Laserfiche WebLink
. ��15���5� <br /> � �� � � � � �� �} � <br /> �� � � � �� <br /> c�nt�nue�o pay t� Lend�r the amount of�h�separa�el�desi�na�ed payments tha�were due when the <br /> �nsurance caverag�ceased to be in effect. Lender��11 aCcep�, use an�.retain these payments as a <br /> non-refundabi��oss r�ser�e�n�ieu of Mortgage�nsuranc�. Such�oss reserve sha�� be nan-ref�undabl�, <br /> n��withstanding the fac�that th�Laan �s u���ma�ely paid in full, and L�nder sha��no�be require�.�o pa� <br /> Borro�nrer any in�erest or earnings�n such I�ss reser�re. L�nd�r can no Iong�r requ�r��oss reserve payments <br /> if Mor�ga�e�nsurance co�erage�in�he amoun�and for�he period that Lender requires}provided by an <br /> �nsurer se�ect�d by Lender aga�n be�omes ava��abi�, is obta�ned, and L�nder r�qu�res separately designated <br /> paym�nts tovvard the premuiums for N�or�gage�nsuran�e. �f Lender requ�red Mor�gage Insurance as a <br /> cond�tion of making the Loan and B�rrower was requ�red to make separa�e�y des�gna�ed payments taward�he <br /> premium� for Mor�ga�e�nsurance, B�rrov�rer shall�ay�he prem�ums required�o maintain Mortgage <br /> �nsurance in effect, �r to prov�de a non-refundable loss res�r�es un��I Len�er's requirement fnr Mnr�gage <br /> Insurance ends in ac�ordance w�th an�writ�en agreement betvveen Borrower and Lender pro�id�ng f�r such <br /> . term�.na�ion�r untii terminati�n�s required by App�icab�e Law. No�hing in�his Section ��affe�t� <br /> .-_ <br /> � Borrower's o�l�gat�on ta�ay intere�t a��he rate pr�vided �n th�Note. - � � � <br /> M�r�gage�nsurance r�imburses Lender�or any en�it�that purchases the No�e} for certa�n�osses i�may�ncur <br /> if B�rrovver does not repa�the I.�an as agreed. Borrower is not a party to�he Mor�gage�nsurance. <br /> Mor�gage insurers e�ra�ua�e the�r tota� r�sk on all such �nsurance in force fram.tzme�o��me, and ma�enter <br /> �n�o agr�em�nts with o��ier par�i�s tha�share or mod�fy�heir risk, or reduce�osses. These a�re�men�s are on <br /> terms and c�nd�t��ns that are sa��sfa�tory t��he mor�gage insurer and the other party �or par�i��� to�hese <br /> agr�emen�s. These agreements may require the martgage insurer ta make payments using any s�urce�f funds <br /> �hat�he mortgage�nsurer may have a�raila�le�whi�h ma� �n�lude funds ohtained fram Mortgage�nsurance <br /> premiums}. <br /> As a r�su�t of these agreements, L.ender, any purchas�r of�he �ote, ana�her insurer, an�reinsurer, any�ther <br /> � ` entity, or any af��iate of un�r of�he forego�ng, �may recei�e�d�r����y or�ndirec�l�� amoun�s that deri�e from <br /> �or m�ght be�harac�erized as}a por�ion of Borro�rer's payments far N�or�gage�nsurance, in ex�hange for <br /> sharin�or mod�fy�ng the mor�gage�nsurer's risk, or reduc�ng lasses. �f such agreexnenf pr��ides�ha�an <br /> aff iiate af Lender�akes a share of the insurer's risl�in exchange f�r a share af the prexniums paid to�he <br /> insur�r, the arrangemen�is�f�en termed "cap���e reinsurance." Further: <br /> �a� Any such agreements wi��nat affect�he amoun�s tha�Borrower�as agreed�o pay for Mor�gage <br /> Insurance, ar any o�her terms of the Laan. Such agreemenf5 wi�l not increase the amount <br /> Borrower w���owe for Mortgage Insurance, and they wi��not�nfi�tie Borrower to any refund. <br /> �E�� Any such agreements wi��no�affect�he righ�s Barro►wer has�if any�wi�h respect to the <br /> Nlortgage Insurance u�der the Homeawners Protect�an Act of 1998 or any other�avv, 'T`hese righ�s <br /> may�nc�ude the r�ght to receive cerfa�n disclosures, to request and ob�ain cance�lation of th� <br /> Mvrtgag�Insurance, to ha�e the IlZor��age Insurance�erminated autamat�r.���y, andlor to rece�ve <br /> a refund af any�Vlor�gage Insuranc�pr�rniun�s that were unearned at the t�me of such <br /> cance�iation or ternl�nat�on. <br /> '1'1. Assignment vf �1lt�sc�llaneous Praceeds; Farfeitur�. AI� Mis�e�laneaus Proceeds are�erehy ass�gned to <br /> and sha�l be pa�d to Lender. <br /> �f the Prop�rt� is dama�ed, such Misce��aneous Pr�ceeds shall be app�ied to restarat�on or repa�r of the <br /> Propert�, �f the res��ration�r r�pair is econamically f�as�ble and L�nder's secur�ty is nat�essened. During <br /> such repair and res�orat�on per�od, Lend�r sha��have the righ�to hold such M�sce�laneous Proceeds until <br /> L�nder has had an oppor�uni�y to inspec�such Proper�y t��nsure�he w�rk has been camp�eted to Lender's <br /> N�BRASKA-Single�amily-�annie Mael�reddie Mac UNIFORM INSTR�M�NT Farrn 3flZ8�1�1 <br /> VMP� VMPS[NE3 Z'i 3d�f <br /> Wo!#ers Ktuwer Financi�l S�r�iG�s Page 9 of�7 <br />