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2� 15�82�4 <br /> cont�nu�ta pay t� I.ender th�amoun�of the s�para��ly designated payments�ha�were due when�he <br /> insurance coverage�eased to b�in effect. Lender w�ll acc�pt, use and retain these paymen�s as a <br /> non�refund�b�e l�ss reser�e �n lieu�f�or�gage�nsurance. 5uch�oss reserWe shali be nan--r�fundable, <br /> no�v�iths�and�ng the fact that the L�an is u���mateiy pa�d �n ful�, and L.ender shal�na�b�r�quired�o pay <br /> Borrower any interest or earnings on such�oss reserve. Lender can no �onger require�oss reserve payments <br /> if N�or�gage Insurance co��rage��n the arnount and for the perind that L.�nd�r requires�prn�rided by an <br /> insurer selected by Lender again becam�s a�ailab�e, is obtazned, a�nd L�nder requires separate�y designated <br /> paymen�s tov�rard the premiums for Mortga�e�nsurance. �f Lender required Martgage Insurance as a <br /> condition of m�ak�ng�he I..aan and Borrower v�ras required to make separate�y des�gnat�d pa�ment�taward the <br /> pr�miums for Mortgage�nsurance, Borrower sha�I pay the prem�ums required to ma�ntain Mflr�gage <br /> �nsuranc� in effe��, nr to provide a non-refundable�oss r�serve, un�i� L�nder's requirer�aen�for Mor�gage <br /> Insurance ends in accordance with any wr���en a�reement be�ween Borrower and Lfender pro�iding for suc� <br /> termination or un�ii�ermina�ion is required�y App�icab�e Law. N�thing in�h�s S�ction �D affeGts <br /> Borrower's obliga�ion ta pay �nterest at the rate proWided in�he No��. <br /> Mortgage�nsurance r�im�urses L,�nder(or an�en�it� �ha�purGhases the Note} f�r cer�ain losses it ma� �ncur <br /> if Borrov�er does no�r�pay the Loan as agreed. Borr�wer is not a par�y�o the Mor�ga�e�nsuran��. <br /> Mor�gage�n�urers�vaivate�heir tota� risk an all su�h insurance in#�or�e from time to time, and ma�ent�r <br /> in�o agreemen�s with o�her par��es tha� share or modif�their risk, or redu�e�oss�s. Th�se agre�rnen�s are on <br /> �erms and cond�t�ons that ar�satisfac�ory to the mortgage insurer and �he o�her party �or part��s}to th�se <br /> agreements. These agre�men�s may require the mor��age�nsurer to mal�e payments using any source af funds <br /> tha��he m�r�gage�nsurer nia�r have a�a�iabie �which may �nc�ude funds o�b�ained from Mor�gage�nsurance <br /> premiums}. <br /> As a resu�t�f these agreements, Lend�r, an�purcha�er�f the No�e, another insurer, any re�nsurer, an�other <br /> entity, or a�.y affi�iate of any�f th�fore�oing, may rece�ve�dir�ct�y or�ndirec�iy} amounts that derive from <br /> �or m�gh�be charac�eri�ed as} a port�on of Barrower's paym�n�s f�r Mortgage�nsurance, in exchan�e for <br /> sha�-�ng or modifying the mor�gage insurer's risk, or reducing losses. If such agree�nen�pro��des tha�an <br /> affilia�e of L�nd�r�akes a share of the�nsurer's risk in exchange far a shar��f�he prem�ums paid to�he <br /> insurer, the arrangement is often�er�med "capt��re reinsurance." Further: <br /> �a� Any such agr�emen�� w���not affect the amoun�s tha�B�rrower has agreed�o pay for�Vior�gage <br /> Insurance, or any o�her terms of�he Loan, Such agreemen�s wi�� not�ncrease the am�unt <br /> Borrower w�l�owe for Mor�gage Insurance, and the� w�l�no�ent��le Borrov�er t�an�refund. <br /> {b� Any such agr��ments w���not affect the r�gh�s Borrower has��f any -►w�th respe�c�to�he <br /> Mortgage Insurance under the I3omeovvners Pro�e��ion Act vf 1998 or any other Iaw. These rights <br /> may�nc�ude the righ� #o receive cer�a�n disclosures, to reque�t and obtain cance��a�ion of the <br /> Nlortgage Insurance, to ha��the M�r�gag�Insurance�erm�nafied au�amatical�y, andlor to rece�ve <br /> a refund of any Mortgage Insurance prenr��uxns�hat were unearned a��he time af such <br /> cancella��on or termination. <br /> ��. Assignment of N��scet[aneous Proceeds; Forfeiture. A�� M�scel�aneous Proceeds are h�reby assigned�o <br /> and shall be paid to L,ender. <br /> If�he Proper�y �s damaged, such Miscellaneaus Pr��eeds shall be applied�o resfora�ion or repair of the <br /> Proper��, if�he r�stora�ian ar repair is econonuca��y feas���e and Lender's securi�� is not lessened. Dur�ng <br /> such repair and res��ra�ion period, L�nder sha�l ha�e the r�ght t�ha�d such N��sc�l�aneaus Pr�ceeds unt�l <br /> L.�nder has had an oppor�unity to inspec� such Property�o�nsure th�work has been c�mp�e�ed to Lender's <br /> NEBRASKA-Single Family-Fannie Mael�reddie Mac LJNi�aftM INSTRUM�NT Form 3D28 i ID# <br /> VMP(a VMP6�NE}(130Zi <br /> Wvlters Kfuw�r Finan�ial S�r�fces Page 9 af 17 <br />