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201207672 <br /> contiinue to pay to Lcnider the av�ount oPY1ie separately designatcd paymenls Ch2C were dne wlxen the <br /> insur2nco coverage oeaeed to be in e'ffecC. I,ende� will aooept, use and retstin these paymentis a,s a <br /> non-cefund�ble loss resarve in lieu of Mortg�ge Inaurance. Such loss reserue sha11 Ue non-rofimdable, <br /> iiotwithstanding the fact that the Loan is ulHinately paid in full, eud Lenc�cr shall iioti be requited to pay <br /> Borcower any intcrest or eaxnings on suoh loes reserve. Lcnder cian no longex require loss reseive paymenEs <br /> if MorCgnge Insurance coveraga(in the amoimt and for fhe period that Londer requires)provided Uy an <br /> ineurer selectied Uy Lender again l�ecotnes availnble, is obtiained, ancl Lendcr rcquir es se��aralely designated <br /> payments towa�'d thc prcn�iuma for Mortge�ge Tnstuance, If Lcndor rcquired MorCgage Insurance as a <br /> condition of making the Loc�n and Borrowar way requireci w u�ake se�a�r�tely deaignated payments toward tl�e <br /> preminrns for MoTfgage Insurance, Borrower sl�all pay lhe premiums required to maintaiii Mortgagc <br /> ImsL�rance in eff'eot, or to providc a non-refimdable loss reserve, w�til Lc�nder's requirement for Mortgage <br /> Insurance ands in accordauce witti nny writYen agree�nauE bctwee��Borrower and Lender pro�iding for sucl� <br /> terinination nr until ferminetion ie required by kpplicable Law. Notbing in this Sectiai l0 affecYe <br /> Borrowex's obligafion to Way inEerest at the raCe provided in the Note. <br /> Mortglge Insui��uioe reiuibm'ses I,endcr(or any entity thak purchases the Notc) for corCtin losses it may incur <br /> if Borrower does not repay the Loni�ae agreed. Borrot�e�'is not a party fo the Moxtgage Hisurance. <br /> Nlortgage insureis evaluatc flieir Coc�l rislc on a11 such ii�suranc c in force &otn time to 6me, and may enter <br /> nrto agreements with oCher parfies that share or mr�dify Cheu risk, or reduce losses. Thesa agrcomcnfs are on <br /> terms eu�d conditions thftt�re satisFactory to the mortgage insurer�nd tha other party(or parlies) to these <br /> agrccinenls. Theae [tgreemenCs may raqiurc Che morEgage insurer to mal<e paymc»tis using any source oF funds <br /> $�aC the mortgage insm'er may have available(which may include ftu�ds obtauiecl from Mortgage Iusurance <br /> premiwxis). <br /> As a result oi'tlxese agrcoineuts, Lender, any ptu'cl�aser nf tl�e Note, �iother insurex, a�iy reinsm er, any other <br /> entity, or x�ty affililCe o£any of the ioregoing inay receive(direotly or indirectly) amowits lhat derive fi•om <br /> (or mighf be ch�racterized as) a porHnii of Bon ower'e payinents for Mortgage Tnsurance, in exclkulge For <br /> sharing or modifying thc morlgage insurer's risk, or reduciiig losses. If snch agreement provides tl�af an <br /> affilizka of T_ender takes a ahare of the insurer's riek in exchnnge for a shaA•e of the pro�niui2�s paici w the <br /> insnrcr, the nrrangement is often termed "ca�tive reinsurtuica." Fm�tlier: <br /> (a) ��y such agremnents wi11 uaC nffect tLe amomits tl�ak Rorrower lias agreed to pay for Mortg:�ge <br /> Insurnnce, or any oCher terms of thc Lo�ui. Sach agreomenfs will not increaeo the .�ittonnk <br /> Sorrower will owe for Mm�t�ago Insarxnce, and they will not entitic Borrowrr to any ref�md. <br /> (b) Any snch agreenients will not aYYect tlie righfs 13m'rower lias-if nny-wit}i respect to tiie <br /> MorCgage Insiu•nncc imder the Homeowners Protection AcE o1'1998 or airy ofl�er law. Tlicsc rigl�te <br /> may inchulc the rigNt tn reeeive certain disclos��res, to reqYie6C and obtnin caneell�tlon of'd�e <br /> Mortgage I��aiumice, Co liave the Mortgxge Iuenranee terani�intcd aatomatioally, and/or Co receive <br /> a refund of an,y Mortga�ge Inauranco premi�une that were anexA•ne�l aC tLe ti�ue of sncli <br /> cancollntion or tecminalion. <br /> 71. Assignment of M iscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereUy assigned to <br /> nnd shall be paid t�o Lencicr. <br /> If fhe Peoperty is dauiaged, such Misoellaneous Proceeds shall Uc applied to restorntion or repair of U�e <br /> Ptoperty, if Che restoraCion or repair is economically fcaeible nnd Lender's secm�ity is not 1ess�ncd. During <br /> such repair and restoration period, T_.evder eha11 have the right to hold such Misccllaiioous Pro¢eeds until <br /> Lc:nder has had an opportunity to inepect suckt Propartiy fo ensure tho work 7ias been oompleted to Lender's <br /> zaooztaa <br /> NEBRASKA-9in91c Femlly-Fannle MaelFretldle W ec UNIFORM IN9TRUMENT Form 3U28 1101 <br /> y��p� V!d PB(N E)(11451 <br /> Wulters Kluwar Finanolal 3ervloos Page 9 oi 19 <br />