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���1�7�4� <br />continue to pay to Lender the amount of the separately designa.ted payments that were due when the <br />;nc�*ance coverage ceased to be in effect. Lender will accept, use and retain these payments as a <br />non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, <br />notwifi.hsta.nding the fact that the Loan is ultima.tely paid in full, and Lender shall not be required to pay <br />Bormwer any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments <br />if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an <br />insurer selected by Lender again becomes available, is obtained, and Lender requires separa.tely designated <br />payments toward the premiums for Mortgage Insurance. ff Lender required Mortgage Insurance as a <br />condition of making the Loan and Borrower was required to make separately designated payments towazd the <br />premiums for Mortgage Insurance, Bonrower shall pay the premiums required to maintain Mortgage <br />In.sw�ance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage <br />Insarance ends in accorda.nce with any written agreement between Borrower and Lender providing for such <br />termination or until termination is required by Applicable Law. Nothing in this Section 10 afFects <br />Borrower's obligation to pay interest at the rate provided in the Note. <br />Mortgage Insura,nce reimburses Lender (or any entity that pnrcha.ses the Note) for certain losses it may incur <br />if Borrower does not repay the Loan as agreed. Borrower is not a parLy to the Mortgage Insurance. <br />Mortgage insurers evalua.te their total risk on all such insurance in force from tune to time, and may enter <br />into agreements with other parties that share or modify their risk, or reduce losses. These agreements ase 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 ma.ke payments using any source of funds <br />that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance <br />premiums). <br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other <br />entity, or any aff'�lia,te of any of the foregoing, may receive (directly or indirectly) amounts that derive from <br />(or might be cha.racterized as) a portion of Bonower's payments for Mortgage Insurance, in exchange for <br />sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an <br />aff'�Iiate 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 �s often termed "captive reinsurance." Furthar: <br />(a) Any such agreements will not affect the amonnts Ehat Borrower has agreed to pay for Mortgage <br />Tnsurance, or any other terms of the Loan. Sach agreements will not incresse the amount <br />Borrower wilt owe for Mortgage Insurance, and they will not entitle Borrower to any refund. <br />�b1 Any such agreements will not affect the rights Borrower has - if any - with respect to the <br />Mortgage Insnrance nnder the Homeowners Protection Act of 1998 or any other law. These rights <br />may include the right to receive certain disclosures, to request and obtain cancellation of the <br />Mortgage Insurance, to haoe the Mortgage Insurance terminated automatically, and/or to recei�e <br />a refund of any Mortgage Insurance premiums that were unearned st the time of such <br />cancellation or termination. <br />11. Assignmen# of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned. to <br />and sha11 be paid to Lender. <br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the <br />Property, if the restoration or repair is economically 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 Properiy to ensure the work has been completed to Lender's <br />NEBRASKA-Sl�le Family-Fannia Mae/Fraddie Mac UNIFORM INSTRUMENT Form 3028 1/01 <br />vMP � VMPB(NE) {� 7081.00 <br />Wolters Kluqrer Fir�rkial Servicas Papa 8 of 77 <br />