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2� 17�� 1 �8 <br /> cont�nue to pay ta Lender�he amoun�of the separat�ly des�gnated payments tha�were du�when�he <br /> insurance co�erage ceased to be�n effe�ct. Lender w�ll accept, use and re�ain�hes�paymen�s as a <br /> non-refundable Ioss reser�e�n lieu of Mortgage Insurance. Such�oss reser�e sha�i b�non�refundable, <br /> n�twithstanding the fac��ha��he L.�an is ultimate�y paid in fix��, and Lend�r sha�� no�b�required�o pay <br /> Borrower any in�erest or earnings on such loss reserve. Lender can no Ionger requ�re Ioss reserve pa�men�s <br /> �f Mortgage Insurance co�erag��in the amoun�and f�r�he period�ha�Lend�r requ�res} pr��ided b� an <br /> �nsurer selec�ed by Lend�r again beco�nes a�ai�a�le, ��obta�n�d, and Lender requires separately designated <br /> pa�ments t�ward the premiums for M�r�gage�nsurance. If Lender required Martgage Insurance as a <br /> cond�tian of making the Loan and B�rrov�er was requ�red�o make separatel�des�gnated pa�ments�oward the <br /> pr�miums for Mor�gage�nsurance, B�rrower sha�l pay the premiums requir�d ta n1a�n�ain Mor�gage <br /> �nsurance in effect, or to provide a non-r�funda���loss reserve, un��� Lender's requirement for N�flr�gage <br /> ��surance ends in accordance with an�wri�ten agreem.ent betw�en Borr�wer and Lender pro�iding for such <br /> �erminat�on ar unt���ermina��an is require.d by Appli�able Law. Nathing in th�s Sec���n ��affects <br /> Borrawer's obliga�i�n�o pay interes� at fh��ate provided �n�he Note. <br /> Mor�gage �nsurance reimburses Lend�r�or an�entity�hat purcha�es�he Not�} for cer�ain�osses it may xncur <br /> if Borrow�r d�es not r�pa��he Loan as a�reed. Borrovver�s not a par�y to�he M�rtgage Insurance. <br /> Mor�gage insurers eva�ua�e�heir tatal risk on a�� su�h �nsuranc� in f�rc�from��m��o�i�me, and may enter <br /> �nto a�re�ments w��h o�her par�ies that share or modify their risk, or re�uC�loss�s. These agreemen�s are fln <br /> �erms and�ond�tions that are sa�isfactory to the mortgag��nsurer and�he o�her par�y t�r part�es}to these <br /> agreemen�s. These agreements may requ�re�he mor�gage insurer to make paymen�s using an� saurce�f funds <br /> tha��h�mflr�gage�nsurer m�a}�ha�e a�a�la��e�which ma�in��ude funds o�ta�ned from Mar��age �nsurance <br /> premiums}. <br /> As a resu�t of thes�a�r�emen�s, Lender, an�purchas�r of the No�e, anather insurer, an�re�nsurer, an�o�her <br /> enti��, or any af���a�e of any nf�he faregoing, ma� recei�r��d�rec�ly or indirect��} amounts�hat der��e�rom <br /> �or might�e charac�erize�as} a par�ion of Borrav�er's pa�ments for N.�ar�ga�e Insurance, �n exchange far <br /> shar�n�or modify�ng the mor�gage insurer's risk, or r�ducing losses. �f such agreemen�provid��that an <br /> af�l�ate of Lender tak�s a share�f the�nsurer's risk�n�xchange for a share of the premiums paid to �h� <br /> insurer, �he arrangem�nt i�of��n termed "cap�i�e reinsurance." Fur�her: <br /> �a� Any such agreenl�n�s wi�l not affect the amaunts tha�Borrovv�r has agreed to pay for Mar�gage <br /> Insurance, or any other terms of�h�Laan. Such agreemen�s w���not incr�ase�he am�vunt <br /> Borrower wi�l owe far Martgage Insurance, and they��vi�l nat entitle Borrower ta any r�fund. <br /> �h� Any such agreernen�s w��i not affect the r�ghts Borrow�r has -�f any -�with resp�c�to�he <br /> Mor�gage Insuran�e under the I3omeowners Pro�ec�ion Act of 1995 ar any a�her�aw. These rights <br /> may�n��ude th�r�gh��a rece��e certain disclosures, to reques�and a�tain canceilat�on of the <br /> IVior�gage In�urance, to have#he Mar�gag�Insurance�erminated automat�caily, andlor to re�eive <br /> a refund of an�N�or�gage Insurance pr�miums that►�vere unearned at the t�me of su�h <br /> C�nCellation Ur�erminatiUn. <br /> �'i. Assignrr�ent of �Il��scetlaneous Procee�s; Forfeiture. A�� Misce�Ianeous Proceeds are her�by assigned�o <br /> and sha��b�e paid to Lender. <br /> �f�he Property�s damaged, su��.M�scellaneous Proceeds sha11 b�appl�ed ta restoration�r�r�pair of��� <br /> Praperty, if�he restaration or repair is e�onom�cai�y feasib�e and L�nder's secur�x� is no��essened. During <br /> such repair and restora��on�eriod, Lender shal�ha�e t�e right to ho�d such Miscel�aneaus Proceeds unti� <br /> Lender has had an opportunity��insp�c� �u�h Property �o ensure th�w�rk has been�omp�eted to L�ender's <br /> NEBRASKA-Singf�Family-Fannie MaelFreddie Mac UNI�qRM[NSTRtJMENT Form 3�28�107 <br /> VMP Q VMP�[NEf�9302� <br /> Wa�ters Kfuwer��nancia!Ser�i�es Page 9 of'�7 <br />