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2� 17���33
<br /> L�A N#: 33'f 424'I 4'I
<br /> aft�rnate mortgage insur�r s�lected by L�nder.If substan#�ally equi�alent Mvrtgage Insurance co�erage is
<br /> not a�ailable,Borrvwer sha11 continue to pay to Lenderthe amount of the s�parate�y�esignated payments
<br /> that were due when th� insurance co�erage ceased to be in e#fe�t. Lender will accept, us� and retain
<br /> these paym�n#s as a non-refundable Eoss reserve in fieu of Morkgage Insurance. Such loss reserve shalf
<br /> be non-refundable, notwifhstanding the fact that the Loan is ultimately paid in full, and Lend�r shall nat
<br /> be requir�d to pay Barrower any inter�st�r earnings on such loss res�rve. Lender can no Ionger require
<br /> Ioss rese�ve paymen#s �� Mortgage lnsuran�e coverag� �in the amount and for ths period that Lend�r
<br /> requires} pro�ided by an insurer selecte� by Lender again be�omes a�ailable, is obtained, and Lender
<br /> requires separately designated payments#oward the premiums for Mortgage Insurance.If Lender required
<br /> IUlvr�gage Insurance as a conditi�n �f mak�ng the Lvan and B�rrower was requtred ta make separat�ly
<br /> designated paym�nts#�ward the premiums far Mortgage lnsurance, Borrower shall pay the premiums
<br /> required to maintain Mortgage Insurance in eifect, or tv provide a non-refundable Iass reserve, until
<br /> Lender's requirement for Mortgage �nsuran�e�nds in accordance with any w�itten agreement�etween
<br /> Bvrrow�r and Lender pr�viding for such termina#ion or until termination is requir�d by Applicable Law.
<br /> N�thing in this Section 10 affec�s Borrower's a���gati�n to pay inter�st at#he rate pra�ided in the Nate.
<br /> Mortgage Insurance reimburses Lender�or any�ntity that purchases the Note}for certain l�sses it may
<br /> inGur if Barrawer does no#repay the Loan as agreed. B�rrower is not a party�o the Mortgag� Insu�ance.
<br /> Mvrtgage Insurers e�aluate their tatal risk on a�� such insurance in for�e from time to time, and
<br /> may enter �nta agreements with other par#ies �hat share or modify th�ir risk, or reduce Ivsses. These
<br /> agre�men�s are on terms and conditions that are satisfactory t� the martgage insurer and the other
<br /> party �o�parties} to these agreem�nts. These agreements may require the mortgage insurer to make
<br /> payments using any source vf funds that the m�rtgage �nsurer may ha�e available �which may inc�ude
<br /> funds ob#ained from Martgage Insurance pr�miums}.
<br /> As a result of these agreements, Lender, any purcha��r of the note, another insurer, any reinsurer,
<br /> any other entity, or affiliate of any af the foregoing, may recei�e �directly or indirectly} amounts tha#
<br /> derive from �or might be �haracte�ized as� a por��vn af B�rr�wer's payments for Martgage lnsurance,
<br /> in exchange fo�sharing ar mod�fying the mortgage insurer's risk, or reduc�ng iosses. If such agreement
<br /> provided tha� an affiliate of Lender takes a share of the insurer's r�sk in exchange for a sha�e �f the
<br /> premiums paid ta the insurer, fh�arrangement is often termed "capti�e r�insuranGe." Further:
<br /> ta} Any such agreements will nvt affect the amounts that B�rrawer has agreed to pay for
<br /> Mortgage Insurance,ar any otherterms of the Loan.Such agreements wiil nat increa�e the amaunt
<br /> Borrawer will owe for Mortgage Insurance� and they will nvt entitle Barrower to any refund.
<br /> (b� Any such agreements will nvt affect the right� Borrower has - if any - with respect to
<br /> the Mortgage Insurance under the Homeowners Protection Act of'1998 ar any other iaw. These
<br /> rights may include the r�ght to recei�e certain disclosures� to request and �btain cancellation
<br /> nf the Martgage Insurance,tv have the M�rtgage Insurance terminated automatically, andlor to
<br /> receive a refun�l of any Mortgage lnsuran�� premiums �hat were unearned at the time of such �
<br /> cancellati�n ar terminatian. ;
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<br /> 11. Assignment of Miscel�aneous Proceeds; Forfeiture.All Miscellaneous Proceeds are hereby �
<br /> assigned to and shall be paid t� Lender.
<br /> If the Prop�rty is damaged,such Miscellaneous Pr�ceeds shall be applied�o restoration or repair of
<br /> the Prop��ty, �f the restoration o�repair is ecanomically feasible and Lender's seGurity is nat lessened.
<br /> auring such repa�r and restvration perivd, L�nder shali ha�e the right to hold such Misce�lanevus
<br /> Proc�eds until Lender has ha� an opportunity ta inspect such Property to ensure the work has been
<br /> completed to Lender's satisfaction, pro�ided that such inspectivn shall be unde�taken�romptly. Lender
<br /> may pay for�he r�pairs and restoration in a single d�sbursement or in a series of progress paymen#s ;
<br /> as th�work is c�mpleted. Unl�ss an agreem�nt is made in wr�t�ng ar Applicable Law requires interest �
<br /> to b�paid�n such Misce!lanevus Pr�ceeds, L�nd�r shall not be required to pay B�rrower any interest '
<br /> ar earnings vn such Miscellaneous Proceeds. If the restoration�r repair is not ecvnomical�y feasible or �
<br /> Lender's securi�y wouid be I�ssened,the Mis�ellaneous Proceeds shal�be applied to�he sums se�ured �
<br /> by this Security Instrument, whether or not then due, with the excess, �f any, paid to Borrower. Such
<br /> Misce�lan�ous Pr�ceeds shaE! be applied in the orde�prov�ded for in Secf�an 2.
<br /> �n the e�ent of a totai taking,destructian,or loss in value of the Property,the Misc�llaneaus Proceeds
<br /> shall be app�ied to th� sums secured by this Security Instrument, whether ot� not then due, with the
<br /> excess, �f any, paid to Bor�ower.
<br /> In the e�ent of a parkial tak�ng, destruction, or Ioss in�alue of the Property in►►vhich the�a�r market
<br /> �alue of the Property immediately b�fore the partial taking, destruction, or loss in �alue is equal to or
<br /> greater than the amoun�of the sums secured by this Security Instrument immediately be�ore the�artiaf
<br /> taking, destructian, �r I�ss in �alue, unless Borr�wer and Lend��vtherwise a�ree in writing, the sums
<br /> secured by this Security Instrument shall be reducs� by the amount of the M�s�ellaneous Proceeds
<br /> multip�ied by the fvll�wing fractivn: �a} the tata! amvunt o�#he sums s�cured immediat�ly befnre th� i
<br /> partia�taking,destruction,or lass in�alue di�ided by�b}�he fai�mark�t valu�of th�Property immediately �
<br /> before the partial taking, des#ruction, �r�oss�n�alue.Any balance shall be paid tfl B�rrower. �
<br /> ln the�vent o#a partia{taking, des�ruction, or lass ;n value of the Property in►rvhich�he fair market
<br /> �alue of the Prvperty immedi�tely before the partial taking, destruction, or�oss in�aiue�s less than the �
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<br /> NEBRASKA--Single Family--Fannie MaelFreddfe Mac UN[FaRM iNSTRUMENT Form 3�28�1t�� j
<br /> Ellie Mae,Inc. Pa�e 7 of 1� NEEDEED �315
<br /> NEEDEED�CLS}
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