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201207723 lnsurancc previously in effect, at a cost substentially equivalent to the cost to Rorrower of the Mortgage Insurancc previously in effecl, from an alternate mortgagc insurer selected by LenAer. If subsrantially equivalcnt Mortgagc Insurancc ooverage is not available, Borrower shall continue to pay to Lender fhe amount of the separa[ely dcsi�atcd paymcnts that were due when the insurancc wverage ceased to be in effecL Lender will accept, use and retxin thcsc payments as a non-refundable loss reserve in licu of Mortgage Insurance. Such loss rescrvc shall bc non-refundable, wtwilhslanding the fact that the Loan is ullimately paid in full, and Lendcr shall not bc rcyuired lo pay Borrower any interest or earnings o�such loss reserve. Lender can no lunger rcyuirc loss reserve payments if Mortgage Insurance coverage(in thc amount and (or the period that Le�dcr rcquires) providcd by an insurer selected by Lender again becomes availxble, is obtained, and Lender requiros xpxrxtcly dcsignxted payments toward the premiums for � Murtgxge Insurance. If Lender required Mortgnge insurance as a condition of making thc Lonn and Burrom�er was rcquired[o make separately designatcvl payments toward the premiums for Mortgage Insurancc, Borrower shall pay the premiums required to maintain Morlgage lnsurance in effect, or[o providc a non-rclimdable loss reserve, until Lender's requirement for Mortgage Iosurance ends in acwrcJn¢cc with xny wriUen agreement between E3orrower and Lender providing for such tcrmination or until termination is required by Applicable Law. Nothing in this Scction 10 affects Borrower's obligaliun to pay interest at the rate provided in the Note. Mortgage l�surance reimburses Lender (or any entiry that purchases the Note) for certain losscs il may incur if 6orrower does not repay thc Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mongage insure[s evaluate lheir to[al risk o�all such insurance in fome from timc to time, and may enter into agreemenls with other parties that share or modify lheir risk, ur reduce losses. These agreements are on terms and conditions that are satisfaelory to the mortgage insurer and the other party(or parties) to these agrec;mcnls. These agreements may require the mor[gage insurer to make payments using any source of fiinds[hat thc mortgage insurer may have available(which may include funds obtained from Mortgage Insurance premiums). As a result of these agreemcnts, Lender, any purchaser of the Note, another insurer, any reinsurcr, any other entity, or any affiliate of any of the forcgoing, may receive(direcNy or indirectly)amounts that dcrivc from(or migh[ bc characterizedas)a portio�of Borrower's paymcnts for Mortgage Insurance, in exchangc for shttring or modifying the mortgage insurer's risk, or reducing losses. If such agreement providcs thal an affiliate of Lender takes a share � of the insurci s risk in exchange for a share of the premiimzs paid to the insurer, the arrangement is oRen termed "captive reinsuranca" Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay fnr Mortgage insurance, or any other terms of the Loan. Such agreements will not increase the amount Burrower will owe for MoHgage Insurance, and they will not enfitle Borrower to any refund. (b) Any such agreements will oot affect the rights Barrowe�r has- if any - with respect to the MoHgage Insurance under the Homeowners Protection Act of 1998 or anq other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Iosurance terminated automxtically, and/or to receive a refund of any Mortgage Insurance premiuros that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaoeous Proceeds; Forfeiture. All Miscellaneous Procccds nre hereby assigned to and shall be paid to Lender. If the Property is damaged,such Miscellaneous Proc;ceds shall bc applicd to restoration or repair of fhe Property, if lhc restura[ion or repair is economically 1'easibic a�d Lcndc�s sccurity is not lesseoed. During such repair and restoia[ion period, Lender sha0 have the right to hold such Miscellaneous Proceeds until Lender has had xn opportunity to inspect such Property to ensure lhe wo�k has bccn compleled lo Lender's satisfaction, provided that such inspecliun shall6e under[aken promptly. Lender may pay lor Ihe repairs and restoration in a single disburscmcnl or in a series of progress paymc�ts as the work is completed. Unless an agreement is madc in wriling or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not bc rcquired to pay Borrower any interesi or earnings on such Miscellancous Proceeds. If the restoration or rc,pair is nol economically feasible or Lender's security would be lessened, thc Misccllaneous Proceeds shall 6e applicd to lhc sums secured by this Security Instrumcnt, whether or not then due, with the excess, if any, paid tu Borrower. Such Miscellaneous Procceds shall be applied in thc arder provided for i� Section 2. NEBR4SKA--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT-MERS po��,�,� Form 3028 7l01 Page B of 15 www.docmagic.rom