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201210954 <br /> conCinue to pay to l,ender fhe atnount of the aeparately dasignated paytnents that were dne when the <br /> ivaurance coverage ceased Lo be in cffcct. Lcndcr will accept, use and retain these payments as a <br /> non-refundable los�reserve in lieu oPMortgage InsLirance. Such loss roaetvo s1�all Ue non-refuudable, <br /> not�vithsCandvig ihe fnct that the Loan is ultinintely paicl in full, and Lencier nhall not be rcquired to pay <br /> Borrower airv interest or earnings on such loss reseive. Leuder cnu no longer require loss reseive p�ymcnte <br /> if MorCgage Gisurance coverage(in fl�e amount and for tl�e period that Lander requires)provicled by nn <br /> insurer selected by Levdex ag�in Ueoon�e.� avlilable, is obtaincd, aiid Lender requires sepaa'ately desiguaCed <br /> payments toward the premiums for Mortgage Insurnnce. If Lender required Martgage Insurance es a <br /> condition of maldng the I.,oa�i aud Borrower was required Co v�alce separately designaked payments toward the <br /> ptemiwve �for Mprtgagc Inem'ano�, Borrower �hall pay the premiun�s required fo m�.intain Mortgage <br /> Insura�ice in effect, or to provicle a non-refundaUle loss reseive, until Lender's requirement for Mortgage <br /> insurance ends in accordanoe�ii1i a�ry written agreement Uetween Borrower�nd Lender providing for auch <br /> termination or until termii�ation is required by Applicable Law. Nothing in tlus SecUon tD affects <br /> Borrower's obligafion fo pay inCerest af fhe raie pirovided in Che Note. <br /> Mort�gage Inai�rance rcin2bm�ecs L,cnder(oe any c��tity that p4�rel�asos khc �ote) for certain 1osses ik may incur <br /> if Boxrok�er does not repny the Loan as egreed. Borrower is not n pprry co che Mortgage Insiunnoe. <br /> Mort�age ineiarers ev�luate their total riek on all such insurance in force from time to time, and may enher <br /> into agreements with other partias ldiat share or modify their riak, or reduce losses. Thesa agaeements ere on <br /> tonns anci conditions fhat are satisfactory to thc morEgage insurcr and the other party(or�arties)to�these <br /> ngreeinents. These�greements may require the mortgage insurer to make paymatits ueing any sourca of funds <br /> thet the mortgage inaureL may have available(which may iuclude funde obtained from Martgage Insur�uice <br /> preiniwns). <br /> As a reautt of these agreements, Lender, any puxchaser of'the Note, another insm�er, Any reinsurer, nny other <br /> entity, or any affiliaCe of viy of the foregoing, mny receive(directly or indirectly) aanonnts that deriva fl�om <br /> (or might bc chaxactcrizcd as) a portion of Borrowor's payn�cnLs for Mortgago Insurancq in cxcharzgc f�r <br /> shfuing or moclifying the rnortgag€ins�uer's riek, or reducing losses. If such egraement provide� tha[an <br /> lffiliate of Lendar t�lces a share of the insurer's rislc in exchange ior a shue oi'Uie premiuins paid to the <br /> uism'e�', th�atrange�neut is oftctt tcrmed "captivo roinsurzncc." Furtl�er: <br /> (a) Any snch agreements will nok affect tl�e amonnts tliat Barrower has agreed to pay for Mm�tgage <br /> Ineurnnco, or any otl�er Cei�ne oF tlic Loan. Sach agrocmcnts will not iucreasc thc emoimt <br /> Borrower wlll owe for Mortgage Iusnrmiae, and fhey will not enfiUe Rorruwer to any reYwid. <br /> (b) An,y sucl� agrecments will not nfFcct tl�e ri�lits Borirower hns-if nny-with respcct to Uie <br /> Mw�tgngc Insurance mider fl�e Hu�neoWners�Protecfion Act of�1998 or uny okher law. These iights <br /> ms�y inclu�le the rigl�t to receive carfaiu di5cloNnre.c, to reqnest aud obUain cnncellnCimi of Clie <br /> Mortgnge Insnrnnce, to liave the Mo��tgngc Insnrnnec torminatod nntomnftcall,y, andlor to reccivc <br /> a rePmid of any Mortgnge Insm•nnce preiniimis thxt were unexrne�t xt the tin�e uf sucl� <br /> cancellation m•tern�ination. <br /> 11, Assignment of M iscellaneous Proeeeds; ForFeiture. E111 Miscell�neous Proceeds are hereby assigned to <br /> and sliall be pnid to Leucler. <br /> If tl�c Property is daivaged, such Miacellaneous Prooeeds sh�ll be applied to restoretion or repnir oF the <br /> Property, if fl�e restoration or xepair is economically feasible nnd Lender's secm�ity is not lesseued. Dwing <br /> such repair and restoration period, Lendar shall haue tl�e right to hold such Miecelluieous Proceeds uuEil <br /> Lender has had an opportw�ity to inspecf sucl� 'Property to cnnuro tho worlc hne bec;�x com�lehed to Lciider's <br /> — -- ---- eaoasiaa <br /> NE[1MSKA-Single Gamily-Fannla MaelFretldle Mac 11NIFORh7 INSfRUIvIENI' Form 3028 110T <br /> VM P� VMPO(NE)(1105) <br /> W olters Kluw er Finenclal SerNces Pa90 9 of 7 Y <br />