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201208064 contaiue to pay to Le��dcr thc amount of 4he separately designatied p�ytnents that were due when the insurancc cove��age ceasecl to be in effect Lender will accept, use and roYsin these pa�yinants as a non-refimdab(e loas xeserve in lieu oF Mortgage Insm uice. Such los reserve sha11 Ue non-refttndaUle, notcvithstanding tha fa�ct fliat the Loan is ultimately paid in full, and Lcndcr shall not be rcquired w�ay Borrower viy intere�t or earnings on sach loss reserve. I,ender can no longer require loss reseroe paymesits if M�rtgago ineurancc coverage(in the amount nnd for the period thnt Lender requires)provicied by ui insuxex selected by Lender agein becomes available, is obCained, and I,ender reqnires separately dcsigr�atcd pa}nnents foward the premiumg for Mortgage�Inauranco. IFLondor required MorCgage Insuranoe�ns n condition of malring tha I,o�u� and Borrower was required to u�eke separately deaignated paymente toward the prou�iums for Morl'gage Insurance, Borrower shnll pay the preiniuins required to inaintain Mortgage Instu'ance in ef£ect, or fo provid�a non;refundaUle loss resezve, until Lender's requirement for Martgage Insuionce ends in accortianpc wiLh vry written agreement between Borrower and Lendar prov�id'uig for such fiermination or unCil Termination ia reqiiiied by Applicable Law. Nothing in this Secrioli 7 0 afFccts Borrowex's oblignCion ta pay interest at the rate provided in the Note. Nlortgagc Tiisurauce rein�biu�ees Lender (or auy ent'ity thati pm'chases the Note) for cerfain losscs it may 3ncur if Borrower does iiot xepay the Loan as agreed. Iirn�rower is not a garty to U�e Morhgnge Insiu'nnoe. Mortgage insurers evniunte their total risk on all such i�,�surance in forcc from lime Co 6ime, and may enter into agreemente witli other pazties that ahare or modify lheir risk, or reduoe loases. These agreements are on terme aucl conditia�s tl�at aro sa�isfactory lo [he mortgege inetuer and Yhe othes'party(or parties)to tl�esc agrcoineuts. These lgceements may require tlie mortiga�ge insLtrar to make paymunte tisivg any source of fimda thaC the martgnge instuer may haue availaUle(which inay indude fimds ohCained 'fiom Mortgage Hisurtmce premiums). t�s n resulf of these agreements, Lender, aoy purchascr of Yhe Nole, anofher insurer, atry reinsmer, any otlxer entity, or auy aftiliate of a�iy of the farcgoing, nlay receive(directly or indirectly) unotwta fliat derivo from (or mig1it be cl�aractcrized�A) a por�ion of Borrower's�a�yinents for Mort�gage Ine�irancq in cxchange for �hruing or u�odiTying the mortgage insurer's risle, or rcd�icing losses. If cuch agreement�rovides that an nffilieke of Lander takes a sl�are of kh�ineurer's risk in exchange for �share of'tihe preiniums paid to tl�e insm�eir, the arrangcm�cuti is afCeu termed "captive reinsurauce." Further: (a) Ariy suah agreemenCs will not affect the Amoimds thaC 13orrower l�as agroed to pny for Mm•tgngc Ineurancc, or ruy other tern�s of tlie Loan. Such agreemeuts will not incrcese the a�momrt Borrower will owe fm�Mortgage Insnranee, and tl�oy will not cnkitle Rm•rower lo any reflmd. (b) Any such agree�nents wil�i�ot affecC the rigLfs Bortrowec has-if any-with rospect to t6e Murtg:�ge Irist�rance mider tlie IIaneownere ProtecLion Act o1'1998 or nny otlier law. 'I'}iese righfs � may inclnde tlie r�,ht to reccive cortai�i disclosiu�es, to requesC and obCain cancellaHm�uf tlie Mortgagc Insurnnec, to have khe 1l9ortg:�ge Iusnr�nce Cermivated nntomaticnlly, nnd/m� to receive a refinid of any Mortgnge Iusnrnnce preminms Yltnt wore mi¢arned at tlie time o1'such etlncella4imi m termination. � 71. Assignment of M iscellaneous ProCeeds; Forfeiture. �111 Miecel1a„ec�us,Proceede nre hereby assigned to anct shnll be paid to Lender. If the Propercy is clamnged, such Miscellaneous Proceeds shall bc applied ho restorafiou at re�eir of the Property, i£the xestoratiou or repair is eco�iomically feasible and Lender's aecurity is not laesened. Dwing such repAir end restioration period, 1,ondcr eUall liave the right to hold such Miscellaneous Proceeds until Lendar has had an opportunity lo ii�spect suoh Property Co ensttce the worlc has l�eon complotecl to Lencier's — � -- 240022]B NEBfiASKA-Single Fam Ily-Fannle M aNFretldle M ac UNIFORId MSTRO M[NT Potm 3020 7l01 VM P� VM FB(NE�(1106) W olters IQuw er Rnanclal Services Page 8 of 7]