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201211203 <br /> con6nue to pay to Lend�'the amount of the soparately designnted payinents fh�t wero due when the <br /> insur�ncc coveraga ceased Co Uc in effecY. Lender�vill accapt, use and retaiu these payments as a <br /> non-refundablo loes reseive in lieu of Mortgage Inai�ratice. Such loss reservo shall be non-refimdable, <br /> notwithstnnding the fact thati the Loan is i�tiu�ately paid in fnll, and l�ider shall not be required to pay <br /> Borrower any intereet or e2rniugs on auch losa re�vK va. Lender oan no longer aequire loas reseiva payments <br /> if Moxlgage�insurauce coverage(in the amount nnd for thc period Ydiat Lendcr requires)pcovided by an <br /> ineurer selected by Lender again becomos available, is obfained, and Lender requiras separately designated <br /> payments Coward tho premiwns for Mor[gage Insma�ioa. If Lender i�equired Mortgage Insucance as a <br /> condition of mAlring [he Loan and Borrower was ru1Lured to ni�lze separately designnted payments townrd (he <br /> premiwns for Mortgnge Insurance, Borrower shall pay the premiums required to maintain Mortgage <br /> Tnsm•u;�ce in cffeck, or to provide a uon-refundable loes reseroq until Lender's requiremeuC for Muilgago <br /> Insurat�ce ends in a000rdaqca with ury v�ritteu agrceinent between IIorrower and Lender providing for suoh <br /> tertnination or tmtil tarminaLion is reqnired by Applicnblc Law. Nothing in this Sectiou 70 affects <br /> Borrower's obligation to pay interese at the rate providetl in the Note. <br /> Mortgage Insnrance reimburses Lender{or any eutity thaC pw chases the Nole) for certaui losses it may iucm <br /> iP 73on�ower does uoC repay t1ie L,oan as ngret;d. Borrowar ie not a pazty to Che MorCgago Insw�ance. <br /> Mortg�ge insurer� e�valuate their Wtal riek on all such ineuranco in force from time to time, and may entor <br /> i�ito agreements with ofl�er parties Chat ehue or moclify thei�•risk, or rednce loases. The�e agreeinents [u•e on <br /> terms aztd conditions that aro satisfactory W the mortgage insurer and Lhe other party(or pnrues)to Uiese <br /> agreemente. These agreements niay require the moTtgagc instiu�er to make payme�its usiug Any source of fiuide <br /> thak the morCgnge insurer mny ha�e available(which mny incluflo funds obtained frou� Mortgage Ittsurancc <br /> preinimns). <br /> As a resulC oP ehcae agreaments, Lender, suy purchaser of the Note, another insurer, any roinsLuer, any other <br /> eurity, or any flffiliate of any of the foregoing, may receiva(directly or ivdirectly) a�nounts ChaC dorive from <br /> (or might ba chaa�acCerized as)a portion of Borrower's payments for iVIartgage Insuranca, in exchange Por <br /> shering or inodifying Yhe mortg�ge insurer's risk, or reclucing losecs. If such agreemenc provides tlutit an <br /> affiliate of Lendcr ta1<es a share of the insurer's risk in excliange for a sl�are of the premiuma p�ici To the <br /> insurer, the nrrarigemc��t iy oftan termed "cflptive roinaLuance." Further; <br /> (a) Auy snch agreernents will not nffect the mno�mts that Borrower li�s agreed to pxy for Martgage <br /> Inyurnnw, or anp other terms of tho Loan. Snch�greements will not increase llie arnmmt <br /> 13m•rower will owc for MorCgage insurance, and they will not entitle Borrowor to flny ret`u�7d. <br /> (b) Any each .�grcoments will nol:affect the riglrts Borrower l�as -if airy-witli rcepect to CLe <br /> Mox•tgnge Insurance nudor the ILomeowne�v Protection Elct of 1995 or any other lnwo Tltese rigl�Cs <br /> mny inclnde the righti to receive cortAin disclnsures, to request and obtaiu cancell�Cio�a of t]io <br /> Mm•tgage Insurnnce, to Lave Che Mortgxge Insnrance tern�inaCed antomndcnlly, nnd/or Co receive <br /> n refnnd of any Mortga�e Insurance premiums thtlt wcrc miearned at the ti�ne uf snoh <br /> enncellaUou or termination. <br /> 11. Assignment of M iscellaneous Proceeds; ForFeiture. All Miscellnneous Proceeds are hereby nssigned to <br /> and slinll be paid to I.ender. <br /> If the Prnperty is damaged, such Misoellaneo�is Yroceeds shall be applied �p restoration or repair of the <br /> Property, if the rcastnratio�i or repair is eoonouuoally foasil�1e and Lender's security is not lesseaed. Dwing <br /> euch rapau• ttnd restoration poriod, l,e�ider shall haue the a•igEil to hold such Miscellaneotis Pa•ocecds unNl <br /> I,endor has l�ad an opportunity fo inspect sucl�ProperCy Co ensure the work I�as been coinpleted to Leuder's <br /> 24003235 <br /> N EBRA9KA-3ingle Fem Ily-fannie M eelFreddle M ea UNIFORM IN8TRUM ENT Form 3028 1101 <br /> VM P(�n V1.4 P6(NE)(1105) <br /> WOIteFs Kluwer Flnenclsl Servlces page 9 of 1/ <br />