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2� 1 ��� 12� <br /> c�n�inue to pay to L.�nder�h�amaun�of�he separate��des�gnated paymen�s�ha�vvere due when�he <br /> insurance ca��rage ceased to b��n effect. Lender vviii accept, use and reta�n these payments as a <br /> n�n�refundable loss reserve�n lieu of Mortgag�Insurance. Such Ioss reserve sha�� be n�n-refundable, <br /> n�twi�hs�and�ng the fact tha�the L.�an�s ultimately pa�d in fu��, and Lender sha�I n�t be r�quired to pay <br /> Borrower any in��res�ar�arn�ngs on such loss reser�e. Lender can n� ��nger requ�re loss res�r�e payments <br /> �f Mor�gage Insurance co�rerage�in�he amoun�and for the per�od that Lender r�quires}provided by an <br /> insurer se�ected by Lender again becomes a�ai�ab�e, �s obtained, and Lend�r requ�res separa���y designated <br /> payments toward�he premiums for Martgage Insurance. �f Lender required Mor�gage Insurance as a <br /> c�ndition of mak�ng�he Loan and Borr�v�rer was required to make separate�y des�gna�ed payments�nward the <br /> pr�m�ums for Mor�gage �nsuranc�, Borrov�rer sha��pa��he prem�ums r�quired to maintain Mort�age <br /> �nsurance in effect, ar��pro��de a nan�refundabie loss reser�e, unti� L,�nder's requirement for Mortgage <br /> Insurance ends �n accordance v�ri�h an�wr�tten agre�ment between Borrav�er and Lender pro�iding for su�h <br /> �ermunation or un�il�erm�natzon�s requ�red by Appl�cab�e Law. Noth�ng �n this Section 1 a affec�s � <br /> Barrower's obl��a�ion to pay �n�eres�at th�rate pro��ded in the No��. <br /> N�ort�age Insurance reimburses Lend�r�ar any entity tha�purchases �he N�te� for cer�a�n�asses it may incur � <br /> if Borrov�rer does na�repay the L.nan a� a�reed. Borro�er is not a par�y t�the Mortgage�nsuranc�. <br /> Mor�gage�nsurers evaluate the�r to�al risk an alI su�h insurance in f�rce from.�ime to time, and may ent�r <br /> into a�reem�nts v�i�h flth�r parties tha�share�r modify their r�sk, ar r�du�e losses. These a�reemen�s are on <br /> ��rms and condztians that are satisfactory�o�he mor�gage insurer and the flther party �or par��es� to these � <br /> agreen��nts. Thes�a�reemen�s ma� require the mar�gage insurer to mak�paym�nts using an� source of funds <br /> t��at the mortgage insurer ma�ha�e available�vvhich ma� inciude funds abtain�d frflm Mortgage�nsurance <br /> premiums�. <br /> As a r��u�t af these agreements, Lender, any purchas�r af the No�e, another insurer, any re�nsur�r, an�other <br /> en�ity, or any affil�a�e of an�of the i�regoing, may recex�re �dire�t�y or i��d�r�ct�y� am.�unts that d�ri�e fram <br /> �or m�ght be charac��riz�d as} a por�ion of Borrov�er's payments for Niortgage �nsuranc�, �n exchan�e��ar <br /> sharing or m�dif�ing the mor�gage insurer's risk, or r�ducing loss�s. If suc�agr�ement pro��ides�hat an <br /> aff��iate of Lender�akes a share of the insur�r's r�sk in exchange for a share of the premiums paid �o the <br /> insurer, the arrangemen� �s�ften termed "cap��v�r��nsurance," Further: <br /> �a� Any such agreemen�s��vi��na�affec��h�amaunts�hat Borrower has agreed to pay for Mortgage <br /> Insurance, or any o�her terms of the Loan, Such agreen�ents«��I�no� increase�he amaun� <br /> Barr�wer w�i� owe far Mor�gage Insurance, and�hey �c�vi�l no�enti��e I3orrovwer to any refund. <br /> �b� Any such a�;reemen�s wiii no�affe�t th�rights B�rrawer has-�f an� -wi�h respect ta �he <br /> IVlortgage Insurance under�he Homeowners Profec�ion Act of 1998 or any o�her�aw. These rights <br /> may include�he r�ght �o rec�i�ve cer�ain disc�asures, to reques�and ob�ain cancellation of�he _ <br /> Mor�gage Insurance, to ha�e the Mor�gage Insurance termina�ed autama��cal�y, andlor�v recei�e � <br /> a refund of any�I�Ior�gage Insuranee premiums�hat were unearned a�the time af such <br /> cancellation or terminati�n. <br /> �'1. Assignment af Misce��aneous Pro�eeds: Fvrfeiture, All M�scel�ane�us Pr�ceeds are hereby assigned to <br /> and shal�be paid t� Lender. <br /> If th� Proper�y is damaged, such Misceilaneous Proceeds sha��be applied�o rest�rat�an or repa�r�f the <br /> Praper�y, �f the restora�ion or repa�r is econ�mically feasible and L�nder's securit�r is n�� �essened. IJur�n� <br /> su�h repair and res�oration period, Lender sha�l have th�rig��to hold su�h M�s��ilaneous Proceeds unti� <br /> Lender has had an�ppor�un�ty to inspect such Proper�y to ensure the vvark has b�en completed to I,ender's <br /> N�BRASKA-5ingle�amily-�annie MaelFreddie Mac UNI��RM lNSTRUMENT Farm 3028 11d1 <br /> VMP� VMPCZNEy{'�30Z= <br /> Walters Kluwer Finan�ial S�r�iC�s Page 9 of�7 <br />