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��15�335� <br /> c�ntinue to pa� to Lender�he amaun�of the separa�eiy designat�d payments �hat vvere due wh�n�he <br /> insurance caverage ceased to�e in�ffect. Lender will accep�, use and retain these payments as a <br /> non-refundable Ioss reser�e zn Ixeu of Mortgage�nsurance. Such loss reser��shal�be n�n--refundabie, <br /> notwithstanding the fact tha��he Loan�s ultima�ely paid in full, and Lend�r�ha�� not be requ�re�. �o pa� <br /> Borrower any �nterest or�arnings on such�ass reser�e. Lender can no longer require�oss re�erve payments <br /> if Mor�gage�nsuran�e co�erage�in�he an�ount and for the per�od tha� L.�nder requires}pro�ided by an <br /> insurer selected by Lender again becomes available, is obtain�d, and Lend�r requires �eparateiy designa�ed <br /> pa�ments ta�ard the premiums for M�rtgage�nsurance. If Lender required Mor�gage Insurance as a <br /> cQnditian af making the Loan and Barrow�r v�as requ�red t�make separa�e�y designated paymen�s toward the <br /> premiums for Mort�age �nsurance, Borrawer shall pay�he premiums requ�red to ma�nta�n Mar�gage <br /> �nsurance in�ffec�, or to pro�id�a non�refundable�ass reserve, un�i� Lender's requiremen�for Mor�gage <br /> �nsuran�e ends in accordanc�wx�h any�vr�t�en agr�ement be�ween Borr�w�r and Lender pr�viding for such <br /> termina�xon or unt�l termina�ion is requir�d by Appi�ca��e Law. Nothing in�h�s Sec�ion �4 aff�cts <br /> Borrower's obligation to pa� interest a�the rate pra�ided �n the Note. <br /> Mor�gage Insurance re�m�urses L.ender�or any en�ity�ha�pur�hases the Note} fflr cer�ain I�sses it ma� incur <br /> if Borrnwer does not repa� �he Loan as agre�d. Barrower is not a party�o the Martgage�nsurance. <br /> Mor�gage insurers e�aluate�heir total risk on a11 such insurance in fflrce from t�me to �ime, a.�d ma�enter <br /> into agr�em�n�s with other par��es that share or modif�their risk, or reduce�oss�s. Th�s�agreements are on <br /> terms and cond�ti�ns that are satisfactory ta�he nr��rtgage insurer and the o�h�r party ��r par��es�to these <br /> agreements. The�e agreemen�s may requ�re th�rnor�gage insurer to make payments using a�y sour�e of funds <br /> that�he mor�gage �nsurer n�a�ha�re a�ailabie�which may include funds obtained fr�m Mor�gage Insurance <br /> pr�miums}. <br /> As a resul�of�hese a�re�ments, Lender, any purchase�-of the Note, another insurer, any reinsurer, any oth�r <br /> en�i��, �r any af�iliate of any of the fnregoing, may receive�directiy�r�nd�rectiy� amounts tha�der�v�from <br /> ��r might b�chara�terized as} a par��on of Borrower's payments for Mor�gag��nsurance, in exchange for <br /> sharing or m�dify�ng�h�rr�ar�gag�insurer's risk, �r redu�in��osses. �f suc�agre�ment pr�vides that an <br /> affi��a�e of Lender takes a share of the insurer's risk in e�change far a share af the pr�m�ums paid to the <br /> insurer, the arrangemen�is often termed "captive reinsurance." Fur�her: <br /> �a� Any such agreements will not affect the amoun�s that Borrower has agreed�o pay for Mortgage <br /> Insurance, or any vther terms of the Laan. Such agreemien�s will no�increase the amount <br /> Borrower w��l owe fvr Mor�gag�Insurance, and they wil�not ent�tie Borrawer to any refund. <br /> ��} Any such agreemen�s w��l not affec�the rights Borrower has-�f any�w��h respect ta the <br /> Mor�gage Insuran�e under�he IIomeowners Pra�ec�ion Ac��f 1998 or any other�aw. These r�gh�s <br /> may include the r�gh��o receive c�r�ain disclosuress �o reque�t and abfain cance��ation of the <br /> Mortgage Insurance, �o ha�e the Nlortgage Insurance terminated au�omat��ai�y� andlor to recei�e <br /> a refund of any Mt�r�gage Insurance prem�unr�s that v�ere unearned at the tim�of such <br /> cancel�atian ar�erm�na��an. <br /> ��. Ass�gnment vf Miscel�anenus Prviceeds; Fvrfe�ture. A11 M�s�eilaneaus Proc�eds are hereb}� assigned�o <br /> and shall�e paid to L�nder, <br /> If the Property is damaged, such M�sce��aneous Proceeds sha11 be app�ied t� restorat�on or repair of the <br /> Pr�perty, �f the restoration or repair is econam.ica�ly feasx�bl�and Lend�r's secur��y �s not�essened. During <br /> such re�a�r and restoration periad, Lender shall ha�e�he right t�hold such Mis�eilaneous Pro�eeds un�i� <br /> L.end�r has had an oppor�un�ty to inspe��such Proper�y t� ensure�he v�ork has been compieted�o L,ender's <br /> NEBRASKA-Singl�Famiiy-Far�r�ie MaelFreddie Mac UNlF�RM INSTRUMENT Farm 342$110i <br /> VMP�] VMP6�NE)�i 3D2� <br /> Wviters Kluwer�inanc+a[5er�iGes Pag�9❑��7 <br />