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2� 1 ��7935 <br /> continue��pay to Lender the amoun�of the separately designated payments�hat were due vvhen�h� <br /> in�urance coverage ceased to be in effec�. Lender wiil �ccep�, use and re�ain these paym�.ents a� a <br /> n�n�refundable loss reserve�n�ieu of Mortgage Insurance. Such�oss r�ser��sha��be non-refundable, <br /> no�wi�hstanding�he fa��that the Laan �s u�tinlately paid in ful�, and Lender sha�I not�e required to pay <br /> Borrov�er any �nterest ar earnings on such�ass res�r�e. Lender can no Ianger requ�re loss reser�e pa�men�s <br /> if Mor�ga�e�nsurance c�verage��n t�ie amount and for�he period that L.�nder requ�r�s}pra��dtd by an <br /> insurer selected by Lender again be�omes available, is �btained, and Lender requ�res s�parat�l�designated <br /> payments�oward the premiums far Mor�gage Insuranc�. �f Lender required M�rtgage�nsurance as a <br /> condition of mak�ng the Loan and B�rrower was required�o make separately designa�ed paymen�s�oward the <br /> premiums for Mortgag� �nsurance, Borr�wer shall pay the prem�ums required�o ma�n�ain Mor�gage <br /> Insurance in effe�t, or to pravide a non-refunda��e Ioss reserve, unt�l L.�nder's requ�rement for M�r�gage <br /> Insurance ends in ac�ordanc�w�th any written agreemen�be�ween Borrower and Lender pro��d�ng fflr such <br /> ��rmination�r until �ermination is required by Appli�able Law. Nothin� in this Sec�ion I�affec�s <br /> Borrower's ob�igat�an�o pay interest a��he ra�e pr��rxded�n the Note. <br /> Mortgage Insurance reirr�burses Lender�or any en�ity�ha�purchases th�No�e� for certa�n�osses i�may�ncur <br /> if Borrower do�s not r�pa��he Loan as agreed. Borrawer is nat a par�y to the Mor�gage�nsurance. <br /> Martgage�nsurers e�alua�e their�ota1 risk on a�� such insurance in force from t�n1e�a�in��, and ma��nter <br /> in�o agreemen�s v�i�h other par�ies that shar�or madif��heir risk, or reduc�losses. Th�se agre�ments are on <br /> �erms and c4nd�tions that are sa��sfa�tor��o�he m�r�gag�insurer and�he other par����r par�ies} �a�hese <br /> a�reemen�s. These agreemen�s may requ�re the�mortga�e�nsurer to rnake payments using any source of funds <br /> that the mortga�e�nsur�r may haue a�aiiable�vvhich ma� �nclud�funds�bta�ned fr�m Mortgage �nsurance <br /> premiums�. <br /> As a resul�af these agreemen�s, L..�nder, any purchaser of the Note, another insurer, any r�insurer, an�o�h�r <br /> en�ity, or an�affil�a�e of an�of���e far�going, may re�e�ve �d�rec�l�r flr ind�re��ly} amoui�ts tha�derive from <br /> �or migh�be charac��rized as} a por�ion af Borro�ver's payments for Mortgage�nsuran�e, in ex�hange fflr <br /> sharing or modifying the mor��a�e insurer's risk, or reduc�n� losses. �f such agreem�nt provid�s�ha�an <br /> aff��iate of Lender takes a share of the insur�r's risk in ex�hang�for a share�f th�prenliums paid�o the <br /> insur�r, the arran��ment is often �ermed "cap�i�e reinsurance." Fur�her: <br /> �a3 Any such agreements����� not affect�he amoun�s tha��3orro��vQr has agreed tv pay for�Vlor�gage <br /> Insurance� or any o�.her terms�f�he Loan. Such agreements w��i n���ncrease the amount <br /> Borrow�r will owe for M�rtgage In�urance, ar�d they wil�not en��tie Borrower to any refund. <br /> t b� Any such agreemen�s vuill no�aff�ct the rights Borr��c�ver has-if any�w��h respec��fl�he <br /> Mortgage Insurance und�r the HomeovWn�rs Pratec��on Ac� vf 1998 or any o�her�aw. These rights <br /> m�ay�nc�ude the right#o r�ceive certa�n disclosuress to request and obtain can�el�a�ion of�he <br /> Mor�gage Insurance, fia have�he Mortgage Insurance t�rmina�ed au�oma���a�ly, andlor to rece�ve <br /> a refund of any IVlartgage Insurance premiums tha� were unearned a��he�inle of 5uch <br /> cancellation or�ermina�ion. <br /> �1. Assi�nment of M�scel�anevus Proceeds; Farfeiture. AI� Misc�llaneous Proceeds are here�y assign�d to <br /> and sha��b�paid to Lender. <br /> �f the Property �s damaged, such Miscellanenus Proceeds sha��be applied to restora�i�n�r repair of the <br /> Prop�r�y, �f the restorat�on or repair�s economica�l�r f�as�ble and I,�nder's securit� xs nat iessened. During <br /> such repair and res�ora�ion per�od, Lender sha�l ha�e�h�ri�h�to hold such Miscellaneaus Proceeds unti� <br /> L.ender has had an opp�r�un�ty to in�p�ct such Proper�y�o ensure�he wark has been comple��d to I�ender's <br /> NESRASKA-5�ngfe Family-Fannie Ma�IFreddie Mac UNI��RM 1N5TRUM�NT �vrm 3D28 i 10'i <br /> VMP� VMPfitN�}{13D23 <br /> Wa[ters Kluwer�inancial 5er�ices Page 9 vf 17 <br />