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2� 17��3�5 <br /> cont�nu�to pay to Lender the amount of the separately designated payments that were due when the <br /> insuranc�co�erage ceas�d to be in effect. Lender v�il1 accept, use and retain these payments as a <br /> non-refundab�e loss,r�ser�e in lieu of Mvrtgage Insurance. Such loss reser�e shall be non-refundable, <br /> no�withstanding tlie fact that the Loan is ultimateiy paid in fu�1, and Lender shall not be required to pay <br /> Borrawer any interest or earnings on such�oss reser�e. Lender can no�vnger require loss reser��paymen�s <br /> if Mortgage Insurance coverage�in the amaun� and for the peri�d t�iat Lender requires}pra�ided by an <br /> insurer se�ected b�Lend�r again becomes avai�a���, is obtained, and Lender requires separate�y designated <br /> payrnents�oward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a <br /> condxtion of making�he Loan and Borrawer was required to make separately designated payments toward the <br /> prem�ums for Mar�gage Insurance, Barrower shal�pay the premiums required to maintaun Mortgage <br /> Insurance in effect, or to provide a non-refundabl�loss reserve, until Lender's requ�rement for M�rtgage <br /> Insurance ends in accordance vvith any�vvritten agreement betvv�en Borrower and Lender providrng for such <br /> �ern�ination or until�.enninatran is requ�red by Applicable Law. .Nothing xn this Section 1�affects <br /> Borra�er's ob�igatxon to pay interest at t�e rat��rovided in the Note. <br /> Mortgage Insurance reimburses Lender�or any er�tity ttiat purchases the Note}for certain losses it ma��ncur <br /> if Barrower does not repay the Loan as agreed. Borro�ver is nat a party to the Mortgage Insurance. <br /> Mortgage insur�rs e�aluate their tata�r�sk on a11 such�nsuranc�in force from time�o time, and may enter <br /> into agreements with�ther parties that share ar mndify their risk, or reduce Iosses. These agreements are on <br /> terms and conditions that are satisfact�ry to the mvrtgage insurer and the other par��r �or part�es�#.o these <br /> agreements. These agreements may require the mortgag�insurer to make payments using any source o��ur�ds <br /> that the martgag��nsurer may ha�e ava�lab�e�which may include funds obtained from Mor�gage Insurance <br /> premiums}. <br /> As a result of these agreements, Lender, any purchaser of the Note, anotrier insurer, any reinsurer, any ot�er <br /> entit�, or an�affil�ate af any of�he faregaing, may r�ceive�directly or indi���tly} amounts that derive fro�n <br /> �or might be characterized as} a portion af Borrower's payments for Martgage Insurance, Yn exchang�for <br /> sharing or mod�fying the mortgage rnsurer's�isk, or reducing�osses. If such agreement provide�t�at an <br /> affilxate of Lender takes a share of the�nsurer's ris�in exchange for a share of the premiums paxd�o the <br /> insurer, the arrangement is often t�rmed "captive reinsurance." Further: <br /> ta y An�such agreements wil�not affect the amaunts that Borrower has agreed to pay for Mortgage <br /> Insurance, or any_other terms of the Loafl. Such agreements wi�l nat increase the amount <br /> Borrower wil�owe for Mortgage Insu�ance, and they will not entitle Borrower to any refunc�. <br /> t h� Any such agreements wil�not affect the rights Borrower has �if any�with res�ect to the <br /> Martgage Insurance under the Homeowners Protection Act of 1998 or any ather law, These r�ghts <br /> may include�he right to recei�e�ertain disclosures, to request and obtain can�el.lation of the <br /> Mor�gage Insurance, to ha�e the Mortgage Insurance terminated automati�a��y, andlor ta recei.v� <br /> a refund of any Mortgage Insurance pre�iums that were unearned at the time of such <br /> cancel�ation or terminatzon. <br /> '�'�. Ass�gn�r�nent ❑f M�scellanevus Proce�ds; Forfeiture. All M�scellaneous Praceeds are hereby assign�d to <br /> and sha11 he paid ta Lender. <br /> If the Proper�is damaged, such Miscellaneous�roceeds sha11 be applied to restoration nr repair of th� <br /> Property, if the restoratian ar repair is ecvnamica��y feasible and Lender's security is not lessened, D�ring <br /> such repa�r and r�storatian period, Lender sha�1 ha�e�he right ta hald such Miscellaneous Pr-viceeds unt�� <br /> Lender has had an oppor�unity to inspect su�h Praperty ta ensure the work has been co�pleted tv L:end�r'� <br /> NEBRASKA-5ingle Family-Fannie MaelFreddie Ma�IJNIFORM 1NSTRLIMENT Farm 3Q28 z 1�1 <br /> VMP QQ VMP6{NEy�1302y <br /> Wv�ters K�uwer Financia�5er�ices Page 9 a€17 <br />