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201107697 conCinue Co pay to Lender the amount of Yhe separntely designated payments that were duc when the insurance eoverage ceased to be in effect. Lender will accept, use and retain these payments as a noo-refundable loss reserve in lieu of Mortgage Insurance. Such]oss reserve shall be non-refuudable, notwithstanding tlie fact that the Loan is ulGimaLely paid in full, and Lender sliall not be requi�ed to pay Borrower nny interesC or earninge on sueh loss reserve. Lender can uo longer require loss reserve paymen�s iP MorCSage Insurance eoverage (in the amount�uid for the period that Lender requires) provided by an insurer selected by Lender again becoines available, is obtained, and Lendee requires separa[ely designnted payments toward llie premiums lor MorCgage Insurance. If Lender required Mortgage Insurance as a coudition of making the Loan and Borrower was required to make separately designaYed payments toward che premiums for MorCgage Insurance, Borrower sUall pay the pramiums required t� maintain Morlgage Insurance in effect, or[o provide a non-refundable loss xeserve, until Lander's requirement for Mor[gtige Hisurance ends in accordance wiCh any wriCCen agraemenC between Borrower and Lender providing for such Cermination or until tern�ination is required by Applica6le Law. Nothing iu this Section 10 affecCs Borrower's obligaCion Co pay inCerese ar tlie xate provided 3n the Note. Mortgage Insurance reimburses Lender(or any entity that purchases the Note) for uertaln losscs it may incur if Bareowex doas not repay the Loan as agreed. Borrower is not a pnrty to the MorC�age Insuranee. Mortgage insurers evaluate their Yotal risk on all sucl�insurance iii force from time to ume, and may enter into agreemenCS with other partiea tlilt ahare or modify [heir risk, or reduee losses. These agreements nre o❑ ferms and conditions Cliat are satisfuctoxy to tl�e moxtgage insurer and �he oCher party (or parCies) to these agreements. These agreements may require the mortgage insurer to make payments using any source�f'funds tliat tlie mortgage insurer may have available (which may include funds obtained from Mortgage Insucance premiums). As a result of these agreements, Lender, any purchaser of the NoYe, anotlier insurer, vry reinsurer, any other enCity, or uiy affiliate oP any of the foregoing, may receive(directly or indirectly) tunounts that derive from (tir might be characCeri�xd as) a portion of Borrower's payments for Mtirtgage Insurance, in exchange for sharing or modifying the mor[gnge insurer's �isk, or reducing losses. If such agceement pmvides that an affiliaCe of Levder takes a share of the insurer's risk in exchange for a share oP tlie premiums paid to the insurer, the arrangement is oPCen termed '"captive reinsurance," llirther: (a) Any such ugreenieuts will npt affect the amounts that Borrower hus agrced to puy for Mortgage Insura»ce, or any other terms of the Loan. Such agrce�ncnts will not iucreuse tlie amount Borrawer will uwe for Mortgage Insurancc, and they will uot entitle Borirower to any reftmcl. (b1 Any sucl�agreemenEs will vot affect the rights Borrower has-if any- with respect to Che MorCgage Insurance mider tl�e Homeowners I'rotuctiun Act of 1998 or any oC6er law. Tliese rigl�te may include tl�e right to receive certain clisclosares, to request and obtain caucellation of thc Mortgage Insnrance, to have the Mortgage Insurance termivated automatically, and/or to receive a refuud uf uny MorCgage Insurance premiums that were nncarned at tlic tin�e u�such cancellatiou or Cermination. 11. Assignment of Mis¢ellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc hereby assigned to and shall be paid to Lender. Ii'the Property is damaged, sucl� Miscellaneous Pxoceeds shall be applied to restoration ar�epair of Che ProperCy, if the rastoration or iepair is economic211y feasible and L,ender's securiCy is no[lessened. Dtuing such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds unti7 Lender has had vi opportunity to inspect such Property to ensure the work hae been completed to Lender's 231�88 NEeRASKA-Single FemilY-Fennle MaelFreddie Mac UNIf-ORM INSTRl1MENT Form 302� 1/01 VMP� VMPtlINEI 1110GI Wolters Kluwer Financisl Services �eJe 0 0l i]