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201208989 <br /> con6b�ic to pay Eo Lendec the flrnount of'Yhe sepa��ately designatcd paymcut�s Chal were due when the� <br /> insm�nce coverage ceased to be in efFect. T,ender will acoe�t, use and recain theee paymenYs as a <br /> non-refundaUle losa resarve in 1icu ofMortgage Inauranae. Such loss raserve shall be uon-rafixndaBle, <br /> notwitl�standing tho fact thal the Lo�n is ultimatelq paid in litll, and Lender shall not be requirui to pay <br /> Barrower any inferest or earning�s ou sttch loss reserve. L�ndcr can no longer require losa reserve paymeaits <br /> if Mortg�ge Snsurance coverage(in the amount aud Por the period thnt I,ender i equires)provided by an <br /> instu'�r selectied Uy],ande� again becomes av�il�ble, is obtained, vid Lender requires separately des'rgnatod <br /> payments toward tlic preiniums 1'or Martgage Insurazice. IFLendet requn•ed Mortgago insurance as a <br /> condi6on of n�leing tha Loan And Borrower was required ko malcc scparatcly deaigiaied payments toward the <br /> premiums Cor Martgage Insurance, Borrower�hall pay the pre�niuma required to nzaintain Mortgage <br /> Tnauranee iu e'Ff'ect, or to providc a non-refundn6le loss raserve, mitil Lender's requirement f�r MorCgage <br /> Insurance ends iti accordanoe with any writYen agreainent between 13orrower and Lender providing£or suah <br /> terminadon or imtil terminnrion is reqttired by A,pplicable L1w. Nofhing in tkus Section 1�0 affects <br /> Bon�ower's obligation to pay inte��est at Yl�c i'nte provic�ed in the Note. <br /> MorCgage Snauxence reiinUurses Le��dor(or auy enCity thflf purchases the Note) f'or oertain los+�cn it may incur <br /> if Borrowar does not rcpay fhe Lo�n as �greed. IIorrower is not a party fo thc MorCgage Hisurauce. <br /> Mortgage lnsurers evaluate thoir total risk on all such instu'ance in Porce fi�oin timo to time, and may enter <br /> into agreainents with otl�cr parlies that ehnre or modify their risk, ot reduw losses, These ngreemeiiCs ue on <br /> tierms aud conditions thaC are satisfnetory to the mortgage insurcr�id Che other party(or paz•tios)to tliesa <br /> agreemc7its. 'I'hese ngreements inay reqture 11ie�mort�ago insurar to mnke payments using� any sow'ce of fimds <br /> that th�mortgage insurer may haue a�vail<�le(wiiid>>nny inclnde funds obtained ti�om Mortga�be Insura�ice <br /> preininn�s). <br /> As a result oP Chese agreements, I,onder, any purchaser of the Note, anoCher i��stiu e��, any rcinsnrer, �ny other <br /> e.�itity, or any aPfiliatc of zmy oP the£oregoing, may recaive(directly�or indircetly}amonnts that derive from <br /> (or might bc chtu�neterized as) ¢portioix of Borrowcr's p2yi�i�enCs for Martgege Snsurence, in exchauge for <br /> sharing or xnodifying the mortgage insurcr's risk, or retlLtcing losses. If sttch agreement provido� thaC fln <br /> nfiiliate of Lender t�lces a�hare of Lhe ineurer's risk in exchaxige for a ehxre of thc premiuine paid to tha <br /> insurer, the arrangeme�iC is often termed "captiive reinsurat�cc." N'urCl�c�r; <br /> (a) Any sach agreemenfs will not affccC tlie ��monnts lh�C Bm�•ower lias agreed to pay for Mortgage <br /> L�m�ance, or anq ot6cr tcrms o1'khe t',osin. Such agreements will not incrcasc tlic nmom�t <br /> Bor�rowcr will owe 1'or l�lorf�;age insurance, nnd thoy will not ontitle Borrower to any refond, <br /> (b) Any snch agrccments will not affecC t}ie rIghCs Boreower lias -if nny-with respect to tl�e <br /> 1VIortgage [nsnraixee iwcler dte IIomeowt[cre Protectimi Act of' 1995 or any oLl�er]nw. Tltese rights <br /> ivay inclnde the right Co roceivo cert�in disclosw'es, Co reqnesl and obtai�t cattccl[atiou of thc <br /> Mortgngc Iusm�unoe, f.o hnve Cl�e MprCgage Insm•anec tormivatcd autom�tically, and/ur to receive <br /> a refiuid of tiny i�IorCgage Insnrance prc�uiimia t�xt were m�earned :�t tlie time nf sncli <br /> cancellntion or termivafSon. <br /> 11. Assignment of M isaellaneous Proceeds; �orPeiture. All Miscell��eous Procecds are heraby nssig�iul to <br /> and sUall be�aid (o Lender. <br /> lf the Propc�'ty is ciam�ged, auoh Miscellaneous Proceeds sha11 �e appHeii to restoraCion or repnir o£the <br /> Psoperly, if the restoration or repair is ecouomically fe�sible anci Lencler's seourity ie not lessened. Dming <br /> such r�epair and resCoration period, Londcr shnll have the right Yo hold such Miscellaneous Proceec9s until <br /> T snder has had an opporCimity to inspect such Property to enenre the worlc has been completed to Lender'e� <br /> z400zsns <br /> NEBRA�SKA-Single Famlly-Fannie Maa/Freddie Mac UNIFORhi INSTRUb1Gp'T Fo�m 3020 1701 <br /> VM P� VM P6�NE)(1106) <br /> Wolmrs Kluw cr Finoncial Snrvir.w Pa{�e 9 of 19 <br />