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201207612
<br /> satisfnction, provided that such inspection shall be undertaken proinptly. Lender may pay for the repairs
<br /> � and resforataon in a single disbuzsemcnt or in a series o£progess paymenLa as the work is cqmplefed.
<br /> Unless an agreeinent is madz in writing or applicable Law requires inter�t to be paid on such
<br /> Miscellaneous Proceeds, Lender shall not be required to pay Bonower any inYerest ar.arnings on such
<br /> Miscellaneous Proceeds. If the restoration or repair is not cconomically feasible or Lendes's secL�rity would
<br /> be lessened, flie Miscellaneous Proceeds shall be applied ro the sums secured by this Security Instrutnent,
<br /> whether or not Lhen due, with the excess, if any, paid to Borrower. Such Miscelianeous Proceeds shall be
<br /> applied in the order provided Por in Scction 2.
<br /> In the event of a total taking, dest�-uction, or loss in value of the Property, the Miscellaneous Proceeds shall
<br /> be applied to the sums secured by this Sccurity Instrument, whether or not then due, wirh the excess, if any,
<br /> paid to Borrower.
<br /> In the event of a paztial taldng, destruclion, or loss in value of the Properiy in which the Pair inarkct value of
<br /> tlie Properiy unxnediately before the partial taking, destrucrion, or loss in vahie is equal to or greater than the
<br /> amouvt of the swvs secu�ecl by tlus Sccurlry Instrument immediately before the partial taldng, destruction, or
<br /> loss in vaiue, unless Borrower aud LendeL otherwise agree in wrifing, the sums secured by this Secwity
<br /> Insirument shall be reduccd by the ainount of the Miscellaneous Proceeds multiplied by ihe foll��ving
<br /> fractlon: (a) fhe total atnouut of the sum� secured iinmediately befpre the pasttal taking, destruction, or loss
<br /> in value divided by(b) the fair mazket value of the Property unmediately before the pazrial taking
<br /> deshuction, or loss in value. Any balanee shall be paid to Borrower.
<br /> In the event of a partial taking, desTruction or loss in value af the Property in tivhich the fair market value of
<br /> the Property iimnediately befare the pazrial t�kiag, deshuction, or loss 3n value is less than the amount af the
<br /> sums secured immediately before the partial taking, desUuction, or loss uz value, unless Borrower and
<br /> Lender otherwise agree in writing, I:he Miscelluieons Pmceeds shall be apylied to the sums secured by this
<br /> Security Inshument whether or not the swns are then due.
<br /> If fhe Proper[y is abandoned by Bortower, or i£, after notice by Lender to Borro�er that fne Oppos3ng Pazty
<br /> (as defined iu the next senteuce) offets Co make an award to settle a claim for damages, Bartower fails to
<br /> rzspond to Lender within 30 days af�er the date the notice is gicen, Lender is authorized to wllect azid apply
<br /> the Miscellaneous Proceeds either to restoralion or repair of the Yroperty or to the sums secured by this
<br /> Security Instrument, whether or not then due. "Opposing Party" means the third party Chat owes Borrower
<br /> Miscellaneous Proceeds or [he party against whoiii 13orxo�vcr has a right of action in regard to Nliscellaneous
<br /> Proceeds.
<br /> Borrower shall be in default if ury action or procceding, whether civil or criminal, is begun fhat, i'n Leudex's
<br /> judarmcnt, could racnit in forfcihu-c of the Property or other material impairment of i,ender'S interesY in the
<br /> proper4y ar rights under this SeGurity Instrumeat. Borrower can cure such a defaulf and, if acceleraiion l�s
<br /> occurrcd, rcinstatc as providcd ui Section 19, by causing the action or proceediug to be disinissed with a
<br /> ruling that, in Lender's judgnent, precludes foifeinue of the Property or other mateiial impainnent of
<br /> Lender's interest in the Properiy or rights under this Security Instrument. The proceed.s of any awazd or
<br /> claim Por daznages thal are attributable to the unpainnent of Lenider's interest in the Properly are hereby
<br /> assigned and shall be paid to Lender.
<br /> All Miscellanzous YroceecLs tha[are not a�plieci to restoration or repair of tlie Property sha11 be applied in the
<br /> order provided for in Section 2.
<br /> zaoozizi
<br /> N�RASK0.-S.ingie Famiiy-Fannie M ze/'rreddie A�ac ONIFORAI 1NSTRO M11�JT Fotm 3026 i 101
<br /> VM P� VM P6(NE)(1106)
<br /> Nlcl:ero Kluwe:Fnanclxl Services Page t0 oi 17
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