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201209880 <br /> continue to pay to Lcnder tl�o atnounf of the scparatoly doaignated payn�e�nts that were c�ue when Uie <br /> iitiauranoe coverage censed to he in effect. Lender will accept, use�nd retain these p1}nnenCs as fl <br /> non-refundable lose reaerve in lieu oF Mortgaga Insw ance, Such loss reserve shall be non-refundable, <br /> notwitihstianduig flie fact khat the Loan ie ulfimtztely paid in full, and I,eiider shall not be reqtrired to pay <br /> Borrower an5�interest or cari�ings on euch loss rascrvc, L�7�dar€an no long�r rcquire loss rescrve payi�ents <br /> if Mortgagc Insw�anee coverage(in Che 2momlt and for the period Chat Lender reqiures) provided by an <br /> insi�rer selecfed by Lender again Uecomes available, is obt�ined, aud Lender requices aeperately desiguntec� <br /> payments toward the preinituvs for Mortgage Instu'auce. If I,ender required Mortgage Ivsm�aaice as a <br /> condition of ma1rinb the Loaii and Sorrowcr wah rcquired to malw separately designatod payments toward tl�e <br /> �remiume for Mortgage Insur�nce, Borrower shall pay the pren�iums required to maiutain Martgage <br /> Hiew'ance in effect, or to provido a non-rePundable]oss resc��ve, until Lender's rt;quircmonti f'or Mortgago <br /> Insurancc cnds in accordenoe wiCli�ny written agreement between Borrowet And Lender providing for suoh <br /> kermina6ion or until tei7ninnrion is requn•ed by Applicable Law. Nothing in this Section 10 affects <br /> Borrower's o�lig�tion to p�y interest at the rate�rovided in the Note. <br /> MorCgage Inelun��ce reimburses Lender(or �ny en6ty thet pwchases fhe Note) f'or certain losses it mny incur <br /> if Borrower does not repay the Lozn as agreed. Borrower is not a party to the Mortgage Hisursmce, <br /> Mortgage insm�ers evalunte their total risk on all euoh ii�sluance in Porce fiom tima to time, and may anCer <br /> inEo agreements with ollier parties t1�at sh�re or modify their risle, or rcclucc losses. 'Chcsc agrecmcnts e�rc on <br /> tenne and conditione�thati are saCiefact'oiry Co hhe inorCgnge insm•er and the othet party(or pacties)to thesP <br /> ag}�aemenfs. These agreemenYs may require the mortgage insurer to malce paymenis using auy source of fuuds <br /> thnt the mortgage insurer inay haue available(whicli may include funds o6taincd from M�rtgage Insurai�co <br /> premiwns). <br /> As a restdt of these agreements, l.ender, any purohascr oP Uio Note, anofher insurex, auy reinsi�rer, auy other <br /> entity, or ury affiliate of any of Lhe foregoing m1y reoeive(directly or indirectly) amounts thak derive from <br /> (or might be charaaCerized�s) a partiou of Borrower's pa}nnenCs f'or Mortgage Lisuraxica, in exchauge f'or <br /> aharing ox modifying the mortg�ge insw'er's risk, or reducing losses. If s�ich agrc�;mcnt providas that ai� <br /> affiliate of'Lender takes a sl�are of tl�e insurcr's risk in exch�nge Por n share of tihe preiniim�s pnid to the <br /> ineuree, U�e an'angomenC is often Cermed "caplive reinsuranoe." Purther: <br /> (a) Any sncli agx�comcnts will not nf'fcct the :uno�mts tlaat 13orrower hns agreed to pay for Morlgnge <br /> Inem�nnce, or ��ny uther tenns of iJ�e Losn, SncL agreem0nts will not inerease Uie nmonnt <br /> 13orro�ver wlll owe for Mm�tgage Insnrnnce, nnd they will not cntitle Borrowcr to a�iy refnnd. <br /> (b) Any such���;reemenls will noC nffecl tlie righis Borrower has -if any-with rospect to tl�o <br /> Mortgage inenrance xmcier tlie IIomeowners ProYcctim�Act of 1998 m� sury otlier l;�w. Tl�ese rigLts <br /> may inclnde the right to rcccivo ccrCain disclosm�es, to request:md obtain cancellaCim� of Che <br /> Mortgnge b�enrance, to hsive tl�e Mortg:�ge Insurance Cer�x�inatad anComaticalty, and/or to receive <br /> n refmid of a�ny Mor6gage[nSm�ance pre�ninms thaC were nneniy�ed at the timc of sacl� <br /> cancellntion or teriuination. <br /> 11. Assignment of M iseellaneous PYOCeeds; FOYfeltul'e. All Miscellaneous Proceeds zue hareUy assigned to <br /> and ahall be paicl to LendeL�. <br /> If flie Properly is dameged, sueh Miscellaneoue Proceede shall Ue applieci to restoration or rep2ir oP Che <br /> Properly, if the restoration or repair is ecrn�cimicEilly fcaeible nnd Lencier'e aeoLu�ity is not lesaened. During <br /> such repair aud restoration period, Lcnder sl�all h�ve lhe righY to hold such Miscell�uieous Proceeds tmtil <br /> Lendet has had an opporlunily to inapeot such Property to ensure tlia work has Ueen comgleted Co l.ender's <br /> zqoaeazs <br /> NEBMSKA-Sinple Famlly-Fannle Mee/Freddie Pdoc 11NIFORM WSTRUMfNT Form 3028 7/O7 <br /> 4M P� VM P2(NGJ(t 106) <br /> Wolters Kluwer Plnanolal 9nrvloes Pa9e 9 of 17 <br />