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��15��43� continue to pay to Lender�h�amount of the separatei� designa��d paymen�s that were due vvhen the insuran�e cav�rage ceased t�b��n effect. I.�nder vvil� a�cep�, us�and reta�n these paymen�s as a non�refunda��e loss reserve in li�u of Mortgage Insurance. Such �flss reser��sha11�e nan-refundable, notwithstanding the fac�that the L,�an is u��imately paid �n full, a.�d Lender shall not be required to pay Borrovver an� interest or earnings on such�oss reserve. Lender can no longer requ�re�oss reserve payments �f Nlortgage�nsurance�o�erage�in the arnaunt and for the period that L�nder requires�prov�de�by an insurer selec�ed by Lender aga�n becomes avai�abl�, �s obta�ned, and Lender requires separa�e��r des�gna�ed payments toward�he prem�ums for N�ortgage�nsuranc�. �f Lender required Mortgage�nsurance as a condi�ion�f making the Loan and Borrovver v�as r�quired to make separately des�gna�e�i pa}�men�s tavvard the premiums for Mor�gage InsuranCe, Borrower sha11 pa�the premiums required to nr�axntain N�ortgage �nsuranc� �n effec�, ar�o provzde a non-refunda��e�oss reserve, until Lender's requiremen�for Mor�gag� Insurance ends in aGc�rdan�e w��h any writ�en agreement be��veen Borrower and Lender providing for such �ermination or unti� termination is required by Appiicable Law. Na�a�ng �n�h�s Section 1�affects B�rrower's abligation�o pa� �nter�s�at the rate prfl�id�d in�he Note, Mortgage Insurance rei�mburs�s Lender�or any en�zt��hat purchases�he Note} for�er�a�n losses i�may incur if Borrower da�s nat rep�y the Laan as agreed. Borrower is nflt a par�y to the Mor�gage Insurance. Mor�gage�nsurers evaivate�he�r total risk nn a11 such insurance in farce from�ime to t�me, and nza��nter �nta a�r�emen�s wi�h o�her par��es�hat share or modif� the�r risk, or reduce losses. These agreemen�s ar�on terms and��ndi�ions �hat are satzsfa�tary�o�h�xnor�gage insurer and the o�her party�or par�res}�o�hese agreemen�s. Thes�agreements may require the mar�gage�nsur�r to make paym�n�s us�ng any source of funds �ha�the mortgage insurer ma�have a�ailable�vvh�ch may �nc�ude funds o��ained fram M�r��age�nsurance prem�iums}. As a r�suit of these agreemen�s, Lender, any purchas�r of the Nate, another insurer, any re�nsurer, any other entity, or any af��iate of any of the faregoing, ma�receive�direct�y or indirect�y} amaunts tha�deri�e from �ar muigh�be charac�erxzed as3 a por�i�n of Borrower's payments for Mnr�gage�nsurance, in exchange for shar�ng or modifying�he mor�gage insurer's r�sk, or reduc�ng�osses. If such agre�znent prov�d�s�a�an affil�a�e of Lender�akes a share of the�nsurer's risk in exchange for a shar�of the premiums paid�o��e �nsurer, �he arrangement �s often�ermed "�apti��r�insurance." Fur�her: �a� Any�uch agreem�n�s w�ll not affect the amoun�s that Borrower ha�agreed to pay for Mortgage Insurance, or any o�her��rms of�he Loan. Such agreemen�s►wil�not�ncrease the amaunt Borrower wii�owe for IVlortgage Insurance, and they v�v��not entitle B�rrawer to any refund. �h 3 Any such agreemen�s �vi�l not affect the r�ghts Borrower has�-�f any-v�vith r�spect to the Mortgage Insurance under the Homeavvners Pratection Act of 1998 vr any other�aw. These r�gh�s may include the right to re�e�ve certa�n d�sciosures� to reques�and ab�ain canceliat�a�of�he Mortgage Insurance, ta have the 1Vlor�gage Insurance�ern��nated automatica��y, andl�r to recei�e a refund of any M�rtgage Insurance prerniums that were unearned at the t�m�of�uch �ance��a��on or�ermination. '1'I. Assignment �f Nf�scellaneous Proceeds; F�rfeiture. A�l Nlis�e��aneous Proceeds are her�by a�signed to and sha�i be paid�o L.�nder. �f�he Property is damaged, such N�isce�laneous Praceeds sha11 b�applied to r�stora��on or r�pa�r of the Property, �f the restorat�on or repa�r�s ecanomically feasib�e and Lender's securit� is not�essened. Durir►g such repair and restoratian peri�d, L�nder sha��ha�e the right to hold such M�scellaneous Pro��eds un�il L�nder has had an nppor�uni�y to inspe��such Proper�� o ensure the work has been c�mp�eted�o Lender's NEgftASKA-5ingie Family-Fanr�ie MaelFreddie Mac IJNIF�RM tNSTRtJM�NT F�rrr�3��8 11�1 VMP[� VMPfi{NEf�1302f Wo(ters Kluwer�inancial Ser�ices Page 9 af 17