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201503433
<br /> satisfaction, pz-ovided tb.at such inspection shall be undertaken pram�tly. Lender may pay for the repairs
<br /> and restoration in a single disbursement or in a series o£pzo�ess payments as the work is completed.
<br /> Unless an a�-eement is made in writing or Applicable Law requires interest to be paid on such
<br /> Miscellaneous�roceeds, Lendez-shall not be required to pay Borrower any interest or earnings on such
<br /> Miscellaneous Proceeds. If Yhe restarati.an or repair is not econoznically feasible or Lender's security would
<br /> be lessened, the Miscellaneous Proceeds shall he applied to the siuns secured by this Security Insiruz�;xexxt,
<br /> whether or not then due, with#l�e excess, if any, paid to Borrower. Such Miscellaneous Proceeds sizall be
<br /> applied in the order provided for in Section 2.
<br /> Iz� t}�e evez�.t of a tatal taking, destruction, or loss in valne of the Property, the Miscellaxfeous Froceeds shall
<br /> be applied to the sums secured by this Security�stz-ument, whether or not then due, with the excess, if any,
<br /> paid to Eorrower.
<br /> In the evezzt of a partial takirig, destruction, or loss in value of the Property in which the fair maxket value of
<br /> the ProperEy immediately before tha partial#al�ang, destruction, ar loss in�alue is equal to or greater than the
<br /> axxaouz�.t of the sums secured by this Security Instrument immedi.ately before the partial taking, destruction, or
<br /> Ioss in value, iu�l.ess Borrower and Lendex otk�erwise agree in writing, tiie swns secured by this Security
<br /> Instrument shall be reduced by the amount of#he Miscallaneous Proceeds multiplied by the foliawing
<br /> fraction: (aj the total amount of the s� secured immediately before the partial#aki�zg, destruction, or loss
<br /> in value divided by(b}tl�e£azr zna�rlcet value of the Froperty immediately before the partial taking,
<br /> destruction, or loss in value. Any balance shall be paid to Boz-�rower.
<br /> In the e�vent of a partial takirig, destru.ction, or loss in value o�tkze Property in which the fair market vaiue of
<br /> the Property immediately before the partial taking, destruction, or loss in value is 1e�s than the amou�.t of the
<br /> sums secured iixunediately before the partial�ng, desiruction, or loss in val�e, un�ess Borrower and
<br /> Lender otherw'rse agree in writing, the Miseellaneous Proceeds shall be appized to tl�e suxns sec�red by this
<br /> Secu.rity Izzst�rumant whether or not Ehe sums are then due.
<br /> If the Froperty is aban.doned by Sorrower, or if, after notice by Lender to Borrower that the Opposing Party
<br /> (as defined in the next sentence) offers to make an award to seitle a claim for davtages, Borrower fails to
<br /> respond to Lender within 34 days after the date the notice is given, Lender is authorized to collect and appIy
<br /> the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br /> Security Tnstrument, whether or not then due. "O}�posing�ariy" xxzeaz�s the third party that owes Borrower
<br /> Miscellaneous Proceeds or#.�e party agau�st whom Borrower has a right of action in regard to Miscel�axzeaus
<br /> Proceeds.
<br /> Sorrowez-sl�all be uz de£auJt if any action ox pxoceeding, whether civil or criminal, is begun that, in Lender's
<br /> judgment, could result in forfeiture of the 1'roperry or other material impairment of Lender's interest in the
<br /> Property or rights under tlus Security Instrtunent. Borrower can cure such a default and, if acceleration has
<br /> occurred, reinstate as provided in Secrion 19, by causing the aci�on or proceediz�g to be dismzssed with a
<br /> ruiing that, in Lender's judgment, precludes forfeiture of the Property or other material impa.iiment of
<br /> Lez�.der's zz�.tez-est in the Property or rigizts under this Secuxity�strunient. The proceeds of any award or
<br /> claim for damages that are attributable to the impairment of�,ender's interest in the Properry are hereby
<br /> assigned and shaJ.l be paid to Lender.
<br /> AII Miscellaxzeous�roceeds that are not agglied to restora�on or repair a£tb.e Properiy sha.11 be applied in the
<br /> order provided for in Section 2.
<br /> 24Q06622
<br /> fVESR45KA-Single Family-Fannie MaelFreddie Mac UKIFORM INSTRUMENT Form 3028 1101
<br /> V M P QQ V M P6{NE}(i 302)
<br /> Wv[ters Kluwer Fnancia]Services Page i0 of 17
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