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<br />pay the premiums required to rnaintain Mortgage Insurance in effect, or to provide a non-refundable loss
<br />reserve, until l�ender's requirement for Mortgage Insurance ends in accordance with any written agreement
<br />between Borrower and Lender providing for such termination or until termination is required by Applicable
<br />Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage lnsurance ceimburses Lender (or any entity that purchases the Note) for certain losses it may
<br />incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in focce from time to time, and may enter
<br />into agreernents with other parties that share or modify their risk, or reduce losses. These agreements are on
<br />terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these
<br />agreements. These agreements may require the mortgage insurer to make payments using any source of funds
<br />that the mortgage insurer may have available (which may include funds obtained frorn Mortgage Insurance
<br />premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
<br />other entity, or any affiliate of any of the foregoing, roay receive (directly or indirectly) amounts that derive
<br />from (or might be characterized as) a portion of $oxrower's payments for Mortgage Insurance, in exchange for
<br />sharing or modifying the mortgage insurer's risk, nr reducing losses. If such agreement provides that an
<br />affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the
<br />insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Sorrower has agreed to pay for Mortgags
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will
<br />owe for Mortgage Insurance, and they will not entitle Sorrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 199$ or any other law. These rights may
<br />include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage
<br />Insurance, to have tl�e Mortgage Insurance terminated automatic$lly, and/or to receive a refund of any
<br />Mowtgage Insurance premiurns that were unearned at the tirne of such cancellation or termination.
<br />Il. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned
<br />to and shall be paid to Lender.
<br />If the Froperty is damaged, such Misc�llaneous Proceeds shall be applied to restoration or repair of the
<br />Property, if the restoration or repair is econamically feasible and Lender's security is not lessened. During
<br />such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br />Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
<br />satisfaction, provided that such inspection shall be undertake❑ promptly. Lender may pay for the repairs and
<br />restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an
<br />agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br />Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceads shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />Section 2.
<br />In the event of a total taking, destcuction, or loss in value of the Property, the Miscellaneous Proceeds
<br />sha(I be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrower,
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than
<br />the amount of the sums secured by this Security Instrument imrnediately before the partial taking, destruction�,
<br />or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />Instrunnent shall be reduced by the amaunt of the Miscellaneous Proceeds multiplied by the following fraction:
<br />(a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value
<br />divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss
<br />in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Pcoperty in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of
<br />the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />N�BRASKA- Single Family - FannieMae/FreddieMac UNIFQRM INSTRUMENT
<br />Form 30281/01 I1 �
<br />Laser Forms Inc. (800) 446-3555 (�(\ �r7
<br />LFI#FNMA3028 4102 Page8 of 13 Initials: 1,�
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