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<br />again becames available, is obtained, and I.cnd�r requires separately designated p&ymenta taward the premiums for Mnrtgage
<br />insurance. Tf Lender required Mortgage Tnsurance as a condition af making the Laan and Bon•awer was required to make
<br />separately designated payrrEents toward the premiums for Mortgagc Insur�nce, Barrowor shall pay #he premiums required ta
<br />ma9ntain Morcgage Insurancc in cffcet, ar ta pxovide a non-refwndablc loss reservc, until Lender's reguirement for Mortgage
<br />insurance ends in accordance with any wriaen agreement between Borrower and Lender pmviding for such terminarion or until
<br />termination is required by Applicable L,aw. Nothing in this Section 10 at'fects Borrowe�'s nbligation to pay interest at the rate
<br />provided in the Naee.
<br />Mortgage Insurance rein�burses Lender (or any cntity that purohascs th� Nota) for c�rtain losses it may incur if
<br />Borrower does not repay the Laan as agreed. 8on�ower is not a party to the Mortga�c Insurance.
<br />Mortgage evaluat� their totai risk on afl sach insura�zce in Force fram time to time, aad may enter into
<br />agreoments vvith other parties that share ar modify their risk, or reduce losses. Thesc agrecments arc on terms and canditions
<br />that are sacisfactory to the mortgage insurer and the other party (or parties) to these agreeinants. These agreeinents may require
<br />che moregage insurer ta make payments using any source af funds that the mortgage in�urer may have availabl� (which may
<br />include funds obtained frpm Mvrtgage Insurance premiums).
<br />As a result of these agi�eotnents, Lender, a.ny purchaser af the Note, another insurcr, any reinsurer, any ather entity, ar
<br />any af�list� of a�iy of the fore$oing, may recaive (diirectiy or indieectly) amounts that derive from (or might be characterized
<br />as) a portion of Barrower's payments for Mortgage lnsurance, ln exch�nge for sharing or modifying the inartgage insurer's rislc,
<br />or rEducing losses, lf such agreem�nt pravides that �n af�'ilisce of Lencler takes a share of the insurer's risk in cxchange Far a
<br />share of tlie premiums paid ta the insurer, tha arrangement is often ter►ned "captive reinsurance." Further:
<br />(a) Any such a�reements wilI not atfect the amounts that Borrorver has agreed ro pay Far Mortga�e Insurance,
<br />ur any other terrns ot' the �.oan, Sueh a�reeme�ats w91! npr ir►crease the amoant Borrower wi1N awe tnr Mortgage
<br />Insurance, and they Will not en#itle Borrower ta any refund.
<br />(6) Any such a�reements will not �ffect the right� Borrower has - lf any � with respect to the Mortgage
<br />Insurance under the HameoWnera Prbtection Act uf' 199$ or �ny other Iaw. These rights may include the right ta receive
<br />cert�in discloaures, to request and obtatn cancelfatton of the Mortgage lnsura�ce, to have the Mortgage Insuraoee
<br />term�nsted automat�cally, and/or to receive a refund of any Mortgage Insurance premi�ms that were unearned at the
<br />time nf such cancellation or termination.
<br />lI. Assignment of Mlscellaneous Frviceeda; �'urfeiture. Atl Miscellaneous Proceeds are hereby assigi�ed to and
<br />shall be paid c� L,ender.
<br />Tf the �'raperty is damaged, such Misceliancous Proce�ds shall be applierl tv restvratian t�r repair of the Pra�erty, if the
<br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restnration perind,
<br />Lender shaEl havc the right to hald such Miscallanaous Pracceds until Lender has had a�� opportui�ity to inspect such Pro�erty
<br />to ensure the wark has been completed to Lende�`s satisfactian, pro�ided ehat such inspectio� shall he undertaken prarnpely,
<br />Lender may pay for the repairs and restaration in a single disbursement or in s series o£ prpgress payments as rhe wark is
<br />eotnpleted. Unless an agreement is made in writing or Applicable Law rCquires interest to be paid on suCh Miscellangous
<br />Pr�ceeds, I.�nder shall nat bc reyairecf to pay Barrower any interest or earnings on such Misccllaneous Praceeds. If the
<br />restaration or repair is nat ecpnomically fcasible or Londer's seaurity would be Icssen�d, tho Miscellaneous Proceeds shall be
<br />a.pplied to the sums secured by this Securiry Instrument, whetk�er or not then due, with the excess, if any, paid to 8orrower.
<br />Such Miscellaneous Praceeds shal! be applied in the order provided for in Section 2.
<br />In the event of a total takin$, dest�vction, or loss iii value of the Property, the Miscellanenus Proceeds shall be applied
<br />to the sUms secuced by this Security Tnscrument, whether pr not then due, with the excess, if any, paid to Barrower.
<br />Tn thC event af a partial taking, destruction, or lass in valu� of the Properiy in which the fair market value of t�e
<br />Prpperty immediately before the partial taking, dash•action, or lpss in value is $qual to or grgater than the amount af the sums
<br />securod by thi8 Security Tnstrament imrnedi&tety befarc the partial taking, destnaction, or loss in value, unless Borrow�r and
<br />Lender othorwise agree in writing, the surns secured by this Sescurity [nstrum��xt shal] be reduced by the amaiint of ihe
<br />Miscellanaous Araceeds rr►ultiplied by the following fraction: (a) the total a�nount nf the sums secured immediately before the
<br />partial taking, dastruction, or loss in �alue divided by (b) the fair ma��ket value aF the Property irr�mecliately before the partial
<br />taking, destruccion, or loss in value. Any balance shall be paid to Barrnwer.
<br />In th� event of a partial taking, des#ructioi�, or loss in value of the Praperty in which the #'air inarket value af the
<br />Prop�rty imrnediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />IVE13RA5KA--5inglc Famiiy-•Fannle Mae/Freddie Mac UNIFORM INST�tUMEfVT
<br />�'r 738.3 Page 7 of t2 Form 3Q281/01
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