201604506 - Laserfiche WebLink

Browse

2� 1 ��45�� Any amounts disbursed by Lender under this Section 9 shal�become additionai debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with su�h �nterest, upon notice from Lender to Borrower request�ng payment. If this Security Instrument is on a leasehold, Borrower shal�comply with all�he pro�isions of the lease. If Borrower acquires fee title to the Propertya the leasehold and the fee title shall not merge unless Lender agrees ta the merger�n writtng. 1�. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrawer sha�i pay the premiums required to maintain the Mortgage Insuran�e in effect. If, far any reason,the Mortgage InsuranGe coverage required by Lender ceases to�e a�aila�le from the mortgage insurer that pre��ously pro�ided su�h insurance and Borrower was required to make separately designated payments toward the prem iums for Mortgage Insu.rance, Borrower shall pay�he premiums required ta abta�n�o�erage substantially equi�alent to the Mortgage Insuran�e previously in effect,at a cost substantrally equi�a�ent to the cost to B�rrower of the Mortgage Insurance pr�v�ous�y in effect, from ar�alternate mortgage insurer seiected by Lender, �f substantia�ly equi�a�ent Mortgage Insuran�e co�erage is not a�ailable,Borrower shall continue to pay to Lender the amount of the separately designated payments that vWere due when the insurance co�erage ceased to be in effe�t. Lender will accept,use and retain thes�payments as a non-refundable loss reser�e in lieu of Mor�gage Insurance. Such loss reserve shall be non-refundab�e,notwithstanding the fact that the Loan is u�timately paid in full,and Lender shall not be required to pay Borrower any interest or earr�ings on such loss reserve.Lender can no langer require loss reser�e payments if Mortgage Insurance coverage �in the amount and for the period that Lender requires}pro�ided by an insurer setected hy Lender again becomes available, is obtained,ar�d Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Barrower was requir�d to ma1�e separately des�gnated payments toward the premiums for Mortgage Insurance, Borrower shall pay the prem iums required to maintain Mortgage Insurance�n effect,or to pro��de a non-refundable los�reserve, until Lender's requirement for Mortgage Insurance ends in accordan�e with any wriiten agreement betweer�Borrower and Lender pro�iding for such termination or until termination is required by Appl�cable Law.Nothing in�his Section 1�affects Borr�wer's obligat�on to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender(or any entity that purchases the Note} for certain �osses it may in�ur if Borrower does not repay the Loan as agreed. Barrower is not a party to the Martgage Insurance. Mortgage insurers e�aluat�their total risk on all such �nsurance in force from time to tim�,and may enter into agreements with other parties that share or modify their risk,or reduce �osses. These agreements are on terrns and Gonditions that are satisfact�ry to the mortgage insurer and the ather party(or parties}to these agreements. These agreements may require the mvrtgage insurer to make payments using any sour�e of funds that the mortgage insurer may have a�aila��e�which may include funds obtained from Mortgage Insurance premiums}. As a result of these agreements, Lender,any purchaser of the Note,another insurer,any reinsurer,any other entity,or any afFi�iate of any of the foregoing, may recei�e(d�rectly or indirectly�amounts that HCFG-OD359 NEBRASKA-Single Family-Fannie NIaelFreddie Mac UNIF�RM INSTR�MENT Form 30291I�7 �� 11I15 1M41ters Kluwer Financial 5ervi�es 2�1 B�B3�15.3.2.35E�9-J201 G012UY Page 8 of 17 * .