Laserfiche WebLink
2� 1 ��3912 <br /> separately des ignated paymei�ts that were d��e vvhe��t��e i nsurance co�era�e c�ased to be i n eff�ct. <br /> Lender wil l accept, u�e and retaln these paymei�ts as a r�o»-refundab�e loss reser�e i n �ieu nf Mort a e <br /> g � <br /> Insurance. Such l�ss reser�e shall be nnt�-refundable, notwithstanding tl�e fact that tl�e Loai� is <br /> uitimately paid in full, at-�d Lei�der s��a�1 riat be re�uired to pay Barrower a��y i»terest or ear��in s at� <br /> g <br /> such loss reser�e. Let�der can i�o long��req��ir� loss reser�e paymet7ts i f Mortgage �t�s��rance co�era e <br /> g <br /> �i��the a�r�aunt ar�d fo�•the period ��7at Le��der r�q��ires} provided by a1� itzs�rx�er se�ected b Lender <br /> y <br /> again becot�n�s avai�abie, �s obta�ned, a��d Le��der requires separately desi�;na�ed payments t�r�vard the <br /> prerniutns f�r Mortgage Irlsura��ce. If Le��der reqLzired Mortgage It�s�irat�ce as a condition af mak�n <br /> � <br /> the Loan and Borrower was requ�red to trtake separately desi���at�d pay���e��ts tovvard tl�e prem��E�1�s <br /> f�r Martgage Insurance, Borrower shall pay the p�•emiums required to �naii�tai�� Mor�gage Ir�surance in <br /> effect, or ta provide a non-refundable �oss reser�e, untiI Lender's requiret�ent for Mo�.gage Ii�surax�ce <br /> �t�ds in accordat�c�with atzy writte�� a�reetnent betw�en Borra�ver and Le��der pra�iditig for suc;l� <br /> termipation or ut�ti� term�nati��� �s required by App�icable Law. Not��in� itz�l�is Section 1� affects <br /> B�rrovver's o b ligatioi�to pay it�terest at the r�te providcd ii�t��e N�t�.�. <br /> Mortgage Ii�sLrrance reimburses Lender�ar any entity that purchases �he Note} for cer�ain lasses it <br /> �r�ay incur if Barrower do�s ��at repay the Loa�� as agreed. Borrower is ��at a party to�1�� iVlortgage <br /> �nsurance. <br /> Mortgage i��surers evaluate tlleir tatal risk o�� all su�h i��sura��ce i�� force from time to�ii�e, at�d <br /> �nay enter inta agreeYner��s wit�� other pat�ies��iat s��are�r m�dify thcir risk, or r-educe losses. Thes� <br /> agreements are an terms and conditions that are satisfactory tfl the mortga�e �ns�ir�r and the a�her <br /> party ��r parties}�a these agree��ne��ts. These agree��ne��ts may re�uire the mort�age insurer t� r��ake <br /> payr�ents usi��g ai�y source of funds t��at t�ie i�n�rtga�e insurer�nay ha�� a�ai�ab�e �wl7icl� r��ay ����l�.rde <br /> fut�ds obtained frozr� M�rt�age I��sura��c� pr�ir��uins}. <br /> As a result af tliese agr��lr�ei�ts, Lei�der, any purc��aser of the Note, az�ot��er �j�surer, any re�t�sLir�r, at�y <br /> ather entity, or any affiliate of any of t17e foregoii��, may recei�e (directly or it�directly}amounts tha� <br /> deri�e from �ar m�gl�t be c��ara�terized as} a portian of Borrower's paymet�ts For Mort�ag� InSLirance, <br /> i�� exc��ange f�r sl�aring or modify�n�the inortga�e rnsLirer's r�sk, or reducit�g �asses. If sucl�agreemei�t <br /> pro�id�s that an affiliate of Le��der ta�es a s��ar-e af the i��surer's risk ii� excl�a�i�;e far a sl�are af tl�e <br /> p�'�1T71UZ71S p�1CI�Q�h� iZ75Ut'�t", the arrangerr�e�lt is ofter� tet•�ned "'capt��e re�t�surat�c�." F��rtller: <br /> �A}Any su�h agreements wi�l not aff�ct the amounts that 13orr�w�r has a�rcec� to �ay for <br /> Mortgage Insuran�ey or any other term5 of the Loan, Such ��r�ements wil! nUt incr�as�.� the <br /> amount �3orrower will owe for M�rtga�e Insurance,anc� they will not entit�e �3�rrowcr to any <br /> refund. <br /> �B}Any such agreements will n�t af�'e�t the right5 l�orrower has- if�iny-� with respe�f to the <br /> IVYortgage Insuranee under thc�3omeowners �'rote�tifln Act v�'199� or any other law. ri'h�se <br /> rights may in�lude the righ� to recei�e certain disclosures, t� rcqucst ana obta�n �anccllation of <br /> �.he Mortgage InSurance,to ha�e the Mortga�c In�uranc�termin�fcc� autom�tically, andlor to <br /> re�ei�e a refund of any Morf.gage lnsurancc pr�miums that wcrc uncarned at thc time o�'su�h <br /> cancel�a�ion �r�ermination. <br /> '�'I. Assignment af Mi�cellaneous Proceeds; Forfeiture. �111 Miscellai7eo�rs I'r�ceeds ar� <br /> hereby assig��ed to at�d shai l be paid to Lez�der. <br /> If the Prop�r�y is datna�ed, s��c�� Misce�lai�eoL�s �'roce�ds shall be app�ied to restoration or repa�r af <br /> the Property, if t�1e restoration or repa�r 1s e�ot�oznrcally feasible a�id Lei�der's sec«r�ty is nat lessez�ed. <br /> ?3[�(]�l1 D 1 D� <br /> NE8RA5KA-5ingle Famify-Fannie MaalFr�ddi�Mac�NiFQRM INST���M�NT Form 3028 11U1 <br /> VMP� �212Q�5 <br /> Wolters Kluwer F�nancial 5erv�ces 20�6U61�15 1 1 3555-N�016�126N Page 9❑f 1� <br />