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, 2� 1 ��4815 , Insurance previausly in effect, at a cost subs�antially equivalen� to the cast ta Borrower of the Mortgage Insurance pre��nusly in effect, fram an al�ernate m�rtgage insurer se�ected by Lender. If substantially equi�alent Mortgage Insurance co�erage is not avai�able, Borrower shall cantinu�ta pay ta L�nder the amount of the separateiy des�gnated paymen�s that were due when�he insurance coverage ceased to be in effect. Lender will accept, use and reta�n these payments as a non-refundable lass reserve in lieu of Martgage Insuran�e. Such loss reserve shall be non--refunda�le, na�vvithstand�ng the fact�hat the Loan is ul�imatel�r paid in ful�, and Lender shatl nQt be required to pay Borrower any interes�or earnings an such Ioss reser�e. Lender can no longer requ�re�oss reserve payments if Mortgage Insurance co�erage�in�he amount and for the period�hat Lender requires�pravided by an insurer selected by Lender again becornes aWa�lable, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage�nsurance. If Lender requ�red Mortgage�nsurance as a condition of making the Laan and Borrower was required to make separately des�gnated payments toward the premiums for Mvr�gage Insurance, Borrower shal�pay the premiums required ta maintain Mor�ga�e Insurance in effect, or to pro�ide a nan-refundabie�ass reser�e, unti� Lender's requirement for Mortgage Insurance ends in accordance with any wri�ten agreement between Borrower and : Lender prov�ding for such termznatian ar until term�natior�is requ�red by App�ica�le Law. Nvthing in�his Sect�an 1�affects Borro�wer's ob�igation to pay interest at the rat�prvvided in the Note. , Mortgage Insurance r�imburses L�nder�or any en�ity that purchases the Nate}for certa�n�osses ��may incur if Borrower does not repay the Lvan as agreed. Borrawer is not a party to the Mortgage Insurance. Martgage insurers evaivate their�o�a�risk on a�l such insurance in force from time to time, and may enter in�o agreements with other parties that share or modify their r�sk, �r reduce losses. These agreements are on term�and condi�ions tha�are sa�isfactory to�he mortgage insurer and the other party�or parties�to�hese agreemen�s. These agreements may require�he mortgage�nsurer ta make payrnents using any source of funds tha��he mortgage insurer - may have a�ailable�which may include funds obtained fram Martgage Insurance prerniums�. As a result�f these agreements, Lender, any purchaser af�he Note, another insurer, any rein�urer, any ather entity, ar any affil�a�e of any of the faregoing, may receive�directly ar�ndirectly}amounts that deri�e fr�m�or might be characterized as}a portron af Borrower's payments far Mortgag�Insurance, �n exchange for sharing or mod�fying : the mortgage insurer's ris�, or reduc�ng lasses. If such agreement prav�des that an aff l�ate of Lender ta�es a share , of the �nsurer's risk in exchange for a share of the.prerniums paid to the insurer, the arrangemen�is often termed "captive reinsurance." Furth�r: �a} Any such agreements will no� affect the amounts that Borrawer has agreed to pay for Mortgage Insuran�e, nr any other terms af the Loan. Su�h agree�nents will not increase the amount Barrower will owe far Martgage Insurance, and they will nat entitle Borrower ta any refund. �b} Any such agreements will n�t affect the rights Borrower has -if any�with respe�t to�he Mor�gage Insurance under the Homeowners Protection Act af 1998 or any vther law. These rights may inc�ude the right � to receiv� eertain disC�asures, to request and abtain �an�ellation of the Mortgage Insurance, to have the Mortgage Insurance terminated autamatiea�iy, andlor to receive a refund vf any Martgage Insurance premiums that were unearned at the time af such can�ei�at�an or term�nation. 11. Assignmen�of M�scellanenus Proceed5;Fvrfeiture. All Miscellaneous Proceeds are hereby assigned�a and shall be paid to Lender. �f the Property is damaged,such Miscellaneous Proceeds sha11 be applied to restoration or repair of the Prnperty, �f the restoration or repair is economi�al iy feas�b�e and Lender's security is not Iess�ned. During such repair and restoration per�ad, Lender shall have the r�ght to hold such Miscellan�aus Praceeds until Lender has had an opportunity t�inspect such Property ta ensure the work has been completed ta Lender's sa�isfaction, prav�ded that such inspectian shall be undertaken promp��y. Lender may pay for the repairs and res�oratian in a sing�e disbursement or in a ser�es flf pragress paym�nts as the wark is cornpleted. Unless an agreement is made�n writ�ng or Appiicable Law requzres�nterest to he pa�d on such Miscelianeous Proceeds, Lender shall nat be required to pay B�rrawer any interest or earn�ngs on such Miscellaneous Praceeds. �f�he restoration or repa�r is no� ecanomically feasible ar Lender's security would be Iessened,the M��cellaneous Praeeeds sha�l be applied�o the sums secured by this Securi�y �nstrument, whether or not then due, with the excess, if any, pa�d to Borrower. Such Misce�laneous Proceeds shall be appiied in the order provided far in Section Z. 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