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��15��953 <br /> continue�o pay to Lender the amoun�of�he separately desi�nated payments that were due when�he <br /> �nsurance co�erage ceased to be�n�ffec�. L,�nde�-�ri�� acGep�, use and retain thes�payments as a <br /> n�n-refundab�e loss reser�e �n lieu of Mor�gage�nsuran��. Such�oss reserve shall b�n�n�refundabie, <br /> n��v�rithstanding the fact�hat the Loa��s u�timateiy pa�d in fuii, and Lender sha11 not�e required�o pa� <br /> Borro�v�r�r any inter�s�or earn�ngs on such loss reserve. Lender can no�onger require�oss reserve payments <br /> if Martgage�nsurance co�erage�in�he amount and for�he period that Lender requires}pro�rzded b�r an <br /> insurer se�ected�y Lender again becom�s availa��e, is ob�ained, and Lender requires s�para�ei�des�gnat�d <br /> payments toward th�prem�iums f�r Mor�gage�nsurance. If I�ender required IVlor�gage�nsurance as a <br /> condit�an af making �he Loan and Borrower was requ�red to make separa�e�y d�signa�ed payments tov�ard�he <br /> prem.�ums for N�artgage�nsuran�e, Borrower sha��pay the premiu�x�.s requir�d to rn.a�n�ain N�or�gage <br /> Insurance in effeG�, or�o provide a non�refunda�Ie�oss res�r�e, un��� Lender's requirement for N�or�gage <br /> Insurance ends in accordance wi�h any writ�en agreemen�be�ween Borr��ver and Lender pro�idir�g for such <br /> �ermina�ion or un�il ��rminat�on �s requ�red b�App�i�able Law. N�thing in�h�s Secti�n 1�affects <br /> Borrower's ob�igation�o pay in�erest at the rate p�-a�ided in�h�No�e. <br /> Mortgag�Insurance reim�ur�es L.ender��r any�ntity �hat purchase��he No�e} for cer�a�n losses it may �ncur <br /> if Borrower daes not r�pa�the Laan as agre�d. Borrower�s not a par�y ��the Mortgage�nsurance. <br /> Mortgage�nsur�r�evalua�e�heir�o�al r�sk on alI su�h insurance in f�rc�fram tinle to t�me, and n�ay enter <br /> in�o agr�em�nts with ath�r parties that share or m�dif�their risk, or reduce iosses. These agreements are on <br /> terms and condi��ons tha�are satisfactory���he mor�gage�nsurer and �he other par���or par�i�s}ta these <br /> agreements. Th�se agreements may requzre�he martga�e�nsurer�o make payments using an� source�f funds <br /> that the mor�gage insurer may ha�e a�ailable�which may �nc�ude funds ob�a�ned fram Mortgage�nsurance <br /> premiums}. <br /> As a result of these agreemen�s, Lender, any purchaser of the Note, another insurer, any reinsurer, any o�her <br /> en����, or any aff�liate of any of�he farego�ng, rna�r re�e��e�direc�Iy or indirec�ly� am�unts�hat der�We from <br /> �or m�ght b�charac�erized as� a portion af Borro�v�r's pay�nen�s for Mor�gage�nsurance, �n exchange for <br /> sharing or modifying the m�rtgage insur�r's risk, ar redu��ng Iosses. If suc� agree�men�provid�s tha�an <br /> affiiiate of Lrender takes a share of the�nsurer's risk i�exchange far a share of the premiums paid to the <br /> insurer, �he arran��m.ent�s flf�en tenmed "captive reinsuran�e." Fur�her: <br /> �a� Any such agreements wil�not affec# �h�amounts that Barrower has agreed�o pay for Mflrtgage <br /> Insurance, or any a�her terms of the L�an. Such agreemen�s wiii not increase the arn�unt <br /> Borrower wi�� owe for Mor�gage InSuran�e, and they w�ii not entit�e Borrower t�any r�fund. <br /> �b� Any such agreements ��v���not affec��he rights Borrower has-�f any-with respect tv�he <br /> Mortgage Insurance under the Homeowners Protection Ac�of 1998 or any other law. Th�se rights <br /> may include th�r�gh�to recei�e cer�ain disclosures, to request and ubtain cancel�a��on of the <br /> Mortgage In�urance, �o have the Mor�gage Insurance�ermina�ed autnmatical�y, andlor�fl receive <br /> a refund of�ny Mar�gage Insurance premiurns that w�re unearned a�the���e of such <br /> canceliation vr termina�ivn. <br /> 'i"I. Assignment of Miscellaneous Praceeds; Farfeiture. A�� Misc�I�aneaus Proc�eds ar�hereby assigned�� <br /> and shall b�paid�o Lender. <br /> If�he Propert}� is damaged, such M isce��aneous Proceeds shali be appl ied to res�oration or repa�r of the <br /> Praper�y, �f th�r�storat�on or repair is ecanomically feaszb�e and Lender's security �s no���ssene�i. During <br /> su�h repair and restoration p�riod, I.�nder shall hav��he righ��o ho�d such M�sce��ane�us I�roceeds until <br /> L�nder has had an opportuni���o inspect such Prflperty�o ensure�he work has b��n completed to L.end�r's <br /> N�BRASKA-5ingle Family-Fannie MaelFreddi�MaG UNIF�RM INSTR�M�NT Form 3��8 11D1 <br /> VMP Q VMPfi{N����3023 <br /> WQItBfS KIIIW@f Fltl�i'3Ci8I S@�VEC$S Page 9 n#�7 <br />