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201207797
<br /> LOAD7 A: 0243761326
<br /> selectzd hy Lendec Ifsubstan4allyequivalent Mortgage Insurancecoverage is notavailable,Borrowershall
<br /> continue to pay to Lender the amount of the separateiy designated payments that were due when the
<br /> insurance coverage ceased to be in eifect.Lender will accept,use and retain these paymenls as a non-
<br /> refundable loss rescrve in Iieu oi Mortqage Insurance. Such loss reserve shall be non-refundablG
<br /> nonvi[hstanding the fact ihat the Loan is ultimately paid in full,and Lender shaii not be required to pay
<br /> Bomower any interestorearnings on such loss reserve.Lender can no longer require loss rescrve paymenis
<br /> rf Modgaae insurance coverage(in lhe amount and for the period ihat Lender requires)provided by an
<br /> insurer selectecl by lender aya�n becomes availaole, is obtained, and Lender requires separately
<br /> designated payments toward the premiums tor A4ortgage Insurance. If Lender required Mortgage
<br /> Insurance as a conditlon of making tlie Loan and Borrowerwas required to make seoarately designated
<br /> payments toward lhe premiums for Mortgac�e Insurance, Borrower shall pay the pramiums required to
<br /> maintain Mortgage Insurance in effect, or to provide a non-refunda6fe bss reserve, unti� l,ender's
<br /> requirementfor Mortgac�e Insuranceends in accordancewith anyvrritten agreementbetween Borrowerand
<br /> Lender pmviding tor such tettninatian or until termina6on is required by Appiicable law.Nothing In this
<br /> Section 70 affects Borwwer's obligatlon to pay interest at the rate provided in the Note.
<br /> Mortgage Insurance reimburses Lender(or any enilty that purchases the Note}for certain losses it may
<br /> incur rf Borrower does not repay the Loan as agreed.Borrower is not a party to the Mortgage Insurance.
<br /> Mortgage Insurers evaluate their totai risk on all such insurance in force irom time to time,and rnay
<br /> enter into agreemenis wiih other parties thaf share or modify their risk, or reduce losses. These
<br /> agreemenis are ai terms and conditions lhatare satisfactoryta the mortgzge insurer and the other party
<br /> (or partiesj to these agreemenls. These agreements mAy require tfie mortgage insurer to make
<br /> payments using any source of funds that the mortgage insurer may have available(which may indude
<br /> funds optained from Mortgage insurance premiums).
<br /> As a result of these agreemen[s,Lender,any purchaser of the note,another insurer,any reinsurar,
<br /> any other entity,oraffiliate ofany of the foregoing,may receive(direcdy or indirectly)amounts that derive
<br /> from (or mighl be characterized as) a portion of Borrower's payments for Mortqage fnsurance, in
<br /> exchange for sharing or modiiying the mortgage insurer's risk,or reducing losses. If such agreement
<br /> provided that an affiliate of Lender takes a share of ffie insurer'S risk in exchang¢for a share oi the
<br /> premiums paid to tho insurer,the arrangement is often termed"captive reinsurance."Further.
<br /> (a) Any such agreemenis will noi affeM the amounts thet Borrower has agreed 90 pay for
<br /> Mortgage Insurance,or any other 9erms of the I..oan.Such ngreemants wlll not increase the amount
<br /> Borrower will owe for Mongage Insurance,and they wlll not entitle Borrower to any refund.
<br /> (b) Any such agreementx will not affeet tl�e efghts Borrower has-If any-wi4h respect to the
<br /> Mongage Insurance underihe Momeowners Proteclion Act of 1998 or any othar law.These rights
<br /> may include the dgh4 to receive certain disclosures,to request and obtsin cancellstion of the
<br /> Mortgage Insurance,to have tho Morigage Insuronce terminated automutically,and/or to receive
<br /> a refiund of any Mortgage Insurance premiums thatwere uneamed at thetime of such cancellation
<br /> ortermination.
<br /> 11.Assignmen#ot Miscelianeous Procceds;ForfelWre.All Miscetlaneous Proceeds are hereby
<br /> assigned to and shall be paid to Lender.
<br /> If the Property is damaged,such Miscellaneaus Proceeds shall be applied m restoration or repair
<br /> of the Property,Rthe restoration or repai�is economicaityfeasi6le and Lender's securiry is not fessened.
<br /> Dunng such mpair and restoration period, Lender ehali have the right to hold such Misceilaneous
<br /> Proceeds until t.ender has had an opportunity to inspect such Pmperty to ensure the work has been
<br /> completed to Lender's satisiaction,provided thatsueh inspection shall6e undertaken promptly.Lender
<br /> may pay for the repairs and restoration in a single disbursement or in a series ot progress payments
<br /> as the work is completed.Unless an ac�reement is made in writing or Applicable Lew requires intcrest
<br /> � to be paid on such Miscellaneous Proceeds,Lender shall not be required to pay Borrower any intereet
<br /> or eamings on such Miscellaneous Proceeds.Ii[he restoration or repair is nol economically feasible or
<br /> Lender's cecurirywould be les�ened,the Miscellaneous Proceeds shaii be appiied to the sums secured
<br /> by ihis Security Instrument,whether or not then due,with the excess,ii any,paid to Borrower,Such
<br /> Miecellaneous Pmceeds shall be applied In the order provided for in SecUon 2.
<br /> in the event of a total taking,desfructiori,ar loss in value of the Pmperty,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 /> �n lhe event of a partial taking,des[mction,ar lass in value of the Properry in which Ihe fair market
<br /> value of the Property immediately bsfore the partial taking,desVuctiun,or loss in value is equal to or
<br /> greater ihan the amount of ihe sums secured by this Securiry Instmment immediately befom the partial
<br /> taking,destruction,or loss in value,unless Borrower and Lender oiherwise agree in wriGng,ihe sums
<br /> sxured by this Security Insirument shall be reduced by[he amount oi the Miscellaneous Proceeds
<br /> multiplied by the tollowing fraction: (a)the total amount of the sums secured immediately before the
<br /> partiaitaking,desVuction,orloss in valuedivided 6y(bj thefairmarketvalue ofthe Properry immediately
<br /> before the partiai taking,dzstruction,or loss in value.Any balance shall be paid to Bonower.
<br /> In the event of a partial takiog;desimctlon,or loss in value of the Property in which the fair market �
<br /> value of the Property immediately before the partial taking,destructlon,or loss in value is l�s�ary�t� /1
<br /> Tnitials: �'�. "7 � �.. f��
<br /> NEBRASKA-S'�n91e Family.-Fannio Mae/Preddie Mac UNIFORM INSTFUMENT Forcn 30281Po7
<br /> 9nlnsDocuments,lnc. PBgC 7 of 11 NEE�EEO 1108+
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