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' ` �� � �,� � '� �� ��14�1475 <br /> cantinue ta pa� to Lend�� t�e amoui�� �f the separately �.esigna��d payments th�� �ere du� �vhen th� <br /> insurance c��erag� ��as��l to b� i�� �ff�ct, Lender wi�I accept, ��se and retain these paym���ts as a <br /> i�on���e�unda�Ie lass i�eser�e �n �i�u of M or�gag� 7nsuran��, Such I�ss r�s�r�e shall be �on-refunda�l�, <br /> r�ot�r��hstandi��g the fac� tha� the Loan is ul�zna ately pai� iii ful�, and Lender s�al� nat �e r�quired to pa� <br /> Borrower an� interes� �r �arnings on such loss �eser�c. L�nd�r �an na longer re�uir� loss reser�v� pa�ments <br /> �f M or�gage Insu��nce co�erag� �in �he am oui1� and �o�� th� period �hat Lenc�er �equir�s} pro�ided �y an <br /> insu��r selected by L�nder again ��com�s a�vai�a�l�, is a��ain�d, and L�nr�er �equir�s separa�el� c�esignated <br /> paym�nts ta�ra��� �he pr�miums fo�� M�rtg�g� �nsuran��, I�L�nder r�quir��. �I oz��ga�� Insurance as a <br /> candi�ion ��rri aking the ��an and ��i�r�v�er w as requir�d �o m ak� sepatsa��ly d�signated pa�tnen�s to�v ard the <br /> pre�a ium s for M ortg�ge ��nsurance, Borrovv er shall pay the prem iutn s r�quired ta m aint�in M a�tgag� <br /> Insurance �n ��fect, �r ta pt�ovi�e a non�r�funda�Ie Ioss reser�re, until L�n�er's i�equire�aent fo� M ortgag� <br /> Insurance �nds in a�cordanc� �v zth any �v ri�t�n agre�m�n� b�t�v e�n B o���ow�r and Lender providing far such <br /> �erm�nation a� until �et�tnina�ion is requir�d b� Applica�l� Lav�, No�hing in �his Se��i�t� �D affec�s <br /> Bar�o��r's obliga�i�n ta pay interest at ��c rate pt�ovicled in ��e Note, <br /> M ortgage Insurance i��im buz�ses Lenr�er �o� an� �nt��y that purchases �h� N o��} �o� cei�tain lass�s it m ay incur <br /> if Bflrrower does r��t repay the Loata as agr�ed, B�rrow�r is n�� a par�� t� tl�e M ortgag� insurar�c�. <br /> N�ortgag� Iiasurers evalua�e their to�a� risk on a�I such �nsur�n�e in force fro�n time tfl �ime, ai�d may �nter <br /> inta agreemen�s �ith� othe�� partie� that sha��e or i��odif� tlxei� risk, a� re�uc� losses, T��ese agt�e��aents are on <br /> �ertns and con��tions that are sa�isfac�ary to �he mor��age insu��r an� tih� �th�r party �or par�ies} �o th�se <br /> agreements, Thes� agreem�n�s may r�quir� th� m��tgage i�sur.er ta make pa��ne�ats using any sourc� of f�Xn�ls <br /> that th� mortgag� insurex� may ��ave avail�ble �u�hich may inc���d� fl�nds obtained from M or�gage 7nsuran�e <br /> pr�n�iums}, <br /> A s a re�ult a f th�se ag��em�t�ts, L�en�l�r, ai�y purchaser o f the N o te, anoth�:r ins��r�r, ar�y r��nsure�, �ny o���t� <br /> �nti��, or an� a�filiate of�n� of�he foregoing, may ��e�eive ��zz�ectly or ind�re�tly} amoun�s that d�rive �rom <br /> �oz� intght b� charac��rize� as� a �artion of Borr�v�er's paym�nts f�r M artgage insuranc�, �n �x�hange �ot� <br /> sharfng or modifying the ma��tig�.g� ins��re�r's ��isk, a�reducing loss�s. I�such ag��ee�nent provid�s tha� an <br /> a�f��ia�e of Len��r takes a share of the i�asurer's risk �t� e�cha��ge �a� a sha��e �f tlae p�etnfuims pa�d to t�� <br /> insi�rer, the ar�•ang�m�nt is often t�rmed "captive r�insurance." Further; <br /> �a� Aiay snch agx°eenaents will ��ot a�fec� the an�ourt�s t���� Lo��t°o��ver has a�r�e� �o �ay �o�° N.�or�gage <br /> x�xsu����xc�, ar ariy ot��ex term s u�t��c Laa2r, �uch agreem eY�ts will not iz�cr�ase �h� am o����t <br /> Bar�roWe�� will owe �4�� Nrortgage Insu��a��c�, a��d they ��ill r�at �nt��le Bo��rowez� �o any t�efunti, <br /> {�� A�zy such �gr�em�iits will x�at a��ect �h� x��gl�ts Borrawe�� has � if any M ��ith r��spe�� to the <br /> M ox�tgage ���su��an�e ux�de�� the Z-�om eown�r�� P��otec�ian �ct of �998 ox �x�y otihex� �a��v, These ��igh�s <br /> na ay i�acla�de �he r�ight to receiv� ce��ta�n clisclosures, �o ��eque�t a��d 4btaiza catrcellatxon of the <br /> NI ortig�ge Xz�sux�ance, �o hav� the I1�o��t��ge Zz�suz�a��ce t�z�na ina��� �lttom atica�X�, ar�d�or to ��e�eiv� <br /> a x�efiXnd o��ai�y 1V�ortgage Ins�xra��ce pz�en�iam� th�t ��vere un��t���e� a� the tim e af such <br /> c�t,cel�a�io�� or te��m i��a�xo�a, <br /> 1 1. Ass�gnm�nt �f I�isce�laneous Proceeds; Forf�iture. .�11 M isce�laneous Pro�eeds ai�e here�y assigned ta <br /> and shall be paid to L�n��r, <br /> Zf�he Prop�r�y is damaged, such M isce�l�n�ous �z�oce�cis shall be appli�� �a ���st�r�tion or �epair of the <br /> P�o����tyi 1�t�1� 1�estoratian or r�pair is ec�namicall� �easi�le�an�l L�nd�r's s�cu�ity is not �ess�n�.�. Du��ing <br /> such �epair at��i restorati�n pe��io�., Lent�e�� shall ha�e �h� r�ght to 1�old suc�� �I isc�llan�o��s Praceeds ��ntil <br /> L�ndet� has ha�. art op��rtunity t� ins��ct such Pt�op�rt� �� ensur� the war� has b��n c�tnplet�cl t� Len�ei�'s <br /> 904352D677�4 <br /> i�EBRASKA-Single�amily-�annis MaetFreddie Nlac UNI�aRM INSTRUMENT Form 3a28 1141 <br /> VMP Q VMPB(N�f�13�2y <br /> W olters Kluw e�Financial 5ervioes Page 9 af�7 <br />