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201308870 <br /> maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's <br /> requirement for Mortgage Insurance ends in accordance with an written agreement between Borrower and <br /> Lender providing for such termination or until termination is required by Applicable Law. Nothing in this <br /> Section 9 affects Borrower's obligation to pay interes at the rate provided in the Debt Instrument. <br /> Mortgage Insurance reimburses Lender (or any entity that purchases the Deb Imgmmou0 for certain <br /> losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage <br /> Insurance. <br /> Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may <br /> enter into agreements with other parties that share or modify their risk or reduce losses. These agreements <br /> are on terms and conditions that are satisfactory to the mortgage insurer and the other par (or parties) to <br /> these agreements. These agreements may require tile mortgage insurer to make payments using ally source <br /> of funds that the mortgage insurer mu! have available (which may include funds obtained from Mortgage <br /> Insurance premiums). <br /> As a result of these agu:emucois, Londcr, any purchaser of the Debt Instrument, another insurer, any <br /> ncioeoror' any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) <br /> amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage <br /> insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such <br /> agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of <br /> the premiums paid to the insurer,the arrangement is often termed"captive reinsurance."Further: <br /> (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for <br /> Mortgage Kouurunoc, or any other terms of the Loan. Such agreements will not increase the amount <br /> Borrower will owe 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 |uw' These rights <br /> may include the right to receive certain disclosures, to request and obtain cancellation of the <br /> Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a <br /> refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or <br /> termination. <br /> 10. Assignment of Miscellaneous Proceeds; Forfeitmrc, All Miscellaneous Proceeds are hereby <br /> assigned to and shall be paid to Lender, subject to the rights of any lienholder with rights to Miscellaneous <br /> Proceeds that are superior to Lender's rights. <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 <br /> such repair and /zaioruiiouoc6od Lender shall have the right to hold such Miscellaneous Proceeds until <br /> Lender has had an opportuuity to inspect such Property to ensure the work has been completed to Lender's <br /> satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs <br /> and restoration in a single disbursement or in a series of progress payments as the work is completed. <br /> Unless an agreement is made in writing or Applicable Law requires interest to be paid on such <br /> Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such <br /> Miscellaneous Proceeds. Subject toiherig6(ao[uoy |ieohn\dornkhrighinioMisoeUuncoxsProcoudy /hut <br /> are superior to Lender's rights, if the restoration or repair is not economically feasible or Lender's security <br /> would be lessened_ the Miscellaneous Proceeds shall be applied to the sums secured by this Security <br /> |oobomunL whether or not then due, with the cxocoa' if any, paid to Borrower. Such Miscellaneous <br /> Proceeds shall be app ied in the order provided for in Section 2. <br /> Subject to the rights of any lienholder with rights to Miscellaneous Proceeds that are superior to <br /> Lender's rights, in the event of a taking, destruction, or loss in value of the Property, the Miscellaneous <br /> Uonoverbuit�b -y` m°�� <br /> ©2013 GuardianDocs (page 7*'/3pages) <br /> NE Closed-End Junior Lien Security Instrument(12/23/2010) <br /> HO/4829-1645-6456 <br />