Laserfiche WebLink
2� 1 ���38� <br /> �aymen�s taward the prem�ums f�r Moz-�gage Insuran�e,Borrov�ret shall�ay�h���-em�tims reqt�ired�❑ <br /> ob�a�n coverage subs�antial�y ec�uzvalen��o th�Mort�age Ynsurance prev�o�.�s1y�n effec�, a�a cos� <br /> st�bs�an��a�1y�qulvalent t��he cos��o Borrow�r af�l�e Mo��tgage Insu��a�ce prevx�us�y in effec�j f�•om an <br /> al�erna�e mor�gage Ynsurer selected by�e�.der, If su�stan��a�1y eqt�zva�e��Mortigage Insura�ce c�verage <br /> xs no�avai�able,Bo�rrower sha��con��nue�o pay to Lender�1�:e amoun�of��ie se�ara�ely d�signa�ed <br /> paymen�s that vvere d�.�e when�he zn�t�rar�ce coveragE ceased�o be in effect,Le�c�er�i�I acc�p�,t�se ar�d <br /> . reta�r��laese paytl�en�s as a non-r�fu.nda��e loss reserv�zn Iieu of Mor�gag�Insur�.nce. Such loss reserv� <br /> shal�b�non�refu�.dable,na�ti�ri�hs�a�lc��ng�11e fac��hat�he Laan is u��ima�ely pai�.��fix1�,a�c�Lendezi sh�.11 <br /> �Zo�be requxrec��o�ay B�rrov�er any z�a�e�°est��°��.rni��gs o��su.ch loss reserve. Le�lder c�.n�1��anger <br /> requir�Ioss reserve paymen�s if Mor�gage Ir�suran�e coverag�������Ze amount and for�he per�oc��hat <br /> L�nder requ�res}pr�v�dec�by ar�i�st�re�s��ected by L�nder again be�om.�s ava��ab��, �s�b�a�.ed, and <br /> L��ld�r r�c�u�res separ�.�ely d�szgna�ed payxnen�s tov��.rd the prem.iL�m.s�ar M��tgage Insuranceo If I�ender <br /> re�L�xred Martg�.ge Insur�.nce as a�o�ldi�ian�f xr��.I{izzg the Lo�.n and�or�o�er was rec�uir�d to m�.1�e <br /> separa�ely design�.�ed p�yz�nen�s�o�v�.rd-�he premiL���ns for M�r�gage Inst�railce,�orrow�r sh�.�I pay�he <br /> prem�urns rec�u�red to maintaxn Mar�gage Insurar�ce xn effec�,or�:o pro��cle a non�refunc�al��e�ass rese�ve, <br /> tintz�Lend�r's r��u�rement for Mortgage Irasurance�nc�s�n a�cor�.a�ce vvi�h an�r writ�efl agreemer���e�vveez� <br /> Barro�ver a�d T�ende����ovidin�f�r sL�c����rm�na�i�n or t�n�i�ter��n�nation is reqlxired by App��cab�e La�r, <br /> Nothzng ir��his S ec�inn �D affects B orrowerps o�liga�ian�o pay i��eres�a��he r�.�e prov�ded in th�N�te, <br /> Mo�•tgage Insttranc�reimbL�rses Lenc�er�ar any ent�ty�ha�p��rchases t�e Note� for ce�•�air�T�ss�s i�may <br /> incur if Borrav�er�.�es n��repay��ze Loan as agr�ed.Bort•ower is no�a party���h�Mo�r� a e Ir�surance. <br /> g � <br /> Mor�gage insu.rers�vait�ate�he�r�o��.I ris��on a��st�ch znsura�ce in force�rorn�ime�o time,and may er�ter <br /> x�.to agreem.�nts wi�h othet•par��es th�.�share nr rn.adify��hei���sk,or reduce Iosses+These�,greemen�s are <br /> o��.�erms and condz��ons that are sat�sfac�nry��o the mor�gage�zasu.r�r and t.he a�her par�y�or par�i�s}�a <br /> �h�s�agre�rn�n�so These agreemen�s�r�ay rec�ti�re�h�mo��tgage�nsurer to rn.a1{�payments us�ng�,ny <br /> source of f��nds that�l�.e mortg�.ge xxzs�.�t•er m�.y h�.ve�.va�I�.ble�W�iich�nay in�luc�e funds obt�in�d from <br /> Mar��ag��nsurance prem�uxns�, <br /> As a result of�hese agree��n.ents,Lender, any purchase�-af the N�te, �.nother insurer, any reinsure��,�.ny <br /> �tiher en�z�y, or a�.y affi�za�e of ar�y�f�he foregairag,may rec�i�e�di�ec��y oz�ndirectly� amoun�s�h�.t. <br /> de�'�ve from��r m�gh�be characterized as�a portian of B�rrower's payments for 1Vlar�gage Ir�st�ra�.�e,�n <br /> ex�hange fo�i sharing�r xnoc�ifying�1�.e�nor�gage�nsuret�'s rzs1�, or rec�.uGing Iosses, If sl�Gh agreemen� <br /> provxdes tlaat a�affi�ia�e of Lender�a��es a shar��f�he insurer's ris��in exchange for a sha�e of�he <br /> . <br /> prenl�ti�xns paz�i to�he��surer, �he arrangemen��s of�en terr�led "capt�ve�e�nsurance."F�.i��h�r: <br /> �.A►.� Any such agreem�e�ts wilZ n�t �ffe�t the ax�ounts that Bo�rrower° has agre�d to pay �'or <br /> I�Iortg�ge InsuranCe, or any other terrns of th� L�an. �uc� agre�nnents w��i not in�r�ase the <br /> am�umt �orraw�r w��� owe for Mortgag� Insurancey and �hey wil� not er��it�e I�orro�ver ta any <br /> ref�r�d. <br /> �B} :�ny suc�� agreemen�s tiv�Xl n�t �ffect the r��hts ��rr��ver has �- if �.ny � �vvith respect 1:� the <br /> �J[ortgage Insu�rance unc�er the Hvmen�ners ]Protection Act �f 1�9� �r any ath�er Ia�v. These <br /> rzg�ats rnay �n�lud� the r�gh� to rec�ive certaxn c�is�Iosures, t� re�ue��: anc� obta�n can�e���tion <br /> of th� Mortgage Ir�s�xr�n�e, ta ha�e t�e NYortg�ge Insur�:n�� terxn�nated automatica��y, an�lor <br /> HCFG-OD359 <br /> NEBRAS�A-Single Family-Fannie ivlaelFreddie Mac�NIF�RM INST�UMENT Form 3�28 114� <br /> VM P� a7I15 <br /> Woiters Kluwer Finan�ial 5ei-vices 2Q�6�����5.2,2.3298�J�Q�5a728Y Page 9 of�7' <br /> *58885D�6215* <br />