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- ��14��573 <br /> continue��pay to Lender the amount of the separat��y des�gna��d payments tha�v�rere due when�he <br /> �nsuran�e co�era�e ceased to he�n eff��t. Len�er w��� accept, use and retain these paymen�s as a <br /> nonMrefunda�I��oss r�se�-ve in l�eu of Mortgage Insurance. Such�oss reserve shal�be non-ref'undable, <br /> notvv�ths�anding�he fac��hat the L,oan�s u�timate�y paid in full, and L�nder sha�� not�e required to pay <br /> Borrnwer an� in�eres�or earnings�n such�oss rese�-�re. Lender can n� �ang�r require loss reser�e pa�ments <br /> if Mor�gage�nsurance caverage�in�he amaunt and for�he per�od that Lender r�quires}provided by an <br /> insurer selected by Lender aga�n b��omes a�ra�lable, is obta�ned, and Lender requ�res separately des�gnated <br /> pa�ments tov�ard the premiums for Mor�gage Insurance. �f Lender re�uired Mar��age�nsurance as a <br /> condi�xon of m.aking�he Loan and Borrower was r�qu�red�o make separate�y des�gnated paym�nts�oward the <br /> prem�.ums for Mortgage �nsurance, Borrov�rer shal�pa�the premiums required to maintain Mortgage <br /> �nsurance in effect, flr�o provide a nonWrefundable loss reserve, unt�1 Lender's requirement for N�ortgage <br /> Insurance en�s in acc�rdanc��rith any wr�t�en agreement be�we�n Borrower and Lender pro�riding for su�h <br /> termina��an ar until ��rmination is requ�red by Appli�able Law. No�hing in�his 5e��ian 10 af�ects <br /> Borr�wer's ob�igat�on�o pa� �nteres�a� �h�ra�e provided in�he Note. <br /> Mor�gage�nsurance reimburses Lender�or an��nt�t�r that purchases the Note} far certain Ioss�s it may incur <br /> if Barrower does nat repay the Loan as agreed. Borrovver�s not a par�y�o�he Mor�gage�n�urance. <br /> Mortgage�nsurers��alua�e the�r to�al risk�n ali such insurance�n for�e frorn�ime to�ime, and may enter <br /> �nto agreements with other part�es tha�share or mod�f�r��e�r risk, �r reduce�osses. These agre�ments are on <br /> terms and cond��ians that are sat�sfactor�ta the mor�g�ge insurer and��ie o�her party �or part�es}�o these <br /> agreeme�.�s. These agreemen�s may requ�re the mortgage insurer to mak�pa�m�nts using any s�urce of funds <br /> that�he mor�gage�nsurer may�.ave a�ailable �which ma� inciude funds ob�ained from Mor��age�nsuran�e <br /> premiums}. <br /> As a resuit of�hese agreements, Lender, any purchaser of the No�e, ano�her insurer, any reinsurer, any other <br /> en��ty, or any affi��ate of any flf�he forego�ng, may receive(directl�ar indirect�y} amounts tha�deri��from <br /> �or might be characterized as} a por�ion af Borrov�er's paymen�s for M�r�gage�nsurance, �n exchange for <br /> shar�ng ar nzodify�ng�he mor�gag�insurer's ris�, or reducing�osses. �f such agreement provides�ha�an <br /> af��ia�e of Lender takes a share of�he�nsurer's risk in�xchange for a share af the premiums pa�d�o�he <br /> �nsurer, the arrangemen�is often termed "�apti�e reinsuranc�." Fur�her: <br /> �a} Any such agreement�will nnt aff�ct the amoun�s that Borrower has agreed to pay for N�or�gage <br /> Insurance, or any other�erms of the Loan. Such agreements wiii not increase the amaunt <br /> Borrov�er wi�I owe for Niortgage Insurancey and�hey wi�I not entit�e Borror�ver to any refund. <br /> �h 3 Any such agreements wi�l no�affe��the r�gh�� Borrower has-�f any-�with respect t��he <br /> Mor�gage Insurance und�r the Homeowners Pro�ection Act of 1998�r any other�avv. The.�e r�gh#s <br /> may inc�ude the r�ght to rece�ve certa�n disc�osures, �a request and ab�a�n cancellat�on of�he <br /> IVlortgage Insurance, ta have the Mortgage Insurance�erm�na�ed au�o�x�.a��ca��y, andlor to receive <br /> a refund of any M�rtgage Insurance prem�u�ms that were unearned at the tim�.e of such <br /> cancel�ation ar ter�m�nat�on. <br /> '1�. Ass�gnment of Misceflanenus Praceeds: Forf�iture. Al� N��sce��aneaus Proceeds are hereby ass�gn�d to <br /> and sha��be pai�to L.ender. <br /> �f�he Proper�y is darn�.aged, such Miscei�aneous Proceeds sha�i be a�p�ied to rest�ra�ion or repair of the <br /> Prnp�r�y, �f the restaratian or repa�r�s econom�.ca�ly teasible and L,�nder's securi�y is nat l�ssened. During <br /> such repair and rest�ration per�od, Lender sha��ha�e�he right to hoid such Miscel�aneaus Proc�eds until <br /> Lend�r has had an appartuni��to inspec�such Proper�y�o ensure the v�rork ha�be�n c�mple�ed to Lender's <br /> N�BRASKA-Single�amily-Fannie Mael�reddie Mac UNIF�RM�NSTRUMENT Form 30�8'�141 <br /> VMP[� VMPfi�N�}{'�3pzy <br /> Wniters Kluwer Financial Ser�ices Page 9 vf 17 <br />