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201207890 <br /> eontinue Lo pay lo Lender fhe amounC of Cl�e separately designated paymenCe thaC wore due when the <br /> inaurance coverege ceased Co be in effect. Lender will accept, uae nnd re�in these payments as n <br /> non-refundaUle loss reserve in lieu of'Mort�age Insmance. Such loss reserve shall be uon-retiuidable, <br /> nohvithstanding the fact that thc Lottn is tiltiinately paid in fiill, and L�tide��shall noY be rcquired to pay <br /> Borcower any inCerest ox earnings on sueh loss reserve. Lendei�can no longer require loss reserve pnyments <br /> if Mortgage Insurance coverage(in tlie ainounY and for the perioci that Lender requires)providul by an <br /> insw�er selected liy Lende� again becomes avetilable, is obtaincd, and I,e�ider reqtiures separately designated <br /> paymcnfs Eoward the premit�me foi Mor6glge Insurance. IC Lender reqttired MorCgage�InYuranoe as a <br /> condition a£ivaking the Loati nnd Borrower wae required to m�lce separately deaignAted pnyments towacd the <br /> premiums for MorYgage Insur�tice, IIorrower shall pay the preinimns required ko mainYain Mortgage <br /> TueUeai�ce in eff�ct, or to prov3dc a non-refundable loss reserne, unfil Lendcr's reqtdren�enC Por Mort�gage <br /> Insurvioe ends in accordanoe with any�tni[hen lgreement between Borrower and Lender providing for snch <br /> termina[ion or until termination is xequired by Appliceble Law. Nothing in this Section 10 aff'ects <br /> Borrower's obfigation to pay interest at fhe rate provided in the Note. <br /> Mortgnge Insurance reimburses Lender (or auy entity til�at purchases the Note) for certain losses it may inour <br /> if Borrowec does not repay the Loa�i as a�,n�eed, Rorrowcr is not�party to tihe Murtgage fl2suxance. <br /> MorYgaga insurars evaluaCe their total risk on all such insnrancc in force from�timc to timq and may c��Ccr <br /> into agreements wifh other parkius tUat sl�ttro or modi£y L'heir risk, or reduce losses. These agreements ere on <br /> tcrnis and condi�ions fl�aiC are salisfaotory to tke mortga�e ineurer and the other p�u•ry(or perties}ko�thase <br /> ag}�eeinenis. Tliese agreemeuts n7�y require the mortgage insurer to meke payments using ang source of fimds <br /> thnt the mortgage inewer may have auailable(which may include fi�vcls oUtained£roin Mortgabo insurau�oe <br /> premimns), <br /> As n result of tihese agreainenfs, I,e��der, �ny ptiu�cl�ase� of tl�o Notc, anothcr insurer, any reinsurer, any oCher <br /> o�itity, or any affi1iatc of any of the foregoing, may receive(direcHy ot indirectly) �mounts thftt derive fi�om <br /> (or mighE be oh�rneterized as) �portion of Borrower'e paymeuts �or MorYgage Lisurance; in exchanbe for <br /> shtu•ing�or modifying the mortga�e insurer's risk,. or�'educing losscs, If hueU agreement provides tliah r�n <br /> �tffiliata of l.e�ider tx1ccs a ahare of thc ineurer'e risk in exohaqge for a share of the pretniums paid to the <br /> ineurer, Lhe arrangement is often termed "captive reinsurnnce." Further: <br /> (a) Ariy sncl� agreemeute will not affcet thc n�nonnts thxt Borrower l�as nPreed to pay for MorCgnge <br /> Tnsnranec, or nny othcr term� of tl�e Loxn. Snch ngreements will not increa9e Che amomiC <br /> Burruwer will owe fm•Mm�tgage,lnsm•ance, and they will not entitle Borrower to nny refnnd. <br /> (b) Any sncli agree�nents rvill not affect the rightS 13orrower ha&-if any-with respect to tlie <br /> N(ortgage Insurauce imder llia l3omeowners ProCection Act of 1998 or any otlior Inrv, Tlicsc rigl�te <br /> �nay include Hie right to rcccivc ccrtain disclosnres, tu request �md obtain cancell:ifion of the <br /> Mortgage Insm�ance, to l�ave tl�e Mort�.�ge Insurxnce Cermin:�tecl aaCnmaticnlly, �ncl/or to receive <br /> e refund of xny Morlgage Iusnrance preminms t1iaC were nneflrned at tlie time of ench <br /> cmicellaCimi or terminaHm�. <br /> 11. Assignment of M iscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds u�e hereby assigned to <br /> and shall be paid to I,ender. <br /> If tl�c 1'roporcy ia daz��ageci, such Miscellaneous Proceeds shall be applied to restora{ion or repair of the <br /> Propet-[y, if the reatoration or repair is econoinically£easible and l,ender's secnrity is not icsscncd. lluring <br /> suoh ref�atr and restoration�eriod, Lendc��sha]] havc thc righ( In hold such Miscellnneous Ptooeeds until <br /> Lendcr has h�d an opporlunity to inspect such Property to ensure the work hes been completied tio Lendar's <br /> saoaszza <br /> NEBFt4SKA-Single Famlly-Fennie Mae/Freddie Mac UNIFORfei INSTRUMFNT Porm 3a28 7101 <br /> VMP pp VMPB(NF)(1706) <br /> Wniters Kluwer Flnm�nlel Snrvinae Pege fl of 1 <br />