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��15�57�� <br /> can�inue to pay t� Lender the an�oun�of the separately desi�nated paym���s tha�were due when the <br /> insuranc�ca�erage ceased�o be�n effec�. Lender wi�� accept, use and reta�n�hese payrnents as a <br /> nan�refundabie Ioss reserve in lieu af Mar�gage�nsurance. Such loss reserWe shall be non-r�fundab�e, <br /> notv�i�hstandin��he fact that the Loan is ultimately paid in ful�, and Lender shai�not be r�quir�d�o pay <br /> �orrower an�intexest or�arnings on�uch loss reser�e. I..�:nder can no �onger require loss reserve pay�ents <br /> if Mar��a�e�nsurance co�era�e��n�he amount and for th�period that Lender requires}pro�ided by an <br /> insure�-�e�ec�ed U� Lend�r aga�n becomes a�ai�abie, is ob�ained, and L�nder requ�res �epara�el�designated <br /> payments taward�he premiu�m.s fo�r Mor�gage Insurance. �f Lender required Mart�a�e Insurance as a <br /> condit�on of mak�n����e I.c�an a��d Borrow�r v�as required�a make separat�Iy des�gnated payments taward the <br /> prem�uxns for Mor�gage�nsuran��, Borr�wer sha��pay the premiums requ�r�d to main�a�n Mor��a�e <br /> �nsurance�n effect, or to pr�vide a non-refundab�e�oss r�serve, un�il Lende�-'s requirement for Mort�age <br /> Insurance ends in accordance with any writ��n agreernent bet�reen Borrawer and Lender prov�ding f�r such <br /> terrninatian or unt�1 termination is required by Applicab�e Law. No�hin� �n�h�s Se�tian ��affects <br /> Borrawer's ob�igation�o pay�nterest a��he rate prov�ded in the Nat�. <br /> Martgage Insuranc�reimburs�s Lender�or an�ent�ty tha�purchases the Note} for c��rtain�asses it rnay incur <br /> if Borrov�re�does n�t repay the Loan as agreed. Borrower is not a par�y to�he Mortgage Insuranee. <br /> Mor�gage insurers eva�ua�e their tatal risk an a�l such insuranc�in f�rce fram�ime to��me, and may en��r <br /> �nta agreements with other par�ies that share or m�d�fy�heir r�sk, or reduce l��ses. These agreements are on <br /> �erms and cand�t�ons that are sat�sfactory to�he mortgage insur�r and the other party �or par�ies}to�hese <br /> ag�reern�n�s. Th�se agreem�n�s rnay require the mnrtga�e insurer��make payments using any sourc�❑f funds <br /> �ha��he mQr�gag�insurer may have ava�Iable�wh�ch may�nc�ude funds abtained from Mor�gage�nsurar�ce <br /> pr�miums}. <br /> As a resu�t❑f�hese agreemen�s, Lender, �u�y purchaser a�`the Note, anather insurer, ar�y reinsurer, any other <br /> enti��, or any af�iliate of any of�he forego�ng, may recei�e�d�rectly ar�ndire�tly}amounts that der��re fram <br /> �or migh�be charac�er��ed as}a par�ian�f Bvrrower's pay�nen�s for Mor�gage Insuranc�, in exchange for <br /> shar�ng or modifyzng the mor�gage insurer's risk, or reducin��osses. �f such agre�ment pro�ides�hat an <br /> affiliate of L.ender tak�s a share af the�nsurer's r�sk in exchange for a share af th�prerniums paid to the <br /> insurer, th�arrangement is aften termed "capt��r�reinsuran�e." Fur�her: <br /> �a� Any su�h agreements��vi�l not affec�the amounts tha�Borrower has agreed to pay for Mortgage <br /> Insurance, ar any oth�r ter�ms of the Loan. Such agreemen��wil�n�t increase the amount <br /> Borrower will awe for IVlar�gage Insuranc�, and they wi�l.na�en�i�le B�rrow�r to any refund. <br /> �E�} Any such agree�nent��vilI no�afFect �hQ rights Borrow�r ha5-if any-wi�h re�pect�a the <br /> Mortgage Insurance under the Homeowners Pra�ection Ac�af 1995 ar any o�her law.These rights <br /> may include�he right�a recei�e certain dis�iosures, �o reque��t and�htain canc�lla�ian af�he <br /> N�ortigage Insurance, �o havc�he Martgagc Insurance�crm�nated autnmatica��y, andlor�o recei�e <br /> a refund af any 1Vlortgage Insuranc�pr�miurns�h�t were unearned�t the�ime of such <br /> cance��a�ian or termina��on. <br /> ��, Assignment of M�s�e�[aneous Pro�eeds, Forfeiture. All Misce��aneaus Proceeds are hereby assigned�a <br /> a��d shali b�pa�d tn Lender. <br /> �f thc Proper�y�s damaged, such Misce�laneous Proce�ds shall be app�ied�a r�s�orat�an or repair of the <br /> Proper�y, if the restora�ion ar repair is e�onomicall� feasible and Laender's s�curit�� �s not lessen�d. During <br /> such repair and res�aration pe�riod, L.�nder shall have the righ�to hald such M�sce�lan�ous Proceeds until <br /> Lender has had an opportun�����inspe��su�h ProperYy ta ensure the v�arl�has been comp�eted ta Lender's <br /> NEE3AASKA-Si�gle Family-�annie Mael�reddie Mac UNI�"aRM lNSTRUMENT �a���ozs�ioz <br /> VMP[� VMP6tNE3��30�1 <br /> W�lters Kluwer�inancial Ser�ic�s Pa�e 9 af 17 <br />