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2� 1 ��8481 <br /> Insuranc�pre��ously in efFect, a#a cost substantially equi�alent to the cost to Borr�wer of the Mortgage Insurance <br /> pre�iously in effect, from an a�ternate mortgage insurer selected by Lender. �f substantially equi�alent Mortgage <br /> Insurance co�erag�is not availa�le, Borrower shall continue tn pay tfl Lender the arnount of�he separately designated <br /> payments tha�were due when the insurance c��erage ceased to be in effec�. Lender will accept, use and retain these <br /> payments as a non-refundable lass reser�e in lieu of Mortgage Insurance, Such lass reser�e sha11 be non-refundable, <br /> notwithstanding the fact that the Laan is ui�imately paid�n full, and Lender shall not be required to pay Borrflwer any <br /> interest or earnings on such loss reser�e. Lender can na longer require�oss reser�e payments if Mortgage Insurance <br /> cov�rage�in the amount and for the period that Lender re�uires}pr�vided �y an insurer selected by Lender again <br /> becames a�ailable, is obtained, and Lender re�uires separately d�signated paym�nts toward the premiums for <br /> Mortgage Insurance. If Lender re�uired Mortgage Insurance as a condition of making the Loan and Borrower vvas <br /> r��uired#a make separate�y designated payments toward the premiums far Mortgage Insurance, Borrower shall pay <br /> the premiums required to main�ain Mortgage�nsurance in effect, or to pro�ide a nvn-refundab�e lass reser�e, UI7t1� <br /> Lender's requirement for Mortgage Insurance e�ds in accordance vWith any vWr�tten agreement between Bvrrower and <br /> Lender pro�iding f�r such terminatian or until term�natior�is required by Applicable Law. Nothing in this Section <br /> I�affects Borrower's obligation to pay interest a�the rate pr��ided �n the Na�e. <br /> Mortgage �nsurance reimburses Lender �or any entity that purchases the Note}far certain losses it may incur <br /> if Borr�we�does not r�pay the Laan as agreed. Borrower is no�a party to the Mortgage Insurance. <br /> Mortgage insurer�e�aluate the�r tatal risk an all such insurance in force firom time to time, and may enter inta <br /> agreements with other parties that share or modify th�ir risk, or reduce losses. These agreemen�s are on terms and <br /> conditions that are satisfac�ary t�the martgage insurer and#he�ther party (or parties}to these agreemen�s. T�iese <br /> agreements may requ�re the mortgage insurer to make payments using any source of funds�ha�the mnrtgage insurer <br /> ma�have a�ailable�which rnay include funds obtained fram M�rtgage Insurance premiums}. <br /> As a result of these agreemen#s, Lender, any purchaser of the Nflte, another insurer, any reinsurer, any other <br /> entity, or any aff liate of any of�he faregoing, may recei�e�direct�y or indirec�Iy}amoun�s that deri�e from�ar might <br /> be characterized as}a portion of Borrower's payments for Mortgage�nsurance, in exchange for sharing or modifying <br /> �he mortgage insurer's risk, or redu�ing losses, If such agreement pra�ides that an affi�iate of Lender takes a shar� <br /> of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement�s often termed <br /> "capti�e reinsurance." Further: <br /> �a} Any such agreements will not affect the amounts that Bflrrower has �greed to pay for Mortgage <br /> Insurance, or any o#her terms of#he L�an. Such agreements will not increase the amount Borrower wili awe <br /> for Mortgage Insurance, and they will not enEiti�Borrower to any refund. <br /> (b} Any such agreements will not affect the rights Borrower ha5 � if any-with respect t�the Mortgage <br /> Insuran�e under the Homeowners ProtecEion A�t of 1998 or any other law. These rights may in�tude#he right <br /> to recei�e cer-tain dis�iosures, �o reques� and obtain cancellation of the Mortgag� Insurance, to ha�e the <br /> Mortgage Insurance terminated automaticaliy, andlor to re�ei�e a refund of any Mor-�gage Insurance premiums <br /> �hat were unearned at the time af such cancella�ion ar terminatiaa. <br /> 11. ASsignment�f M�scellaneous Proceeds;Forfeiture. AII Miscellaneous Praceeds are hereby assigned t� <br /> and shall be paid to Lender. <br /> If the Property is damaged,such Miscellaneous Praceeds shall be applied to restoratian or repair of the Property, <br /> if the restoration or repair is econamica�ly feasible and Lender's security is nnt Iessened. Dur�ng such repair and <br /> restoration period, Lender shall ha�e the right to hold such Miscellane�us Proceeds until Lender has had an <br /> opportunity to inspect such Property to ensure the work has been completed to Lender's sa�isfaction, pro�ided that <br /> such inspection shal�be undertaken pramptly. Lender rnay pay for the repairs and restoratian in a single disbursemen� <br /> ar in a series af progress payments as the worl�is c�mp�eted. Unless an agreement is made in writing or Applica�le <br /> Law requires interest to be paid on such Misc�llaneous Proceeds, Lender shall not be required to pay Borrawer any <br /> interest or earnings on such Miscellaneaus Froceeds. If the restoration or repair is nat ecanamically feasible or <br /> Lender's security wautd be lessened,the Misc���aneous Prnceeds shall be appiied to the sums secured by this Secur�ty <br /> Instrument, whether or not then due, wi�h the excess, if any, paid tn Borrower. Such Mis��Ilaneous Prflceeds shall <br /> be applied in the order pr4vided for in Sectian 2. <br /> NEBRASKA--Singie Famify--Fannie MaelFreddie Mac UNIF�RM INSTRUMENT- MERS t]ocA�l��Ic <br /> Form 3��8 �IQ 1 Page 8 of 15 www.docmagic.corn <br /> . <br /> � <br />