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201210884 con�inue fo pay�to I.ender the ainoun2 of the separately desigiated payments ths.t wae due w3�en E1ae insiaance coverage ccased to be in effeci. I,eue�er will ai;cep:, use and retain 'rhese paymen#s as a nan-refimdable loss reserva in lieu of iVimtgagc Insurav.ce. Such toss reserve�zl1 be non-renindable, natc:rithsttmding the f�ct ttiac fhe Loan is uitimately paid in full, aud Lcndcr shall not be raquired to pay Borrower anp interest or eanungs on cuch loss reseive_ I.erder can no Iongzr zequire loss reservc payments ifMortgage Insurance coveragz(ia 4fie amuunt and far fhe peri.od.that Lead�r reqaire,}prot�dzd by an � insarer selectzd hp�f�endcr again ber.omes auaitahle, is obtained, and Lender requ�sses separately desi�tated. paymeuts to��ard fhe premiums for'Vlortgaga Insurance. If Lender requued Mortaage?nsnrance as a condition o€mak;�a the Loan and Borrower was requirad to�nake sepaz-ately designa.Ced payments foc,Jard iLe premiums for Mortga�e Insw�ance, $orro��er sha11 pay the pramums reqt�,ixed to maintain Nlart�age Instsanc�in e�fect, oF?o�rov�de anon-refiw.dable loss reserve, untii Lendu's requirement for Ilfortgage In��nnavice ends i�e accordance a�it anv R�riYcea sgree.ment bei�een Borenv;er and Lender providing for such terminatian ar nniT1 Yesmination is sequired by Applicable Law Votbing in fl�is Secfion 1��ec;is Barrotker's obligation to pay infaresE at the ra1�grozidad in he Note. Mortgage Insurance rz�nrses Lcuder(or any zvtity tbat purchases the Note}foz czrtain Iossc s ii may incur if Borcowez�does not rcpay the Loaa as av ezd.. Borrower is not a parfy to the yloreaage Insuraace.. Mor!�age znswers evaluate their total ri�k on all sucli�n�**Ance in£orce from Eiane to tune, and may enter info a�ezments u7th oYher pazti�that sharc or modif}�their risk, or rednce Iosses. These ap-eements are on terms and conditions that aze satzsFae:tory to the mortgage insnrer an@ thz other party(cr par[ie>)to these agreemen7�s. These agreeuxents may zequire 1he mortgage iissurer to make payments using any srnuce of fimds fliat tlic mortgage insurer may kave az�ailablc(which may niclude Tuads obtainad from n�lart�e 7nsurenc� premium_,} .A�a resalt of tihese a2reemeuts, Leadez, auy piachaser of ine No�, aziother av-ur�r, am-reinsi..u�zr, any rnher� entity, or aay af6liaTe of anp of the foregou�g, aiay recei,e(ciirectly or indirectli) amonnts that deri�-e from (or might be characterized a,j a porEion of Bor,o�%er',paynents for Mortga�e Iza�uraace, in excbange for sha=-ing or mociifi�ing the moxtezge insuret s rislc or zedu�ng losses. If such ageemeixt pro4zdes thaC an affiliate of Lender takes a s�aare oP ihe insurzr s risk in exchaage£ar a share of the premiums paid ta ffie insurer, tha arra�oe.meut is often fermed"capiive reinsurance."Furthet: {aj ,$ny snch agreements will not af[ecE the amonnfs that Borrower has agreed to pay For 11lcirlg�e Insurance, oz-anv other tesms of the Loan. SucL agrceffients will not increase fhe amoant Borrower wifI oR�e for niortyage 7ns¢rance, and#hey rvill noC entitle Borrower to any refiand. (b) 9�ty snch.agreements wiIl aof affeet thc rights Borrower has-if any-with respect to the Mor€�age Ivsnxance under the Homeo�ers JPeoteciion Act o€1998 or aug other law. These righ.ts map incta.de the right to receire certain clisclusures, to reqnest and obfain cxncellxtian of the 1VXortgage Ins�sance, io have the 1�Tortg�age Iusr.u.•ance terminxfed antomteiacaitp, and/Or to recei�e a ce:Ctnztl of any Dfortgage In�m•ance premi�ms tha.t were unearned at the 13tme of sach canceIlation or termina&on. 91. Assignmetrt of N{isce[laneous Proc2eds; ForF�iture. rllI Miscellaneons Proceeda are hereb�assiu�ed to and sl�all be paid to Lender. Tf the Property is damaged, snch tvliscellaneous Y.`oceed5 shall ba applied to resfordiivn or repair of L71e � Property, if the rdtoral'soa.or repair is cconomically feasi6le 3n@ Lender's security is not lessemed. p�uina sueh repair and rzsioration pzriod, Iznder ahall hxve the right to hold svch Miscellaucous Proceeds until Lender has 7:tad�ogporhlmty to inspzet sucu Property to ensure the work has been cornpleted tio Lendei s N�24SKpSin3laF-en�Tj-F3nnieLlas'�re�Ed:e�A{acIINIFORM�N�TRIIMENT Forn 3�2d 1��05 vn�a� v:.t asM91�t os) Wal4ys Hluv�e�Flnencisl SarvicES pppeg q��y