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� 2� 15�8�99 <br /> cflntinue�o pay �a Lender�he amount of the separa���y designa�ed payments tha�were due when the <br /> insurance coverage c�ased�o�e in effec�. Lender w��i accep�, use and retain�hese paymen�s as a <br /> nonwr�fundabie lass r�serve�n�ieu of Mortgage�nsurance. Such loss reserv�shal�be non-refundable, <br /> na�withs�and�ng the fac��hat�h�Lflan is u��imatel�paid in fu11, and L�nder shal� not be requ�red t�pay <br /> Borrawer any �n�erest or earn�ngs on such Iass r�ser�e. Lender can na longer requir��ass reser�ve payments <br /> if Mor�gage�nsuranc�coverage�in�h�amflun�and for�he period that L�nd�r requir�s}prov�ded�y an <br /> insurer selected by Lender aga�n becames a�vailable, �s�b�a�ned, and Lender requires separa�e�� designated <br /> pa�rm.ents�oward�he premiums f�r Mor��age Insura�.ce. �f Lender required Mor�gage Insuranc�as a <br /> � cond��ion of making�he Laan and B�rrower was required�o make separate�y des�gnat�d paym�nts toward�he <br /> pr�miums for Mor�gage�nsurance, Barrower shall pay the premiums r�quired to main�ain Mor�ga�e <br /> �nsuranc�in�ffec�, ar to prov�de a non-refundable loss reser�e, untii L�ender's requirem�nt for Mor�gage <br /> Insurance end� in accordance w��h any wri��en agreement�et�een Borrower and Lender prov�d�n� for such <br /> terminatian ar un��l�ermina�ion�s required by App��cab�e Lav�. Noth�ng�n�his Sec��on 1�affec�s <br /> Borrow�r's obligat�on�o pay in�erest a��he ra�e provided in th�Nate. <br /> N�or�gage Insuranc�reim�urses Lender�or any en���y tha�purchases the No�e� for�er�ain losses �t may incur <br /> if Barro�v�rer d�es na�r�pay�he L�az�.as a�r�ed. Borrower is not a par�y to the M�r�gage�nsurance. <br /> N�or�gage�nsurers eva�ua�e their�o�a� risk on a�� such insurance in f�rce fr�m time to�ime, and may enter <br /> xn�o agreements w��h ather parties�ha�share or mad�fy their ri�k, ar reduce��sses. These agre�men�s are on <br /> terms and��ndi�i�ns tha�are satisfac�ory�o the m.or�gage insurer and the o�her par��tor parties} to these <br /> agre�me�.ts. T�ese agreements ma�requ�re the mor�gage�nsurer�o mak�paymen�s using an�r s�urce of funds <br /> tha��he mor�gage insurer may ha�e avai�a��e�which may inc�ude funds a�tained from Mor�gage�nsurance <br /> premium�}, <br /> As a resu��of�hese agreements, Lender, any purcha��r of�he Note, an�ther insurer, any re�nsurer, any �ther <br /> �nt�ty, flr any affil�a�e�f any of�he foregaing, may re�eive�d�rec��y�r indireG�ly} am�unts that deri�e fro�n <br /> ��r m��ht be character�z�d as� a por��on of Borro�ver's paymen�s fnr M�rtga�e�nsurancea in exchange for <br /> sharing or modifying the mortgage�nsurer's r�s�, or reduc�ng��sses. If such agre�men�pro��d�s that an <br /> affilia�e af L�nder�ak�s a share af the insurer's risk in exchang�for a share�f�he premiums paxd ta th� <br /> �nsurer, �he arrangemen� �s often termed "captive reinsurance." Fur�her: <br /> �a3 Any such agreements wil�not affect the amounts that B�rrower has agreed to pay far Mortgage <br /> Insurance, or any other terms of the Lnan. Such agreernents wiii not�ncrease the a�mflunt <br /> Borrower w���owe for Mortgage Insurance, and they vv���not ent���e Borrower to any refund. <br /> �t�} Any such agreements will not affe��the r�gh�s�orrower has��f any-with respec�tn the <br /> IVlor�gage Insurance under the Homeowners Protect�on Ac�of 19�8 or any o�her�aw. These rights <br /> may�nc�ude the r�ght to rece�ve Cer�ain disclosures, to request and ab�a�n cancei�at�on of the <br /> Mortgage Insurance, to have the Mortgage Insurance term�nated automatica�ly, andlor to rece�v� <br /> a refund of any Mortgage Insurance premiums tha�were unearned at the t�me of su�h <br /> cancellation or terxn�nation. <br /> �'f. Ass�gnment of Misce�[aneous Proceeds; Forfeiture. A�� M�scellaneous Proce�ds are here�y assigned�� <br /> and sha11 be pa�d�o Lender. <br /> �f the Proper�y is damaged, such M�s�e��aneous Praceeds sha�� be appi�ed ta r�stora�xfln o�-repa�r of�he <br /> Property, �f�he restora�ion or repair is econom�caliy feasib�e and Lender's se�uri�y zs not Iessened. Dur�ng <br /> such repair and restoration per�od, Lender sha��haW�the right to hald such Misce��aneous Pr�ceeds un��l <br /> Lender has had an oppor�unit��� �nspect such Propert��o ensur��he work has been completed to L.ender's <br /> NEBRASKA-5ingle�amity-Fanr�ie Mael�reddie Mac UNIF�RM fNSTRUM�NT Farm 3��8 11�1 <br /> VMP[� VMPE�N�f(i 3�2) <br /> Walters Kluwer Financial 5er�ices Page 9 of 17 <br />