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2U � � � 6 � 48
<br /> LOAN#:14086776
<br /> alternate mortgage insurer selected by Lender.If substantially equivalent Mortgage Insurance coverage is
<br /> not available,Borrower shali continue to pay to Lender the amount of the separately designated payments
<br /> that were due when the insurance coverage ceased to be in effect.Lender will accept,use and retain
<br /> these payments as a non-refundable loss reserve in lieu of Mortgage Insurance.Such loss reserve shall
<br /> be non-refundable,notwithstanding the fact that the Loan is ultimately paid in full,and Lender shall not
<br /> be required to pay Borrower any interest or earnings on such loss reserve.Lender can no longer require
<br /> loss reserve payments if Mortgage Insurance coverage(in the amount and for the period that Lender
<br /> requires)provided by an insurer selected by Lender again becomes available,is obtained,and Lender
<br /> requires separately designated payments toward the premiums for Mortgage Insurance.If Lender required
<br /> Mortgage Insurance as a condition of making the Laan and Borrower was required to make separately
<br /> designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
<br /> required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until
<br /> Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between
<br /> Borrower and Lender providing for such termination or until termination is required by Applicable Law.
<br /> Nothing in this Section 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)forcertain losses it may
<br /> incur if Borrower does not repay the Loan as agreed.Borrower is not a party to the Mortgage Insurance.
<br /> Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and
<br /> may enter into agreements with other parties that share or modify their risk,or reduce losses.These
<br /> agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other
<br /> party(or parties)to these agreements.These agreements may require the mortgage insurer to make
<br /> payments using any source of funds that the mortgage insurer may have available(which may include
<br /> funds obtained from Mortgage Insurance premiums).
<br /> As a result of these agreements,Lender,any purchaser of the note,another insurer,any reinsurer,
<br /> any other entity, or affiliate of any of the foregoing, may receive (directly or indirecUy)amounts that
<br /> derive from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance,
<br /> in exchange for sharing or modifying the mortgage insurer's risk,or reducing losses.If such agreement
<br /> provided that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br /> premiums paid to the insurer,the arrangement is often termed"captive reinsurance."Further:
<br /> (ay Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br /> Mortgage Insurance,or any other terms of the Loan.Such agreements will not increase the amount
<br /> Borrower will owe for Mortgage Insurance,and they will not entitla Borrower to any refund.
<br /> (b) Any such agreements wiil not affect the rights Borrower has -if any-with respect to
<br /> the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law.These
<br /> rights may include the right to recefve certain disclosures,to request and obtatn cancellation
<br /> of the Mortgage Insurance,to have the Mortgage Insurance terminated automatically,andlor to
<br /> receive a refund of any Mortgage Insurance premiums that were unearned at the time of such
<br /> canceilation or termination.
<br /> 11. Aasignment of Miscellaneous Proceeds;Forteiture.Aii Miscellaneous Proceeds are hereby
<br /> assigned to and shaii be paid to Lender.
<br /> If the Property is damaged,such Miscellaneous Proceeds shall be applied to restoration or repair of
<br /> the Property,if the restoration or repair is economically feasible and Lender's security is not lessened.
<br /> During such repair and restoration period, Lender shall have the right to hold such Miscellaneous
<br /> Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
<br /> completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly.Lender
<br /> may pay for the repairs and restoration in a single disbursement or in a series of progress payments
<br /> as the work is completed.Uniess an agreement is made in writing or Applicable Law requires interest
<br /> to be paid on such Miscellaneous Proceeds,Lender shall not be required to pay Borrower any interest
<br /> or earnings on such Miscellaneous Proceeds.if the restoration or repair is not economically feasibie or
<br /> Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured
<br /> by this Security instrument,whether or not then due,with the excess, if any, paid to Borrower. Such
<br /> Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br /> In the event of a total taking,destruction,or loss in value of the Property,the Misceilaneous Proceeds
<br /> shall be applied to the sums secured by this Security Instrument,whether or not then due, with the
<br /> excess,if any,paid to Borrower.
<br /> In the event of a partial taking,destruction,or loss in value of the Property in which the fair market
<br /> value of the Property immediately before the partia!taking,destruction,or loss in value is equal to or
<br /> greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br /> taking,destruction,or loss in value,unless Borrower and Lender othenn+ise agree in writing,the sums
<br /> secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br /> multiplied by the following fraction: (a)the total amount of the sums secured immediately before the
<br /> partial taking,destruction,or loss in value divided by(b)the fair market value of the Property immediately
<br /> before the partial taking,destruction,or loss in value.Any balance shall be paid to Borrower.
<br /> In the event of a partial taking,destruction,or loss in value of the Property in which the fair market �
<br /> value of the Property immediately before the partial taking,destruction,or loss in value is�les�--_ th��� j,,, �L
<br /> Initials: w w��
<br /> NEBRASKA—Single Family—Fannle Mse/F►eddle Mac UNIFORM INSTRUMENT Form 3028 1101
<br /> Ellie Mae,Inc. Page 7 of 11 NEEDEED 1212
<br /> NEEDEED
<br /> 10/0212014 10:19 AM PST
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