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200508965 Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage insurance previously ink effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from anj alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non -refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non - refundable, notwithstanding the fact that the Loan is ultimately paid ' full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provi ed by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated paymer ts toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the oan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non - refundable loss resc rve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower ai d Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 0 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it ma� incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have: available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or (might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or mcd�fying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower bas agreed to pay for ortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower wi owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has — if any with respect to the ortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include th right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the ortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums at were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and storm. period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to in#pect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress paytn is as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be pai on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Mis ellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the MIS llaneous Loan No: 121760344 Initials: X Nebraska Deed of Trust -Single Family- Faanie MaNFraddie Mae UNIFORM INSTRUMENT MERS Modl6ed Far+ 307A 01/01 --THE co1Y pu"CE SOURCE, L-4c— Page 8 of 13 114301NE OW WWW.waiptimWelm e.com I ■ ■ ■ ■ ■ ■ ■�I ■ ■ ■ ■fl11N c2mrwcorvtii9msue,loc.