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2� 1 ��8748 continue�o pa�t� L�nder the amount flf the separat�iy designated payments that were�.ue when�he �nsurance��erage c�ased to be�n�ffect. Lender wili accep�, use and re�ain th�se payments as a non-refundable l�ss reserWe�n lieu of Mor�gage�nsurance. Such loss r�serv�sha��be non-refundable, notw��hs�andin��he fact�hat�he Loan�s u�t�rnat�iy paid in fu��, and Lender shai�not be requ�re�i to pa� Borrov�rer an� interes�or earning�on su�h��ss res�rve. I...�nder can n� Ionger require Iass r�serve pa�ments if Mor��a�e�nsurance caverage�in the amount and for the period tha�Lender requires) prov�d�d by an insurer s��e��d by Lender again becomes avai�ab�e, is�btained, and Lender requires separately des�gnated payments toward the prem�ums for Mortgage�nsurance. If Lender requir�d Mor�gag�Insurance as a candi�ion of rnaking th�Loan and Borrower was r�qu�ret��o make separately desi�na�ed payment�toward�he prem.i�ums far Mortgage Insurance, Borrower sha�I pay�he prem�.iums re�u�red��ma�n�ain Mor�gage Insurance in effect, ar to provide a non�refundabie Ioss reserve, until I,ender's requir�ment for Mor�gage Insurance ends in accordanc�w�th any wr��en agreemen�between Borrov�er and Lender pro�rid�n�for su�h termina�ion ar unti�ternunat��n is required by App�i�ab�e Law. Nathing in�h�s Sec��an 1� affe��s Borr�wer's obl��ation to pay int�rest a�the rate pravided in the No�e. Mor��age�nsurance re�mburses Lender�ar any entity �hat purchases the N�te} for cer�ain loss�s xt may incur �f Borrawer daes na�repay the L�an as agr�ed. Bo�rrov�er�s not a party to �he N�or��age Insurance. N�or�gage insurers��alua�e their�ata� risk on al� suGh insurance�ri force frnm time ta t�me, and may en�er into agr��ments v�r�th other par�ies �hat share nr modif��he�r risk, or reduce�osses. These agreemen�s are on terms and Gonditions that are satisfactory to�he mort�ag��nsurer and th�other party �nr�a�rties} to�hese a�reements. These agreemen�s may require�he�or��age�nsurer to make paymen�s using an� saurce of funds tha�th�mor�gage insurer may have avai�able�vwhi�h may inc�ude funds ob�ained from Mortgage Insuran�e premiums}. As a r�su�� of th�se agreemen�s, I.end�r, any pur�haser of the Note, ano�her insurer, any reinsurer, any�ther en��y, or any aff��iate of any of the foregoing, may recei�re�direc�iy or indirectly} am�unts that der��e from �or m�gh��e Characteriz�d as} a par��on nf Borrovver'�pa�ments for Mortgage Insurance, �n exchange for sharing or modifying the mor�gage�nsurer's risk, or reducing�oss�s. If such agreement pro�r�des that an affilia�e of L�ender takes a share af the insurer's risk in e�chan�e for a share of the prem�ums paid to the insurer, the arrangemen��s of�en�ermed "cap�ive reinsuran��." Fur��er: �a} Any such agr�ements wil� no�affe�t the amounts tha�Borra►��ver has agreed�o pay f�r Mnrfgage Insurance, or any vther�erms of the Loan. Such agreem�ents w��no�increa�e the amount Borrower��v�� ov�e f�r Mor�gage Insurance, and they will not entitle Borrower to any refund. �b� Any such agreemen�s w��no�afF�c�th�rights Barrower has-if any�w�th respect to the �Vlortgage Insurance under�he IIorn�eo��rners Pratec��on Act of 1998 vr any o�her law. Th�e righ�s rnay xnc�ude the right to rece��e cer�a�n d��c�osures� to request and obtain cancel�at�on.of the �Vlortgage Insurance, to ha��th�Mar�gage Insurance�erminated au�oma�ica��y, andlvr to recei�e a refund of any�Vlortgage Insurance premiums tha�were une�rned at the time af such cance�la��on or terminat�on. '[1. Assignm�nt of �isce�laneous Praceeds; Fnrfeiture. Al� Miscel�aneous Praceeds are hereby ass�gned to and sha��be pa�d ta Lender. If�he Pr�per�y is dama�ed, such Miscellaneous Proceeds sha�l be appl�ed to res�orat�an or repa�r of the Proper��, if�he rest�ra�ion ar repair is econom�i.call� f�asib�e and Lender's security �s not�esse�.ed. During such repair and restora�ion per�od, Lender sha�l have the righ�to ho�d su��. M�sce�laneous Proce�ds until L�nder has had ar�oppar�uni�y�� inspect such Prap�r��o ensure the vWork has be�n c�mplet�d to I.�nder's NEBRASKA-5ingle�arr�i{y-�ar�nie MaelFredriie Mac UNIF�RM(N5TRt1MENT �orm 30�8"#!�� VMP Q VMPfi�N�}�13�2} Wvlters Kluwer�ir�ancial S�r�ices Page 9❑f i 7