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2� 1 ��54�5 <br /> con�inue to pay�o Lender the am�un�af�h�separate�y des�gna�ed payments that vvere�ue�vhen�he <br /> insurance coverage Ceased to be in effect. Lender vvi�1 accept, use and re�ain�hese pa}�ments as a <br /> non-refundable�oss reserve�n l�eu of Mortgage Insura.nce. �uch Io�s rese�-ve sha��be non-refundable, � <br /> notwi�hstanding the fac��hat the Loan is ultima�e�y paid in fu11, and L�nder sha�i not be required�a pay � <br /> Sorrower any �n��res�or�arn�ngs on such loss reserve, Lender can no longer requ�re Ioss reserve payments <br /> if N�or�gag��nsurance�o�erage ��n the amount and f�r the period that I.ender r�qu�res}pro�ided by an <br /> insur�r selected by Lender again becom�s ava�lab��, is obtained, and Lender r�quir�s separately des�gnated <br /> pa�m�r�ts�oward�he prem�ums f�r Mortgag�Insurance. �f Lender r�quired Mor�gage Insurance as a <br /> cond��ion of making the Loan and Borrower�as required tfl�mak�s�para��ly designated paym�nts tovvard�he <br /> prenuums f�r Mor�gage�nsurance, Borrower shall pay the prem�ums required to mainta�n N�or�gage <br /> Insuran�e in effect, or to pro�ide a non-refundable�oss re�er�e, unti� Lender's r�quir�ment for Mortgage <br /> �nsurance ends in accordance with any written agreement betv�re�n Borr�wer and Lender pro�viding far such <br /> termination or unti� �ermina��on is required�y Appl��able Law. No�hing in�his Sectifln ��affects <br /> Borro�rer's ob�iga�ion t�pay in�erest at the rate pro�ided in th�No�e. <br /> Mortgage Insurance reim�urses Lender�or any entity�ha��urchases �he Not�} for certain l�sses it ma� inGur <br /> if Borrower does no�repay the Loan as agreed. Borrower �s nat a par�y to th� N�or��a���nsuranc�. <br /> Martgag��nsurers eva�uate�heir tota� r�sk�n a�I such insurance�n f�rc�fr�m tim.e to�i�rne, and may enter <br /> into agreemen�s with o�her parties that share or mad�f�r�heir risk, flr reduce l�sses. These agreements are nn <br /> terms and cond iti�ns tha�ar�sa��sfac�ory�o �he rr�or�ga�e insurer and the��her party ��r par�ies} �o these <br /> a�r��ments. Thes�agr�ements ma�requ�re�he mar�gage insurer to mak�pa��r�.en�s us�ng any source of funds <br /> �ha��he mortgage insu�rer nlay ha�e avaiiable�v��hich may in�lude funds ob�ained from Mortgage Insuran�e <br /> premiums}. <br /> As a resu�t�f�hese agreements, Lender, any purchaser�f the Note, ano�h�r insurer, any r�insurer, any oth�r <br /> entity, or any aff���ate of an�of�he foregoing, may rec�i�e tdirec�ly or indirec�Iy} amounts �ha�derive from <br /> �flr m��ht be chara�teriz�d as} a por�ion of B�rrower's paymen�s for Mar�gage �nsuranc�, in exchang�far <br /> sharing or m�difying the mor�gage insurer's r�sk, or reducing�osses. If such agreemen�provides�ha� an <br /> affilia�e flf I,ender takes a shar��f�he insurer's r�sk in exchange far a share of�he premiums paid t��he <br /> insurer, the arrangement is often termed "capti�e reinsuranc�." Further: <br /> �a} Any such agreements wi��not affec�fhe amounts�ha�Borrv«�er��as agreed t�pay for Mor�gage <br /> Insurance, or any o�her#erms�f the Loan. Such agreem�n#s wii�not increase the amoun� � <br /> Sorro����r���iII owe for Mortgage Insurance, and�hey��v���no�en���le Borrower to any refund. <br /> �h} Any such agreenr�en�s���xi�not affec�the righ�s Borrav��er has-if any�w�th respec��o�he <br /> IVlortgage Insurance under�he Homeo►��vners Prat�c�ion Act af 1995 or any o�her law. These righ�s <br /> may inciude the right�o re�ei�e cer�a�n d�scIosures, �o ret�uest and obtain cancella�ian�f�he � <br /> Ni�r�gage Insuran�e, �o ha�ve�he Mor�gage Insurance terminated automaticaliy, andlor to recexve <br /> a refund af any Mortgage Insurance premiums�ha�.were unearned a�the��me of such <br /> �an�e�la�ion or�erm�nation. <br /> 1"i. Assignment af �Iliscel�aneaus Pr��eeds; Farfeit�re. AI� N��sce�laneous Proc�eds are hereb� assigned t� <br /> and shai��e paid to �...�nder. <br /> �f the Pr�per�y is damaged, such M�sce�lan�ous Proceeds sha�i be applied to res�ora�ion or repair of th� <br /> Pr�per��, if th�restoration or repair is ec�nom�cal�y f�as��i�and Lend�r's securi�y �s nat le�sened. During <br /> such r�pair and rest�ra�i�n per�od, Lender shall have�he r�gh�to hold such M�s�el�aneous Proceeds until <br /> Lender has had an appor�un�ty to inspec�such Prflper�y to ensure the vv�rk has been comple�ed�o Lender's <br /> N�BRASKA-Sing�s�amily-Fannie MaelFreddie Mac l�N1FaRM INSTRUM�NT Form 3��8 110� <br /> VMP 0 VMPfitN�y�i 3��� <br /> Wvlters Kluwer Financial Ser�ices Page 9 of i 7 <br />