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201602230
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Last modified
7/23/2017 10:38:08 AM
Creation date
4/15/2016 8:51:24 AM
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DEEDS
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201602230
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2� 1 ��223� <br /> An� arnvun�s disbursed by Lender under�h�s Sec�ian � shall be�ome add��ivnai deb�of Barro��r secured b}� <br /> th�s Secur��y I ns�rumen�. The�e amQun�s shal i bear in�ere��a���e N a�e�rate fr�rn��e da�e of d�sbur�en�en� <br /> and sha�� be payah�e, rv��h such interest, upon no�ic�fr�m L�nder t4 Borra�ver r�qu�s�ing pay�nen�. <br /> �f���s �ecurit� �ns�run�e��is or�a leaseh�ald, Bar�o�er sha�� comp�y w�th a��the prv��s�ons of��e leas�. �� <br /> B�rro�rer acquir�s fee�i�1e����e Pr�apert�, ��e leas��old and��e fe��i�le s�a11 no��nerge un�ess Lender <br /> a�rees�o��e�nerger i��ri�ing. <br /> 1 Q. �ortg�g� �n�ut�n�ew �f L�nder required Mortgage�nsurance as a�vndi��on Qf mak�ng the L�an, Bo�rro�er <br /> sha�� pay th�prernium�requ�red��ma�nta�n the Mor�gage�nsurance�n effec�. �f, for any reas�n, �he <br /> N��r�gage�nsurance cov�rage required by Lender ceases�o be a�a��ab�e from the mvrtgag��nsur�r��a� <br /> pre�iously pro�ided such insurance a�d Borrvv�er was reQuired to ma�e separa���y ��sig�nated payments <br /> �award t�e pre�iurns f�r Mvr�ga�e In�urance, Borrower s�a�l pay the pr�miu�ns requir�d�o vb�ain coverage <br /> subs�an�ially �qu�valen��a�he ti�or�gage Insurance pre�iau�l}� in effec�, a�a cvs�subs�antia�ly eQuival�n��o <br /> the cos�ta Barro�er af the Mor�gage�nsuran�e preWiously �n effec�, fron� an a��erna�e mortgage�nsurer <br /> se�ec�ed by Lend�r. If substant�a��� �au�va�ent�ortgage ��surance coverag�is nv�ava��ab��; Borrow�r sha�� <br /> cont�nue�a pay to Lender�he amaunt of the separa�e�y des�gna�e�payments that vvere due�vhen��� <br /> insurance cov�rage ceased t� be i�n effe��. L�nder w��� a���pt, use and r��ain th�se payrnen�s as a� <br /> non-refundable lass reserve in lieu �f Mar�gage �n�urance, Su�h �oss r�serve shall be non-refun�ab�e, <br /> nv�r��standin���e fac���a���e Loar� is ul�i�na�ely paid in ful1, and Lender s�all no��be re�uire�ta pay <br /> Borro�ver any ��,�erest vr�arnirigs an such loss res�rve. Lender�an na �tinger re�u�re�ass reser�e payments <br /> if l�ic�r�gage Insurance cav�rage�in�h�amoun�and far�he peri�d�ha� Lend�r requir�s�prav�ded by an <br /> �nsur�r s����ti�d by L�nder again�ecvm�s a�a��a��e, �s obta�nect, and Lender requires separa�ely designate� <br /> paym�n�s tov�vard the pr�tn�ums far 1Vlvrtgag�Insuran�e. �f Lender requ�red N�artgage Insuran�e a� a <br /> e�nd�t�on vf making�h�Laan and Barrv�ver vva�requ�red�o make separat���de�igna�e�pay�nents tov�ard th� <br /> �re�niums f�r N�or�ga�e�nsurance, Bvrro�nrer shall pay�he premiurn� required�a main�ain �I�Ior�ga�e <br /> �nsurance in effec�, or to proWid�a non�r�fundable�oss reser�ve, un�ii Lender's requirernen�for Mor�gage <br /> �nsurance ends in accordan�e���� afly wri��en agree�nent be�ween Barrawer and Lendex pro�iding for su��t <br /> �er�mina�ion or un��l ternn�na�ion is required by Applicable La�. N�v��ing in���s 5e��ion 1�affec�s <br /> Borrawer's obligati�n t��ay in��rest at the ra�e provided �n�he I�io�e. <br /> �ortgage�n�urance r�imburses Lender�or an�entity xha�purchases the Nate�for cer�ain lo�ses it may inc�r <br /> �f�arr��ver daes n�t r�pay th�Loan as agreed. Borravver�s not a party�o the Mvrtgage�nsurance. <br /> Nl�r�gage insur�rs evaiva���heir���al ri�k an aI� su�h insurance in force from tim��a�i�e, ar�d�na� �nxer <br /> in�o a�reen�en�s�i�� o���r par�ies��a�s�ar�or�nodify��eir ri�k, �r redue� ios��s. These agreements are�n <br /> �errns and condi�ioz�s��a�ar�sa�isfac�or��a��e���ga�e insur�r and�he o��er party�vr part�es�����ese <br /> agreen�en�s. T�ese agreern�n�s�nay requir��he r��r�g���ir�surer�o�na�e pay�n�n�s usin�ar�� s�urce of funds <br /> tha�t�e�nor��age insur�r rna�r hav�aWa�lable�rn��ic�rnay incl�a�e funds vb�ained fr�� N�ortgag��nsuranc� <br /> pr�m�ums}. <br /> �s a resu�t�f these agreem�nts, Lender, an�purchaser vf th�No�e, a�o��er insurer, any re�nsur�r, any <br /> �ther en��ty, or an�aff��at�af any�f the forega�r�g, may rece�We�d�re�t�y ar �n�ir�c�ly�a�noun�s�ha� <br /> derive fr�m �ar migh�be chara���r��e�as� a p��t�on af B�rrovsrer's paymen�s for Mar�gage �nsurance, in <br /> e�change for shar�ng�r m��ifying�he n�ar�gage insurer's r�s�, ar reducing Ioss�s. �f su�h a�reenr�en� <br /> provides�hat an aff��iate of Lender�akes a share of�he ir�surer's risk in�xcharig�fflr a share of��e <br /> prem�ums�aid t��he insurer, �he arrange�nen� is often��rn1e� "capt�We reinsurance." Fur�her: <br /> 2Q1 G-�843944 'i a�t3497��Jt7�2571�35 2454 <br /> NEBRASi�CA-5ing�e Famiiy-Fanr�ie IVI�elFreddie M�U�IIFaRM INSTRUMEAIT VIIITH AIIERS Form 30�8 1I�1 <br /> VA►IP[� V�PfiA�NE}�13�2} <br /> Walter�K�uwer Financiai Services 4i7120�5 'i�:�3 AM Page 9 af�T <br />
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