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2� 17�2458
<br /> L�AN#: �sozos$��
<br /> ' alterr�a�e mvrtgage insurerse�ected�ay Lender.�f substantEa�ly equi�a�ent Mortgage Insuranc�coverage�s
<br /> n�t available,Borrower shall continue to pay ta Lender the amount of the separate�y designated payments
<br /> that�vere due�vhen the insurance caverage ceased �o be in effect. Lender wi�l accept, use and retain
<br /> these paym�nts as a nvn-refundable fass reserv�in lieu af ililortgage Ensurance. Such I�ss reserve sh�l�
<br /> be non-refundable, natwi�hstanding th�fact tha#the Loan is ultimateiy paid in fu�l, and Lender shall not
<br /> be requ��ed ta pay Borrower any in�erest ar earnings on such I�ss reserve. Lender can n❑lang�r requ�re
<br /> Eoss reserve payments if M�rtgag� lnsuranc� coWerage �in the amount and for�he period that Lender
<br /> requires} pravided by an insure�selected by Lender again becomes a�rai�able, is obtained, and L�nder
<br /> r�qu�res separateiy desi�nated payments toward�he premiums for fUlortgage Insurance.If Lend�r requ��ed
<br /> Mortgage Insurance as a c�ndition of making the Loan and Barrawer was required ta make separately
<br /> destgnated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
<br /> r�qu�red to maintain ftiilortgage lnsuranc� �n effect, or to p�ovide a non-refundable Iass reserve, until
<br /> Lend�r's r�quirement for Mortgage lnsurance ends in accordance v�rith any wriiten agreement bet�veen
<br /> Borrower and Lender providing for such termination or unttl terminatian is required by Appf�cable L�w.
<br /> No�hing in this S�ctian 1�af�ects Barrower's obligaf[o�ta pay interest a�th� rate pr�vided in the No�e.
<br /> Mortgage Insurance reim�urses Lender�o�any enti�y�hat purchases�he Note}for certain lasses i#may
<br /> incur�f Borrower daes n�t repay the Loan as agreed. Barrower�s no�a party to th� Nlortgage Insuranc�.
<br /> IVlortgage [nsurers �valuate their fata! risk on al� such insuranc� in force fram time to tim�, and
<br /> may en�er inta agr�ements wi�h other parties that share or modify their risk, or reduce Iosses. These
<br /> agre�ments ar� on terms and condit�ons that are �a�isfactar-�r to the mortgag� insurer and the ather
<br /> party �or part�es} to �hese agre�menfis. These agreements may require the mortgage insurer tv make
<br /> paymen�s using any source of funds that the mort�age insurer may ha��avai�able �which may include
<br /> funds obtained fram Mortgage Insurance pr�miums}.
<br /> As a resulfi of these agre�ments, Lender, any purchaser af the nvt�, another insurer, any reinsurer,
<br /> an� other entity, or affliate af any of �he foregaing, may recei�e �dire�tly or indirectly} amounts tha�
<br /> �erive from �or migh� be characterized as} a partion of Borrower's paymen��far Mvrtgage Insuran��,
<br /> �n exchange far sharing or modifytng the mortgage insurer's risk, �r reducing lasses. If such agr�ement
<br /> pravided that an affi�iate of Lender takes a share af the insurer's risk in exchange far a share of the
<br /> prem�ums paid �o the insurer, �he arrangement is of�en �ermed "capti�� reinsurance." Further:
<br /> �a� Any such agreem�nts wi�l nat affect the amounts that Barrower ha� agreed tv pay far
<br /> il�ortgage Insurance�ar any ather term�af the Loan.Such agreements wi�l not incr�ase the amvunt
<br /> Bvrrower wi�l owe for Martgage Insurance� anc�they will nat ent�tle Borrawer ta any refund.
<br /> �h� Any such agreements wi ll not aff�ct the rights Barrower has - �f any - �rr�th respect ta
<br /> the�artgage lnsurance under the Hvmeowners Prvtection Act of 1998 or any other �aw. These
<br /> rights may include the right to receive certarn di�c�osures� to request and ohtain cance�latian
<br /> of the Martgage lnsurance,tv ha�e the Ntortgage Insurance termrnated autamatical�y, andlar to
<br /> recei�e a refund of an� Mortgage Insurance premiums that v�rere unearned at the time af�uch
<br /> cance��atian or terminatian.
<br /> 11. Ass�gnment of Miscelianeous Praceeds; Forfeiture.All Misce�lan�aus Proceeds are hereby
<br /> assign�d to and shall be paid to Lender.
<br /> �f the Prvperty is damaged,such M�sceilaneous Proceeds shall be applied to restoratian orrepatraf
<br /> the Property, if the restaratEon or repair is econam�caily feasi�le and Lender's secur�ty �s not lessened.
<br /> During such repaEr and restoratian period, Lender shall have the right to hald �uch Miscellaneous
<br /> Proceed� until Lender has had an opportunity to inspect such Praperty tv ensure the ►�vo�k has been
<br /> comp�eted ta Lender's satisfaction, prvvided tha#such inspec�ion shai�be un�ertak�n promptly. Lender
<br /> ma}� pay for th� repaErs and restoratian �n a single disburs�ment ar in a series of pragress payments
<br /> as#he work is completed. Unless an a�reement is mad� in �r��t�ng or Appiicab�e Larnr �equires interes#
<br /> to be paid on such Miscellane�us Proc��ds, Lender shall not b� required tv pay Borrower any [nt�rest
<br /> or earnings vn such Misce��aneous Proceeds. lfthe restoratian or r�pair is not economically feasibie ar
<br /> Lender's s�curity would be lessen�d,the Miscelian�aus Proceeds shaEl be applied to the sums secured
<br /> by this �ecuri#y lnstrument, ►lvhether ar na� then due, with the excess, if any, paid ta Barr�►nrer. �uch
<br /> Mtscellaneous Pro�eeds shal� be app�red in the order pra�id�d for in Secfiian �.
<br /> ln the event�f a to�al taking,d�struG�ion,or loss in va�ue af the Praperty,th�Miscel�aneous Prvc�eds
<br /> sha�l b� applied to the sums secured by this 5ecurity Instrument, whe�her ar not then due, with th�
<br /> excess, if an}r, paid tv Borr�wer.
<br /> in the���n�af a partial taking, des�ructivn, or Ioss in �alue of th� Prapert� �n v�rhich the fair market
<br /> vaiue of the Property immediately befvre the partiai fiaking, destruction, ar Ioss in value is equal t� ar
<br /> greater than the amaunt vf the sums secured b�r this Security lnstrument immediate�� before�he partial
<br /> fiaking, d��truction, or loss in vafue, un��ss Borrower and Lender otherw�se agr�e in v�rriting, the sums
<br /> secur�d by th�s S�cur�ty �nstrument shail be reduc�d by the am�unt �f the Miscelianeous PraGeeds
<br /> multiplied by the f��lowing frac��an: �a} th� �atal amount af the sums secured rmmediately b�f�re �he
<br /> partial taking,destruc��on,or lass in�alu�divid�d by�b}the fa�r marke�va�ue af the Properiy immediate�}�
<br /> before the partial taking, destru�tion, or[oss in value.Any balance shall be paid to B�r�ower.
<br /> ln the event af a part�al taking, destruction, Qr loss in �ra�ue of�h� Property in v�rhich th�fair market
<br /> valu�of the Property immediately befvre the partial taking, des�ruct�on, or lass in valu�is t n t �e
<br /> Initiats:
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<br /> NEBRASKA--Single Famrly--Fannie ll�laelFreddie jVlac UNlFORM�NSTRUNIENT Farm 302811D1
<br /> E�I�e Mae,inc. Page 7 of 11 NEEDEED �3�5
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<br /> D31231�017 1�:1 S PM PST
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