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2� 15�7799 <br /> con�inue�o pa�r �o Lender the amount of the separately designated payments tha�v�ere due vvhen the <br /> insurance coverage ceased�o be in effect. Lf:�C���"W1II �GC��3�, u�e a.�.d re�ai�these paymen�s as a <br /> nan-refundab�e�ass reser�e�n lieu of Mortgag�Insurance. Such �oss r�serv�sha�� be non-r�fundabie, <br /> natv�riths�and�ng�he fact tha�the Loan is uitima�ely paid in full, and L.ender sha�l nfl�be requ�red to pay <br /> Barrau�er any interes�or earnings on such I�ss reser��. Lender�an no longer requ�re l�ss reser�e pay�men�s <br /> �f Mor�gage Insuran�e�overage��n the amoun� and for th�per�od�hat Lender requires}pro�ided�y an <br /> insurer sele��ed b� Lender aga�n b�com.es available, is abta�ned, and Lender requires separa�e�}� designated <br /> payments tov�rard�he premuums f�r Mor�gage�nsurance. �f I,�nder required Mor�gage Insurance as a <br /> cond�t�on of mak�ng �he Loan and Borrov�er was r�qu�red �o make s�para�e�y des�gnated pa�ments tovvard the <br /> premiums for Mor�gage Insuranc�, Borrov�er shail pay the prem�ums requ�red ta ma�n�ain Mor�gage <br /> �nsurance �n effe�t, ar�n prov�de a non-refundable loss r�serve, un�ii Lender's requ�rement f�r Mortgage <br /> Insurance ends �n accordan�e v�r�th any wr���en agree�m�n�be�ween gorr�wer and Lender praviding for such <br /> terminati�n or untz� �errn�ination is requ�red by Applicable Law. Nflthing �n�h�s Sec��an ��aff�cts <br /> Borrower's ob��gation to pay interes�at the ra�e proWided �n the N�te. <br /> Mor�gag�Insurance re�mburses Lender�or any ent�ty tha�purchas�s the Note} for certain�osses it may �ncur <br /> �f Borr�wer does not repa�r the Loan as agreed. Barrawer is not a�ar�y�fl�he Mor�gage�nsurance. <br /> M�r�gage insur�rs e�a�uate their�ota� risk�n aii such insurance in force from time to t�me, and may en�er <br /> �nto agreemen�s with o�her par�ies �hat share or mod�fy the�r ris�, or reduce�asses. These agreements are on <br /> terms and canditions that are sa��sfa��ory to �he mor�gage insurer and�he other par�y �or par���s} �a these <br /> agreemen�s. Thes�agreemen�s may require the mor�gage insurer to make pa�ments us�ng any source af funds <br /> that�he mor�gage insurer may hav�a�ailahle (whiGh may inc�ude funds�b�ained from M�r�ga�e Insurance <br /> premiums}. <br /> As a resu�t of these agreements, Lender, an�r purchaser af�he Note, another�nsurer, an� re�nsurer, any other <br /> ent�ty, or any affiia�e of any flf�he faregaing, may re�eive �dir�ctly or indi�rectl�} amounts tha�derive from <br /> ��r m�gh�be chara�teriz�d as� a par�ian of B�rrower's payments for M�r�gage�nsurance, in exchang�for <br /> sharing�r modif}�ing the mor�gage�nsurer's ris�, or reducing lflsses. If such agr�ement pro�zdes �ha�an <br /> affil�at�af Lender takes a share of�he insurer's risk in e�change for a share of�he premium.s pa�d to the <br /> �nsurer, the arrangement is often termed "captive reinsurance." Further: <br /> �a� Any such agreemen�s wi��na� affec��he am�oun�s that Borrawer has agreed to pay for Mar�gage <br /> Insurances or any o�her�erms of�he Loan. Such agreen�en��w�I�n�t�n�rease the amount <br /> Borro►wer wil�owe for Mvr�gage Insurance, and�hey w��i not en����e I�arrower to any refund. <br /> ��3 Any such agreemen�s wil�not affecti�he r�ghts Borrower has -if any �-vvith r�spect�o the <br /> Mortgage Insurance under#he�3oxneowners Pratect�on Ac�of 1995 or any o�her�aw, These r�gh�s <br /> may�nclude the right�o rece�ve cer�ain disclasures, to requ�5t and ob�a�n cance��at�on af the <br /> Niortgage Insurance, to have the N�or�gage Insurance terminated au�axna��cal�y, and�or to receive <br /> a refund of any Mortgage Insurance premiums that��vere unearned at�he�ime of such <br /> cancellation flr�ermina��on. <br /> 1�. Assigrtment �f Miscellaneous Proceed�; ��rfeiture. A11 Misce�laneous Pr�ceeds are here�y ass�gned�o <br /> and shal�be paid to Lender. <br /> If the Praperty is damaged, such M iscellaneous Praceeds shall�e app�ied t� restarat�fln or repa�r of�he <br /> Prop�r��, �f the restora�ion ar repair is economically feasible and Lend�r's security �s no�Iessened. During <br /> suc�a repair and res��rati�n peri�d, Lender shal�have th�righ�to hold such Mis�eilaneous ProGeeds until <br /> Lender has had an oppartunity to inspec�such Proper�y to ensure th�work has�een completed�o Lender's <br /> N�BRASKA-5i�gle�amily-�ar�nie MaelFreddie Mac UNlFORM INSTRUM�NT Form 3D�8 1!0� <br /> VMP� VMP6�N�f(13��3 <br /> Wv�ters Kluwer FinanG€al 5er�ices Page 9 of 1�' <br />