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��1 5��74� <br /> cantinue to pay to Lender the amount af the separatel�r designated pa�ments tha�were due wh�n the <br /> insurance coverage ceased to be in effect. Lender wiii accept, use and re�ain�hese payments as a <br /> non-refundabl��oss reserve in Iieu of N�ortgage Insuran�e. Such�ass r�serve s�a�1 be nan�refundable, <br /> n�tv�i�hs�anding the fact that the I..�an is ul�imately pa�d in ful�, and Lender�hal1 na��e require�ta pay <br /> Borr�wer an�in�eres�or earn�n�s on such iflss reser�re. I.�ender can no Iang�r requ�re�oss reserve pa�ments <br /> if Mor�gage�nsurance coverage(in the amoun�and for the periad that Lender requires�provided by an <br /> insurer�elected b� Lender again becomes ava�lab�e, is abtained, and Lender requires s�para�eiy designa�ed <br /> payments to�vard�he premiums for Mortgage�nsurance. �f Lender requ�red N�ar�gage Insurance as a <br /> cand����n Qf mak�ng the Loan and Borrower was requ�red to make separately designated payments t�ward�he <br /> prexn�um�for Ma�gage Insuranc�, Borrower shai�pay the premiums required to ma�ntain N�ortgage <br /> �nsuranc��n effect, or�o provide a non-refundab�e�oss reser�e, unti� L,ender's requ�r�rnent f�r Mortgage <br /> �nsuranc�ends�n accflrdanc�vvith any�vritter�agre�rn�nt betwe�n Borrower and Lender prov�d�ng for such <br /> term�.nation or un�il termina��on�s required by Applicable Law, No�hin� in this S�ction ��affects <br /> Borrower's obligation to pay intere5t at�he rate prov�ded in the�Iat�. <br /> N�ar�gage�nsurance re�mburses L.�nder�or any ent�ty tha�pur�hases the Note� for cer�ain�osses ��may incur <br /> if Borrower does nat repay the Loan a�agreed. Boxrov�er is���a par�y ta the Mor�gage Insurance. <br /> M�rtgage insurers eva�ua�e the�r total risk on a�l �uGh �nsurance�n f�rce frorn��me�o�ime, and�na�enter <br /> into agreements w��h other part�es that share or mod�fy th�ir risk, or r�duc��osses. These agr�emen�s ar�on <br /> �erm�and c�ndit�ons t�a�are satisfaGtory�n�he mortgage insurer and the other par�� �or parti�s} �o these <br /> agre�rnents. These agreernents may require the mor�g�ge insurer to ma�e payments using any s�urce�f funds <br /> that the m�rtgage�nsurer may ha�e a�ailab�e�whi�h may inc�ude funds obt�in�d from Mor�gage Insurance <br /> prem�ums}. <br /> As a result of�hese agr�ernen�s, Lender, any purchaser of the Note, anather insurer, an�reinsurer, any other <br /> entit�, or any affiliate of an�of the for�go�ng, may rece��e(directl��r indirectx��arnaunts that deri�e frorn <br /> �or xnight be charactear�zed as}a porti�n of Borrower's payrnents for Mortgage�nsurance, �n exchange for <br /> shar�ng or mod�fying the rnor�gage�nsurer's�-isk, or reducing��ss�s. If such agreemen�pra�ides�hat an <br /> affil�a�e�f Lend�r�akes a share of the insure�r's risk in exchan�e f�r a share of the pr�miums paid t��he <br /> �nsurer, �e arrange��aen�is�ften�errn�d "cap�iv�reinsurance." Fur�her: <br /> �a} Any such agreement5 wil�no�affec�the arnount�tha�13orrower has agreed�o pay for N�ortgage <br /> Insuran�e, or any o�her t�rxns of the Loan. Sueh agr�emen�5 wi�i no�increase the amoun� <br /> Borrawer wil�owe for M�rtgag�Insurance, ar�d they w�i.�not en�itle Bnrrower to any refund. <br /> {h3 An�such agreen�ents v�v���no�affec��he rights Bnrrower has-if any-with respect to�he <br /> Mortgage Insurance under the I�omeowners Pro�ec�ion Ac�.vf 1995 or any o�her Iaw. 'These rights <br /> may�nc�ude#he r�ght to re�eive cer�ain d�sc�osures, �a reques�and❑b�ain c�nceila�ian of the <br /> Mortgage In�urance, t�have the Mortgage Insurance�ermiina�ed au�v�n.a�ical�y, andlor�o rece�v� <br /> a refund of any Mor�gage Insurance premiums�hat were unearned at the��me af such <br /> can�el�atian or termination. <br /> '1'I. Assignment of M�scellaneous Prviceeds; Farfeiture. AlI Mis�ellan�ous Proceeds are here��assigned to <br /> and shai�be paid�o Lender. <br /> �f the Proper�y�s damaged, such Misc�ilan�ous Proceeds�hal�b�app��ed t� restarat��n or repair of�he <br /> Proper�y, if the restoratian or repair is ecanomically feasible and Lender's security �s no�lessened. Durzng <br /> such repair and restora�ion period, Lender sha�l ha�r��he r�ght t�h�ld such Mis�eilan�ous Proceeds unt�1 <br /> Lender has had an oppor�un�ty tQ �nspec��uch Proper�y to ensure the wark has been campleted ta Lender's <br /> NEBRASKA-5ingie Farr►ily-Fannie Ma�IFreddie Mac LJNIFQRM INSTRUMENT Fvrm 3n28 7 J�1 <br /> VMP� VMP6ZN�}t#302f <br /> Wolters Kluwer�inancial Services Page 9 af i 7 <br />