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2� 15�81 � 1 con�inue to pay �o Lender the amoun�of the separately designated payments that w�re due when�he insuranc�co�erage ceased�o be in effect. L.ender wi�i accept, use and reta�n th�se pa��nents as a nan-reiundab�e��ss reserve in li�u of Mortgage�nsura�ce. Such las� reser�e sha�l be n�n-refundable, natwi�hstanding the fa�t that�he I,aan is ultima�e�y paid �n full, and L�nder sha�� not be required to pay Barro��rer any in�erest or earnings on such loss reser�e. Lender�an no �onger requ�re�oss reser�e paymen�s if Mar�gage�nsurance ca�erage�in�he amount and for�he period that L.ender requ�res}pro�x�.ed b� an �nsurer se�ected by Lender again be�on�es available, is �b�ained, and Lender requ�res separa�e�y des�gna�ed pa�men�s�oward�he premiun�s for Mortga�e�nsurance. �f Lender requ�red Mar�gage�nsurance as a condi�ian of ma�ing the Loan and Borro�ver was required to make separa�ely des�gnated pa�ments tovvard the premiums for Mor��age Insurance, Borr�v�er shal�pa� the prem.iums r�qu�red�o main�ain Mortgage Insuran�e�n effec�, or��pra�ide a nonTrefundable l�ss r�ser�e, un�i� L.�nder's requ�rem�nt for Mor�gage �nsurance ends in accordance vsr�th any�rr�tten agreement between Barr��r and Lender prov�d�n� for such term�na�ion or unti� term�nation is required b�App�xcab�e Lav�r. Noth�n� in�his Sec�ion 1�affects Borrower's obligati�n to pa�interest a�the rate proWided �n the Not�. Mort�a�e�nsurance re�mburs�s Lender�or any en�i��h�t purchases�he No�e} far��rtain lasses �t may incur if Borrawer does nat repay�he Loan as a�reed. Borr�wer is not a party �o the Mor�gage �nsuran�e. Mor�gag� insur�rs e�aluate�heir�ata� risk on a�l such�nsurance zn force from time�o time, and may enter into agreements w�th other par�ies �hat share or�mod�f��heir ris�, or r�duce�osses. These agreements are on terms and cand�tions that are sa�isfac�ary to th�mo�gage �nsurer and the oth�r par�y�or par�ies} t� �hese agreements. Th�se agreen�.en�s may require�he mor�gage�nsurer�o make pa�men�s us�ng an� source of funds �hat th�mor�gage�nsurer ma�have a�a��ab�e �v�rh�ch may �nciude funds �btained from Mortgage�nsurance premium�}. As a result af these agreements, Lender, any purchaser af�he Note, a�na�her insurer, an�reinsurer, any o�her entity, or an�affi��a�e of any af�he foregoing, may recei�e �direc�ly ar indirect�y}amoun�s tha�derive from �or nzight�e charac�erized as} a port�fln of Borr�v�er's pa�ments f�r Mortgage�nsurance, in�xchan�e for sharing or madify�n� �he mor�gage �nsurer's r�sk, ar r�ducin��sses. �f such agreement pra�ides that an af�Iiate of Lender takes a share af th�insur�r's r�sk�n exchange f�r a share of the premiums pa�d�a�he insurer, the arrangement is often termed "captive reinsuran�e." Fur�her: �a� Any such agree�nents wil�no�affec�the amounts tha�Borrower has agreed tn pay for Mvr�gage Insurance, or any ather terxns of the Loan. Such agre�men�s will no�increase�he amoun� Borrower vvill awe for NTartgage Insuranc�, and�hey��v�l�no� en�it�e Borrower�o any refund. �b} Any such agreements will no�affec��he r�ghts Borro�er has-�f any-��ith respe��v the Mor�gage Insurance under the Homeo��vners Protection Ac� of 199$ or any o�her�avv. Thes�righ�s xnay include�he r�gh�to rece��e c�r�a�n disclosures, to request and abta�n cancel�at�on of�he Mar�gage Insuran�e, �o ha�e�he Mor�gage Insuran�e�erm�na�ed automatica�ly, andlor to recQive a r�fund of any�Vlor�gage Insurance prem�ums�hat vvere unearned a��he time af such canc�Il��ian ar term�nation. ��. Assi�nment vf t1l�iscel(aneou� Proc�eds: Fo�fe�ture. A�� Misce�lan�ous Froc�eds ar�hereb�r ass�gned t� and shall be paid �o L�nd�r. If the Pr�per�y is damaged, su�h Miscellaneous Frnceeds sha�l be appl��d�o res�oration or r�pair of�he Propert�, if the restorat�on or r�pair�s e�onamicaliy feasible and Lender's securi�y �s n��essened. During such repair and r�storation per�od, Lend�r shall ha�e�he right to h��d such M�sc�llaneaus Proceeds unti� Lender has had an o�po�un�ty�a xnspect such Property to ensure the work ha�be�n comp��ed to L.ender's N�gRASKA-5ingle�amiiy-Fanr�ie Mael�reddie Mac UNIFDRM lNSTRUM�NT �orrri 3Q2$1103 VMP Q VN1P6�NEj�'13023 Walters Kluwer�inancia(5ervices Page 9 0#17