201405659 - Laserfiche WebLink

Browse

��14�5�59 �a} Any such agreements v�ill not affect the amaunts that Borr��er ha�agreed tv pay far Mortgage Insur��ce,�r an��ther terms v�the L�a�.Such a�reeme��s w�i�l not�ncreas�the amount Borrv�ver will owe fvr Mortgage Insurance, and they will nvt entit�e Borrower to any refund. �b} Any su�h agreemen�s will nat affect the rights Borrower has-if any-witb respec�to the Mortgage Insuranc�under the H�meawner�Prote�tiQn A�t�f 1�98 or any o�ther law.These r�ghts may includ�the r�ght to rec�ive certa�n dis�losures,to request and obtain cance�latian�of the Mortgage Insurance,ta have the M�r�gage Insurance terminated automati�aily,ancUor to recei�e a r�fund of any Mvrtgage Insurance premiums that were u�earned at the tin�e vf such ��n�ell�tivn vr t�rm�na#ion. � 1�I. p►ssignmentvf MiscelianeousPrviceeds;Fvrfeiture.All Miscellaneaus Proceeds are hereby assigned to and sha1�be paid t�Lender. i �f the Praperty is damaged,such 1VXiscellaneous Pra�eeds shall be ap�lied ta�esta�a��ion vr repair of the Proper�y, if the r��toration or repair is econam�ca�ly fea�ible and Lend�r's secur�ty is not lessened. During ! such r�pair and restorat�on.period,Lender sha��have the right to ho�d such Misce��aneous Pro�eeds until Lender has�ad an oppartunity to i�.spect such Property to ensure the wor��has been completed to Lender's satisfactian,pro�ided that such inspectian sha11 be undertaken promptty.Lender may pay far the repairs and restoration in a single disburs�ment or in a s�ries of progress payme��s as the�vork is completed.Unless an agreement is made in writing ar Applicab�e La�v requues interest to be pa�d an such Miscellan�ous Proce�ds, Lender shal�not be required ta pay Borrower any interest or earn�ngs on such Miscellaneous Proceeds. I�the r�st�ration ar repair is not econom�cally feasible or Lender's security would be l�ss�ned,the Misce�laneous Proceed�sha�l��applied ta the sums secured by th�s Secur�t�Ins�rument,wh�ther or not then due,�vith th� e�cess,if any,paid to Borrower. 5uch Mi�cellaneous Proceeds sha11 be applied in the order pro�ided for in 5ection 2. In the event�f a total tak��.g,destruction,or loss in value of th�Property,the Miscellaneous Proceeds sha1� be app�ied to the sums secured by this�ecurity Instrument,wh�ther or not then due,with the excess, if any, paid to Borr�wer. In the event of a partiax taking,destructian,or loss in va�ue af the Pr+operty in which the fair market valu�of the Prope�i�edia�el�before the p�artia�t�l�ing,�les�ruction,ar�oss�g�al�e is equ�1 ta or greater than�he amount of the su�ns secured by this�ecurity Instrument immediately before the partial taking,des�ruct��n�or loss in�alue,unless Borrower and Lender othenvi�e ag�ee in writing,the sums secured by this Security �nstrument shall be r�duced by the amaunt of th�IV�iscel�aneou�i'raceeds multiplied by the fallowin� fra��ion.: (a}the total am�un�of the sums secured imm�diate�y before the partial taking,destructx�n,or loss �n value divided by�b}the fa�r market value of th�Property immediately before the partia�fial�ing, destruction,or los�in value.Any balance sha11 be gaid to Borrower. In the ev�nt of a partial taking,destruction,or los�in value of the Property in which the fau marl�et value of the�'rop�e�y i�ediatel�before th�partia�tal�ing,de�t�uc�i�n,or�oss i��ralu�is less tha�n the amflun�v��h� sums secured immedia�ely before the partial taking,destruction,or loss�n va�ue,unl�ss Borra�ver and Leader otherwise agree in writing,t�e Mis�ellaneo�s Proceeds sha11 be app��ed to the sums secured by this 5ecur�ty�nstrument whether ar not the sums are t�en due, If the Property is abandoned by Sorrawer,or if,after notice by Lender to Borrower that�he�pposing Pa.rty �as defined in the next sentence)offers to make an award to settle�claim for damages,Borr�wer fails to r�spond to Lender��hin 3�day�ai�er the date the notic�is given,Lender i�auth�riz�d to co�lect and apply the Misce�Ianeaus Proceeds e��her to restoration or�repau of the Property or to th�sums secured by this NE8RA5KA�ingfe Family-Fannie MaelFr�eddie Mac UNIF�RM INSTRUMEIVT WlTN MERS Form 3428 1141 V�p� VMPBA�NE}[93�2}.OQ Wofters Kluw�r Financiai 5enric:eg Page�4 af 17 qo�33os11��9 oz�3 3zo lvi�