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201503510 continue to pay to Lender tl�e anlount of the separatePy designated payments that were due when tlie insurance coverage ceased to be in effect. Lender will accept, use aild retain these payments as a non-refundable Ioss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that tl�e Loan is ultimately paid in full, and Lender shall not be required ro pa5� Borrowei-any interest oi•eainings on such loss reserve. Lender can no longer require loss reserve pa5�ments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided b5� an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments to�Ward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reseive, until Lender's requirement for Mortgage Insurance ends in accordance witl� any written agreement between Borro��ver and Lender providing for such termination or ui�til termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or aily entity that purchases tlle Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortga�e Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from tinlc to time, and may enter into agreements with other parties that share or modify tl�eir risk, or reduce losses. These agreements are on teims and conditions that are satisfactory to the mortgage insurer and tile other party (or parties) to these a�reements. Tliese agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (�Which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, a�ly reinsurer, any other entity, or any affiliate of any of the foregoing, may receive(directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to tlie insurer, the arrangement is often termed "captive reinsurance.° Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the aniount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borro�ver has -if any - with respect t�the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights inay include the right to receive certaiu disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or terinination. 1 1. Assignment of Misceilaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If tlie Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is ecouomically feasible and Lender`s security is not lessened. Durin� such repair and restoration period, Lender shall have the right to hold such Miseellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Leilder's NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP O VMP6{NE)(1302) Wolters Kluwer Pinancial Services Page 9 of 7 7