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��14�4153 <br /> continue�a pay ta Lender the amount of the separate�� designated paymen�s�hat were du�when the <br /> insurance co�erage ceas�d�o b��n effec�. Lender w��I accep�, use and re�ain th�se paymen�s as a <br /> non-reiundabie 1�ss reser�e in�ieu of Mortgage�nsurance. 5uch lass reser�e shall be n�n-refunda��e, <br /> notvv��hstand�ng the fact that the Loan�s ul�ima�el�r paid in full, and Lender sha�i not�e r�quired�o pay <br /> Borrower any �n��rest ar earnings on such loss reser��. Lender can na �onger require�oss reserve payments <br /> if Mor�gage�nsurance co�erage�in�he amoun�and f�r the period that Lender re�u�res}pro�v�ded b}�an <br /> insurer se�ected by L.ender again b�comes a�a��able, �s ob�ained, and L.�nder requires separate��designat�d <br /> pa�men�s toward�h�pr�miums f�r Mor�gage�nsurance. If Lender required Mortgage Insurance as a <br /> cand�t��n of ma��ng the Loan and Borrower was r�quired to make separatei�r des��na�ed paymen�s�oward the <br /> prem.�ums for Mor�gage Insuranc�, Borrower shall pa��he premiums required�o�nainta�n Mor�gage <br /> �nsurance in effect, ar�o pravide a nonWrefundabie loss reser�e, untii Lender's requirement for Mortgage <br /> �nsuranee ends in accordance wi�h an� writ�en agreement betu�een Borrow�r and Lender pro�iding for such <br /> term�nation or untii �erm�nation�s required�y App�icab��Law. Nothing in th�s Sec�ion 1� affects <br /> Borrower's ob�iga�i�n to pay interest at the rate pr�vided �n the No�e. <br /> M�r�gage Insurance reimburses Lender�or any ent�t�r that purchases the Note} for certain lasses i�may �ncur <br /> �f Borrower daes nat repa��he L.oan as agreed. Borrawer�s no�a par���� the Mor�gage�nsurance. <br /> Mor�gage�nsurers e�raluate their to�ai risk on al� such insuran�e �n force from time to�ime, and may enter <br /> �n�Q agreemen�s with o�her pa�ies that share or mod�fy their risk, or reduce l�sses. These agreemen�s are an <br /> terms and condit�ons�ha�are sat�sfac�ory ta the martgage�nsurer and�he other part� �or parties� to these <br /> agreements. These agreements ma� r�quire�he mortgage insurer�a mak�pa�m�nts using an� saurce nf funds <br /> tha��he mortgage insurer may have ava�lable�wh�ch ma�includ�funds ab�ained from Mortgage�nsurance <br /> premiums�. <br /> As a result of these agreements, L�nder, any purchaser�f�he Nti��, anather insurer, any re�nsurer, any other <br /> �ntity, o�r any aff�liate af any of the foregoing, ma� r�c�i�e�direct�y or�ndirect�y3 amounts tha�derive from <br /> �or might be charac��rized as} a por�ion af Borrower's payments f�r Mortgage�nsuranc�, in exchange far <br /> s�aaring or modif�ing�he rr�or�gage �nsur�r's risk, or r�duc�ng�osses. If such agre�men�provid�s�hat ar� <br /> af�lia�e of Lender takes a share of�he insurer's risk in exchange for a share of�he prem�ums paid�o the <br /> insurer, �he arrangenlent is aften termed "captzve r�insuran�e." Further: <br /> �a} Any such agreem�nts vv��l not affect�he amaun�s tha�Borrower has agreed to pay for Mor�gage <br /> In�urance, or any o�her terxns of�h�Loan. Such agreem.ents w�Ii not increase�he amoun� <br /> Borrower wi��o��e for Mor�gage Insurance, and they will not ent�t����rrower�o any refund. <br /> �b� Any su�h agreernents wili not affect�he righ#s Borrower has-�f any�►w�th respeCt to the <br /> Mar�gage Insurance under�he I3on�eowners Protec�ion Act af 19�� or any o�her la►w. These rights <br /> may include the r�ght to receive certa�n d�sc�asur�s, to reques�and o��ain cance�lat�on of the <br /> Mortgage Insurance, to ha�e the Mortgage Insurance termina�ed au�ama#ically, andlvr ta recei�e <br /> a refund of any Mortgage InsuranCe premiums that�vvere unearned at�he�ime of�uch <br /> cancel�at�on or termina�ivn. <br /> �'1. Ass�gnment of Miscellaneous Proceeds; Forf�it��e. A�I N�iscellaneaus Proceeds are he�eby assigned�a <br /> a�d sha�1 be paid�o Lender. <br /> �f the Proper�y is damaged, such N�is�ellaneous Proceeds shall be app�ied to restarati�n or repair nf�he <br /> Pr�per�y, if the res��ration or repair is econamically f�asible and L�nder's security i�no�lessened. During <br /> such repair and restorat�on peri�d, I.ender shall ha�ve the righ��o ho�d such N�iscellaneous Proceeds unt�i <br /> Lender has had an opportunzty to inspec�such Prapert� �a ensure the�ork has been comp�e��d to Lender's <br /> N�BRASKA-Single Family-Fannie Maet�reddie Mac UNIFQRM fNSTRUMENT Farm 3D28 11�1 <br /> VMP� VMPfi{NEf�i 302) <br /> Wolters Kfuwer Financiaf 5er�ices Page 9 vf i 7 <br />