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2� 17��8�5 c�n��nue�o pay�o �ender the amoun��f the separateXy des�gnat�d paymen�s �hat were due when�he insurance co�erage ceas�d to be in effec�. L.ender w�i� ac��p�, use and re�ain�hese payments as a non-refundab�e�oss reser�e in�ieu of M�r�gage�nsurance. Such Iass reserve shall�e non-refundab�e, natwi�hstand�ng the fac��hat the Loan is u�t�ma��y pa�d in fu�i, and Lender sha�l nat be requ�red ta pay Borrower any interest or earn�ngs an such�oss reserve. L�nder�arz no lang�r requ�re lass reserve pay�ments if N�ar�gag�Insurance Goverage ��n��.e amaun�and far�h�per�od that Lender requ�res�pro��ded hy an �nsurer selected by Lender again�ecames avai�ab�e, �s ob�ained, and L�nder requires separa�e�y designated payrnents t�ward the premiums for Mor�gage�nsurance. �f Lender re�u�r�d Mortgag�Insurance as a condi�ion of making the Lvan and Borrow�r was requ�red ta make separate�y des�gna�ed paymen�s�award the prern�ums for N�or�gage Insurance, Borrower sha11 pay the�r�n�iums requ�red t� main�ain Mor�gage �nsurance in eff�t, c�r to pro�ide a non--refundab�e lass rese�-�r�, unt�� Lender's requ�rement for Mar�ga�e Insurance ends �n accordance with an�writ�en agreemen�be�ween Barr�vv�r and Lender praviding for such �ermin�t�on or un��rminat�on is requir�d by App�icable Lavv. Na�h�ng zn this S��ion I fl affects Borrov�rer's ob�i�ation to pay �n�erest a�the rate pravided in the No�e. N.��r�gag��nsurance reimburse� Lenc�er�or any en�ity�hat pur�ha��s�he N�te} f�r cer�a�n losses it may incur �f Borrower does no�repay the Loan as agreed. Borro�er is no�a par�y to�he Mart�age Insurance. M�r�gage insurers evalua�e�heir ta�a1 r�sk on a��such insurance�n forc�fr�m�ime�a��me, and may en�er in��agreements wi�h other par�ies tha�share or mod�fy�heir risk, or reduce�oss�s. These agreements are�n ternzs and condi�ions that are satisfac�ory to the mar�gage i�surer and the other party ��r par�ies}to�hese agre�men�s. These agreements may require the mor�gage insurer��make payments using any source of funds that�he mor�gage �nsurer may have availab�e (which may include funds obta�n�d from Mor�gage�nsurance pr�mxums}. As a result of�hese agre�men�s, Lender, an�purchaser of�he Nate, another�nsurer, any rein�urer, any o�her entity, ar any af��ate of any of the far�going, ma�rece�ve�d�rec��y or�ndirec�ly} amounts�hat deri�e from �or migh�b�charac�erized as} a p�r��on of B�rrower's pa�m�nts for Mar�gage�nsurance, �n exchang�for sharing or modify�ng�he mortgage insurer's r�sk, or reducing��sses. If such agreemen�prov�des�ha�an af�iiat�of L�ender takes a share of the insur�r's risk�n exchange for a share of�he premiums pa�d t��he insurer, the arrangemen�is often termed "cap�ive reinsurance." Further: �a� Any such agreernents will not affect the amoun�s that Borrower has agreed to pay for Mortgage Insurances or ar�y other terms of the Loan. �uch agreements wil�nat increase the amoun� Borr�wer wi�l awe far Mflrtgage Insuran�e, and they wi��n�t entitle Borrower to any refund, �b} Any such agreements w�ll not affect the r�ghts Borrower has-�f any-with respect to the Mor�gage Insurance under the�IQmeowners Protection Act of 1998 ar any other�aw. ThesQ rights �ay include the r�ght to recei�e cer�a�n d�sc�osuresy to reques�and abta�n�ancellation af the Nlvrtgag�Insurance, ta have the Martgage Insurance termina�ed autonr�at�cally, andlor to rece�ve �refund of ar�y Niortgage Insurance premiun�s that were unearned at the�ime of such canc��lation or�ernr��nat�on, 't 7. Assignment af Miscei�an��us Praceeds; Forfe�ture. Ail Mis�ellaneaus Pr�ceeds are here�y ass�gn�d�o and shali be paid t�Lender. �f�he Proper�y �s damaged, such Mis�eilaneous Proce�ds shaJ.�be appl�e�.to res�arat�an or repair of the Praper�y, if�h�res�ora�ion�r repair is ec�nomicaliy feasible and Lender's se�urity is nat lessened. Dur�ng such repa�r and res�ara�ion per�od, Lender sha1l ha�e the right�a ho�d such Mis�e�laneous Praceeds unti� Lender has had an�pportuni��r tc� �nspect such Pr�perty to ensur�the work has been camp�eted�� Lender's NEBRASKA-Single Family-Fannie Mael�reddie Mac UNtFQRM tNSTRIJM ENT Fvrm 3�28 110 i VMP Q VMPStNE;�13Q2� Wolters K�uwer Finar�ciat Ser�ices Page 9 af i 7