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201008945
<br />10787843
<br />again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Martgage
<br />Tnsurance, If Lender required Mortgage Insurance as a conditian af making the L�an and Eorrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non-refundable loss reservc, until Lender's requirement for Mortgage
<br />Insurance ends in accordance with any written agreement between Borrower and Lender praviding for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section 10 a#�ects Borrower's obligation ta pay interest at the rate
<br />provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Sorrower does not rcpay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their tatal risk on all such insurance in force from time to time, and rnay enter into
<br />agreaments with othcr parties that share or modify their risk, or reduce losses. These agreements are on terms and canditions
<br />that are satiisfactc�ry to the martgage inaurer and the other party (or parties) ta these agreements. These agr�ements may require
<br />the mortgage insurcr to rnake payments using any souxce of funds that thc mortgage insurer may have available (which rnay
<br />inalude funds obtained frorn Mortgage Insurance premiurns).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, �ny reinsurer, any other entity, or
<br />any afflliate of any of the foregoing, may receive (directly or indirectly) amounts that derivc from (or might be characterized
<br />as) a portion oFBorrower's payrnents for Mortgage Insurance, in exchange for aharing or modifying the mortgage insurer's risk,
<br />or reducing losses.. If such agreemcnt provides that an at�iliate af.Lender takes a share of the insurer's risk in exchange for a
<br />share of the premiurns paid to the insurer, the arrangement is often tertned "captive reinsurance." Further:
<br />(a) Any auch agreements will not affect the smounts that Borrower has agreed to pay for Mortgage Insurance,
<br />or auy other terma of the Loaq. Such agreemspts will not lncrease the amount Borrower will owe for Mortgage
<br />Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not atfect the rights Borrower has - if any - with respect to the Mortgage
<br />Iusurance uader the Homeowners Protection Act of 1998 or any other law. These rights may inclnde the right to receive
<br />certain disclosurea, to request and pbtaia cancellation of the Mowtgage Insurance, to have the Mortgage Insurance
<br />termiaated automatically, and/or to receive a refund of any Mortgage Insurance preraiums that were unearned at the
<br />Nme of sucri cancellatloe or termination.
<br />11. Assignment of Miscellaneous Proceeds; Fort'eiture. All Miscellaneaus 1'roceeds are hereby assigned to and
<br />shall be paid Ca Lender.
<br />If the Property is damaged, such Miscellaneous Praceeds shall be applied ta r�storation or repair of the Property, if thE
<br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
<br />Lender shall have the righc to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property
<br />to ensure the work has been completed to Lender's satisfaction, prqvided that such inspection shall be undertaken promptly.
<br />I,ender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />campletcd. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellancous
<br />Proceeds, Lendcr shall not be required to pay Borrower any interest or earnings on such Miscetlaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Eorrower,
<br />Such Miscellaneaus Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a tatal taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied
<br />to the sums secuced by this Sccurity Inswment, whether or not then due, with the �xcess, if any, paid to Borrowcr.
<br />In the event of a partial taking, destructivn, or loss in value of the Properiy in which the fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
<br />secured by this Security Instrument immediately before the partial taking, destructian, or loss in value, unless Bonower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds rnulciplied by the following fraction: (a) the total amount of the sums secured irnmediately before the
<br />partial taking, destruction, or lnss in value divided by (b) th� fair market value of the Property immediatety before the partial
<br />taking, destruction, ar loss in valuc. Any balancc shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or Inss in value of the Property in which the fair market value af the
<br />Property imrnediately before the partial taking, destructian, ar loss in value is less than thc amount of the sums sscured
<br />WEBRASKA—Single Family--Fxnpie MadF�eddie Mrc UNIFpRM 1NSTRUMENT
<br />i 338.2 Page 7 of 12
<br />Form 30281/01
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