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��15�1355 <br /> �on�inue to pay�o Lender the amount�f�he separa�ely designa�ed payments tha�v�rere due v�rhen�he <br /> insurance c��erag�ceased�o be in effec�. Lender wili accept, use and re�a�n these paymen�s as a <br /> non-refixndable�oss reserve in�ieu o#`Mor�gage Insurance. Such �oss reser�e shal�be non-refund�b�e, <br /> notwxthstanding th�fa���ha��he Loan is ultimate�y paid in full, and Lender shall nat�e requ�red to pay <br /> Borrower any �nter�s�ar�arnings an such Ioss reserve. Lend�r can no �onger require�os�reserve pa�ments <br /> if Mortgage�nsuranc��o�r�rag� (�n th�am�unt and for�he p�riod�ha�Lender requires�pro��ded by an <br /> insurer sele�ted b� Lender aga�n�ecomes avai�ab�e, is obta�ned, and Lender r�qu�res s�para�el�d�s�gnat�d <br /> payments toward�he premiums for Mor�gage �nsuranc�. �f Lender r�quired Nior�gage�nsurance as a <br /> cond���on of making the Loan and Borr�wer was required ta n�ak�separately des�gna�ed pa�men�s�oward�he <br /> premium�s far Mor�gage�nsurance, Borro�nrer sha��pay�he premiums r�qu�red tfl main�in Ni�rtgag� <br /> �nsurance�n effec�, or ta pravide a non-refundab�e loss reserve, untii Lender's requxr�ment fflr Mor�gag� <br /> �nsurance ends in acc�rdance with an�writ�en agreement betvc�een Borro�ver and L.ender providing for such <br /> �ermination or un�i�term�nation is required by Applicable L�w. No�h�ng �n this Sec�ion 1�affects <br /> B�rrower's ob��gatxon�o pay in�erest at�he rate provided in�he Note. <br /> Mortgage Insurance reimburs�s L.ender�or any ent�ty�hat pur�hases�he Nn�e} for��rtain l�sses ��may in�ur <br /> �f B�rrovver does not repay the Loan as agr�ed. Borrov�er is not a�arty to the Mvr�gage Insuran�e, <br /> Mar�gage �nsurers eva�uate the�r t�ta� risk on all such �nsurance in force from�ime to time, and may enter <br /> in�o agreemen�s wi�h ather parties�ha�share ar nnodify�he�r risk, ar reduce��sses. These agreem�n�s ar�on <br /> terms and conditions that are sa�isfac�ary to the mor�gage�nsurer and the othe�party�or par�i�s}�o�hese <br /> agre�men�s, Thes�agreements may requ�r�th�mor�gage insurer to make pa�men�s using any source of funds <br /> that the m�r�gage xnsurer ma�have a�aiiable�which may �n�lude funds obtained from Mor�gage Insurance <br /> premiums�. <br /> As a result of�h�se agreements, L�nder, any purchaser of the Note, ano�her insurer, any re�nsur�r, an�oth�r <br /> en�i�y, or any affi�iate of any af the foregoing, may recei�e�direct�y�r�ndirectly}am�unts tha�der�ve from <br /> �nr might�e chara�ter�zed as}a por�ion of Borro�er'� payments for Mor�gage Insurance, �n ex�har�g�far <br /> sharing ar mod�fying the mor�gage insurer's risk, ar r�ducing losses. �f such agreement pro��des�ha�an <br /> aff��iate af Lender takes a share of�h�insurer's r�sk�n exchange for a share of�he premiums pa�d to��e <br /> �nsurer, the arrangement is of�en��rm�d "captive r�insurance." Fur�her: <br /> �a� Any such agreemen�s�vill not affect the amour��s tha�Barrower has agreed ta�ay For Mor�gage <br /> Insurance, or any other terms of the Loan. Such agreements wi�l not�n�r�se�he amount <br /> B�rrower wi��ovve for 11�Iortgage Insurance, and�hey wil�not en�itle Borrower to any refund. <br /> €b 3 Any such agreemen�s wil�not affe��the righ�s Borrvwer has-�f any -w�th respect to the <br /> IVlortgage Insuranee under the Homeowners Protec�ion Act af 1998 or any a�her�aw. These r�ghts <br /> may inciude�he right ta recei►ve certain disclosures, to reques#and ol��ain cance��a��on of t�xe <br /> Mortgage Insurance, to have the Mortgage In�urance term�nated automatical�y, a�dlar to rece��e <br /> a refund of any Mortgage Insurance prem�ums�hat were unearne�d at the�ime oF suc� <br /> cancellat�on or tcrrn�nat�on. <br /> '['I. Assignment of Miscel�anevus Prviceeds; Forfeiture. Al� Miscellane�us Proceeds are h�reby assigned ta <br /> and sha�l be pa�d ta L�nder. <br /> �f the Prtiperty is damaged, such M�sc���ane�us Pr�ceeds shall be applied to restoration ar repa�r of�.he <br /> Pr�per��, if the res�ara�i�n ar repa�r is economica��y feasib�e and Lender's securi�y is not lessened. During <br /> such repaxr and rest�rat�on peri�d, Lender shall haWe the righ��o ho�d such Misce�laneous Praceeds untii <br /> Lender has had an�pportun�ty tn �nspect such Proper�y�o ensure�he work has been completed to L.ender's <br /> NEBRASKA-5ir�gfe Family-�annie Mael�reddie Mac l3Ni�C]RM INSTRUMENT Fvrm 3D�8 1l�1 <br /> VMP Q VMPfi�NEf�13fl�) <br /> Walters KEuwer�inancial Ser�ices Page 9 vf 17 <br />