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<br />200701002
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<br />it may incur if l3orrowcr does not repay the Loan as agreed, !3otTowcr is not a party to the Mortgage
<br />I nsuranee.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and
<br />may enlt:r into agreements with other parties that share or modiry their risk, or reduce losses. These
<br />agreements are on terms and conditions that are satisractory to the mortgage insurer and the other party
<br />(or parties) to these agreements, These agreements may require the mortgage insurer to make payments
<br />using any source of funds that the mortgage insurer may have available (which IIlay includc funds
<br />obtamed from Mortgage I.nsunmee premiums)
<br />As a result or these agreements, Lender, any purchaser of the Note, another insurer, any
<br />reinsurer, any other entity. or any atfiliate of anv of the foregoing, may receive (directly or indirectly)
<br />amounts that denve rrom (or might he eharaeteri/,ed as) a portion or Horrower's payments for Mortgage
<br />Insurance, in exchange for sharing or modifying the mortgage msurer's risk, or reducing losses If such
<br />agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange ror a share or
<br />the premiums paid to the msurer, the arrangement is often temled "captive reinsurance." Further'
<br />(a) Any such a~reements will not atTect the amounts that Borrower has a~reed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not inl'rease the
<br />amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any
<br />refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to
<br />the Mort~a~e Insurance under the Homeowners Protection Act of 1998 or any other law. These
<br />riWtts may include the riWtt to receive certain disclosures, to request and ohtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that wen' unearnl,d at the time of such cancellation
<br />or termination.
<br />II. Assignment of' Miscellaneous Procl"Cds; Forteiture. ^ll Miscellaneous I'meeeds are
<br />hereby assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair
<br />of the Property, if the restoration or repmr is economically feasible and Lendcr' s security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous
<br />Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
<br />completed to Lender's salisfaction, provided lhat such inspection shall be undertaken promptly. Lender
<br />may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the
<br />work IS completed Unless an agreement is made in writing or Applicable Law requires interest to he
<br />paid on such Miscellaneous Proceeds, Lender shall not be required to pay Ilorrower any mterest or
<br />eamings on such Miscellaneous Proceeds. If the restoration or repair is not economically rcasible or
<br />Lender's security would he lessened, the Miscellaneous Proceeds shall be applied to the sums secured by
<br />this Security Instrument, whether or nol then due, with the excess, ir any, paid to BOlTowcr. Such
<br />Miscellaneous Proceeds shall be applicd in the nrder provided for in Sedion 2,
<br />In the event of a total taking, destruction, or loss in value or the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value or the Property in which the fair
<br />market value or the Property immediately herorc the partial taking, destruction, or loss in value is equal to
<br />or greater than the amount or the sums sceured by lhis Security Instrument immediately hef(lre the partial
<br />taking, destruction, or loss in value, unless BotTower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount or the Miscellaneous Proceeds
<br />multiplied by the following fraction: (n) the lolal amount or the sums secured immediately before the
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<br />NEURASKA - Singte l,'amity - Fannie ,\'hIe/Freddie Mac LC"IFORM INSTRIIIIH;NT WITH MERS I<'o...n 3028 1101
<br />VMI'-6A(NE)(0407),01 Pagc9ofl6 ". II) : /'rD.
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