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201606939
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Last modified
7/24/2017 4:01:39 PM
Creation date
10/18/2016 1:42:35 PM
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201606939
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2� 1 ���939 <br /> . <br /> Insuz-ance pre�iously in effect, at a cost sul�stan�i�lly equiwalex�t to the cost �❑ �3orro�ver of the Mor�ga�e Ins��rat�ct� <br /> pI-�vious�y i1� effect, from an alte�•��a�e i��o�tgage insL�l-er selected by Lcnde�•. Zf sub�tc���tial�y ec�«i�ale�at Moi-tgagG <br /> Ii�surarlce coverage is nat a�ailable, Borrower sha��coz�ti��u�to pay to Lender�he amount of t�-�e s�pa�•�t�ly desi�nated <br /> payrnents that were due when t1�� �nsuz-anc�co�erage ceased�o be in effec�. ��ender will accept, use and retain�hes� <br /> payments as a non-refundable Ioss reser�e�n�ieu af Mor�gage Insurance. 5��ch lass re�er��sh�ll be�-��i�-�-�f'undablc;, <br /> notwi���standing �he fact�l��C�he Loan is ultimateiy paid i�-�f�ill, aild Lender shall 11ot lle z•e��zired tn pay�3orr�w��-az�y <br /> interest or ea�nings on such Ioss reser�e. Lendei-can no Ianger r�quire lass rese�•ve paym�nts if Mortga�;e Z�7surance <br /> co�erage�in the am�unt and for the period tl7at Lende�• ��equires} provided by aX7 �nsurer selected by Let�der again <br />. becames a�ailab�e, �s abtained, and Lender rec�uit•es sepa�•ately d�sigz�ated payments toward the premiu�7�s fo�� <br /> Martgage�nsurance. If Lender required Mortgagc InsuY•a�7ce as a cQndit�o�� of mak��-�g the Loa�� and Borrawer was <br /> required t� ma�ce separat�ly designated payrnez�ts to�ward tl�e premiums for Mat-�gage �nsurance, �3c��-�-ower�hall pay <br /> t1�e pret��iums required to ma�ntain Mo�•t�age Insu��ance ii1 cffect, oi- ta p�-n�ide � i�oi�-refuildabl� lo�s rese�•�e, L1t7�1� <br /> Le��der's rec�uirem���t for Mortga�;e I��surance e��ds in ac�ox•da�7ce wit�� az�y writlez�agr��l��e��1 betw�c���3ar�-ower-a��cl <br /> Lender pro�iding far su�h t�rminatioil or until te�-i�-�i����ion i� re�uired by �ppl icah�e I�aw. Not��in� i�� �l�is S�ctio�� <br /> I�affects Barra�ve�'s abligat�on to pay �1-�terest at the rate provided in the Na��. <br /> Martgage Insuran�e reimburses Lende�- �01- ar�y e��t��y �hat purchases the Note} far ccrtaii7 lass�s i� may incur <br /> if Borrower does nat rep�y the Loat� as agreed. Bor-r•owe�- is i�ot a par�y t❑ the Mo�-tgage Insura���e. <br />; Mor�gage insurers eva�ua�e their total rislc o��all such insurance in force from time to ti�-��e, and n7ay ent�r into <br /> agreements witl� other-partres that shaz�e or madify thcir r-isl�, or red�.rce losses. r���se agr�ei��ents are�n tez•ms an�.� <br /> condition�that are sat�sfactary t� the martgage ii�surer a��d �he othcr p�rty �or part�es� to these a�t•eelncnts. 11-�ese <br /> agreements may require the mortgage insurer to n�al�e p�yments using �ny saurce of fund� that thc Xnortga�e�nsurer <br />� may ha�e availab�e�which rnay include funds obtained fi om Mo��tga�;e I17sLii-ance pr�7niums}. <br /> A.s a resu��of thes� agreen�e�-�ts, Lend��, any purcha�er af`the Note, anothex insurer, a��y r��1��i��-cr, any othcr <br /> entrty, �r���y affitia�e of a�-�y af th�fflrcgoing, �71ay z�ecei���di�-ec�ly or i��dire�tly}a���a�.�nts�l�at e�e�,ive from�oz-mi�h� <br /> be charaGterized as}a pn�-tian of�3az•�-ower's paymei7ts fa��Mortgage Insurar7ce, in exchange f�or sl�a.rii�g or inod�fyin� <br /> the martgage insurer's risl�, ar reducing losses. If such agreemen�p��ovides th�t�a��affiliate of Lender tak�s a sh�re <br /> of the ii-�surer's ris�� in ex�hange for a sh�re of the prcnliut��s paid to the �nsur��-, the arrat��;�n�et�t is flftci� termcc�� <br /> "captive reinsurance." Furthez-; <br /> �a} Any su�h agreemcrsts r�vill not affcct the amaunts that �3orrovver has agrcec� tf� pay for 1Vlortgage <br /> Ynsurance, ar any ather#errns of�h�Loan. Such agreements wi11 not�ncrease the amount ��orrowcr will or►rvc� <br /> for Mortgage Ynsurancc, and�hey wil� not entitl���orrov�cr ta any refund. <br /> �b} Any such agreements will not affect#:he rights Lorrower has - �f any - r�vi�h respect to thc IVtor�:gag� <br /> Xn�urance under the Hamcov�vncr� �'ratcction �1,c�of I99g nr any other Ia�v. r��hc�c rxghts may in�iudc#:he right <br /> �v re�eive certa�n di�closures, to requcst and o�tain cancclla��c��� cff thc Mortgagc �nsur�nce, tt� ha�e t�c <br /> Mor#:gage�nsurancc#:crmina�:c�a�x#omatically, andl[fr t��re�ci�c a r�fund t�f any Mortgagc Xrnsr�rancc prcmium� <br /> thaf:were uncarned ati thc tirnc c�f such cancc�lla#:ion t�r tcrmina#:�on. <br /> I�. Assignment vf Miscellanco�s �rocccds; �+'orf�i�:urc. Al� Miscellancous �'r�ceeds��r-���ereby a�signcd to <br /> and shalJ be paid ta Lender. <br /> If the Property is damaged, such Mlsce�laneous Proceeds shall be app��ed to��estoration or repaiz�of�he�'z•apet�ty, <br /> if the res�nra�ion ❑r repair is economically feasiUle a��d Lcnder's security is not lessened. Duz�ing �uch ��epair�nd <br /> resto�atior� per�od, Lender shall ha�e �he right tfl hold such Misce��aneous �'roGeeds u��ti] Lender l�as had an <br /> apportunity to inspect su�h Praperty to ensure �he vvorlc has been comple�ed ta Lender's satisfac�i�n, p��a�ided th�t <br /> such znspectio�l shal�be u��dertaken pr-omptly. Le��der may pay for tl�e r�paix•s ai�d restoratioi�in a sin�;le dis�uz-se�ncnt <br /> or in a series of prag��ess paymen�s as�he worl{is completed. Unless an agt-eemc��t is rnad�ii�writing or Applicable <br /> Law 2-equires ii�ter�s��o be paid o�-�such Miscellaneo��s I'r-oceeds, Lc��dcr• shall nat be r�c���ired t� pay �3orrawez��17y <br /> znterest or earnings on sucl-� Miscel�an�oLts �'roceeds. If�l�c res�oz-atio�� o�• rcpai�- is z�ot ccoz�amically f�asible o�� <br /> Lender's security wouid be Iessened, tl�e Miscellaneaus�'rocc:eds shall b�appli�d to the s�i1-�7s sc�ured vy this Sec�z�-ity <br /> Instru��7ent, w��etl�er o��not then du�, with the excess, iF az�y, p�id to l�orrow�r. 5u�h Miscella��eous 1'race;ed�shall <br /> be applied �n the arder pro�ided for in Section 2. <br /> NEBRASKA--Sing�� Family--Fannie MaelFredd�e Mac �NIF�F�M INST�UMENT - ME�S ar�cMagic��a�� <br /> Farm 3��8 1101 Page 8 of �5 www.doem�gic�.com <br /> � r �� � <br /> e <br /> � I� �� � r� � <br />
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