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201206748
<br /> satisfac2ion, provided that suc�inspecTion shall be undertaken pxompfly. Lender�nay pay for the xepairs
<br /> and resioration in a single disbursement or in a series of progress payments as the work is completed.
<br /> Unless an agreement is made in wr3ting or Applicable Law requires interest ta be paid on such
<br /> Miscellancous Proceeds, Lender shall not be required to pay Bnrrou�er any interest or earnuigs on such
<br /> Miscellaneous Proceeds. If the restaratioi�or reyair is not economically feasi`ble ox Lender's szewity would
<br /> be lessened, the Miscellaneotis Proceeds shall be applied to the sutns secuted by this Security Instnvnent,
<br /> whether or not tLten due, with the excess, if any, paid to Bocrower. Such Miscellaneous Proceeds shall be
<br /> appliecl in the order provided for in SecU,on 2.
<br /> In the event of a total takin�, destruction, or loss in value of the Property, the Miscellaueous Proceeds shall
<br /> he applied to the stttns secured by this $ecurity Instnunent, whather or not then due, with the excess, if any,
<br /> paid to Borrower.
<br /> In the evcnt of a partial talting desuucuon, or loss in value of the Property in which the fair market valve of
<br /> the Property immediately before the paitial taking, destruction, or Ioss in value is equal to or greater than the
<br /> amount of the sums seccu-ed by this Security Instrument ixnmediately before the partial taking, destruction, or
<br /> loss in value, unless b�arrower and Lender otherwise a�ee in writing, fhe sums secured by this Seeurity
<br /> Instrument shall be reduced by the amount of tlie Miseellaneous Proceeds inciltiplied by the following
<br /> fraction: (a) the total amount of the sums secured immecliately before the partial taking, d�truction, or loss
<br /> in value divided by(b)the fau mazkeC value of the Property immediately before the partial talting,
<br /> dcstaiction, or loss in value. Any balance shall be paid to Borrower.
<br /> In the event Uf a partial takiqg, destruction, oa loss i�value af the Pxoperty in�vhich the fair mazket�alue of
<br /> the Pxoperty immediatel�befoze the partial takivg, destrucrion, or loss in value ia less than i�e ainount o£ihe
<br /> suxns secured immediately oefore the partial taking, destruction, or loss in vaiue, unless Bonower and
<br /> Lender otherwisc a�-ee in writing, the Nliscellaneous Proceeds shall be applied to flie sums secured liy this
<br /> Security Instnunent whether or not the sums are then due.
<br /> If the Properry is ahandoned by Borrower, or if, after norice by Lender to Borrower that the Opposing Party
<br /> (as defined in the next sentence)offers to make an awazd to settle a claim for damages, Bonower fails to
<br /> respond to Lender within 30 da.ys after the date the notice is given, Lender is authorized to collect and apply
<br /> the Miscellaneous Proceed.�either to restoration ar repair of the F'zoperry or to the sums secured by this
<br /> Security L�ctruwanf, whether or not then due. "Opposing Par[y"' means the thisd parEy t�,at owes Bosowex
<br /> Misceltaneous Proceeds or The party against whom Sorrower has a;ight of action in regard to Miscellaneous
<br /> Proceeds.
<br /> Borrower shall be in default if any action or proceeding, �hether civil or crinvnal, is begua that, in Lender s
<br /> judgnnent; could result in farfeiture of the Property or othcr tnatcrial iinpairment of Lznder's iuterest in the
<br /> Property or rights under this Security Instnunent. Borrower can cure snch a default and, If acceleration has
<br /> occurred, reinstate as pro��ided in Sec[ion 19, by causing Ehe action or proceeding to Ue dismissed with a
<br /> ruling that, in Lender's judgme¢f, pxecludes forfeiture of the Property or otl�er material impainnent of
<br /> Lender's interest in the Property car rights under tFus Security Instruwent The proceeds of any award or
<br /> claim fox datnages tbat ar�attT�butable to fhe impainnent of Lendex's intereS2 in hhe Pioperry are heteby
<br /> assigned and shall be paid to Lcnder.
<br /> All Miscellaneous Pioceeds that aze nt�t appiied to restoration.ox repair of the Froperty shall be applied in the
<br /> order provided far in Seetion 2.
<br /> 24001]83
<br /> NFERF,SKA-Single Fam�y-Fannie 1d aelFretltlie M ac UNIFO�A INSTRU M11 FNT Form 3028 1/01
<br /> VM P G� VM P6INE)(11 Q5)
<br /> WOCets Kluwe�Financiel Services Page ia o(t]
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