|
MAY. 29. 2013 3:O1PM WELLS FARGO HM MTG
<br />2 0 1 304339
<br />Na 8159 P. 30
<br />satisfaetIoe, provided that such inspection shall be undertaken promptly, Lender roay pay for the repro
<br />and restoration in a single disbursement er in a series of progress payments as the work is completed.
<br />Unless en 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 interact or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible of Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the shoes secured by this Security Instrument,
<br />whether or not than due, with the mess, 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, &attraction, or loss in value of the Property, the Miscellaneous Proceeds shall
<br />be applied to the mire secured by this Security Instrument, whether-or not then due, with the excess, if any,
<br />pail to Borrower.
<br />In the event of a partial taking. destruction, or loss In vsiue of the Property in which the fair ,market value of
<br />rho Property immediately before the partial taking, destruction, or loss in veluc is opal to or greater than due
<br />amount of the stuns secured by this Security Instrument iremediately before the partial taking, destruction, or
<br />lose in value„ unless Harrower and Lender otherwise agree ha writing, the sums secured by his Security
<br />Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the fallowing
<br />fraction: (a) the total amount of the stmlhs secured Immediately before the partial taking, destruction, or lass
<br />in value divided by (b) the fair market value of the Property immediately before the partial raking,
<br />destruction, or loan in value. Any balance shall be paid to Betrower.
<br />la the event of a partial taking, destruction. or loss in value of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or lose in value is less than the auraunt of the
<br />sours secured immediately bee= the partial taking, destruction, or loss iaat vim, wan Borrower earl
<br />Lender otherwise agree in writing, the MiseellAneons prods shall be applied to the sum aacured by this
<br />Security Instrument whether or not the sums are then due.
<br />If tine
<br />Property is abandoned by Borrower, of it after notice by Lender to Borrower that the Opposing Party
<br />(es defined in the next sentence) offers to make an award to settle a clai n for damages, Borrower fails to
<br />respond to Leander within 30 days after the date the notice it givean, Lender Is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or ro the sums secured by this
<br />Security Inatrtiwent, whether or not then duc. "Opposing Party" means the third party that owes. Borrower
<br />Miscellaneous Proceeds or the party against whom Borrower hoe a right of aetton in regard 'to Minoeilancooa
<br />Proceeds.
<br />Borrower shall, be in definite if any at tiota or proceeding, whether civil or criminal, le begun that, in Lender's
<br />judgment, could result En forfeiture of rile Property or other material impiirroe:nt of Lender's interest in the
<br />Property or rigour Under this Security Instrument. Borrower cam cure such a default 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 judgment, precludes forfeiture of the Property or otter material, impairment of
<br />Lender's interest in the Property or rights under this Security Inert-meat. The proceeds of any sward or
<br />claim for damages that are attributable to the impairment of lender's interest in the Property are hereby
<br />assigned and shall be paid to Lender.
<br />All Miscellaneous Pnoeerds that are not applied CO restored= or repair of the Property shall be applied, in the
<br />order provided for in Section 2.
<br />a1EaMaKA,4i.FIe I+,rnily M•arretehe Mac UMPORM IIVSTIUM1741"
<br />Wttat KIuwCe Finantip 5r t !
<br />05/29/2013 4:01PM (GMT- 05:00)
<br />VMPE NE {1506
<br />Page '0 Or 17
<br />
|