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201309419
<br /> Lender providing for such termination.or-until termination is required by Applicable Law. Nothing in this Section
<br /> 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 incur
<br /> if Borrower does not repay the Loan as agreed. Borrower is not a party to the Moitgage Insurance.
<br /> Mortgage insurers evaluate their total risk on all suth insurance in-force from time to time, and may enter into
<br /> agee:me-nts with other parties that share or modify their risk, or reduce losses.. These azreements are on terms and
<br /> conditions that are satisfactory to the mortgage insurer and the other party(or partie. s)to these agreements. These
<br /> agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br /> may have available(which may include funds obtained from Mortgage Insurance premiums).
<br /> As a result&these ageements,Lender, any purchaser of the Note, another insurer, any reinsure; any other
<br /> entity, or any affiliate of any of the foregoilag,may receive(directly or indirectly)amounts that derive from(or might
<br /> be characterized as)aportion ofBOrro-wer's payments for Mortgage Insurance,in exchange for sharing or modifying
<br /> the mortgage insurer s risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share
<br /> of the Ws-are s risk in exchange for a share of the premiums paid to the insurer, the arrangernArit is often termed
<br /> "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 tb.e Loan. Such agreements will not increase the amount Borrower will owe
<br /> for Mortgage Insurance, and they will not entitle Borrower to any refand.
<br /> (h) Any such agreements will not affect the rights Borrower has-if any-with respect to the Mortgage
<br /> Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right
<br /> to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the
<br /> Mortga_ge Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums
<br /> that were unearned at the time of such cancellation or termination.
<br /> 11. Assignment of 1Vliscella.neous Proceeds;Forfeiture. All Miscellaneous Proceeds are hereby assigned to
<br /> and shall be paid to Lender.
<br /> lithe Property is damaged,such Miscella.neous Proceeds shall be applied to restoration or repair of the Property,
<br /> if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and
<br /> restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
<br /> opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br /> such inspection shall be undettakenproroptly. Lender may pay for the repairs and restoration in a single disbursement
<br /> or in a series of progress parvilts as the work is completed. Unless an agreement is made in-writing or Applicable
<br /> Law requires interest to be paid on such Miscellaneous Proceeds,Lender shall not be required to pay Borrower any
<br /> interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or
<br /> Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br /> Instrument, whether or not then dne, with the excess,if any paid to Borrower. Such Miscellaneous Proceeds shall
<br /> be applied in the order provided for in Section 2.
<br /> In the event of a total taking, destniction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br /> applied to the sums secured by this Security TiistnirnFtrit 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 iTomP;diately before the partial taking, destruction, or loss in value is equal to or greater than the amount
<br /> of ihe sums secured by this Security instument immediately before the partial taking, destruction, or loss in.vain;
<br /> -unless Borrower and Lender otherwise agree in writing, the sums secured by this Security instniment shall be reduced
<br /> by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of the SUMS
<br /> secured irrr-m ediately before the partial tAlrin 0., destruction, or loss in value divided by(4)the fair market value of the
<br /> Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br /> TB the event of a partial taking, destruedon or loss in value of the Property in which the fair market value of
<br /> the Property-im-rnediately before the partial taking, destruction, or loss in value is Jess than the amount of the sums
<br /> secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br /> NRA.S.KA—Sirgle Family—Fannie Mae/Fredthe Mao UNIFORM INSTRUMENT Doi:Mastic ertE.,:v4zo
<br /> Form 3028 1101 Page 8 of 14 WW W.dormagic.COM
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