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��14�7�5� <br /> con�inue�o pay to Lender the am�un�of th�separa���y des�gna�ed paymen�s tha��rer�due when�he <br /> �nsurance cov�rage ceased�o be in e�`fect. L.�nder wil� accep�, use and retain these pa�ments as a <br /> non-refundabi�Ioss reserve in�ieu of Mor�gage Insurance. Such loss reser�e sha�l be non-refundable, <br /> n��w��hstand�ng the fact that�he Loan is ul�ima��l�pa�d in fu��, and L.ender sha�l no�be requir�d�o pay <br /> Btirrower any in�eres�or earn�ngs on such loss reser�e. Lender can no Ionger requir��oss r�s�rve paymen�s <br /> if Mortgage Insuran�e cnverage t�n�he amoun�and for the period�ha� Lender requires}pra�ided�y an <br /> insur�r se�ec�ed by Lender a�ain becomes ava��a��e, is �btained, and Lender requir�s separa�e��des�gnated <br /> paymen�s taward the premiums for Martgage�nsurance. �f Lender requir�d Mortgage�nsuran��as a <br /> cand���on�f mak�ng the Laan and Borrov�►rer was required�o make separa�e�y designated pa�m�n�s toward th� <br /> prem�ums for Mortgage�nsurance, Borrov�rer sha�l pa��he prem�um�s �-equ�red to maint��n Mor�gage <br /> �nsurance�n effe�t, or to provide a non-refundable���s reserv�, untii Lender's requ�rement for N�or�gage <br /> Insurance ends in accordance with an�written agreem�n�be�v�een Barrower and Lender providing for such <br /> termina�ion or un��l termination is requ�red by Applicab�e Lavv. Noth�ng�n t��s Section 14 affec�s <br /> Borrovver's ob�igat�on to pa� intere��at�he ra�e pr�vided in�he Na��. <br /> Mortgage Insurance re�mburses Lender�or any enti���hat purchases�he N�te} for cer�ain�osses it may incu�- <br /> if Barr�wer do�s not r�pa��he Loan as agreed. B�rrower is not a part�to th�Mor�gage�nsuran�e. <br /> Mortgage�nsurers e�alua�e��.eir to�a� r�sk an al� such insurance in force from time�o�ime, and may enter <br /> into agre�men�s with o�h�r parties that share or modify�heir r�sk, or reduce losses. T�ese agreements ar�an <br /> �erms and�onditions�ha�are sa�isfactory to�he mor�gage insurer and th�other par�y �or par�ies}�o�a.ese <br /> a�reemen�s. These agre�men�s may requ�re�he mar�ga�e insurer to mal�e payments using any source of funds <br /> �hat�he mor�gage�nsur�r ma�ha��a�a�lable�which may include funds o�ta�ned from Mor�gage�nsurance <br /> �remiums}. <br /> As a resul�of�he�e agreements, Lender, any purchaser of the N��e, ano�her insurer, any reinsur�r, any o�her <br /> enfi�y, or any aff���a�e of any of the f�regoing, may rece�v��directly ar�nd�rectly} amoun��tha�d�ri�e from <br /> �or n��gh�be characteriz�d as� a port�nn nf Borrower's paymen�s for Mor�gage �nsurance, �n�x�hange for <br /> sharing�r m�d�fying�he martgage�nsurer's risk, or reduc�ng losses. �f sUeh agreement�rov�de�that an <br /> affil�ate�f Lender tak�s a share af the insurer's risk in exchang�fflr a share of th�premiums paid�o the <br /> insurer, the arrangernen� is often termed "�apti�e re�nsurance." Fur�her: <br /> �a} Any such agreements w�i�not aff�c�the amoun�s�hat Borrower has agreed to pay for�Vlortgage <br /> Insurances or any other terms of�he Laan. �uch agreements wi��not increase tbe am.aunt <br /> Borrower w�il owe for Mortgage Insurances and they w��l no�en�xtle B�rrower to any refund. <br /> �b 3 Any such agreemenfs w���nat affect�he r�gh�s Borrawer has-if any-�w�th res�ect to the <br /> Mortgage In�urance under the I3a�neowners Protect�on A��af 1995 or any a�her�av�. These r�ghts <br /> may�nciude�he righ�to receive certa�n disclo�ures, to request and obtain cancellatian of the <br /> Mortgage Insurance3 to ha�e�he Mor�gage Insurance term�nated automati���y, andlor tv recei►ve <br /> a refund of any IVlortgag�Insurance pr�miun���hat were unearned at�he t�me of such <br /> cance�ia�ion or termina�ion. <br /> �'1. Assi�nment af Misce��aneous Proceeds; Fvrfe�ture. A�1 Misce��aneous Prnceeds are h�reby as�igned to <br /> and �haii be paid�o Lender. <br /> �f�he Property �s damaged, such Mis�ellaneous Proc�eds sha�l be app��ed to res�ora�ion or repair of�he <br /> Proper�y, if the res�orat�on or repair�s econamica��y feasible and I.�nder's securi�y is not le�sened. During <br /> such repair and res�ara�ion period, L�nder shal�ha��the r�gh�to ho�d such Misce��an�us Proceeds un�i1 <br /> L.ender has had an apportun�ty to inspect such Proper�y to ensure the work has been conlp�et�d�� Lend�r's <br /> NEBRASKA-Single�amily-Fanni�Mael�reddie Ma�UNIF�RM INSTRUM�NT Form 3�Z8 1!01 <br /> VMP� VMP6�NE3 t1342) <br /> Walters K1t�wer Fir�ancial 5er�ices Page 9 af 17 <br />