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• 201207541
<br /> If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br /> Property, if the restorafion or repair is economically feasible and Lenders security is not lessened. During
<br /> such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br /> Lender has had an opportunity to inspec[such Property to ensure[he work has been completed to Lender's
<br /> satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs
<br /> and restoration in a single disbursement or in a series of progress payments as the work is completed.
<br /> Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br /> Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br /> Miscellaneous Proceeds. Ifthe restoration or repair is not economically feasible or Lender's security
<br /> �+ould be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security
<br /> Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous
<br /> Proceeds shall be applied in the order provided for in Section 2.
<br /> In the event of a total taking,destruction,or loss in value of the Property, the Miscellaneous Proceeds
<br /> shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,
<br /> if any, paid to Borrower.
<br /> fn the event of a partial taking,destruction,or loss in value ofthe Properly in which the fair market value
<br /> of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater
<br /> than the amount ofthe sums secured by this Security Instrument immediately before the partial taking,
<br /> destrucYion, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured
<br /> by this Security Instrument shall be reduced by [he amount of the Miscellaneous Proceeds multiplied by
<br /> the following fraction: (a)the total amount ofthe sums secured immediately before the partial taking,
<br /> destruction, or loss in value divided by (b)the fair market value of the Property immediately before die
<br /> paMial taking,des[ruction, or loss in value. Any balance shall be paid to Borrower.
<br /> In the event ofa partial taking,destruction,or loss in value ofthe I'roperty in which the fair market value
<br /> of the Property immediately before the partial taking,destruction,ar loss in value is less than the amount
<br /> ofthe sums secured immediately before the partial taking,destruction,or loss in value, unless Borrower
<br /> and I,ender otherwise agree in writing,the Miscellaneous Proceeds shall be applied to the sums secured
<br /> by this Security Instrument whether or not the sums are then due.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower[hat the Opposing
<br /> Party (as defined in tl�e next sentence)oft'ers to make an award to settle a claim for damages, 13orrower
<br /> fails to respond to Lender with in 30 days after the date the notice is given,Lender is authorized to collect
<br /> and apply[he Miscel laneous Proceeds either[o restoration or repair of die Property or to the sums secured
<br /> by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes
<br /> Borrower Miscellaneous Proceeds or[he party against whom Borrower has a right of action in regard to
<br /> Miscellaneous Proceeds.
<br /> Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br /> Lender s judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br /> interest in the Property or rights under this Security Instrument. Borrower can cure such a default and,
<br /> if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to
<br /> be dismissed with a ruling diat, in Lender's judgment,precludes forfeiture of the Property or other material
<br /> impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of
<br /> 4 '130429]001
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