Laserfiche WebLink
��15�1�75 <br /> con�inu�to pay�o Lender the amoun�of the separa��l� designated pa�men�s�ha�were due wh�n�h� <br /> �nsuranc�caverage ceased to be in effect. Lender will accep�, use and re�ain�hese payments as a <br /> non-refundable�oss reserve�n��eu of M�r�gage Insura�ce. Such �oss rese�-rve sha�� be non--refun�able, <br /> na�w��hstanding the fact that th�Loan is u��ima�e�y paid �n full, and L�nder shal� na��e re�uire�t�pay <br /> Borrov�er any in�eres�or earnings an such�oss reserve. L�nder can no �onger re�uir��oss reserve payments <br /> �f M�r�gage Insurance ca�rerage tin�he amount and for th�period that Lender requires3 pro�v�ded'by an <br /> insurer selected by Lender again�ecomes avai�able, is obtained, and Lender requ�res s��arately designated <br /> pa�men�s toward�he premiums f�r Mortgage�nsurance. If I.ender required N�artgage Insuran�e as a <br /> condi�ion�f making�he L,�an and Bnrrow�r v�as requ�red�o n7ak�separa�el�d�signated payments toward the <br /> prem�ums for Mor��ag��nsurance, Borrower shall pay �he prem�iums requir�d to main��n Mortgage <br /> Insurance in effec�, Qr�o pro�ide a non-refunda�ble lass reser�e, un�il L�nder's requirement f�r N�or�gage <br /> Insurance ends �n ac�ordance with any wrx�ten agreement betw�en Borrov�rer and L.�nd�r providing for such <br /> term�natian or unti�termina��on is requ�red by Applicable Lav�r. No�h�ng in�his SeGtion l�affec�s <br /> Borrower's obl�ga���n to pay in�erest at the ra�e provid�d�n the I�o�e. <br /> M�r�gage�nsuranc�reimburses Lender(flr any�ntit�that purchases �he Not�}for��r�ain losses i�may incur <br /> zf Bnrrower d�es not repay the Loan a� agreed. Borrawer is not a par�y to the Mor�gage�nsurance. <br /> M�r�gage insurers evaluate�heir total risk an a�� such insurance in f�rce from t�me to time, and may enter <br /> �nto a�reemen�s wi�h o�her par��es that share or modr#y�heir risk, ar reduce losses. These agreements are�n <br /> �erms and conditions�hat are sat�sfactory to �he mortgage insurer and the other par�y �or parties�t� �hese <br /> agreements. These agre�men�s may require�he mortgage�nsurer t�rn.ake payments us�ng any saurce of funds <br /> �ha��he m�r�gage�nsurer ma�ha�e a�aiiabie (which may �nclude funds�btained from M�r�gage�nsuranc� <br /> prem�ums}. <br /> As a resui�of these agreemen�s, Lender, any purchaser of the Nflte, another�nsur�r, any reinsurer, any ather <br /> en�ity, or an�af��ia�e of any of the foregoing, may rece�ve�direct�y or�ndirec�i�� amounts that der�ve from <br /> �or might be charac�eri�ed as} a por�ian of Borrow�r's pa�ments for Mor�gage Insurance, �n exchange for <br /> sharing ar mod�fying�he mortgage�nsurer's risk, or reducing losses. �f such agr�ement pro�ides�hat an <br /> af��iate af Lend�r�akes a share of the�nsurer's risk in e�change for a share of�he premiums paid to�he <br /> insurer, �he arrangement is oft�n termed "capti��re�nsuranc�." Fur�her: <br /> �a� Any�uch agreemen�s wi�I no�affec�the arn�ounts that�orrower has agre�d to pay for Mortgage <br /> Insuran�e, or any other terms of the I.oan. Such agreemen�s vvili no��ncrea�e the amaunt <br /> Borra�v�r will owe for�Vlortgage InSurance, and�hey w��I not entit�e Borrower to any refund. <br /> �b� Any such agreemen�s will not affec�t�.e r�gh�s Borrower has -if any�-r��vi�h respec�to�he <br /> Mar�gage Insurance under the Homeowners Pro�ection Act af 1998 or an.y ather�aw, Thes�rights <br /> may include the r�gh��o rece�ve cer�ain disclosures� �a reques�and ob�ain cancel�a��on of the <br /> �Vlor�gage Insurance, to have the M�rtgage Insurance t�rmina�ed autama�ically, andlor to recei�e <br /> a refund of any�Vlor�gage Insurance�remiums that were unearned at th��ime vf such <br /> cance��atian or termination. <br /> ��. Assignment af M�scellaneous Proceeds; Forfeiture. A�� M�sc��laneous Proceeds ar�hereby assxgned to <br /> and shall be paxd�o I..�nd�r. <br /> �f the Proper�y is damaged, such Misc��Ianeaus Pracee�s shal�be app�ied to restorativn or repa�r of the <br /> Fr�per�y, if the r�storat�on or repair is econom€ca��y f�asibie and L�;nd�r's securi��is not lessened. During <br /> such repa�r and r�s�oration per�od, L�nder shall have the r��h��o ho�d su�h M�scellanevus Pro��eds un�i� <br /> L�nder has had an oppor�un�t�to �nspe��su�h Property�o ensure the work has been comp���ed ta L�nder's <br /> NEBRASKA-Sin�le Family-Fannie Mael�reddie Mac UNf��RM 1NSTRUM�NT �orm 3��8 11�# <br /> VMP� VMPfitNEf t13�23 <br /> Woiters Kluwer�inancia!Ser�ices Page 9 af i 7 <br />