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2� 15�77�2 continue to pa� to I..end�r the amount af�he separate�y designated paymen�s tha�were due when the �nsurance co�r�rage ceased to be �n eff�c�. Lender wi�l accept, use and reta�n th�se�a�n�ents as a n��-r�fundable loss reserve in lieu of M�r�gag��nsurance. Such�oss reserve shall be non-refundable, notwiths�anding �he fact�ha�the L.oan�s ultima�eiy pa�d in full, and L�nder shall not be required ta pay Borrower an� interest�r�arn�ngs on such �oss reser�e. L�end�r can no I�nger require i�ss reserve payments �f Mortgag�Insuran�e co�erage��n the am�unt and for the period�hat Lender requ�res} pro�ided by an insurer�e�ected�� Lender aga�n becomes a�a��ahle, �s�b�ained, and Lender r�qu�res separa�e�y des�gna�ed paym.ents tov�ard the premiums for Mor��age�nsuranc�. �f L.�nder requ�red Mor��age �nsuranc�as a candi�ion of making the Loan and Borrovcrer was required��make separa�ei�designa�ed payments toward�he premiurr� for Mor�gage In�urance, Borr�wer sha�l pay�he prexniums required to maintain Mortgage �nsurance�n�ffect, or t�provide a non�refundab�e�oss reserve, un�il Lender's r�quir�men�for Mnrtga�e �nsuran�e ends in accordance wi�h any wr�tten agreemen�between Borrower and�..,�nder pr��iding for such �erm�na�ion or un�i� �erm�na��on is requ�red b� Appl�ca�le Law. No�hing �n�his Section 1�affec�s Borr�wer's o�Iigation��pa� interes�a�the ra�e pro��d�d in�he No�e. Mortgage�nsurance reimburses Lender�or an�entit�tha�pur�hases the Note� for cer�a�n Xasses i�may �ncur if Borr�wer daes not r�pay�he Loan as agreed. Borrower�s no�a part�t� �he Mortgage Insurance. Mortgag�insurers e�aluate their�otal r�sk on al� such�nsurance in for�e fr�m�ime to time, and may ent�r into agre�n�.en�s w��h other par�ies that share or mod�fy�heir rxsk, or reduce I�sses. These agreemen�s are on t�rms and conditions�ha�are satisfactory to�he mortgage insurer and th�o�her par�y tor part�es} �a these agreements. Thes�agreeme��s may requ�re�he mortgage insurer to m�ake payments us�ng any source of funds that the mor��age�nsurer ma�ha�e a�ai�a��e�vvhich may include funds ob�ained from M�r�gage �nsurance premu.um.s}. As a r�sui�of these ag�eemen�s, Lender, an�purchaser�f�he Note, ana�her insurer, an�reinsurer, an��ther enti�y, or any af�ilia�e of any of�he farego�ng, may recei�re�directly or indirect�y� amaunts�ha�derive fr�rn �or mi.ght be character�zed as� a por�i�n�f Borrower's pa�men�s for Mortgage�nsurance, in exchange fflr sharin�ar mod�fying the mor��age insurer's r�sk, ar redu�ing�osses. If such agreemen�pro�rides that �n affiiiate af L�nder takes a share of�he �nsurer's risk in�xchange for a share of the premiums paid to �he �nsurer, the arrang�men�is of�en�ermed "cap��e reinsurance." Fur�her: �a� Any such agreement�►wil�not affe�t the axnounts that Borrower has agreed to pay for Nlortgage Insurance, or any other terms of�he Loan. Such agreements►wi��not increase the amoun� Borrow�r wi�l owe far 1Vlortgag�Insurances and they vv�ll not entitle Borr�wer�o any refund, �b} Any such agre�ments will not affect the r�ghts Borrower has-if any M w�th respec��the Mor�gage Insurance under the Horne�wners Prate��i�n Act of 199$or any ather�aw. These rights may inciude the right�o recei�e cer�ain disclflsure5, fo reques�and�btain cancellation of the Mor�gage Insurance, �a have the Mor�gage Insurance term�nated automatically, andlor�o reCei�e a refund�f any Mortgage Insurance prem�ums that were unearned a�the�ime�f such cance��at�on ar termination. ��. Assignment �f Misce[laneous Praceeds; Forfeiture. A1� M�scel�an��us Proceeds are hereby ass�gned�a and sha�i be paid�o Lender. �f�h�Proper�� is damaged, such Miscelian�ous Proceeds shaii be applie��o restara�ion or repair of the Prap�r�y, if�he restorat�on or repair�s ecanomically feas�ble and Lender's secur�ty is n�t lessened. I3ur�ng such repair and restora��n period, Lender sha��ha�ve the r�gh�ta hold such M�sce��aneous Proceed�un�il Lender has had an appor�un�� t� �nspect su�h Proper�y ta�nsure the w�rk has been c�mple�ed to Lender's NEBRASKA-Sir�gle Fami[y-Far��ie Mael�reddie Ma�UNIF4RM INSTRUM�NT Form 3�28 110� VMP� VMP6�N�f�13D�3 WaIters Kluwer Financiat Ser�ices Page 9 of"#7