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<br /> satisfaction, provided that such inspection sha11 be undertaken promptly. Lender may pay for the repaus
<br /> and restoration in a single disbursemern or in a series of�rogr�s payments�s the wark is completecL
<br /> Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br /> Nfiscellaneous Proceads, Lender shall not be required to pay Borrower any interest or eamings on such
<br /> �Iiscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
<br /> be lessened, the Miscellaneous Proceeds shall be applied to the sums securzd by this Security Instrument,
<br /> whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br /> 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 Procceds shall
<br /> be applied to the sums secured by this Security Instnunent, whether or not then due, with the�cess, if any,
<br /> paid to Borro�ver.
<br /> In the event of a partial taking, destruction, or loss in�alue of the Properry in wluch the fair ruarket value of
<br /> the Property itnmediately befoxe the partial taldng, destruction, or loss in value ie equal eo or greatex than the
<br /> amount of the sums secured by ttiis Security Instrument iuunediately before the partial t��lang, des�uction, or
<br /> loss m value, wiless Borrower and Lender othera�ise agree in writing, the smns secured by tlus Security
<br /> Instrument shall be reduced by the amount of the Miscellaneous Proceeds mulriplied by the following
<br /> fraction: (a)the total amount of the sums secured immediately befare the partial taking, destiuction, or loss
<br /> in value divided by(b)the fair market value of the Properiy imiuediately before the paztial taking,
<br /> destruction, or loss in value. Any balance Shall be paid to Borcowa.
<br /> ln the event of a partial takuig, destruction, or loss in value of the Propetty in which the fair market value of
<br /> the Property immediately before the partial taking, deshucrion, or loss in value is less than the aznount of the
<br /> suins secured'unmediately before the partial taking, deshuction, or loss in value, unless Borrower and
<br /> Lender otherwise agree in writing, the Miscellaneous Proceeds sha11 be applied to the swns secured by this
<br /> Security Instnunent whether or not the suxns aze then due.
<br /> If the Property is abandoned by Borrower, ar i� after norice by Lender to Bonower that the Opposing Party
<br /> (as definefl in the next sentence) offers to make au award to settle a claim for damages, Borrower fails ta
<br /> respond to Lender within 30 days after the date the notice is�iven, Lender is autharized to collect and apply
<br /> the Miscellaneous Proceeds either to restoration ar repair of the Properry or Yo the siuns secured by tlus
<br /> Security Instrument, whether or not then due. "Opposing Party" means the third parry that owes Borrower
<br /> Miseellaneous Proceeds or the party against whom Borrower has a right of action in regazd to Miscellaneous
<br /> Proceeds.
<br /> Boaower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br /> judgment, could result in farfeiture of the Property or other material impairment of I,ender's interest in the
<br /> Praperry or rights under this Security Instrument. Bono�ver can cure such a dcfault and, if acceleration has
<br /> occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br /> ruling that, in Lender's judgmeut, precludes forfeiture of the Property or other material unpairment of
<br /> Lender's interest in the Property or rights under this Security Instroment. The proceeds of any award or
<br /> claim for damages that aze attributable to the impairmern of Lender's lnterest in the Property aze hereby
<br /> assigned and shall be paid to Lender.
<br /> All Miscellaneous Proceeds that are not applied to restoration or repair of thz Property shall be applied in the
<br /> order provided for in Section 2.
<br /> z�ooaons
<br /> NE9RNSKASfngle Fanily-Fannie M aefRetldie Mac UNIFORh1 INSTRUMENT Porm 3028 V01
<br /> VMP�y VMP6(NB(1145)
<br /> Wolters KWwer Financial Services Page 40 of 1]
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