Laserfiche WebLink
201107752 <br /> continue to pay tio Lender[he an�oant oP the sep�traEely designated payments thac were due when tha <br /> insuiance coveraga ceasecl ta Ue in ePfect. T,ender will �ccept, use and retain Yhese paymenls as a <br /> non-rePLmdaUlc 1oss reserve in liau of MnrCgagc Hisurnaice. Such loss rescrve shall be non-refundnUle, <br /> notwithstanding the fact t1�at the Loaii is ultimately paid in full, tmd Lender shall not be required tn pay <br /> Boi�rower any interest or eamings on snch loss reserve. Lender can no longer requiro loss reserve paymenLc <br /> if Mortgage inetuvice coverege (iu Hie ainount and 1'or the period Hiat l.ender requires)provided by au <br /> insurer seleofcci by T.ender again beoomes available, is obtained, nnd Londer requires separa[ely dcsi�mated <br /> pa�yments towntd the prcmiums Por MorCgage Insuranco. if I,ender required Mortgage Iusurence as 1 <br /> condition oPmalcing the Loa�i and Rotrotver was required to mnke separately de�ignatcd payments townrd tho <br /> premiLims f'or Mort�age Insnranoe, ]3on ower shall pey the pren�iam� required to maineain Mortgage <br /> lnsuremce iu effect, or to provide a.nou-refundz�blo loss reseive, undl Lendor's requireinent for Morfgage <br /> Insur�nce ends in acoordancc�with �iy writtev agreernenl botween Borirower and Landcr provid'uig for such <br /> terminaCiou or until termination is rcquired Uy Applicable La�v. Nothittg in Y7�ia Section 10 affect� <br /> B�rrowei"s obligaCion to pay inferest aC thc rate providad in tlie NoSe. <br /> Matga�e Insttrauce reimUuraes Leixder(or;auy entity that purohases Shc Note) f'or certain losses it inay inctv <br /> if 13orrowor does not repap Uie Loan �s agreed. Borrower is not a pnrty[o the Mortgage Instu•anoe. <br /> Mortgage insurers evaluate tkeir total risk on all such iusurance in force �Lrom time fo time,and may enLOr <br /> into agreevients with otlier parties Y7iaY share oc modify their rislc, ar rednce lossos. These agreetnents ara on <br /> tiarms and conditione tl�at are satisfactory to tlie mortgage insurer and tl�e other p1r�y (or parties) tio these <br /> agreemeilts. These agreemenCS may roquire Uie moctgage insnrer tn malce pa�}nnenta iieing any source of funds <br /> that tl�e mortgAga insurer may have�vai]aUle (which inay inclnde fitnds oUtained from Mortgage Insurance <br /> ptemiun�s). <br /> As n rosult of tl�ese agreemsntsy Lender, a�ry purchaser of the Nofe, another insm�er, any reineurer, any other <br /> eutity, or any affiliato of any of the foregoi�lg, n2ay recoivc (clir�ecCly or indireoCly) amounts Chet deiive feom <br /> (or might be charncterized as) a portion of Borrower's payments for MorCgage Insurcmoe, in oxchauge for <br /> sharing or modilying tlie mortgage insurer's rielc, or reducing losses. If s�ich agreement provides that an <br /> affiliafe of Lm�der takes a share of the insurer's riel<ii1 exchange For a share oC thc preiniums�aid to the <br /> insurer, the nn�nugemont is often tenned "captive reinsurancc." Further: <br /> (a} Any sacli agceemente will noC affect the nmonnte that Bor�rower hs�s agreed to p2y fm� Mm•tgnge <br /> Insurance, or w�y ofher terme oP ft�e i,ua�i. Snch agreements will nut increnac the lmoimC <br /> Borrower will owe for Mortgage Lisnrance, and they will not entiCle Rorruwer to nny refimd. <br /> (b) Any auch a�•eeuient�s wi11 not affecf ILe righfs Rm•rowcr Itas -if any-wi}l� respect to tlie <br /> Mm�tgage Ta�surance nnder tlie IIomeawners Protection Act of 1998 or any oflier I�w. Tl�csc righte <br /> niay inclnde tlie riglit to receive certaui disclosiu�ce, to request xnd obtain eancellaCim� of the <br /> 1Vlortgage Ins�u•xncc, fo I�nve the iVlortgnge Iunw•niice tciminated automaticnlly, and/or to r-eceive <br /> a refintd aY any MorCgxge Instn�ance premiiims Giat were tmenrned at tLe Hme of snch <br /> cnnccllntim� or [ermin�fion. <br /> 11. Assignment of M iscellaneous Proceeds; Forfeiture. Atl Miscellaneous Proceeds arc hereUy assigned to <br /> and shell ba paid to Lender. <br /> If 11ie�Property is demaged, such Miscellaneous Prooeeds shall he app1ied to reswration or repair of the <br /> Prop�rry, it tlie restoratian or repair is economically�Peasible and Lendor's aeciarity is not lessened During <br /> auch repair and restoration period, Lendex ehnll havo tl�e right to]xold suoh Misccllaneous Proceeds imtil <br /> Lender has h�d �n oppor6unity fo inspeot suoh Property Co ens�ue the work has Ueen completed to Lender's <br /> 231101 <br /> NEBRA51(A-Single Family-Fennle MaelFredAle Mac UNIFORM IN6T2UM GNT Porm 302��101 <br /> VMP pp VMP6(NE)(1105l <br /> Wolters Kluwer Flnanclal5srvicea p¢qe o of 11 <br />