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201209036 <br /> coi�tinue to pay to 1',e�tcler the amotwt oP the separately design�ted paymenSs U�at we�e dtite when the <br /> insurance ooverage ceased to lle in effcct. Leuder will accept, use and retain these payinanis as a <br /> non-refiuidable loss r�serve in lieu of Morbgnge Insuranca. Such loss reserve sha11 Ue uon-refundable, <br /> uotw�Yhstanding the fact that the Loau is ultiinately pAid in full, And Lencier�12a11 not be reqnired ko pay <br /> Boirower nny int�resC or earnings on such loss reseive, Lender evi no longer require loss reserve�aymcnts <br /> if Mortgage Insurnnce coverage(in the�i�ounL anci fx�r thc�criod fl�at Lender eequires)provided by au <br /> insurer selected by Lender again becomes availeble, is obtained, and Lcnder requires sepa��ately desig�uatecl <br /> payinents towaa'd the premimns f'or Mortigage Insw•ance. lf Lender required Mortgagc; fnsuratice ae a <br /> wnclition of maldi�g the Loan�uid I3orrower was reqttu'ed to make eeparately deaignafed paymcnts tnward flie <br /> premiuws for Mortgago Insurancq Sorrower sl�all pay the premiums requirod to meinfein Mortgage <br /> Listuauce in ePfect, or to�rovide a non-refundable loss reserve, �mtil Lencier's requieerne�it for Mortbage <br /> insLtrancc cnds in accordance witl� ury written a�reement UaCween Borrowex and Lender providing for sucl� <br /> fern�inaCion or imCil I;ermination is required Uy ArplicaUle Law..Noktiing ni tliis Section 10 n£fects <br /> Bon•ower'a obligeEion to pay iuterest at the rate provided in fhe Nofe. <br /> Mortgflge Tneurance reimUuraes Lender(or eny entity[hau purc(ias�s Uio Notc) for ce��taiii losses it may incur <br /> iP Borrower doee noC repay tlie Loaai as agreed. Borrower is not a pnrty to ehe MorCgage Insurancc;. <br /> Ivlortgage insurera evnluate their total risk on 2ll siich insurance in Porce fi�oin timo to time, and,may enter <br /> into ageeements with other parties thaY shz�e or modify their riak, or reclnce losses. Tliese agreenic�nLc arc on <br /> terms uid conclitions that aa'e saTisfactory to Uie inorEgage ivstuer and die oEher p�rty(or pnrtiea) to these <br /> agreeincn6s. Tlies�agre�nilen4s iriay rcquiYr.U�c moitgagc insuror to iiiake paymentis using airy som�ce of fimds <br /> that the inortgage insuxer may l�ave aveilable(which may include fiincis oblaincci fiam Mortgago [�7sm•anca <br /> preinitiims). <br /> As a result of these agreements, Lender, auy pwohzser of the NoCe, auother insurer, any reiiisurer, any ofher <br /> entity, or any aLfiiliate of tury of tl�e forcgoiiig, may rcccive(dircctly or �idirectly) aanounts that derive fi•om <br /> (or inight be charactei7aed as) a portion of Bori•ower's payinenls Por Mortgago Ineuranco, in exchange for <br /> sharing or inodiiying fhe mortgage insurer's riek, or reduciug losses. If such ngreemeu�providoe lhaC an <br /> affiliate of I,e�xler tnkes a share of the i�tstu�er's risk iu exchange i'ar a share of the preminms paid to the <br /> ine��rer, the zrrangcn�ent is often tenncd "captivo rcine�n•ance." Fnrther: <br /> (a) Any encli agreements will not affect the amounts that Iiorrower hns a�•eed tu pay for Mortg:ige <br /> Inenranec, or any othcr tcrms of tl�o Zoan. Sncl� ngreemenCs will not increase Cl�e ammmC <br /> Bm�•ower will owe for Mortgage Insia•ance, �iud tl�ey wIIl uot ent�itic Borrower to nny refnnd. <br /> (b) Any suuh xgreements will nut siff'ect the rights Rorrower lins -iF any- witli respect to the <br /> Moe�tgnge Inynrance iuider tlie Homeo�v�rers 1'�•ol;ectim� Act of,1998 pr:u�y oCher law. Tlicse rigl�ts <br /> mny incleido 4hc right Co raccive certaiu diaclosnres, to request riud obla9n csumaltation of Che <br /> Mortgnge l�is�ar:mce, tu l�ave tlie Mortgngc Insiu•nncc torminaCed anComaCicnlly, nnd/m� to receive <br /> a ref'and of any Mortgage Insurxnce premiaaus that were m�enrued at the tnne of sucli <br /> cancell�tion or terininaCion. <br /> 19. Assig�5ment of M iseellaneous Proceeds; ForFeiture, AI1 Miscellaneous Proceeds Are hereUy easignecl W <br /> �id shall be pnid to Lendet. <br /> If the Property is dameged, suoh Misoellaneous Proceeds shall be applied tio restoration m repair of The <br /> Property, if the restoration or repair is econoinically feasible aud Lender'e aecurity is noe leaser�ed. During <br /> eucl�i repair and restoraCion period, Lendcr sl�all havc thc r•ight fo hold euoh Miscellaneous Prooeeds until <br /> Lender has had an oppar tunity Co inepect sneh Property to ensure Che wurk has bccn completed to I,ender's <br /> saoozsoo <br /> N[RPoISICA-Sin910 Famlly-Fannie MaelFreddie idac UNIFORId INSTRl1MENT Porm 3028 ilni <br /> VNIP U VMP6(NE)(1105) <br /> Wolta�s Kluw sr FNanclal Servlces Pege e oi 19 <br />