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2� 1 ��5215 <br /> c�n��nu�to pay t� I.�nder the amoun�of the separa�ely designated pa�ments �hat were du�when�he <br /> �nsurance co�erage ceased to be in�ffect. Lender w�l� accep�, use and retain these gaymen�s as a <br /> non-refundable loss reserve in�zeu af N�or�gage �nsuran�e. Such��ss res�rve shall b�n�n�refundabie, <br /> no�w��hs�anding�he fact tha�the Laan�s ult�ma�eiy paid in fu�l, and Lend�r sha��no�be requir�d �o pay <br /> Borr�wer any in�erest or earnings on such�oss resez�re. Lender can no �onger requzr�l�ss reserve payments <br /> if Mor�gage �nsurance co�erage�in�he amount and far th�period that Lender requires} pro�vi�ed by an <br /> �nsurer seiected by Lender aga�n�e�omes a�ailable, is ohtained, and Lender r�qu�res separa�e�y d�s�gna�ed <br /> payments to�rard the premiums for Martgage Insuranc�. �f Llender required Mortgage Insurance as a <br /> condi���n�f mak�ng the Loan and Borrower was required�o make separate�y des�gnated pa�ments t�ward the <br /> premiums far Martgage�nsurance, Barrower shaii pa�th�premiums required to mazn�ain Mort�a�e <br /> �nsurance in effect, or�o pra�id�a non-refundab�e�oss res�rve, un�il Lend�r's requirement for N�or�gage <br /> �nsuran�e ends in acc�rdance w��h an� v�r�tten agreemen�b��v�reen Borrov�rer and Lend�r praviding for such <br /> �ermination or untii term�ination is r�quired by Applicab�e Lav�. Noth�n� in�his Sect�an ��affects <br /> Borrower's obiigatio���o pay interest at the rate provided in�h�Note. <br /> Mortgage Insurance r�im�urse� L�nder�ar any entit� �ha�purchases the No�e} for cer�ain losses ��may incur <br /> if B�rrov�rer does not repay �he L�an as agreed, Borrower is nat a party to�he Mor�gage Insurance. <br /> Mortga�e�nsurers e�alua�e#h�ir tntal ris�an all such insuran�e�n force from�ime��time, and may en�er <br /> �n�o agreem,ents�i�h a�h�r parties�ha� share ar mad�f� their ris�, or redu���osses. Th�s�a�r�em�nts are on <br /> �erms and conditions that are satisfactary�o the�mar�ga�e�nsurer and the o�her par�y �ar partie�} �Q �h�se <br /> a�r�emen�s. Thes�a�reemen�s may require the mor�gage�nsurer�� make pa�men�s using an}� source of funds <br /> that the mort�a�c insurer ma�have a�aila�le�which ma� inc�ude funds��tain�d from Mortgage�nsuranc� <br /> premiums�. <br /> As a resuit af thes�agreemen�s, I.ender, an�purchaser of the Note, ano�her insurer, any reinsurer, any other <br /> ent�ty, or any aff���ate of any af�he foregoin�, ma� re�e��re�direc�iy or�ndirectly} amoun�s tha�deriv�from <br /> �or mi�ht be eharac�erized as} a p�rtion of Borrower's paymen�s for Mor�ga�e �nsurance, in e�change for <br /> �har�ng�r mod�f�ing the m�r��ag� insurer's risk, or redu��ng l�sses. �f such a�reement prov�des �ha�an <br /> a�f�liat�of L�nd�r�akes a share of th�insurer's r�sk in exchange for a share�f�h�premiums pa�d to�he <br /> insurer, �he arrangement is often��rmed "cap�ive rein�uran�e." Further: <br /> �a� Any�uch agr�emen�s ���i��no� affec�#he amounts�ha� Borrv►��ver has agreed to pay for Mortgage <br /> Insurance, or any o�her terms of the Loan. Such agreemen�s ��v�X� no��ncreas�the amQun� <br /> Borrower wi��o��ve for�Vlor�gage In�urance, and fhey «���� not enti#�e Borrower to an�refund. <br /> �b} Any such agr�emen�s��vil�no�affect the righ�s Borro��ver has -�f any- �vith respect ta the <br /> Mor�gage Insurance under the Homeowners Pro�ection Ac�of 1998 or any�ther iaw. These righ�s <br /> may�nclude�he righ��o rec�iv�cer�a�n di�closures, �.o reques�and obtain can�elia�ion of the <br /> �Vlor�gage Insurances ta ha�e the Mortgage Insurance�ermina�ed automat�ca�Iy, andlQr�o receive <br /> a refund of any Mort�age Insurance prenr�iun�s tha� wer�unearned a�.the t�me of such <br /> canceila�ion or terminati�n. <br /> ��. Assignment of Misce[[aneaus Praceeds; Forfeitu�e. A�1 M�s����aneous Proceeds are hereby ass�gned�a <br /> and shal�be paid to L.�nder. <br /> If�he Prop�r�y �s dama�ed, such Miscel�ane�us Pro�eeds shal�be applied�o r�stora�ion or repair of�he <br /> Property, if�he restoration or repair is economicall� feasibl�and�nd�r's s�curity is not lessened. During <br /> such r�pair and restoration period, Lender shal� hawe the right to ho�d such Misce�laneous Proceeds until <br /> Lender has had an oppor�unity to insp�ct such Proper�y tfl ensure�he work has b�en�omp�e�ed to Lender's <br /> N�BRASKA-Single��mily-�annie M�el�reddie Ma�t!Nl��RM INSTRUM�NT Form 3028�101 <br /> VMP Q VMPG�N�Z�i 3�2) <br /> Woiters K[�wer�inancial Ser�ices Page 9 of 17 <br />