|
��15��55�
<br /> sa��sfac�i�n, pro��ded that such znspe�t�on shall be under�ak�n prampt�y. Lender may pay for the repairs
<br /> and restaratian in a s�ng�e d�sbursement ar in a ser�es�f pr�gress payments as the work is completed.
<br /> Unless an agreemen� �s made�n wr�t�ng ar App�icabl� Law r��u�r�s in��rest to be paid on such
<br /> Misce�lan�ous Proceeds, Lender sha�� nat be require� t�pay B�rr�wer any interest or earnings on such
<br /> Misce��aneous Praceeds. �f�he restoratian or r�pair is nnt�conom�ca�1� feasible or L�nd�r's secur��y�vou�d
<br /> �e�essened, the Misce��ane�us Praceeds sha��be app��ed tt��h� surns secured by this Se�urity Instrumen�,
<br /> whe�her or na��hen due, with th�excess, if ar�y, pa�d t� Borrower. Such MisCellanenus Praceeds shai� be
<br /> appi�ed�n�he�rder pro��d�d f�r in Se�t�on 2.
<br /> In the event of a to�a1 taking, des�ruct�on, or Ia�s in�alue af the Praper�y, the Miscellaneous Pro��eds shal�
<br /> be appli�d to the sums secur�d by�hzs S�Gurity Ins�rument, wh��her�r nat�hen du�, v�ith th�excess, if any,
<br /> pa�d�n Barrow�r.
<br /> �n the�ven�of a partial tak�ng, des�ruct��n, or�oss in va�ue of�he Prnp�r�y �n whi�h the fair market�a�ue af
<br /> the Propert� imm�diate�y befflre�he partial �aking, d�s�ruction, ar��s� �n va�ue is equal ta ar gr�ater than th�
<br /> am�unt af the sums secured by�his S�curity Instrumen� �mmed�a��Iy bef�re the partia� �aking, destruct�on, or
<br /> loss in va�ue, un�ess Borrower and Lender otherw�se agree �n wri�ing, the sums secured by this Security
<br /> �nstrument shall b�r��u��d b� th�amount af the Miscel�aneous Praceeds mul�ip���d by�he fo��ow�ng
<br /> frac�ian: �a} �he total amount of�he�un�s secured immediately before the part�a��ak�ng, des�ruction, ar�oss
<br /> in�a�ue divided by �b}th�fa�r m�arket�alue of�he Property imm�diate�y befor�the partia� taking,
<br /> destruction, or�o�s in�a�ue. Any halance sha11 be pa�d tn Borrov�er.
<br /> �n the event of a par�ial taking, destruc�i�n, or�oss in value of the Property �n which the fa�r market�alu�of
<br /> the Praperty immediately before the part�a��aking, destruc�ion, ar lass in value�s Iess�han�h�amount�f the
<br /> sums se�ured immediate��r befare the par�ia� taking, destruc�ian, or�oss in�a�ue, unless Borrower and
<br /> L�nd�r��herw�se agr�e in v�ri�ing, the Mi�cel�ane�us Proceeds shal� be app�ied t� th��ums se�ured�y this
<br /> Secur�t��nstrun�ent vvh�ther or nat the sums are�hen due.
<br /> �f�he Proper�y is abandoned by Borr��v�r, or�f, af�er noti�e b�Lender to Borrnwer�hat the appQsing Part�
<br /> �as d�f�n�d in�he ne�t sen��n��} offers to make an award to settle a claim for damages, Borro�er fails �o
<br /> respand�o Lend�r wi�h�n 3�days after the date the notice is given, Lender�s autharized to coll��t and apply
<br /> the M�sc��laneous Proc��ds either to restoration or repair of the Property or ta�he sums secured by thi�
<br /> S�cur�ty �ns�rument, whether or n��then due. "�ppasing Party" means the third party tha�owe�BQrro�er
<br /> N��sce��aneaus Praceeds�r the par�y against whom B�rrov��r has a right�f ac�ion�n r�gard�o Mi�celianeous
<br /> Pr�ceeds.
<br /> Borrower shall be in d�fau�t zf any act�on ar pra�eeding, whe�her�iv�1 or cr�mina�, is begun that, in Lender's
<br /> �u�gment, cou�d r��u�t in farfezture af�he Praperty ar o�her materia� xmpa�rm�n�af Lender's in�er��t in the
<br /> Pr�per�y�r rxgh�s under�his Securi�y Instrument. Borr�wer can cure such a default an�i, �f a��e�eratian has
<br /> occurred, reinstate as provided in Sec�ian 19, by Causin�the act�on ar proceed�n���be d�sm�zss�d vvi�h a
<br /> rul�ng�hat, in Lender's judgment, prec�udes forfe��ure of the Prop�rty ar other material i�npairment of
<br /> Lender's interes� in�he Proper�y or r�ghts under�h�s Secur�ty Instrumen�. The proceeds af any avward�r
<br /> cla�m for damages tha� are a�tr�butab�e�o the impairment�f L�nder's�nterest �n the Prap�rt� are hereby
<br /> asszgned and sha��he paid ta Lender.
<br /> All Miscellaneous Proceeds that are na�app��ed�o res�oration�r repair of the Proper�y shal�b�appli�d in�he
<br /> order pra�ided for in Secti�n�.
<br /> N�BRA5ICA-Single Fami�y-Fanr�i�MaelFreddie Mac UNI�QRM INSTFtUMENT Form 30Z8 il��
<br /> VMP Q VMPfi�NEj��302}
<br /> Wolters Klt�wer Financia�Ser�i�e� Page 1 Q vf"i 7
<br />
|