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2� 1 ��4�44 �on�inue�o pay to Lender�he amount of�he s�parat�ly d�signa�ed paymen�s�hat were due v�rh�n the insurance coverage ceased t��e in effec�. Lender wili a�cept, u�e and retain�hese pa�ments as a non-refundable loss r�ser�e in l�eu of Mor�gage Insurance. Such loss reserve shall be nan-refundable, no�withstanding the fac��ha�the L.nan is u�timately paid �n ful�, and L.�:nder sha�l nat be requ�red to pay �orrower any �n�eres�or�arn�ngs�n such�oss reserve. Lender can na Ianger require loss res�rve pa�m.ents if Mortgage �nsurance co�erag��n�h�amount and far the period�hat Lender r�quires}pro�ided hy an insurer sele�ted by Lender again b�con�.�s a�aitable, �s obta�n�d, and Lender requir�s separat�iy designa�ed payments tav�ard the premiums for Martgage Insurance. �f I�:nder requ�red Mortgage Insuranc�as a cond�tion�f making the Laan and B�rrav�er was requir�d to make separately d�signated paymen�s�ovvard the premiums for Mortgage�nsurance, Bflrraw�r sha�l pay�he premiums required�o maintain Mor�gage �nsurance in effec�, or�o provide a nonwrefundab�e�oss res�r��, un�il I.�nder's requirement far Mor�gage �nsurance ends �n accordance�v�th an� written agreemen�between Borr��ver and Lender pro��ding f�r such te�-mination or until �erm�na�ion is requ�red��Applica��e La�v. Nothing in this Section I�affeG�s Borrower's ob�igation�o pay interes�a��he ra�e�ro�id�d in the Note. Mor�ga��Insurance reimburses L�nder �or any entity that purchases�he N�te} for c�r�a�n�oss�s it�na� incur if Borrower does na�repay the Loa�a as agreed. Sorrower is no�a par�� to the Mor�gag�Insurance. Mor�gage insurers evalua��the�r��al risk on all such �nsurance in force fram time�o t�nne, and ma�en�er �nto a�reem�n�s wi�h ather par�zes�ha� shar�or modif�the�r risk, or redu�e losses. Thes�agreemen�s are�n �erm� and�ondi�ions�ha� are sa��sfac�ary ta the m.or�ga�e insurer and �h�other party �or par�ies} to these agreemen�s. These a�reements ma� require�he mar�gag�insurer�a mak�paymen�s using an�source of funds that the mor�gag��nsurer rna�ha�e ava�iabie �v�h�ch may include funds��tazned fr�m Mortga�e Insurance premiums}. As a result af�hese agreemen�s, Lender, any purchaser of�he Ntite, another insurer, an}� reinsurer, an�ather �nti�y, or any aff��a�e of any�f the fore�ain�, ma� rece�v��direc�l�or indirec��y} am�unts tha�der�ve f�-am �or might be characterized as} a par��on of Barrower's pa�m�n�s for M�r��a�e Insuran�e, �n e�change for sharing ar madify�ng the mor�gage insurer's risk, or reducing losses. �f such a�reement provides t�a�an aff�I�a�e of Lender tak�s a share of�he insurer's risk in exchan�e for a shar�of th�premiums paid to the znsurer, �he arrangement is of�en term�d "captiv�re�nsurance." Fur�h�r: �a} Any such agreements ��il�not affec�the amoun�s�hat Borro«er has agreed tio pay for�Iortgage Insurance, or any o�her terms of�he Loan. Such a�reements �vill no�incr�a�e th�amount Borrower��owe for�Vlor�gage Insurance, and�hey vvill nvt en#.i��e Borrawer to any refund. �b} Any such agreemen�s ►��vill na� affect the righ�s Borrower has-�f any -v�r�th respe�t to fhe Mor�gage Ynsurance under�he Homeowners Pro�ec�ian Ac�of 1998 or any other�avv. The�e righ�s ma��nclude the right to rece��e cer�a�n d�sc�asures, to r�quest and o��ain cance�latian of the Martgage Insuran�e� �o have the Mortgage Insurance termina�ed automatically, andlor to r�ceive a r�fund af any Mor�gage Insurance premiums�ha�were unearned a��he t�me af such can�e��a�ion or�errnina#�an. '1'1. Assignment vf Misce[[anevus Pr�ceeds; Farfe�tur�. All Mis��llaneous Proceeds are her�by assigned�a and shali he pa�d�o L.ender. If the Proper�y �s damaged, such Miscel�aneous Proceeds sha�� be app�ied to res�oration or repair of th� Proper�y, if the restorat�on or r��air is ec�namicali� feas�b�e and Lender's s�curi�y �s no�Iessened. Dur�ng su�h repa�r and r�s�ora�ion p�riad, Lender sha��have the right to haid such N�i�cellaneous Proc�eds un�il �nder has had an oppor�unity �o inspect such Property to ensur�the�ork has�een�ompieted �o Lender's NEBRASKA-5ingle Farnity-�artnie Mael�reddie Mac UNI��RM INSTRUM�NT �vrm 3d�$11�i VMP� VMPfi(NE3{13�2) Walters Kluwer Financia[Ser�ices Pag�9❑f i 7 .�