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201210891 <br /> continue to pay to Lender the nmotimt of the separately designated payments that we�e duc wheu thc <br /> insurance covet�age ceased to Ue in effect. Lende� will accept, use atul retvn fhese payments ae n <br /> non-refimdable losa rese�ve in lieu of Morcgago Insurancc. Such loss reserve shall be non-refundable, <br /> notwithstviding the fact thaY the LoAn is ulHmately paid in fiil1, and Lender shall not bo rcquired to pay <br /> Aorrower any interest or earnings on such loss reserve. Lender can no longer require lose reserve p�ymenta <br /> if Mortgago,Insurance covcragc(in N�e amoLwt a��d for the period tliat Lender reqLiires)peovic1ed by an <br /> ir�surer selec��eci by Lender again becoines availablc, is obtiaincd, and T,ender requires separat�ly designated � <br /> payulenCs tow�rd the premiume fox 1Vlortgnge Insurance. IP Lender rcquired Mortgage hisurance as a <br /> condition ef mnlcing the Loen end Boxxowex was reqnired to malce se�arately dcsigiiated payments towaz•d the <br /> preiniwns for Mortgnge Insw anae, Borrower shnll pay the prerniume required to maicitaiu Morlgage <br /> H�suxaiice in effecC, or tio provicia tt non-rofuiid•able lotis rascrvq until Lender'y requireinanC for Mortgage <br /> Inaurauce ends in�ccordence with nny written agreement between Borroa✓e� and Le�ider�roviding for such <br /> tenninatiion or until terminatioix is required by Applioable Law. Notlung in thie Section 10 affecls <br /> B�arrowcr's obligafion to pay interest at khc rateprovidai iu tl�e Note. <br /> Mortgage Uzsm'ancc rcimburees Levdar(or any ontity tl�at purchases the Note) for cerfaiu losses it inay incm' <br /> if Borrower does ixot repny the Lo�i1 as agreed, Borrower is not a parly t'o fhe Mortgagc insurancc. <br /> Mortbage 'rnsurers evaluatc thcir total rislc on all sucl� insurnncc in force from tiine to time, and inay enter <br /> inlo agreemenks with oU�er parhies LhaC share or modify lheir rislc, or reduco losses. Thcsc agreoments arc rn� <br /> te�7ns nnci oondiiions khet ere s�tisfnetory to the mortgnge inanrer And the o[her pu�ty(or p�rties) to these <br /> agreemente. These agreements may require Yhe inortgnge insurer to mzke paymenEs uaing any eource of funds <br /> Chat tlie inortgage insm'er may l�ave available(wl�ich may inchule fimds obtained finm Mortgage Insurance <br /> premiume). <br /> As a resull of Lhese ngteemenls, Lender, anypurohaser of fhe NoCe, another n�surer, atny reinsurer, any otiher <br /> en6ty, or any affiliate of any of the fbragoing, mny receivo(direcYly or indirectly) amounts that derive fi om <br /> (or inight Ue characterized as) a portion of Borrower's payinents for Mortgage Insurance, in excl�ange for <br /> shnring or modifying tho mortgagc insurcr's rislc, or reciucirig losses. If s�ivh ageccment provides tl�at an <br /> affiliate of Lender takes a ahare of Che insurer's riak ui exehtuige for a sl�are oP tl�e pren�imns paid lo Che <br /> insurer, the nrrangement is often termed "cAptive reivam�ance." Purther: <br /> (a) Airy sncit agreemcnts will not nffcct thc amoants that Borro�ti�cr has agreed to pay for Mortgagc <br /> Insm�auce, or ��ny otlier terms of tl�e T,o.ui. Such agreemenYs will not i�icirease the nmomit <br /> 13orrower will owe for Mortgage Insnrance, and tltey will noC enCiCle Bmrower ln any refnnd. <br /> (b) Any snclx ngree�nents will not affecf Che riglils Borrower Itfls-if any-wiltc respecC to Cl�e <br /> Mortgagc Insurancc m�dcr tl�c IIomcowncrs ProCcctimi Act of 1998 or nny ekl�cr]nw. 'Tlmsc riglits <br /> m.�y include tlle right tu reeeive eeY•tain diSclosures, t'o reqae.st and obt��in cancell.�kion of the <br /> M�rCgage Insurnnce, to hnve CLe VIorfgnge vtsm•ance tern�inated nuComaCically, and/nr Co receive <br /> n refnnd of any Mortgn�c Insnrance preminma tl�at wciro nucarned nt tlie time of such <br /> canccllation or tcrinination. <br /> 1 7. Assignment of M iscellaneous Proceeds; Forfeiture. All Miscellnneous Proceecis are hereby nssigned to <br /> and shall be paid to Lender. <br /> If the PAroparty is da�naged, suoh Miscell�uieous Proeeeds shall Ue applied to restoraYion oi rep�ir of the <br /> 'Pro}�er[y, ik'tha restor��ion or repair is wonoruical1y foasiblo and Londor's socurity is uot lesseued. Dwing <br /> suoh repaiz�nnd restor�6ion period, Lender shell have the right to hold sueh Miscellaneous Proceeds nntil <br /> Lender has had an opporlunity to inspeot such Property to ensm e the work has been completed to Lender's <br /> znooaixe <br /> NfORA51(A-Single Family-Fannie M ae7Predtlie M ac 11NIPOWd INSTRUM GNT Po�m 3020 1/01 <br /> VM P(� VM P6(NE)(1105) <br /> Wolters Kluwer Flnanolal Servlces Page 9 of 17 <br />