201109325 - Laserfiche WebLink

Browse

NOU-25-z011 15:26 From: To:818?74229960 P.9�z0 201109325 cantinuc to pay ro Leuder the amaunt dF lhc separately designated p�yments tHat were due when tl�e in8ur;�nCe ccyvc:rd�e eeased to be in effect. Lender will act;e�st, use and retain ehese payment,s as a non-refund�ble loss reserve in ti�u pf Martgage Insurance. Such loss reserve sh�ll be non-refund�ble, notwithstanding the fact that the L.oan is ultimatcIy �aid in Full, and Lcndcr ch�11 npt ric: rcyuic�ed tp pay Borcower any interest or. �artings ore sueh loss reserve. Lender ciw no longer require loss reserve payments if Mortgagc insuraace coverage (in the umpunt �nd for thC pericxl that [.,�nder rcquires) pmvidcci by an insurer selected by Lender again t�ecomes avaifable, is obtained, and Lender requires separately designated payment� taward the prenuums for M.artga.ge Insurancc_ IC t,cnder requirett Murtg�g� irt�u.r�nce as� � condition of makin� the L.ttan and Borrower was required to m,�ke separately designateci paymeats tawud the premiucns far Mortgage Insurance, Borrower �h311 pay thc prcmiums rCquircd ict m�intain M�rtg��C In,euranCe in effact, or to pravide a aon-refundable loss reserve, until Lender's requirement for 1Vlortgage Insurance ends in accordance with any written agreement between Barrcrw�:r and Lcnd�r pravirling fpr sueh tetmination �r until tcnninatian is requireii by Applicable Law. Not,hing in this Section lU affects �rrower's obligation tcy pay in�erest at the rate pruvided in the Note. Mortgage Insurance reimburses Lender (or any enti�y lhat purChases the Note) for cert. losses it may incur if enrr�w�r dc��s nnt rcpay tlie Loan as agreed. Borrower is not a party ro the Mortgage Insursnce. Mortgage insurers evaluate their total risk an a11 such insur.ance in force from time to time, and may enter intc? ag�ements with oth4r qar[ies that share ar .modify theie risk, or reduce losses. '�hesc agrcements ar� qn terms and canditions shat are satisfactdry to th� rnprtgage insurer and the other parry (or puties) to these �gr�men�;, '[7�c;se agt�cmcnts c�ay reguire the mortgage insurer to make payments using any sour�c af funds that the mortgage insurer may have available (whieh may include Eunds vbtained from Mortgage Insurance �remiurns). As a resuit of these agreements, I.ender, any pureh�.ycr �f th� Not�, anather insi�rer, wy reinsurer, any other ent'rry, or any affiliatc af any of the foregoing, m,ay receive (directly �r indirectly} a�nounts that dcrive fro�n (�r might be characterii�ed �) a}�c�rtion of Sorrower's payrnents far Murtgeg� insurance. in exchan�e i'nr sharing or modifying the mart�aga insurer's risk, vr reducin� losses. If such agreement provides that an. at�liate nf Lcnticr takCS a share of the insurer's risk in exc,hange for a share uf the prCmiumy �aid ta lhC insvrer, the urangement is often termed "caplive reinsurance." Further: {ay Any such a�reement� will not aff�ct the amounts thai Borr��wer h;� ;yGreed to pAy for Mort�ge Iasurancc, or any athcr tern�s af the Lc�an. Such Agreeme.vts will not increasc thc amount Br�rr�wer wi11 owe [nr Mortggge Insurancc, and they wilf not �nliUe Borr�wer to any refund. ib} Any such agreements will not affect the rig6ts Boerowcr has - iP any - with resp�t ta the Murtg:�g� [n.vurxnee under the I�amaawncrs Pr�tectfon Acl �rf 1J98 or;�ny other law. These rights may anrclude the r.i�ht t4 receive cert;�in di��:laxures, to request and obtain canoellation of the Martgagc Insurance, ta havc thc Moetgage Insurancc tcrmftu�ted autamatically, :�ndlor tp reteive a refund �rY �ny Mvrt�;ag� Insuran� premiums ih�t were unearned at the time of such cuncellatiou or teeminution. 11. Assignment of Miscellaneaus Proceeds; Forfeiture. All Misccll�neaus Prcx•,eeds ue hereby assigned to and shall be p�ud to Lender. If the Pr�i�Crty is c1�'�maged, such Misccllan�ous Proc�ds shall Y,c; appli�d to restarakion ar repair uf the Propeety, if the restoration or rep�ir is ecanomically feasible and L�nder's security is not lessened. During such repair and restaratian period, Lender sl�all have the right ro hold such Miscellanevus FroceECis untit I.ender ha.ti had an opponuni�y tn insriect sueh Property tp ensure the work h��s been completed to L.ender's NEBMSKA•9irq�lo Famlly FmNO Mng/Prplplq Ma¢ UNIht3RM INSTHUMENT Fcrm �028 i/Ot VMP � YMPd(NEy 19iQ5l.00 W�twp K�uWa� Flnenclal5ervlces Pope 9 ot � 7 11/25/2011 12:32PM (GMT-07:00)