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201201995
<br />As a result of these agreements, Lender, any gurchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any aff�liate of any of the foregoiag, tn�y receive (directly or indirectly) amouats that
<br />derive from {or might he char�cter�zed as) a portion of Borrower's pay�tents for Mortgage Ins�uance, in
<br />exchange for sharing or �difying the mortgage insurer's risk. or reducing losses. If such agreement
<br />provides that a� affiliate of Lender takes a share of the insurec's risk in exchange for a share of the
<br />premiwns paid to t�e insvrer, the arrangemenx is aft� ternaed °captive reinsvrance." Furtlter:
<br />{�) Any sach agreeme�nts will uot afFect the amounts that Borrower has agreed ta pay far
<br />Mortgage Insurance or an� other t�ns of the Loan. Sach agreements �eiA not �ncrease the amo�unt
<br />Borrower w�illll owe for Martgage �nsui'a�ce and they will not entitte Bc►rrow� to aEex reflund.
<br />(b) Anp such �greements w�1i aot affect the rights Borrower �as - if any - mth respect to the
<br />Mort�age Insurance under the Hom��rners Protee�ion Act of 1998 or anp ot�►er Iaw. 1�ese rlghts
<br />map fnclude the right to receive �rtain d►s�los�uss, to reqnest and obtai� eance�lation of the
<br />Mortgage Insurance, to laave the Martgage Iasurance t��ted automatically, aad/or to rev�kve a
<br />refuud of soy Mart�age 3nsurance preminms that w�re une�rned at the t'rme of such canceIIa�ion or
<br />ter�t�nation.
<br />il. Assigament of Mi�sceUan�u� Proce� Forfeitpre. .All Miscellaneous Proceeds are hereby
<br />assignesi t� and shaIl be paid to Lender.
<br />If the Property is ctainaged, su�h Misce2i�us Proceeds shatl be applied to restoratfon or repair of
<br />the Property, if th� restoretian or repair is econo�ically feasble and I.snder's s�curity is not iessened.
<br />During such repair 2r►d restoratioa period, Lender shall liave the right to hold such MisceAan�us Proc�eds
<br />uaril Leader has had an opponunitp to inspect such Property to ensura the work has been completed to
<br />Lender's satisfaetion, prpvided that sach insp�ction sltall be undertaken promp8y. I.�ader maq pay for ths
<br />repairs and restorarion In a sin;le d'zsbursement or in a series of grogress payuxents as tUe work is
<br />completed. Unless aa agree�nt is made in writing or Applicable Law requires inteiest to be paid on such
<br />Miscellaaeous Proceeds, Lender �hall not be required to pay Borrower any interest ar earnings on such
<br />Misr,�ilaneous Proceeds. If the restoration or repair is not econo�cicaIlp feas�Ie or Lender`s s�urity would
<br />be lessened� the Miscetlaneflus Proceetls shall ba spplied to the sums se�ured by this Secarity Insmunent,
<br />whether or not then due. with the excess, if auy, paid to Borrower. Such Miscellaneous Praceeds shall be
<br />a�plied in the order pmvided for in Sectioa 2.
<br />In the eve� of a iota[ taking, desiruction, or loss in vaiue of the Property, the Miscellanews
<br />Proceeds shall be appliai to the sums secured by this Security InstrUment, whether or not then due. �vith
<br />the ex�ess, if any, paid to Borruwer.
<br />In the event of a partial taking, destniction, or �oss iu value af the Prapeny in whieh the fair markei
<br />value of the Property immediately before the partial taking, desfsuction, or loss in value is eq,ual to or
<br />greater thaa the amount af the sums secured by tttis Security Instnunene immsdiately before t� partial
<br />ta�ng, destruction, or loss in value, unless Borrower aad Lendex othenvise agree in writiag, the sums
<br />secured by this Seazr�ty Instrument si�all be redueed by the amaunt vf the Miscellaneaus Pr�eeds
<br />multipited bp the following fraction: (a) the tatst amaunt of i�e sums s�cured ia�mediately before the
<br />partial tal�fng. destruction, or lass i.n value divided hy @) t�e fair m�rrket vaiue of the Progerty
<br />i�nediatety before �e partial takkiuig, destruction, or loss in value. Any balance shall be �aitl to Barrower.
<br />In the event �f a paraai taking, destruction, or loss in value of the Property iu wIuch che fair market
<br />value of ihe Froperty imrnediatelp before the partiai taking, destruction. or ]oss in value is less thaa the
<br />amount of the sums secured immediately tlefore the partial taking, destiuccion, or loss in ealue, unteas
<br />Borrower and T,ender otherwise agree in writing, the Mis�cellaneous Fror.e�ds shali be applied to the s�ms
<br />secured by this Se�urity Inst�rmenc wheTher or not the sums are fhen dae.
<br />If the Progerty is abaudoned by Bornower, or if, after aotice by Lender to Borrower that the
<br />Opposing Party (as defin� iu the nexc seatence) offecs to make an award to settle a elaim foc damages,
<br />Borrower fails 4o respon� to Lender within 30 days after t3ie date the notioe is givea, Lender is authorized
<br />to collect and apply the Miscellaneous Proceeds either to restoration or mpair of che Property or to the
<br />sume secured by this Seau�ity Instn�ment, wheiher or not then due. °Opposang P�rty° means the t�ird P�Y
<br />that awes Borrower Miscellane�US Proc�is or the PartY against whom Borrower has a right of a�cEion in
<br />regard #A MiseeIlan�us Proceeds.
<br />Borrower shall be in default if any action ar proceeding, whether civil or eriminal, is beg�m rhat, ia
<br />Lender's judgment, could resait in forfeit�re of the Fropertq ar other r�terial inzpairnbeat of L.ender`s
<br />interest in tbe Praperry or rights under this Se�urity instrument. Borrower can cure such a default and, if
<br />(� -6(i{NEl t0oos�.o� � s � ts
<br />�
<br />� Form 3028 1/01
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