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2� 1 ��8484 designat�d paymen�s toward #he premiums for Mvr�gage Insurance, Borrawer shaii pay the premiums required to obtain co�erage substan�ially equi�alent �o�the Mar�gage �nsurance p�e�iausly in �fFect, a� a cost substan�ially equi�a{ent to the c�st�o Borrower o�the M�rkgage Insurance pre�i�usly in effec�, from an alternate mortgag� insur�r seiected by Lender. If subs�antially �qui�alent M�rt�age Insurance �o�erage is nof a�ailable, Borrfl�nrer shall canfiinue to pay ta Lender the amount o� �he separateiy designated payments tha� were due when fhe �nsurance co�erage ceased to be in effec�. Lender wil! a�cept, use and retain these payments as a non-re�'undable loss reserve �n [ieu of Mo�tgage Insuranc�. Such �oss reserve shal� �e non-refundable, n�twithstanding the fa�t�ha#the Loan is ukfimat��y paid in�uil, and Lender sha�! nat be required fo pay Borrower any interest or earnings on such lass reserve. Lender can n❑ �ong�� require Itiss reserve payments if Mar�gage �nsurance co�erage �in the am�unt and for the per�od �hat Lender requires} pra�ided by an insurer sefec�ed by Lender again �ecomes a�aiiab�e, is vbtained, and Lender requires s�parat�[y designa�ed payments toward the pr�miums for Ma�tgage lnsurance. If Lender required M�rtgage Insuranc� as a conditian o�making �he Loan and 8orrower was required to make separateiy designa�ed payments toward the premiums far Ma�tgage lnsurance, Sarrower sha�l pay fihe premiums requir�d �a mainta�n Mor�ga�e �nsurance in eff�ct, �r to provide a non-�re�undable loss reserve, unt�l Lender's requirement fo�Martgag� �nsurance �nds �n accardance wi�h any written ag�-e�ment between Borrawe�and Lender pr�vid�ng��r su�h terminatian �r un�ii termina�ion �s required by Applicab�� Law. Nothing in this Sectlon 14 aff�cts Borrower's obligation to pay in�e�est at the ra�� pro��ded in the N�te. Mar�gag� �nsurance reimburses Lender�ar any entity tha�purchases the No�e}fvr ce�ain ivsses it may in�ur if 6orrow�r does nat r�pay the Laan as agreed. Borrawe� is not a party to the Mo�tgage � Insurance. M�r�gage �nsurers e�a�ua�e their t��a1 r�sk on a�l su�h insu�ance in for�e from time �� time, and may enter into agre�men#s w��h ather par�ies that share �r modify �h�ir risk, ar reduce �asses. These agreements are on �erms and conditinns that are sat�sfactory to�he mortgage �nsurer and th� o�her par�y �o� parties} fo these agreements. These agreemen#s may re�uir� the morkgage insur�r ta make payments using any source o��unds �ha� fihe mo�gage insure� may have a�ailabl� �which may �nclude �unds ob�ained��om Mo�tga�e �nsurance pt�em�ums}. � As a resu�t of these ag�-eemen�s, Lender, any �urchas�r af �h� Note, anathe� insurer, any re�nsurer, any other entity, ar any affiliate of any af the for�going, may recei�e �di�ectfy or indirectly} amounts tha� deri�e from �ar migh� be charac�eriz�d as} a partion of Barro�ver's paym�nfs �ar Mvrtgage Insurance, i� exchange �or sharing or modi�ying the mor�gage insurer's risk, or reducing �osses. 1f such agreement pravides�hat an affiliate o�Lender takes a share �f the insurer's risk in exchange for a share af#he premiums paid�o the insurer, the arrangem�nfi is aften t�rmed"cap�ive reinsurance." Fur�her: �a} Any such a�reemenfs will not affect the amounts that Barr�wer has agr�ed to pay for � Mortgage Insurance, ar any other terms of the Loan. Such agreements ►nrill not increase the am�unt Borrnwer wil! owe f�r Mortgage Insurance, and #hey will no� enti#le Bvrror►ver �o any refund. �b}Any such agreements wili no�affe�t�he rights Borr�►n►er has�- if any�-witn respect to the Mortgage �nsuran�e under the Homeawners Prvtection Ac# nf '1998 or any ather faw. These rights may includ� the righ# to receiv� cer�ain d�sc�osures, to request and obtain cancella��on of �h� Mor�gage �nsurance, �o harre �he Martgage �nsurance �erm�nated automa�ically, andlvr to r�ce�r►e a refund of any M�rtga�e �nsurance pr�miums thaf were unearned a� the time of such cancellation ar terrninativn. �I�. Assignment of Ni�scellaneau� Proceeds; F��feiture. A�i N[is�ellaneous Pr�ceed� are hereby assigned to and shail be paid ta L�nder. � If fhe Praper�y is damaged, such Miscelianeaus Proc�eds shall b�applied to res�ora�ion or repa�r of the Proper#y, �f the r�storation ❑r re�air is �cvnom�cally feasible and Lender's securi�y is not lessened. Du��ng such repair and restora��on peri�d, Lender sha11 ha�e �he right �o hald such Miscellaneous � 3 � ❑ � d 4 5 2 8 8 � � M C M � R T D U T � NEBRASKA--Single Famiiy-Fannie NlaelFreddie Mac UNIFqRM INSTRUMENT Farm 3fl28 '1f�� page 8 of 94 pa�es} M�rtgags Cadencs Ov�ument Center D 3D27 0�1�4