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��15��349 <br /> co��inue to pay tn Lender 1;�1e aznaun��r�h�sepa���.�e�y c�esign�.ted��.y�nentis t�la�vtre�e c�L�e wlleza.�he <br /> ��ZSLxrar�ce coverage ceasec��o�be 1n efFec�. �endez•�v���accept, use a��c��•eta�n�hese pay�nen�s as�: <br /> na�-refia.�dab�e�a�s res�rve ir�lieu of Mot•tgag�xnsu�ance. Such loss reserve slia�l be non-reFunc�able, <br /> no�vvithstand��lg t�ze fac��1za��h�Loa�z is u�tlri�a�ely�aid in.fu11, and Let�der sha�1 nfl�be reqL�ire�.�o�ay <br /> Borro�et�any xx��eres�o�ea�nings axa.such loss reset v�, Len�er ca���Zo longerf�rec�utre l�ss reserve paymen�s <br /> if Mortgage I�st��ax�ce�av�rage���.�l�e ainaun�and Co���ze perio�i.ha�Le��der requires�p�ovicie�.by an <br /> i�-�surer selecte��by Le�lc�er again�e�o�nes ava��a�lile, is ob�a�nec�, ar��.Lender rec�uires sep�ra�ely c�esign�ted <br /> payinen�s�award�11e pr��niu�n� �'or Mor��a�e I�s��rai�ce. If Le��er requir�d Mor�g�.ge Insurance as a <br /> co�zdition of rrla.l�ing�he Loai1 a�zd Bor�rower was requ��ed�a�na�ce se��.ra�ely�es�gna�ed pay�ne��s�awa��d t11e <br /> pretniu�ns f�r Mar�gage���.sura��ce, I3orroWer•s�za�l pay the��erniu�n�reqL�ire�.to tnain��xn Mor�gage <br /> Ii�sura.nce z��effec�, or to�rov�de a n�n-r�fu.ndab�e�ass re�erve, un�i�Lender'�t�ec�u�remen�far Mar�gage <br /> In�u�ance e�ds �r��.cco��c�a�ce vsri�h any v�rrit��n agreei-ne��be�weer�B�rrower and Lender prov��.ing for sLtc�1 <br /> �er�r�inat�on or utz�:i1�er�-nit��.��on is rec�uired by App��cable Law. No�lling zr��hi� Sec��or� 1� aflects <br /> Ba��rov�er's obligat�o�.z to pay�.n�e�est a��he ra�:e providec�in the Note. <br /> Mo�r�gag�Insurance�eii-nburses Le��der�or a�zy e�.�i�y tha�purchases�he No�e� fD�'C�f�c�1n.��SS�S 1�171�.�'111CtiT <br /> if Bor�ou�er does no�repay�he�.aan as agreed, Borro�ver rs x�o�a par�y�a��e Mor�g�.ge I�zsurance. <br /> Mor�.gage��asure�s evaluai:e t�e�r�o�a1�•zs�{o��a��such i��urance�r�foree Ft•am���a.ze�a t��ne, �n�.��a���.�er <br /> in�o agree�llen�s wii.h o�:�zer p�.r�ies t11a�5h�.r�or�nodi:C�t1�e�r�risl�, or re�.uce 1Qsses, T��ese agree�nen�s are on <br /> �er�ns at�d ct���d��io��i;Iza�are sa�isfac�at y to��xe�nartgage�nsurer and�he at�ier par�y�o�pax��es� ta.these <br /> ag���e�ne���s. Th��e agreet��e���s�nay��quire��ie�nartgage insurer�a�nalfe payzne��s using a�zy�ource�f func�s <br /> �hai:�he�no��tg�ge insu�•er may have�.vailabl��w1�.ich�nay ir�clude f�nds o��a��ec�frn�n 1Vlor�gage Insura�ce <br /> p�e�niuins}. <br /> As a r�sul��f��a.ese agreeine�a.�s, Ler��er, any�pu.X���xase�`ol ti�e No�e, a�la�her�z�s��rer, a�1y��i�.surer, any o�her <br /> en�z�y, o�a�.y affilia�e of a�a.y af��ze forego��g, znay receive�d�reG��y nr tnd�rec�ly� �.�noun�s �ha�d.eriv�fro�r�. <br /> ��r�nYgl��be ch�t��.c�eri2ec�as} �.part�Qr�of Borrovv�r's�ay���n�s for Martigage Insuran�e, in�xchange f�r <br /> sha�i�lg or��nod�fyxng���e�n�r�gage��.surer4 s ris��, o�°reduci�g 1oss�s. If sucll a�ree�nen�p��ovides��a�an <br /> �.ff����.te o�Le�.c�.er�a.l{es a sl�a�e�f�he ins�.r�r's r�s��itz excliange fo��,sh�.�:e af�he p�re�ruums paic�1:�th� <br /> inst�rer, �he arrangei�le�7�is of�en�er�nec� "ca�tive rexnsl�rat�c�." �`ur�Za.er: <br /> �a} ,��y su�li a�reeme��ts vt�����ro�affe��the ��no��nts �hat�3orr�wer ha� a�reed to pay for�Iortig��e <br /> Insu�•�nce, ❑r�Yiy otZ�er�erm� of�he Lo�n. Suc����re�ments wi�l rio�i��.c�re�se tlie �tmo�r�iti <br /> �orrower wil�ovve fo�r•1VIQr���ge Insur�nce, nnd t�aey wi�l not enti�le Borrowex~to �ny refund, <br /> �b� ��y suc��.a�ree�nen�s vv�lY Y�ot�ffe��the x•���xts l3orrower hn���f�ny-�r���r�s�e�t�a the <br /> �Vlflrtg��e InS��r�nc�tYnder�he IIa�neawz�ers l��a�e�tYfln A�t Qf 199�oxi�ny o�he�.°l��va T���se r��hts <br /> �n�y inel��de the�x�l�t ta �•eceY�ve eer��i��d�sc��s��res, �� r�quest alad vu�a�xa c�.ncell��io��of 1;�ie <br /> �Vlnx�g�ge Y������•���ce, �o ha�e t��e 1Vlartgage Ii�sr�ra���e tern'in�.t���►uta�na�ic���.y� ���.c�lo�•ta�recexve <br /> �ref��nd of ariy M�r��n�e IYis�xrn��ce�remi��xx�.� t��at�vere��ne��•ned�t��ae�xme af sucl�. <br /> c��xceliatiozx or ter�ninn�Yo��. <br /> �'�. As��gnnnen� af i�l`rsc�l��n��u� P�oc�eds; For��i�ure. Al�Miscel��.tleous Pt•oceeds �.re�Zerel�y assignec��a <br /> arid sha11 be pa�d tn Lender. <br /> If�he Praper�y xs c�amage�., suc�z Miscellat�e�us Procee�.s shall�be ap��ied to�es�o�a�ia�ar�e�air of t�ze <br /> Pt�a�er�y, if�.�e res�ora�iafz o�•re�air is eGonail�ic�:11y feasi��e az1�.Lezzc�e�'s secu�'1�y�5�1����55�11�CC�. Dut��ng <br /> suclz�epai.r a�ld re��o�atior�peri�d, Lender sha1���a�re�lze rig����o�io1� suc�1 Miscell�.t�eous Pr�ceeds u�l�i� <br /> � Lenc�er�a.as laad an oppa�•tun�ty to i�spect�ucli Pxo�aer�y�a e��st�����ze wa���lzas beeiz co�npl��ed to Lenc�e�•'s <br /> 2��fl778� <br /> N�gRASKA-Single Fam i1y��annie M ael�rea�di�M ac IJNI��RM lNSTRU�11�IV'I' Farm 3��8�I�� <br /> VM P Q VM PG�NE�(1342} <br /> VVv�ters Kl��w�r�'inancial Services Page 9 of�7 <br />