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201207888 conCin�u;to pay to l,ender the ainonnt of the separately designatcci paytnents that were due�uhen die insur�tnce covexage ceasod to Uc in effect. Levder will aocept, use and retain tl�nsc��ayments as a non-reRmdable loss reseroe in lieu of Mortgago InsLuance. Suolt loss reserve shall be non-refuudaUlc, notwithstauding tha fact thet the Loan is uI6mlLoly pald in ftill, a�id Lender sl�all not be required Co pay Borrowcr a�ry interest or eai�irings on such loas reserve. Lendcr can no longer require loss reserve payments if Mortgage Insm�anco coverage(in the zmount and for the period ChaC Lend�r requirea)provided by ati insarer selected by Lendcr again becomes a�railable, is obtained, and Lender requires n�parately degignated yayinentis tow[ud Yhe peeiniums for MarCgagu insur ance. If Leuder required Mortgage In�tuance as a covdition of mFilung tha Loaai nnd Borrower was requircd to make separately designaCed paymenCs loward fhe pretniums for Mort�age insurauce, Borrower shall pay tkie premiLuns requircd to rnaintain Mortgage Insurance in effect, or Yo provide a non-refuncl�tble loss rese�'ve, uutil Lendar`s requirement for Morlgage Insurance ends in ttccordance with any writtien agreement l�elween Borrowcr and l,ender provid'uig for such termination or until term'v�ation ie rcquired liy Applicabla Law. Nothing in this Secuion 10 affects Borrower's oblig�Yion to p�y interest af the ratc provided iu the Nota. Mortgage Insurance xeimbueses Lender(crr any eutity that pwchases the Note)far cerCaiv]ossos it may ivctiu if Borrower does uot repay the Loan as agreed. Borrower is not a party to the Mortgage Tnsurance. Mortgage insw�era eveliiake their toCal ri�k on all such insurauce in foxoe flom time to tima, and may enter inCo a�;rcements with other partiies thnt share or inodify thcir risk, or recluce losses. These a�reeinenfs are�on terms nnd conditions that a��e�atisfactoiy Yo the mortgege insm�er and tho othcr pzrty(or parCies)Yo these agreemenYs. T'hese agreen�ents may require the mortgage insurer to make paymeuLs using atiy source of funds tl�at the uiortgaga instuer mny hnve availaUle(�vhich may inclLide funds obtained f�om A�artgage Insurtmce pxeiniume). As a result of these agreenients, Lender, eny pui-ch�aer of fhe N�Ec, auofher insurer, any reinsw�er, any other eniity, or airy affiliate of auy of tihe�£oregoing, �may�receive(diractly or indirectly) amounts tl�at derive from (or might l�e cl�aractcrized as) a portion of Borrower's paymenfs for MorCgage Insurance, in exohangc;Cor aharing or modifying Che morfgago insurcr's rialc, or reducing I'oases. IP such�greeinenY provides thnt et� a£filiate of Lender takes a share of the insurer'�risk in cxchangc for ct share of the premimns paid Co Che insm�er, the arra�igeinent is of'ten termed "captive renisurance." Pnrther: (a) Any srmh agreemenls will not xffect the amum�ts tliaC Borrowcr l�ns aga•ecd to pay for bIortgnge Insnrance, or nny other terms of Che Lnar�. Sacl� agreements will not increase the amo�mt Bmrower will owc for Mortgagc Inenrnuce, and tliey will not entitle Borrnwer Co any refnnd, (b) Anv sach ngreements�ti�ll not tiffect tl�e rights Barrower hns-if nny-wicL respecl Co the Nlortgnge Insm�ance �mder thc Homcowncre P�rotcction Act of 1998 or any other law. TLese i�ghte may include the riglrt to receive certav� disclosnres, to request and obtnui cancdlation of tlic MorCgage Ins�irnnce, In tiave tl�e Morlgage.Insnrance termin;iteci xutmnaHcally, nnd/or to receive a refmid of any Mortgage I�tsnrnnce preminme [liaC were mtea�vied at cl�e Wxne of sncli cnncellntion or tcrminatiou. 11. Assignment of M iscellaneous Proceeds; ForFeiture. All Miscellu�eous Proceeds are hereUy nssigned to and si�till lie paid t��Lci�dcr. If tl�e]'roperty is damaged, sLich Miscellaneous Proceeds shall Ue c�pplied to restoratiou or repair of tha Property, if khe testoration or rep�ir is eoonomioally Peasible and Lender's seciu'ity ie voC leasa�icd. During such repair and restoratiori period, Lender shall have the righC to hold such Miscelleneous Proceeds until Lender has had an opportunity Co inspeot sLich ProperCy to ensura tl�e worlc 1�Ts been completed to Leudei"s znaozzns NGORFlSKA5ingle Femily-Ponnie Mae/Retltlle Mac UNIFORM INSTRUM WT Form 8020 1/07 VM P(y VMP6(NE){1105) lMolters Kluwer Flnanclal Services Page e oi 1]