Laserfiche WebLink
2� 1 ��2539 <br /> can�inue t�pa��o Lender the am�un�of the separate�y des�gna�ed paym�n�s�hat�ere due when�h� <br /> �nsurance coverage��ased to be in effect. L�nd�r wi�� accep�, us�and re�ain these payments as a <br /> non-refun�.ab�e loss reser�e in�ieu of Mor�gage Insurance. Such�oss reserv�s�al�be non-refundable, <br /> n��v�ri�hs�and�ng�he fac�tha��he Loan�s ul��mate�y pa�d in full, and L�nd�r shaii no�be required�a pay <br /> Barr�wer an� �nterest or earn�ng�on such�oss reserve. Lender can no Ionger requ�re loss res�rve payments <br /> �f Mor�gage�nsurance co�erage(�n the amount a�.d for�he period tha�Lender requires}pro�r�ded by an <br /> insurer seie�ted by Lender again beeomes avai�a�ie, �s�b�ained, and Lender re�uires separately des�gna�ed <br /> payments�oward�he prem.�ums f�r Mor�gage�nsurance. �f Lender required Mnr�gage �nsurance as a <br /> cond�ti�n af making the Loan and Barrower vwas required to mal�e separate�y designa�ed pa�ments �oward the <br /> premiums far M�r�gage�nsurance, Borrower sha�l pa�r�he premiums r�quired to main�a�n Mor�gage <br /> �nsurance in effe��, or�n pro��de a nan-refundable�ass res�rve, unti� Lender's requiremen�for N��r�gage <br /> Insurance ends in accorda.��e wi�h any v�rr����n agre�men�b�tween Borr�wer and I.�nder prav�ding f�r such <br /> term�na�ion or until terminat�on is required by App�icable Law. No�hing in this Sec��on �0 affec�s <br /> Borrower's ohl�gatian to pay inter�s�a��he ra�e pro�ided �n�he No��. <br /> Martgage�nsurance reimburses Lend�r�or an�ent�ty�hat purchases�he Note}for cer�ain losses Yt may incur <br /> �f Borr�wer da�s nat repay the Laan as agreed. Barr��ver�s not a party to�he Mar�gage�nsurance. <br /> Mar�gage insurers �val.ua�e�he�r tota� r�sk�n a�1 such insurance in farce fr�m��me t�time, and may en.�er <br /> into agreemen�s v���h other par��es tha�share or modify�heir risk, or reduce�osses. These agre�men�s are an <br /> terms and conditions that are sa�isfac�ar��o the mor�gag�insurer and�he oth�r par�y �or par�ie�}to thes� <br /> a�r�em.ents. These agreements may require the n�or�gage�nsurer�a make payments us�ng any source of funds <br /> �ha�the m�r�gage insurer may have a�a�lab���which may in��ude funds obtained fr�m Mor�gage�nsurance <br /> premiums�. <br /> As a resu��of�hese agr��ments, Lender, any purchas�r�f the Note, ano�h�r�nsurer, any reinsurer, any o�h�r <br /> en�ity, or any affi�iate of a.n�af�he foreg�ing, rnay r��e��e tdirectly ar�ndirectly} amaunts tha�derive from <br /> �or might be�harac�er�zed as} a por�ian af Borro�ver's paymen�s for Mor�gag�znsuran�e, in e�change for <br /> shar�ng or modify�ng�he martgage insurer's r��k, or r��ucing losses. �f such agre�men�prav�des tha�an <br /> aff���a�e of Lender�akes a share of�he insurer's r�sk�n exchange for a share of the pr�miums paid�� �he <br /> insur�r, �he arrang�ment is of�en termed "captiv�reinsurance." Further: <br /> �a} Any�uch agreern�.ents vvill no�affect the amo�xn��that Sorro►wer has agreed to pay for Mortgage <br /> Ir�Surance, or any other terms of the Loan. Such agreement�w��� not increase the amount <br /> Borrower wil�owe for Martgage Insurance, and they w��i not ent�tle Borrower to any refund, <br /> �b} Any 5uch agr�ements w�I�no�aFfect the rights Borraw�r has-�f any -�w��h respect to the <br /> Mortgage In�urance under the I3om�.eowners Protect�on Act of 1995 or any other�aw. T`hQse r�ghts <br /> may inc�ude the right to recei�e certa�n d�scio5ures, t�request and obtain cance��ation af the <br /> Mor�gage Insurance, tv have the Mortgage Insurance term�nated au��matica��y, andlor to rece��e <br /> a refund of any M�rtgage Insurance premiurns that were unearned at the time of such <br /> cancellation or termination. <br /> '�'I. Assignment �f Nl��ce��an�ous Proceeds; Farfe�tu�e. A�� M�scel�aneous Pracee��are hereby ass�gned�o <br /> and sha��be pa�d�a Lender. <br /> �f�h�Pr�per�y is damagecl, such Miscellane�us Prn�eeds sha11 be applied t� res��ra�ion ar repair of�h� <br /> Prop�r��y if�he restarat�an or repair is economica�ly feasible and Lender's securi�y is na��essened. During <br /> such repair and restflra�ion period, Lender shal�ha�e the ri�ht to hold such Misce�laneous Proc��ds unti� <br /> Lender has�ad ar�op�ar�un�ty�o xnspec�such Proper�y to ensure the�vork has be�n c�mp�e�ed�o Lender's <br /> NEBRASKA-Single�ar►�ily-�annie Ma�J�r�ddie Mac UNIFDRM INSTRUM�NT Farm 3Q2$11D1 <br /> VMP Q VMPfi(N�J{1302y <br /> Wotters fCluwer�inancial 5er�ic�s Pa�e 9 0€�7 <br />