|
201303961
<br /> pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if
<br /> Mortgage Insurance coverage(in the amount and for the period that Lender requires)provided by an insurer selected
<br /> by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the
<br /> premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and
<br /> Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br /> Borrower shall pay the premiums required to maintain Mortgage Insurance in effect,or to provide a non-refundable
<br /> loss reserve. until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement
<br /> between Borrower and Lender providing for such termination or until termination is required by Applicable Law.
<br /> Nothing in this Section 10 affects Borrower's obligation 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
<br /> incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br /> Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter
<br /> into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms
<br /> and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements.
<br /> These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage
<br /> insurer may have available(which may include funds obtained from Mortgage Insurance premiums).
<br /> As a result of these agreements, Lender,any purchaser of the Note,another insurer,any reinsurer, any other
<br /> entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or
<br /> might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or
<br /> modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender
<br /> takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is
<br /> often termed"captive reinsurance." Further:
<br /> (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br /> Insurance,or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe
<br /> for Mortgage Insurance,and they will not entitle Borrower to any refund.
<br /> (b) Any such agreements will not affect the rights Borrower has — if any — with respect to the
<br /> Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may
<br /> include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance,
<br /> to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage
<br /> Insurance premiums that were unearned at the time of such cancellation or termination.
<br /> 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br /> assigned to and shall be paid to Lender.
<br /> If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br /> Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such
<br /> repair and restoration period,Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had
<br /> an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided
<br /> that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single
<br /> disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing
<br /> or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,Lender shall not be required to pay
<br /> Borrower any interest or earnings on such Miscellaneous Proceeds. if the restoration or repair is not economically
<br /> feasible or Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by
<br /> this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous
<br /> Proceeds shall be applied in the order provided for in Section 2.
<br /> In the event of a total taking,destruction, or loss in value of the Property,the Miscellaneous Proceeds shall
<br /> be applied to the sums secured by this Security Instrument,whether or not then due,with the excess, if any,paid to
<br /> Borrower.
<br /> In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of
<br /> the Property immediately before the partial taking.destruction,or loss in value is equal to or greater than the amount
<br /> of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value,
<br /> Nebraska Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3028 1/01
<br /> MFRS Modified
<br /> The Compliance Source,Inc. Page 8 of 14 Modified by Compliance Source 14301NE 08/00 Rev.04/08
<br /> www.eompliancesource.com :5.2000,The Compliance Source,Inc
<br /> 1 11111 III III 11111 VIII!11111 11111 11111 III 11111111111111III IIII II 1 III 11111 HMI 11111 III II 1 III 1111 II 1 III 11111 111 1111
<br /> * + O 2 8 9 7 2 1 3 8 3 + O O A D + 8 + 1 4 *
<br />
|