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201108345 continue Co pay to Lcnder the amounC of tlie aeparately designated payments thak were dtie whcn tlia insurauce covernge ce�sed Co Uc in offect. Lender will accept, use and retain tliese payments as a non-refundable loss reaerve in lieu of M�rtgage Uisurazice. Such loas reserve shall be non-ref'undable, nc,tw'rthstanding the faoC that the Lonn is ulCimatcly paid in fixll, and Lender shall not be required to pay Bori�owor any interest or ea�'nings on such loss reserve. Lender oaai no longer requiro loFS resorve payinents if Mortgnge visurance coverage(in the amount and for the porio�i that Lender requires)providcd Uy an insurer selecYed by Lender again Uccomes availaUle, is oUtained, and Lender requires septuately desigvated payutents toward the premiums for MorCgago Ir�ew�anca. PP Leuder requireci Mortbage Inswazice es a oondition of m�ilcing tlxe Loan and Borrower w�s required to make separAtely deai�ialed payments toward the premiums for Martgagc InsLU�ance, Rorrowar shall pay the prrnniums required to maintein IYfortgagc Instiiranoe in effect, ar to providc a non-rcfimdablo lose reserve, timCil Lendar's requiremeiit for MorCgage Insurance ends in acwrdance with auy wtitten agreemenC bctween Borrower nnd Lender providing for such Yermination or un�il termination is required by Applicabie Law. Not:hing in tlus Section 10 afl'ects Borrower's obligarion to pay inTCre,et at the rats provided in the Noee. Mortg�ge Inai�ranco rcimhutees Lendar(or any enrity thaf pti�rchas�s the NoYe) for certain losecs it may iuciu i4'Borrower does noi re�ay thc Loan ae agreed. Borrower is nok� party to the Mortgage Insurnnw. Martgage insiu�ers ev�luate tl�eir total risk on all such 'vlsiu�neo in force from time to tin�e, anci n�ay entor iuto agreements with other p�r6ic.a il�at 5hare or modify Yheir risk, or reduw losses. Theae agxeements are on ferm� and oonditions that are sa6efnctory to Che mortgage insmer 1nd the other party(or parties}tio these agreements. 17i�o abrcemeirts may reqtrire�the mortgage ivsurer to make payinents using any sotiirce of funde tha�ti tihe mortg�ge itisurer n��y l�avc available(wluch m�y include funde obtainEd from Mortgage uisurance �1"qi]11Ull1S�. As a restilt of Yhese agreeinenfs, Lendor, any pm•chaser of the Nnte, �vother insurer, any reinsuret, nny other entity, or any affiPia�tie of tuty a£the foregoivg, may receiva(clirectTy or inclirecHy) amouuts that darive ff•om (or nught Ue cl�aracterized as) z portion of Bormwer's payments for Mortgage Insurancc, in cxchauge for sharing or mociifying thc moitgnge insurer's riek, or reducing losacs. If snch agreement provides Chat zm affilia�te oF Leuder telees e sh�re of tlie insurer's rtsk in excl�ange for a ehace of the preinimns paicl to the u2surcr, thc arrangeuient is oPten termed "capCivo rcinsurance," Fw�Cher: (a) Any sncl� agreementy will not nffecC Clte amomtts t1iaC 13mruwer lt�is agreed to pay for NIortgage Insnrance, nr any otl�er Cenns of the La�u. Sneh agreements will nol:increase the nmom�t ftorruwer will owc for lalm�tgage In�arance, and they wfll not miCiYle Borrower to Any refm�d. (b) Any sueli n,grccmenYs will noC 1fPecC Che rigl�ts Borrowcr l�as-if any- with respect ko thc Morfgage I�is�u•v�ee tuidcr tlie IIomeo��ers Vrokection Act of 199$or any ol7�er law. Theee»ghte may inchide tl�e right to receive ecrEain disclosm•ea, Cn request n�d obYain cancellnCiou of the Nlortgage fiism�ance, to liave the MorEgage Inenrnuce Ieeminated antmnatically, and/or W receive x �•efimd oP an,y Mortgnge v�si�rauce premimne that were nnearned aC the time o1'simh cancella6on ur termin.ition. 11. Assignment of M iscellaneous Proceeds; ForFeiture. All Miscell�neous ProceeCls arc l,crcUy assigned to uid shall be paid Co I,ender. If the Pioper[y i�e dainagcd, snch Miscellaneous Proeeeds shall bc a�iplied to restocation or repair of tl�c Property, if the restorn[ion or repair is economically feasiUle nnd Lender'a security is not lessened. During such tel�air and resCoration p�riod, Lender shall hpve Uie righti to liold such Miscellaneous Proceeds until Lencier hns haid an oppoi�huuCy to inspect such Property tv enstu'e the work hes been comploted to Lander's 231203 NGORASICA-SIn91e Famlly-Fennle M ae7Fietl�le 41ac IINIFORId INSTRUM FNT Form 3029 1701 VM F OO . VM P6(NF,)(1106) Wolters I<luw er Flnanclal Services . Pane fl of 1]