Laserfiche WebLink
2� 17���85 <br /> for Mortgage Insurance,Borrower shall pay the pr�miurns required to ma�ntain M�rtgage Insurance in <br /> ef�ect,or to provide a non-refunda�Ie l�ss r�serve,unti�Lender's requ�rement for Mor�gage Insurance <br /> ends in accordance with any written agreement between Borrawer and Lender providing f�r su�h <br /> termination or until t�rmination is required by Applicable Law.Nothing i�this Section 1�af�ects <br /> Borrower's obligati�n to pay interest at the rate pr��rided in the Note. <br /> Mortgage Insurance rein�burses Lender��r any ent}ty that purchases the Note}for certa�n losses it <br /> may incur if Borrower doe�not repay the Loan as agreed.Borrow�r i�not a party to the Martgage <br /> Insurance. <br /> Mor�gage insurers e�aluat�their tota.l risk on a��such�nsurance in for�e from time ta time,and <br /> may enter inta agreements with other paxties tha�t share�r modify their risk,ar reduce losses. Th�se <br /> agre�ment�are on terms and cond�tions that axe satisfactory ta the mortgage insurer and the ather <br /> party�or par�ies�to these agreement�. These agreernents�may requ�re the mortgage �nsurer to make <br /> payments using any source of funds that the mortgage insurer may ha�e a�ailable(which may include <br /> funds ahta�n�d from M�rtgage Insurance premiums}. <br /> As a result of these agreements,Lender,any purchaser af the Nvte, another insurer,any reinsurer, any <br /> ather ent�ty, ar any af�'iliate of any of the faregoing,may recei�e�directly or indirectly)amounts that <br /> deri�e frvm�or might he chara�terized as}a partio�of Barrower's payments for Mortgage Insurance, <br /> in exchange for shar�ng or mod�fying the martgage insurer's r��k, or reducing losses.If such agreement <br /> pr��ides that an ai�iliate of Lender takes a share of the insurer's risk in exchange f�r a share af the <br /> premiums paid t�the insur�r,the arrangement is�ften termed "capti�e reinsurance." Further: <br /> (A)�ny su�h agreements will not aff�ct the amounts that Borrower has a�reed to pay for <br /> Mortgage InsurancQ,or any other term5 of the L�an.Such agreements will not incr�ase the <br /> amount Borrower will vwe for Mortgage Insurance,and they will not ent�tle Barr�wer to any <br /> refund. <br /> (B�Any such agreement�wi�l n�t affect the rights Borrower has-if any-with respect t�the <br /> Mortgage Insuranc�under the Homeowners Protection Act of 1998 or any flther law.Tbese <br /> rights may include the right ta recei�e certain disc�o�ures,t� request and obtain�ancellation vf <br /> the Mortgage In�uran�e,to ha�e the Mortgage Insurance term�nat�d aut�matical�y,andlor ta <br /> receive a refund of any Mortga�e�nsurance premiums that were unearned at the time of such <br /> cancellation vr terminat�on. <br /> �I�!. Assignment of Niiscelfanet�us Proceeds; F�rfeiture. A11 Miscellaneous Prviceeds are <br /> hereby assigned ta ar�d shall be paid to Lender. <br /> If the Praperty is damaged, such Misce�laneous Praceeds sha�l be applied to restoration or repair of <br /> the Pr�perty, �f the restoration or repair is economical�y feasib�e and Lender's security is not lessened. <br /> I�uring such repair and restoration per�od,Lender shal�ha�e the right to hold such Miscel�aneaus <br /> Proceeds until Lender has had an ap�ortun�ty to inspect such Pr�perty to ensure th�work has been <br /> comp��ted to Lender's satisfaction,pro�id�d that such inspection sha11 be undertaken promptly. Lender <br /> may pay for the repairs and restaration in a single d�sbursement or in a series af pragress payments as <br /> the work is completed.Un�ess an agreeme�t is made in writing vr Applicable Lavv requires interest to <br /> be paid on such Miscellaneous Proceeds,L�nder shall not be required ta pay Borrvwer any interest�r <br /> earnings on such Miscellaneous Proceeds.If the restoration or repair is not economicaily feasible or <br /> Lender`s security would�e lessened,the Miscellar��ous Proceeds sha11 be app�ied to the sums secur�d <br /> 23�d43D283 <br /> NEBRASKA-Single Family-Fanrne MaelFreddie Mac 11NIF�RM 1NSTRUMENT Farm 302811�1 <br /> VMP� D612415 <br /> Wolters Itluwer Financ�al 5ernces 2017a1131 fi��39�5-J��16072�Y Page 9 af 1 fi <br />