My WebLink
|
Help
|
About
|
Sign Out
Browse
201211196
LFImages
>
Deeds
>
Deeds By Year
>
2012
>
201211196
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/20/2017 10:08:40 AM
Creation date
12/31/2012 10:48:55 AM
Metadata
Fields
Template:
DEEDS
Inst Number
201211196
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
17
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
201211196 <br /> continue to pay to Lender the amount of the separately designated paymeirts that were due when the <br /> �nsurance coverage ceased to be in effect. Lender will accept, nse and retain th�e payments as a <br /> non-ref"undable loss reserve in lieu of Mortgage Insurance. Such.loss reserve sha11 be non rcfundable, <br /> notwithstanding the fact t1aaY the Loan is ulrimate]y paid in full, and Lender shall not be required to pay <br /> Boxrower any interest ar earnings on such loss reseme. Lender can no longer require loss reserve pa}�ments <br /> if Mortgage Insurance coverage(in the aznount and for the period thaf Lend�requires)prooided by an <br /> rnsurer selecTed by Lender again becomes auailable, is obtained, and Lender requires separately designated <br /> paymeni towazd the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a <br /> condirien of xnaking the Loan and Borrower was required to make separately designated payments towazd the <br /> premiums£or Mortgage Insurancc, Borrower skall pay the premiums required to inaintain Mortgage <br /> Insurance in effect, or fo provide a noa-re£undable loss xeserve, until Lender's requirement for Mortgage <br /> Ins�ance ends ut accosdance with any w,-ilten agreement betweeu Bonower and Lender providing£or such <br /> termiaation or zmtil tennination is required by Applicable Law. Notlung in this Sec;rion 10 affecCs <br /> Borrower's obligalion to pay interest at the rate provided in the Note. <br /> Mortgage Insurance reimburses Lender(or any entity that purchases the Note) for certain losses it may incur <br /> if Borrower does not repay the Loan as agreed. Borrower is not a pazty to the Mortgage Insurance. <br /> Mortgage ins2�rers evaluate their total risk on all such insurance in force from time to time, and may enter <br /> into agrecments with other parties that shaze or modify their risk, or reduce losses. These agreeuzents are on <br /> terms and condirions that are satisfacEory to the mortgage insiffer and the other party(or parties) to these <br /> agreements. These agreements may require the mortn ge insurer fo make payments using any source oP funds <br /> that the mortgage insurer may have available(which may include funds obfained from Morfgage Insurance <br /> preiniuxns). <br /> As a result of these agreexnents, Lender, any purchaser of the Note, another insurer, any reinsurer, any other <br /> entity, or any affiliaYe of any of the foregoing, may receive(directly or indirec�ly) amounts that derive uom <br /> (ar mighC be chazacterized as) a portion of Borxower's payments fur Mortgage Insurance, in exchange for <br /> sharing or modiPying the mortgage insurer's risk, or reducing losses. If such ageement provides that an <br /> affiliate of Lender Takes a share of the insurer's risk in exchange for a shaze of the premiums paid to the <br /> insurer, the arrangcinent is often termed"captive reinsurance." Further: <br /> (a) Any such agreements will not affect the amounts tUat Borrower has agreed to pay for iVioxtgage <br /> Inaurxnce, or any othcr terms of the Loan. Such agreements will not increase tlie amount <br /> Borrower will owe for Vlortgage Insurance; and they�vill not entifle Barrotiver to any refund. <br /> (b) Any such ab eements rvill not affect the rights Sorrower has-if any-with respect to the <br /> Mortgage Insnranee under tUe Homeowners Protection Act of 1998 or anv othcr la.�i�. These rights <br /> may include the right to receive certaih disclosures, to request and obtain cancellati0n of the <br /> Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive <br /> a refund of any vlortgAge Insurance premiums that were unearned at the time of such <br /> cancellafion or ter��inafion, <br /> 11. Assignment of M iscellaneous Proceeds; ForfeRure. All Miscellaneous Proceeds are hereby assigned to <br /> and shall be paid to Lender. <br /> If the Property is damaged, such Miscellaneou�Proceeds shall.be applied to restoration or repai.r of the <br /> Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During <br /> such repair and restoxation period, Lender shall have the right to hold such Miscellaneoue Pxoceeds until <br /> Lender has had an oppoxtunify to inspect sueh Prapexty to ensure tha work has been completed to Lender's <br /> zaooszei <br /> NFBrZASKASingle Famity-Fannie MaeJFretldie hlac UNIFOWd INSTRUM ENT Form 3028 V01 <br /> 4MP� VMPB(H�(1105) <br /> W oliers Kluw er Flnancial Services Page 9 of'I] <br />
The URL can be used to link to this page
Your browser does not support the video tag.