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2� 17��338
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<br /> LaAN#:�so�so9s�
<br /> altema#e mor�gage insurerse�ected hy Lender.If subsfantially equi�a�en#M�rtgage Insurance coverage is
<br /> n�t avai�able,Borrvwer shall con#inue to pay to Lende�the amount of the separa#eiy designa#ed payments
<br /> that were due when the insurance cove�age ceased to be in effect.Lender wili accept,use and retain
<br /> these payments as a nan-refundable Ioss reserve in��eu of IlJlortgage Insurance.Such Ioss reserve shall
<br /> be non�refundable,notw�thstanding the fact that the Loan is u�timately paid in fuli,and Lender sha�i nvt
<br /> be required to pay Borrower any interest o�eamings on such Inss reserve.Lender can nv longer require
<br /> Ioss reserve payments if Mortgage Insu�ran�e coverage�in the amount and fvr the perivd that Lender
<br /> requires}pra�ided hy an insurer selec#ed by Lender again becomes a�ailable,is obtained,and Lender
<br /> requires separately designated payments#oward the premiums�or Mortgage Insurance.If Lende�required
<br /> Mortgage Insurance as a cvndEtion of making the Loan and Borrower was required to make separately
<br /> designa#ed payments tvward the premiums for Martgage Insurance,Bo�rower shall pay the premiums
<br /> �equired to maintain Mortgage Insurance in effec#, ❑r to provide a non�refundahle [oss reserve, un#i1
<br /> Lender's requirement for Mortgage�nsurance ends in accordance with any written agreement between
<br /> Barrower and Lender providing for such terminativn or until terminativn is required by Applicab�e Law.
<br /> Nvthing in#his Section'I O affects Bvrrower's obliga#ion#o pay interest at the rate provided in the Note.
<br /> Mortgage Insurance reimburses Lender(or any entity that purchases#he Note}for certain�osses it may
<br /> incur if Borrower does not repay the Loan as agreed.Bvrrvwer is not a party to the Mvrtgage Insurance.
<br /> M�rtgage Insurers e�a[uate the�r tota�risk on all such insurance in torce�ram time to time, and
<br /> may enter into agreements with o#her part�es that share or modify their risk, or reduce Iosses.These
<br /> agreemen#s are on terms and conditions that are sa#�sfactvry ta the martgage insurer and the ather
<br /> party{or parties}to these agreements.These agreements may requ�re the martgage insurer ta make
<br /> payments using any source of funds tha�the mor#gage insurer may ha�e a�ailable�which may include
<br /> funds vb#ained f�om Mortgage�nsurance premiums},
<br /> As a result of these agreements,Lender,any purchaser of the note,another insurer,any reinsurer,
<br /> any ather en�ity, or affiEiate of any of#he foregoing, may re�eive (direcily ar indirectly} amounts that
<br /> derive frvm�or might be characterized as}a portion of Borrower's payments fvr Mortgage�nsurance,
<br /> in exchange fo�shar�ng or modify�ng the mortgage insurer's risk,or reducing Ivsses.If such agreement
<br /> provided that an afflia#e o�Lender takes a share of the insurer's risk in exchange far a share of the
<br /> premiums paid to#he insurer,the arrangemen#is often termed"captive reinsurance."Further:
<br /> �a� Any such agreements will nat affect the amvunts that Bvrrower has agreed tv pay for
<br /> Nlartgage Insurance,v�any�therterrns ortthe Loan.Such agreements w��l nvt increase the amount
<br /> Bvrrower wil[owe f'vr Mortgage Insurance,and they wi��not entitle Borrower to any re�'und.
<br /> {bj Any such agreements will not artfect the rights Bor�ower has-i�any-w�th respect to
<br /> the Mortgage Insurance under the Hameavuners Protect`ron Act of'i998 or any other�aw.These
<br /> rights may include the right to receive certain drsclosures,to request and obtain cancellatian
<br /> of the Mortgage Insurance,to haWe the Mortgage Insurance terminated autvmatica[[y,andlar to
<br /> recei►re a refund vf any Mortgage Insurance premiums that were unearned at the time of'such
<br /> cance�Iation or termination.
<br /> 'i'i. Assignment of Miscellanevus Proceeds;Fvrfeiture.A!!Mis�e�Ianeous P�oceeds are hereby
<br /> assigned to and shall be paid to Lender.
<br /> I�the Property is damaged,such Miscel�aneous Pra�eeds shall be appt�ed to restoration or repair af
<br /> the Property,�f the restaration or repair is ecanvmically feasible and Lender's security is nvt lessened.
<br /> During such repair and restor�ation periad, Lender shal� ha�e the right to hold su�h Miscel[anevus
<br /> Proceeds un#�1 Lender has had an opporkunity to inspect su�h Praperty to ensure the work has been
<br /> completed ta Lender's satisfaction,provided�ha#such inspection sha�l be undertaken promptly.L�nder
<br /> may pay for�he repairs and restoration in a single disbursement vr in a series of pragress payments
<br /> as the work is comp�eted.Un�ess an agreement is made in writing or Applicable Law requires inte�est
<br /> to be paid on such Misceilaneous Praceeds,Lender shall not be required to pay Borrower any interest
<br /> or earnings on such Miscellaneous Proceeds.1�the restorativn or repair is not economically#easible or
<br /> Lender's security would be lessened,the Miscellaneous Prvoeeds shall be applied to the sums secured
<br /> by this Securi#y Instrument,whether or not then due,with the excess, �f any,paid to Borrower.Such
<br /> Misce�laneous Pro�eeds shall he appiied in the vrder pro�ided for in Sec#Eon 2.
<br /> In#he event of a#ota!taking,destruction,or ioss in value vfthe Prvperty,the Miscellanevus Prviceeds
<br /> shaIi be applied tv the sums secured by this Secur�ty Instrument,whe#her or not then due,with the
<br /> excess,if any,paid to Barrower.
<br /> En#he event of a partial tak�ng,destruction,ar lass in�alue of the Property in which the fa�r market
<br /> va�ue vf the Property immed�ately before the partial#aking,destruct�on,or ioss in value is equa�#a ar
<br /> greater than the amount of the sums secured by this Security Ins#rument immedia#ely before the partial
<br /> taking,destruction,vr Ioss in vaIue,unless Borrower and Lender vthenNise agcee in writfng,#he sums
<br /> secu��d hy this 5ecuriiy Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br /> multipIied by the follvwing frac#�on: �a�the#otal amount of#he sums secured immediately before the
<br /> partiai tak�ng,destruction,or loss in value di��ded by{b}�he fair market value afthe Property immediate�y
<br /> hefore the partial taking,des#ru�#ion,❑r loss in�a�ue.Any balance shal�be paid#o Borrower.
<br /> In the e�ent of a partia!taking,destructivn,or Ioss�n�alue of the Property in wh�ch the fai ar t
<br /> value af the Property immediately before the partial taking,des#ructton,or loss in value is le f t �
<br /> �n lt�a[s:
<br /> NEBRASKA—Sir�gle Family--Fannfe MaelFreddfe Mac UNlF�RM INSTRUIVIENT Form 3028 9f0"t
<br /> Ef[ie Mae,inc. Page�of'f'� NE DEED 03�5
<br /> NEEDEED�CLS)
<br /> 121271�01 fi 06:23 AM PST
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