote) for certain losses it may ine�u if Borrower does noi repay the Loan as a�-eed. Borrower is not a party to the Nlortgage lnsurance. Mortaage insurers evaluate their total risk on all such inswance in force from tune to tune, and may enter into agreements with other p�-ries that shaze or modify their risk, or rednce losses. These agreements a�'e on terms and condirions that aze satisfactory to the mortgage insurex and the other pazty(or parties)to tJ�ese aueements. These agreements may requue the mortgage ins��rer to make payments using any souree of funds that the mortgage insurer may have auailable(which may include Lunds obtained from Mortgage Instuance piemiums). As a result of these ageemenfs, Lcncier, any purchaser of the Note, another insurer, any reinsurer, any other enrity, or any afFiliate of any of the foregoing, may receive(dircctly or indirectly)amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage�Insurance, in�change for shazi�ag or modifying the mortgage insurer's risk, or reducing losses. If such agreemenf provides that an affiliatc of Lender takes a shaze of the:nsurer's risk in excha.nge for a share of the premiums paid to the insurer, the arrangement is ofren termed"captive rcinsurance." Further: (a) Any such agrcements will not affect the amounts that$orruwes has agrced to pay for Mortgage Tnsurance, or any other terms of the Loan. Sncli agreements will not increase the amount Borrower will owe for R'[artgage Insurance, and tfae}�will uot entitle Borrower to any refund. (6j Any such agreementa wilf nut affect the rights Eorrpwer has-if anq-with respect to the Mortgage Insuraixce under the Homeowners Protection Acl of 1998 ur xny other law. These rights may include the right to receive cerkain diselosures, to reqaest and obtain eancellatidn of Yhe M�rtgage Insurance, to have the Mortgage Pnsurance terminated xutomxticaIIy; and/or to receive a refund of:tny 1'Iortgage Insurance premiums that were uneamed at the fimc of snch cancellation or termination. 11. Assignment of M iscellaneous Proceeds; Forteiture. All MisceRaneous Proceeds aze hereby assigned to and shall be paid to Lender. If the PropeiYy is damaged, such Miscellaneous Proceeds shall be applied to restoration or rcpair of the Property, if the xestorafion or repa�is ecouomieally feasble an�l Lendex's security ia not lessened. Bucing sucn repair and restoration pariod, Lender shall have the right to hold such Miscellaneous Pmceeds until Lcnder has had an opportunity to inspect such Property to ensure the work has been completcd to Lender's zaoozias NE3WlSKASingle Family-Fannie IAaa'Frztltlle 61ac ONIFORM MSTRUWEN? Porm 3028 1(Ot VMP� VMPG(NE)(t1a5) VJolters Kluw er Financial Services Page 9 ot 1]