201402706 - Laserfiche WebLink

Browse

��14��7�� �ny am�unts disb�rs�t�b�I.�n��r a�der tlais S��c��on��ha�l b�c�me a�ditiona�debt of B�rrower s�cured b� this�e��urity Instrum�nt.Th�se�.mt�unts shall b�ar int�r�st at the I�ote rate fr�m the date of disbursement aad sha�l be pa�able,�vi��s�.ch inter�st,u�on n�ti�c�from I.�n��r to Borro�rer re�uesting pa�ment. If this Securi.ty Ins�m��.t i�t�n��as�hvld,�rr��r�ha�l+��mp1y�rith all the pro�ision��of th�leas�, If BQno�er acquir�s f�e�it1��t.��r�perty,the��a�h+��d ant��e fee t�tle shal�n�t merge un�ess Lend�r agr�es to the m�r�er in writi�g. 1�. M o rtc�age I n s u ran�,If L��r r�q�ued�liiortgage Insura�nc�as a�ox�diti�n��ma,king th�Lv�n, �3�rrovver sha�l pay th�pr�mium�r�ir�t�x�ain�ain th��[�rtgag�.�n�urance i�eff��t.If,for any r�ason,th� M�r�gage Insuran��g�r�i��d by�nder��a��#�b�availabl�from th�m�rtgag�insurer th�.� pr�viously pro�i��d��h��s�r�ce�x�d�orrv�ver�►v�s r�u�.re�i t�xr�ak�sep�ra#�ly��signat�d p��ments to�ard th�pr�mi.�um�f�ar��tgag�Ins�uran��,��rr��r�ha11 pay th�premi�ms re�uired tv�btav�.c��erag� substanti�.11y eq�iva�ent�th��rtgage ins�ran��r�vio�sl�r in eff�c�,at a��ast substantial�y�q�ival�nt to th�+cost to BorrQw�r�vf tl��e��o�t�age In�uranc��r�vi�v�us�y in effect,fr�m an alt�rnate mortgage v�st�.r�r se�ected by Lend�r,If sub�tant��ll�r�ui�alent��rtg�g�Ins�rance co�era.g�is not availab�e,Borro�rer shall cont�nue to pay t�L�en�d�r the ar��un#�f the�paratel�desig�te�pa�ment�that�ere du�when th� vlsurance coverage c�d t�b��n effe�#. L�nd�er�ill a�c�pt,use and�etain th��payments as a n�n-r�fundabl�l�ss r�s�r��in lie��f�i�rtga�e Ins�ran��. Such la�s r��erv�shall be non-refundabie, notu�ithstandrng th�f�.ct t�,at th�I.Qan i�ultimate��r��id in full,and L.�nder shall not be ret�uir�d to pay Borr�wer any int�rest�r�rni�gs��su�h loss res�r�e. Lend�r ca�n�l�nger r�quire loss reser��pa�mnents if Mortgage Insuran�e��a.�e(i�n t�e am�unt an+d for th�period that Lender r�t��uiresj pr�vided b�a.n insurer se�ected b�Lend�r again b�comes a�ai�abt�,is obta�.n�d,and L�nd�r r�quires�eparately�esignated paym�nts ta�vard the prem��ms f�r�I�rtgag�In.�urance. If L�nd�r�e�ui��Mortgage Insuranc�as a c�ndition of mal��ng the L�an and�onvwer was re�q�uired to m�al��separa.t�l�designated pa�m�n�t��vard the premiums far Mor�gag�Insurance,B�no�v�r�ha.��pay th�prem�ums r��uir+ed to maintain 1VIartgage Insurance xn�ffect,Qr t�pr��id�a n�n-r�fundab�e loss reser�e,�nti�Lend�r's r��quu�m�nt for Mortgag� Insurance ends in ac�c�rdance�ith�.n�r�vritten agreement bet�re�n�3vrrower and L�nder pro�iding f�r such t�rmination or until termi�atic�n is re+quir�d by Applicabi�La�.��th.ing in this Secti�n 1�affects Borro�ver's obligatian to pa�i.nter��t at the rate pr��rided in th�I�c�te. Mortgage Inst�rance r�imburs�s Lend�r�t�r any entit�that purcha�es the Note�fQr certai.n losses it may incur if Borrower d�es nQt repa�the Loan as agreed.�onower i�n�t�party t�th�ll�iortgage Insurance. Mortgage�nsur�r�e�al�ate their t.�ta�risk fln all su�h�nsuranc�in f�rc�fr�m time ta time,and may enter into agreem�nts�i�h other parties that share 4r m�di�r their risk,�r red�ce��ss�s.Th�se a�reement��re�n terms and c�nd�tiQ�n.s t�t a��a�tar�tv the mort�;age i�n�u��and the other party[or parti�s)ta the�e agreements. Thes�agree�e�t�r�nay re��ir�the m�rtgage insurer to make paymen�s usi�g any source of funds that th�martgage insur�e�r m,a�l�a�e a�ailable(��ti.ch may i.n�lude f�nds obtaine�l from Mortgage Insurance premiums), As a result of�hese agre�rn�nt�,L��der,an�purch�.ser of the i�ote,an4t�er v�.surer,any reinsurer,an}� other entity,or any aff'�lia��f�ny vf th�foreg�ing,ma�r r��cei�e(direct�y or in�iir�ctly)amounts that derive from(�r might b��hara.�eri��d a�)a p�rtian�f Borro��payrnent�f�r M�rtgag�Insuranc�,in exchange for sharing or n��difyin�tt�ae m4rtgage insurer's risk,�r r��i�ing t�ss�s.If such agreement pro�ides that an affiliat�of Lend�r t�,kes a shar�of the insur�r'�ri�in��c��.nge fflr a share�f the premiums paid to th�ins�r�r,the a�ra.ng��ent is o#�en termed�'captiv�reins�ra.nce."Further: q033�55�18� ��33 350 Q�17 NEBRASKA-Single Fami�y-Fanni�MaelFr�idie Ma�l3AI��FDRM INSTRU�AENT'�11T1�MER� Farm 3�28 9141 ��P� VMPBA(ME}��3D2).� 1�lo�ters Kfwver Financial Serviaes Pag$�af 1?