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��14�7�4� <br /> coni.i��ue to�ay�o Lenc�er the a�nour��o�tille sep�.ra�ely designa�ed p�.��r�e��s�h�,t�re�e due whe�:�he <br /> �nsur�.nce c�verage c�asec��o be xn effec�. Len�er wi�1 accep�, use a�1�.re�air��he�e payznen�s as a <br /> na���efil.�:�.ab��Ioss reset•ve��z Zie�x o�Mortig�.ge I�asurance. Such Zoss reserve s�za���e�.a�-refu�dable, <br /> na�wi�hs�a�lc�ing�he fa����lat�he Laan is u���ma�e�y pai�.i�.fi�1�, and Lenc�er sha1�nfl�be�equirec�ta pay <br /> I3orrovsre�r any��1�erest or earr�i�gs on.�uc�1 loss reserve. Lei�d�r ca�r�o 1o�.ge�req��re��s�reserve payme�ts <br /> if Mor�gage�nst�rance coverage(�n�:he a�nau�1�a�.�.fox��he period th�.�Lender requires}pravided�by a� <br /> znsurer selected by Lend�� again beco�nes ava�lab�e, is ob�a�ned, and Let�d.er t�e�uires separa�e�y designa�ed <br /> pay�ne��s�a�t�vat d��ie preini��ns fair Mor�gage I��ura��e. �f Le�.de�rec�u�red.M�r��age Tnsurance as a <br /> cnnditian of tnal{in���1�Laatz a��d Bor�ower vvas i�equired�o inalfe separat�ly desigr�a�ed�aaymetlts f:oward t�1e <br /> pr�iniu���s far�Vlortigage I�sut a�ce, I3o�rovver sh�.11�ay t�1e p�emiu�ns rec�L�ired f�o m�.fn�ain Mortg�.ge� <br /> I�lsurance in effeci:, or tio pravide a nan--ref-�nda�le loss reserve, un�i1 Lend�r's requiretnenti f�r IVlortgage <br /> I��sura�lce en�s i�1 accordance wi�h ar�y wrttte�agreeineni:between Borrower ane�Lei�cle���rovic�ing for�uc1z <br /> �er�ni.zla�io�1 or u��il�errni�la�ion i�requ�red�by Appl�cab�e Lavv. N�ot�ii�g ir�t11i� Sec�io�x 1�affec�s <br /> I3orro�v�r's ob��gation�o pay i�ltier�st at the r�.te�rovide�ir��he N�1:e. <br /> 1V.�o��gage Ir�su�ar�ce rei�n��.�rses LeY�.der�or arzy e�tii�y tha�pt�r�ll�ses the No�e� f�r cer�ai�z lasses i��nay if�c�r <br /> �f BorroWer c�oes�lo�repay���e Loaiz as agreed. Borrov�er�s r�o�a�ar�y ta���.e Ma��gage I���ura.nce. <br /> Mar�gage i��s�.�rers eva�ua�e�heir�o�a1 ris��o��a1I such i�sura�lce in force fi�a�r�ti���e t��i�11e, and inay e��er <br /> ir��o agree�ne�zts vt�i�h o���er par�ies�hat s�lare�r�nod�fy t�leir ris��, or red.uce�osses. Tllese agree�net�ts az�e on <br /> terms a�.d co�d��ians�Iza�are sa��sfac�ary�o�he�nor�gage il�sure�a����he o��1e���.r�y�o��a.��ies� tio these <br /> � ag�eeinents. These agree�zlen�s�nay req�.t�re�1a.e zn�r�ga.ge insurer to�1a1�e payme��s using�.�zy satxrce of funds <br /> �ha��1ze zn�r�g�:ge insure��nay��.�.v�available�vvh�ch�x�ay in�luc�e fun�s ob�ained fi o�n Mor�gage Insu��ance <br /> premfut�ls�, <br /> As a resul�of t�zese agree�ne���s, Lender, a��y purc�laser of�he No�:�, ano�her�nsur�i�, a1�y reinsurer, any o�her <br /> e���i�y, o�a.t�y af�Yia�e of ar�y of�he forega�zlg, �z1ay�eceive�d�rectly or indirec�ly� a�x��unts�11a�der�ve ft oin <br /> �or�lughti be ch�.rac�erizec�as} a por�io�.�f T3orrov�r�r's paymer��s far Mor�ga.ge Ir�s�.�rance, �za.exchange for <br /> sha.r��a.g or�na�.�fy�ng�11e�nor�gage insui�e��'s f•is1�, or reduci��g losses, I�'such agreeme��pravides���a�an <br /> �.ff���a�e of Le�lc�er�a1�es �.s��are of tlle insu�er'�risl�in e�c�zange for a s1�.are af�he preinit�tns paic�ta�he <br /> ir�surer, ��ze a.�range��le�t is of���1 te��ned "ca�tive reinsurat�ce," Ft�r�her: <br /> �a} Any sucl�.agree�ne���s will no��tiffe�t�he n�norrxx�s that I3orrawer li�.s ��reec�to pny fo�•Mo��tg�ge <br /> Izasu�}an�e� ar��ay ather terins of tlae Loan, �������►��•ee�aae�a�s will n�t xncx•ease��ae 6��nou�at <br /> Borrawer will ovve for Mor�g�ge Insurn�ace, and�hey will x�o�ex�.�it�e�3orrovver�o ���.y refund. <br /> �b} A��y s��ch agreen�en�s will noti nffec���xe r��Za�s I3o�•rower la�s�if ax�y-�wxt�a.respec��a t��e <br /> �Vlor�gnge YnsY�rnY��e��Y�t�e�•the�Iomeovvne�.•s Prote�tia��.A.�t of 1998 ar any ot��er l.�vv. T�aese r�ghts <br /> �nay in�l��d.e the riglYt to re�eive cer�c�in dxsclosi�res, to x�equest�nd�kr��in�aza�ell�r�ion of t��e <br /> Mor�g�ge Insu�•ance, f:a ha�e tlie Mor��a�e Insr�i�•�nce te�•m�nated auto�natic���y, andlor to x•eceYvc <br /> �.ref����d of n���Mox•����e Iz�.sur�►z��e p�-e�n�rYins �hat vve�.•e Y�nen��ned�t the ti�ne of s�xcli <br /> c�nceY��tioY�or ter�xaiYx�tYaxa.. <br /> '�'�. A�si�nmen� of Ml iscellaneau� Pro��ed�; �orf�i�ure� All Misce�la.�eous P�+oGeeds a�e�Ze�e��as5igx�ec�t� <br /> �.nd s�1a11�e p�.�d to Lenc�.er. <br /> If i:l�e P�o�aerty is �a.11�a�ec�, suclz Misce��a�zeous Proceeds shall be��a�lied t�res�nra�ian ar t��a�r flf�h� <br /> P�o�erty, if t�1e re�toi a��an o�re�air�s ec�noinica��y feasi�ble ai�d Lender�� securi�y�s t�o�le�sene�.. DUt 111� <br /> such rep�.i�a.t�c�r�sta�a�ion p�t iod, Le�z�.er s�1�.��have the�ig11t�o��o1d�uch Miscellatleou�P�aceec�s un�il <br /> Le���.e���Zas had ar�n��o�t�.ni��r�o iizspec�st�ch P�•operty�o eilsi�re t��e wor1�ha�bee�1 c��nple�ed ta Le�det'� <br /> ����ra�o. <br /> N�BI�ASKA-5ingle Family-Fannie M aelFre�dle M ac IJNIF�RM [NSTRIJM�NT F'�rm 302� �1�1 <br /> VM P[] 11M P6�N�}��342} <br /> UVvlters Kluw er�inancial S�rvlces Page 9 of 9 7 <br />