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, <br /> ��15�39�7 <br /> L�AN#: 33'14139�'� <br /> a���rn�.��rn�rtga��in�ur�r�el��t�d��L�nd�r.#f subsfiar��i��ly equi�al�n���rtga��Insura�ce c��erage�s <br /> na�avai��b��, Barra�r�r��all con�i�u���p�y�o L���er�h��n�����of�h��e�ara�ely d��ignated p��ments <br /> t��#►��r� du��f��n �he insurance �o��ra�� c�as�d �o b� in �f#���. Lend�r���i a��ep�, u�e and r�tai� <br /> �n��e p��m�nts as���n-��fun�a�le��s�r�s�r�r�ir� li�u af�ortgage�nsu�an��. Su�h �oss r������h�li <br /> b� non�r�fun�ab��, n��i�hs�ar�d�ng ��������h���he Laan is �l�imate�y �a�d in f�ll, �nd �.er�der sha�l no� <br /> �e re�uir���a pay B�rr��r�r�ny i���r�s��r earnings o��uc� �a��res�r�re. L�nder can na�ang�er r�qu�r� <br /> loss r���rv� p��rnen�s if�ortg�ge Ins�rance c��r�rag� ��r� �ne �rn�u�� and for��e �eriod �h�� L,e�d�r <br /> req��re�} p�avi��d by �n �nsu�e�s�����e� b� Le���r ag�in b�cam�� ���ilabl�, is o��ain�d, �nd L��der <br /> re��ir����par�tel�des�gn����pa���nt��o��rd�h�p��miun�s fa��1[o�tga���r�sur�nc�.�f Ler�d�r r�quir�d <br /> I�flr�g��e #�st�ra��e a� a ��nditior� af makir�� �h� L��r� �n� �3arro�rer�v�� requir��d �o m�l�e s�p�ara�e�� <br /> desigt�ated p��ments t��nrard ��� prem��r�� fa� 11�a�tgag� �r�surance, �3arr��nr�r s���l p�y t�� �r�n�iur�s <br /> reqt�ired �o �air��ain l'�ar�gag� In�urance �n ��fec�, or ta p�a�i�� � nc�n-refu�d�b�e fv�� �e�e��, ur��il <br /> L��der's r�qu�rem�ent for��rtg�g� ��suran���nds in a�cord���e�r��h an�v�rit��n agreem�n�be�we�n <br /> E��rrow�r at�d L�nd�r prov�ding fo�suc� ��rmina�ion or u��i� ��rm�nat�a� is �e�uir�d by Ap��i���l� L��. <br /> IV��h�ng [n �his��c�ion �� afFec�s ��rro�rer'�ob�i�a��o��o pa}� i���res�a���� r��� prov�d�d in��e �Vo��. <br /> Ma�t�ag�lnsur�nc�re�mburses Lender�ar�ny enti�����purc��s�s�h�N�te}for c�rtain�o�ses��r���r <br /> incur�f Borravver doe�nofi r�p�a�t�� L��n as a�re�d. Bvr�����is r�o�a����a the l�or�gag� ���urar���. <br /> ll�artgag� Insurer� ��a�uat� ����r �ata� ri�k on ��I such ir��u�an�� i� f�rc� frorn ��me �o �i�e, and <br /> nr�a� en�er in�o a�r�em�r��s�ri�h a�l��r part��s tha� sha�� �r mod�f� �he�r ri�k, ar reduc� lo����. Th�se <br /> agre�r�en�� ar� �n ��rr�� �r�� �ondi�ions �ha� �re �a��s�aG�ory �o �h� �no�tg��� i�sur�r �r�d �he ����r <br /> par�y �ar par�i�s} �o �hese a�g��emen�s. Thes� agr��m�n�� t�a� re��ir� th� mar��ag� i�tsurer�� rr�ake <br /> �ay�n�nts usin� ��y�au��e vf fur�d��ha�th� mor�g��� insur�r may ���e ��a�iab�� ��hic� ma� �n��ude <br /> funds ob�a�ne� from �i�lor�gag� lnsu�ance p��rni�n��}. <br /> A�a r�suCt of�h�se ag�����n�s, Lend��, �r�� purcha�er�f�he r��te, anafih�r in�urer, ��y reinsur�r, <br /> �n� o�h�� �n�i�, �r �ffili��e �af an� o�t�� for��a�ng, rna►� re��i�e �dir�c��y or i�direct�y} �mount� �h�� <br /> de�i�e fr�m ��r r�n�ghfi be charac�eri�ed ��} � par�ion af B�rro�er'S p��m�nts f�r�ortg��e I�sur��ce, <br /> in ��ch��g�for�f��ring or madify�r���he m��tg�ge ir�surer'� r�sk, �r r�ducin� loss�s. �f suc�a�reemen� <br /> �r���ded th�� �n affi�i��� �f Le���r ��k�s a �har� �f��e ins�ur��'s ��sk �r� ��cchange f�r � sh�r� ���h� <br /> pr�miums paid �o�h� ��sur�r, t�e a�ran���en�is af��n t�r��d "��ptive r��n�ur�n�e." ���h�r: <br /> ��� e4�� ��ch ��r����r��� �ri�� ��t ��'f��� t�� ���u�ts th�� ��rr�rn��r h�� �gr��� �� ��� f�r <br /> �I�r�gag����ur�r�c�,�r����t��r#�rnn��f�h�L���.S�c���r��m��ts�i����t���reas�������u�� <br /> B�rr�wer v9ri�i �rnr�for���g�r�� ���ur����, andl#���v�ril� �at er�tit0� E3Qr����r t�a�� r���u��. <br /> �1�� A�y such ��r�er�ent� �ri�� ��� a�f��� �h� righ�s ��rra►�v�r ha� - if a�� - ��th ����ec� �o <br /> ��e Ma����� I��ur���e u�d�r��� H�rr������e�rs F�r�tecti���,ct��'���S c�r�n� �ther d��. �'h�s� <br /> r�ght� ��� �n���uc�� tlh� r��h��a r����ye ��rt��n d�������r��, �� re���st a�nd ��b���r� ��n��l��t��� <br /> �f��� �I��g��� tnsu�����e� t� ha�r��h� ���gag� ����ran����rm�n���� �ut��at������, �r��I�r�� <br /> �����v� � r��ur�� o�'��� ���#���� t��ur�nc� �rer�n��ms tha���r� �n��r��d a������nne �f�u�h <br /> c�������t��� �r term�n���ar�. <br /> '�'�. Assi�n��n��f�II����Il�������r������; ���e��ure.�e��Mi��e�la����s�r��e�d�a��her�by <br /> assigned �o and sh��� be �a�d�o L�nder. <br /> If�he P��p�rt��s d�mag�d,such �i��ell�n�ou�Pr����ds s��l��e�pp���d��re��or��i�n o�re��ir vf <br /> the �'raper��, if��� �����r��ian ar r�pair���c�rromi�a�ly f�asi�le a�d �.�n�er's �ecuri�y is �a��e�s���d. <br /> Duri�g suc� r�pair and ��s�or����r� p��i�d, Le��er �h�ll have the r�gh� �� hofd su�h C�l�sc�l�ar��aus <br /> Prac�ed� until Le�der ha� had an opp�r�ur�i�� �o �nspect su�h P�ope�� �� ensure ��� �nrork ha� b��n <br /> c��pleted�o L��der'�satisfac�ion, pra��d�d�ha�s�ch �nsp�c�ion�hal� be un���taken pr-omp�ly. L�n��r <br /> may pa}� for�he r��air� and res�or��i�n ir� a sir�g�� di�bur��ment vr i� a series of pra��ess pay��n�� <br /> �� the v�ork �s co�p(���d. �n�e�s ar� a�reern�r�� is mad�e �n �rr��ing ar�4pp�icab�e L.a�r r��uir�s in��r��� <br /> t� �� p�aid ❑� �u�h �i����l�n��u� F�r��e�ds, Ler�d�r sh��� r�o��� r�q�i�ed �a pa►� Barra��r an� i��e��s� <br /> or earnings o� s�ch Ill��s�e��ar���us F�rac��ds. If th� r���or��i�n �r r�pa�r is no��canamica��y f��si�l��r <br /> Lender'��ecur�����ul� b�I�ess�n��,�he i�is�e�lan�ous Pr�ce�ds�h���be app�ied�o th��u��s��ur�d <br /> by ��[s ��curifi� lns�r��er�t, �het��r or no� then du�, �i�� �h� ex����, i�any, p��d �� Bar���r�r. Suc� <br /> �isc�llar�eous Pro���ds s�afl ���ppli�� i��h�o�d�r pra��d�d for in S�c�ia� 2. . <br /> in�hee�e�t�fa�ofaltak��g,�estru��i�n,or����i��a���o����Pr��ert�,���Misce���n�ausPrac��ds <br /> sh��l �� app�i�d �o �h� �ums s�c�re� �� ���s �ecur�fi� �r�s�rum�nt, �rhe�h�r or n�� t��n du�, vsri�� �he <br /> e�c�s�, if any, paid �v �3vrrawer. <br /> In �he e��n�of� �a�t�����king, d���ru��inn, ��ioss in ���u� af�h� Proper�y in�rhi�h ��e f���mark�� <br /> ��iu�e af�ne Pra�e�j i�m��d�a��l�r ��for� the p�r�ia1 ta��r�g, destrt�c��an, ar �oss �n �a�u� is equa� �o vr <br /> gre�t�r than�h��m�u���f�h��u�s s�cur�d b�this�ecurity �nstrum�nt�r�media�el� b���re�he parti�f <br /> t��i�g, �e��ru��i�an, �r�a�s in ��lu�, un�e�s E3orra��r and Le�der�ther�ise agr�e in �rriti�g, �h� �un�s <br /> s�cur�d �� �his ��cur��}� Ins�rum�nt s��ll b� red�c�d �� �h� �mou�� �f t�� [�i�����an��u� �roc��d� <br /> �u��ipii�� by �h� fa��o�ving fr�ct�an: �a} th� to��f a�ou�� af the s�r�s s�cured �m�ediat��� �aef�re �I�� <br /> p�r�ial��ki��,��s�ru���on,�rlas��n v�lu�divide�b��b}��efa��m�rk�tv��ue of�h�Prap�rty i�rr���di��ely <br /> bef�r���� �a�i����k��g, des��uc�ion, or l�ss �� �ai�e.��� ba�an�� �l��l� b� p�id t� ��rro�er. <br /> �r� �h� �ve�t�f� p��t�al�aking, d�stru��ion, �r�ass �� va�u�of t��e �'rop�i-�y ir�wh�c� ���fair m�rk�t <br /> valu�af�he f�rQp�� ir��n�di�t�l� bef�r�t�� partial�aking, de�tructian�, or lo���r��alue is [ess than fhe <br /> �E�3�AS�CA--Single Fami1�-_��nni�Il��elFr�c�c�ie�ac UI��F�R�lh��TR��i�Eh�T Fvrr�3�28'11�'� <br /> EE1ie Mae,Inc. 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