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2� 1 ��2595 payments that were duc when the insurance coverage�easec�ta be in e��'ect.Ler�der will accept,use and retain these payments as a tlon-refi��dable loss reserve in lieu of Mnrtg�ge Ii��uran�e.5uch loss reser�e sha�l be non-refundable,nntwithstanding the fact that the Loan is ult�mately paid in full,and Lender sha�l nat be required tn pay I3o�-rnwe�any ir�tere�t nr ear��in�s on suc��loss reser�e.Lender can nn lni��;er require�oss reserve payments if Martgage�i�suran�e ca�erage(in the amount and for the periad that Lender requires}pro�ided by�n insurer selected by L�nder a�ain b�comes a�ailable,is obtained,and Lender requires separately designated payments toward the premiums for'Vlort�a�;e Insurance.If'Lender required Mort�;a��4��surance as a�ondition ot making the L��an and�3nrrower was required to make separately designated payments tnward the premiurrts ft�r Mort�age lnsurance,Qorrower shall pay the pre�niums required to maintain Mn�tga�;e�nsurance i�i et�'ect,ar�o prov�de a nan-r�fundable�nss reser�e, unti�Le��d�r's reyuire�nei�t tor Mortgage insurar�ce enc�s in accardance with any writte»agreernent betw�e» Borrower and Lender pro�iding for su�h termination or unti�termination is required by Applicable Law. Nothin�in this Section 1�at�ects�3orrnwer's Qb�i�atiar�to pay interest at the rate p�ovided in the Nnte. Mortgage Insuranc�reimburses Lender(or any e��tity that purchases the Nate}for certain losses it may in�ur if Borrower does i�ot repay the Loan as a�re�;d.Borrawer is nnt a party to the Mnrtgage Insurance. Mortgage'rnsurers evaluate their tatal risk on al]s�ich insurance i�z f�rce from time ta time,and may enter into agreements wit�7 other parties that share or znodify their risk,or reduce losses.These agreements are , on terms and conditions that are satisfaGtary ta the mortgage insurer and the other party(or parti�s}t❑ �hes�agreements.These agreements may require the mortgage insurer to make payments u�ing any source of funds that the m�rt�age insurer may ha�e a�ailable(which may include funds obtained fram Mortgage Insurance prem�ums}. As a result af these ag�eements,Lender,ar�y purc��aser❑f the Nnte,anat}�er i�lsurer,any reinsurer,any other entity,or any affiliate of ai�y af the foregain�;,may recei�e(direct�y or indirectly}amounts tl�at deri�e fram(or might be characterized as}a portion af Borrower's payments for Mor�gage Ii�surance,in exchan�;e for sharin�or modifying the mor�tgage insurer's risk,or reducing losses.if such agreernent pro�ides that ati affiliate nf Lender takes a share of the in;�urer's risk in exellan�e fnr a share of the pre�niutr�s paid to the iiisurer,the ai•rat��er�lent ts nf't�;i1 t�rmcd"captive reinsurance."Further: �A} Any suc�i agrec�rteiits will «ut affect ttl� amouri�s that Horrower has a�reed tv pay f'or Mortgage �i�surati�e, or a�iy ❑th�r tcrms o�'the l�oan, Such agreem�i�ts wi�l Eivt iia�rease �h� amount Barrower will owe for Mortgage liisurai�ce, and they will not cntitjQ �orrower to ai�y ref'und. {B} Any such agreements will not atfect the rights Barrower tias - it'any - with respect ta thL Mortgage ltisurance under #he Homevwners Pratection A�t ❑f' t998 vr any ather law. `�hese rights may include tt�e right �o rece�ve certa�i� dis�lasures, ta r�quest ai�d obtain ca��cellatioii of the Mor�gage insuranc�, �a ha�e the 1Vlort�;age f��surance terminatcd automatically, andlor to re�ei�e a refund of any Martgag� fn�urance premiums tl�at we�-e unearned at the time of su�h �an��lation or terminaY�on. 1'I.Assignment of MiscellaneQus Proceeds;Forfei#ure.AIl Mi�cel�ar�eous Prnceed�are 1lereby assigned to and sl�all be paid t�L�nder. ��as��s�� ��n5 v�+� Woiters Kluwer Financial 5ervices 2a16A42015.1.0.3112-J2015112AY Initlals: � Page 9 af 17 `MPk114B557S55 Q233 112` I i I � I