|
� 201206312
<br /> s�tisfaction, provided Yh�t such inepec6on shall be nndertaken promptly. Lender may pay for the repairs
<br /> and restoration in a single disUa�sement or in a series af progess pa}nnents as the work ie completed.
<br /> Unless an agrcement is u�adc in writing or ApplicablaI.aw rcc�iures intorost to be paid on sncli
<br /> Miscellnueous Proceeds, Leuder shal(tiot be required to pay Borrower any inlerest or earnings on such
<br /> Miscell�neotzs Proceeds. If the restoration or repair is not economically f'easible or Leuclar's security would
<br /> bc lcsscned, tl�o Mieccllanoous Yrocccds sl�all he�pplicd to thc sun�s securcd by this Secnrity [vstrntne��Y,
<br /> whether or not then dua, wifh the exoess, if nny, paid to Boirower. Such Misoell�neons Proceeds shall be
<br /> ap�lied in the order provided f'or in Section 2.
<br /> In the event of a Wtal taking, dest7uction, m�]oss in value of the Property, the Miscellaueoue Prooeeds shall
<br /> be applied to Yhe sume secw•ed by Yhis Security Instrument, whether or not then due, with the exceas, if any,
<br /> paid to Horrowcr,
<br /> In tihe event of apartial taldng, desn�uction, or loss in vahic of tho Yroperty in wl�ioh the fa�ir marlcet vetluc of
<br /> t1�e Yroporty iinincdiately bcfore the parfial tnlcing, destruoCion, or loas in vahte ia equ�l to or geaCer tli2n the
<br /> a�nount of the sums secured by thie Security Inst��mnent iviunediakely before Yhe partial Yaking, destruction, or
<br /> loss in value, unless Borrawer and Levder otherwiea agree in writing, the sums secured by this Secw�iiy
<br /> lustrutnent shaU be reduced by thc ainount of H�e Miseell2neous Prooeecls mulfiplied�6y fl�e following
<br /> fractiou: (a) the tol�til �mount of the sums seoured irrimediately before the paztial t�king, destrueriou, or loes
<br /> in v�lue divided by(b)the fnir merk�t value of tha ProperCy inunediately bafore the partial taking,
<br /> destrucYion, or loss in value, Any balance shall be paid to Borrower,
<br /> In Lhe evenC of a partial taking, destrncGon, or loss iu value of the ProperCy in which Yhe PAir market value of
<br /> Che Property immediately before tha p2rtial taking, destruction, or loss in value is less tlian the ainount o£the
<br /> aums secured iimnedi�ately before Uie partial taking, desh'uction, or ]oss in valuq unless Borrowcr ancl
<br /> Lander ot1�envine agrco in �m iti�ig, the IvIiscellaneous Prooeeds sha11 be a�plied to the aums seonred by thie
<br /> SecuriCy Ins[ruu�ent whether or not the sums are then dua.
<br /> If 11ie Property is abandoned by Borrower, or if', a£ter notice Uy Lender to Borrower tUat tl�e Opposing Party
<br /> (as dafined in the next senCence) offere to malw an�award to eettile a clain�for damag', Borrowcr faila 60
<br /> respond to Lender witivii 30 days aPter ihe d�1Ce lhe notice is given, Lender is anthorized to collect and apply
<br /> Che Miscellaaieons Prooeeds either m restar�tion or repair of'flia Property or Yo tlie sums secLued Uy this
<br /> Sectu'ity Instxuinent, whetlier or not khen dn�. "Op��osing Par6y" menns t�he fl�ird party thaC owes Borrower
<br /> Miscellaneaus}'rocceds or thc par4y against whom Borrower hfls A right of aotion in xegnrd to Miscellaneous
<br /> Prooeeds.
<br /> Barrowcr shall be in de�faull if any aotion or prooeeding, whether civll or criininal, is begun that, in Lender's
<br /> judgme�it, could result in t'orfeiture oi'tihe Property nr other maferial impainnent of I.ender's inEerest in the�
<br /> Property or rigl�t�s mider this Secw�ily]nstr�iment. Bc�rrower c�n oure suoh �ciefaiilC and, iP�cceleration hAs
<br /> oa;urrcd, rcinetlte as provided in Seotion 19, by oausing the acYion or proceediug to be dismiased with a
<br /> ruling that, in Lender's judgment,precludas f'or�Paiture of 71ie Property or ofher mntei�ial impaiiment of
<br /> Lender's intierest in the Property or rights m�der this Sccurity Ins6rumcnC, The procecda of any award or
<br /> olaim for damabes that are attributablo tin tho in�pairuient of I,ander's interest in the Property are hereby
<br /> assib��ed�tnd shall hepnid Co Lender.
<br /> All MiscellaAieotiis Proceeds fha�t ara not applicrl Co reslorafion or repnir of the Property shall be a�lied in the
<br /> order providcd for in SeeCion 2.
<br /> 24001506
<br /> NEf3RA5KFl-Single Familg-Fannie MaelFretldleMac ONIfORM INSTRUMMT Form 3028 1701
<br /> VM P(� VM P6(NE1(1105)
<br /> Wollers Kluwer Flnanelal 3eivlcea Pa90 f0 oi 17
<br />
|