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, ��131�1�� , . �nsurance re�iously in effect, at a cast substantially equi�ralent to the cost tv Borrov�rer of the Mortgage�nsurance P re��ousl in effect, from an alternate mortgage insurer selected b�Lender. If subsfantiall�r equivalen�Mortgage P � Insurance ca�rera e is not a�ailable,Borro�er sha11 continue ta pay�a Lender�he amvunt❑f the separate�y designated g a ments that v�ere due vvhen the insurance cvverage ceased to be in�ffect. Lend�r vvill accept,use and retain these PY a ments as a nan-refundabie loss reser��in lieu of Mortgage Insurance. 5uch loss reser�v�shal�be non-refundabie, PY nvtvvithstanding the fact that the Loan is ult�mately paid rn full,and Lender sha�1 not be required to pay Borra�er any interest nr earnings on such�ass reser�e. Lender can nn Ionger r�quire loss reser�e payments xf Mortgage InsurancQ covera e (�n the amaunt and for the periad that L�nd�r requires} provided b� an insurer se�ected by Lender again � becomes a�ailab�e, is vbtained, and Lender requires separa�el� designated payments tovvard the premiums for M�rtgage Insurance. rf Lender required Martgage Znsurance as a candifion❑f making the Laan and Bvrro�er vvas re uired to make separately designated paymen�s to�ard the premiums for Mortgage Insurance,Snrrovver shall pay q the remiums required tv main�ain Mortgage Insurance i�n effect, or to pro�ide a non-refundabie�oss reserve, until P Lender's requirement for Mortgage Insurance ends in accordance�ith an��vrit�en agreement bet�een Bvrrvvver and Lender ro�idin far such terminatian or un�il termination is required by App�icable Lav�. Nothing in this 5ection P � 14 affects Borro�er's ob�iga�ion tv pay in�erest a�the rate pro�ided in the Note. Mortgage Insurance reimburs�s Lender (or any entity that purchase�fhe Note} far cer�ain losses i�may incur if Borrovver d�es nnt repa�the Laan as agreed. Borrov�er�s not a party to the Mor�gage Insurance. MortgagQ insurers e�aluate the�r total risk on a1I such insuranc�in force from tune to t�me, and may en�er xnta a reements vvith�ther parties that share nr modxfy their risk, or r�duce Xosses. These agreements are an terms and g conditians that are satisfactary t❑ the martgage insurer and the ather party tvr parties} to these agre�ments. These agreements may r�quire the martgage insurer fv make payments using any source of funds that the mortgage insurer may ha�ve a�aiiabie �vvhich may include funds vbtained from Martgage�nsuranc�premiums}. As a resu�t of th�se agr�ements, Lender, any purchaser of the Note, anather insurer, any reinsur�r, any other entit�, ❑r any aff�l�ate of any af the f�rego�ng,may receive�directly or indir�ctl�}amvunts that derx�e from�or might be characterized as}a por�ion of Borravver's pa�men�s for Martgage Insurance,in exchange for sharing or modifying the mortgage insur�r's risk, ❑r reducing losses. �f such agreement pro�ides�hat an affiixa�e❑f Lender takes a share of the insurer's risk in exchange for a share of the pr�miums paid ta the Ynsurer, �he arrangement is often termed "cap�i�e reinsurance." Further: �a} Any su�h agreemen�s w�il� no� affect the amoun�s �hat Sorrawer has agreed to pay for Mor#gage Insurance,or any Qther terms of the Loan. Such agreemenfs will not�n�rease�he amount Borrower wi�l owe far Mortgage Insuran�e, and they will nat en�itle Borrawer to any refund. �b} Any suGh agreernents will nat affect�he righ�s Barrower has-if any w with respect to the Mart�age Insurance under the Homeowners Protection Ac�of 1998 or any�ther Iaw. These rights may xnclud�the r�ght to recei�e �er#ain di�sclasures, to reques� and o�tain cancella�ion af the Mortgage Insurance, tv have the Mortgage Insuran�e��rminated autama�icall�,andlor ta recei�e a refund af an�Mortgage Insurance premiums tha��ere unearned at the time of such can�ellation or termination. 11. Assignment of MiscelXaneous Proceeds;Forfei�ture. A11 Misc�llaneaus Proceeds are hereby assigned to and shall be paid�a Lender. If the Property is dama�ed,such Miscelianeous Prviceeds sha�l be applied to restaration or repair of th�Property, if�he restoration or repair is econvmically feasiblQ and Lender's security is not lessened. During such r�pair and res�orat�vn period, Lender shali hav� the right ta hoid such M�sce�laneous Pruceeds until Lender has had an vpportunit�r to inspect such Property ta ensure the vvork has been campleted�o Lender's satisfaction, provided�hat . such inspectivn sha11 be undertaken pramptl�. Lender may pa�fvr the repairs and restvratian in a s�ng�e disbursem�nt or.in a series af progress paymQnts as the vvork is completed. Unless an agreement is made in vvrit�ng or Applicab�e Law requires interes�to be paid on such Misce�lanevus Proceeds, Lender shal�not be required ta pa�Bvrrov�er an� interest or earnings nn such Miscellaneaus Proceeds. If thQ r�staration ❑r repair is not ecanomically feasib�� or Lender's s�curii�v5rauld be lessened,�h�Miscellaneous Proceeds shall be applied�o the sums secured by this 5ecur�ty Instrument,v�rhether ar npt then due,vvith�he excess,�f an�,paid to Barrav�rer. Such Misceilaneous Proceeds sha11 be applied�n the arder provided far in 5ection Z. NEBRASKA--Single Family--Fannie MaelFreddie Mac UNIF�RM lNSTRUMENT-MERS Dor.�lllagic o Form 3��8'110� Page 8 Qf 15 www.docrr�ragic.cafrr Nc3�28.mzd.xml