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. L <br /> 2� 1 ��4�39 <br /> L�AN#: DC3DN BG�41391'I 1 <br /> �l��rn��e m��gage insure�sel��ted�y L�end�er If�u�s�an�i���}�equ�v�����I��r#gage In�ur��c�cov�r� e i� <br /> � <br /> r�o�avail�ble, �3orr���r��all con��n��e�a pay�o L�nd�r th��r�a�r���f�he se���a�e�y��signa��d�aymen�� <br /> that��r� due v�nen �h� �nsur�n�e co�er�g� �eas�� �o be in �fi���t. ��nd�r wil� accep�, us� ar�d re��in <br /> ����e pa���n�s�a�a n�n-ref�ndab��lass r�s�r�e in �i�u of�for���g�Ir�su�ance. �uGh I��s r���nre�h��l <br /> be n�n-��fundab�e, not�ifihs�andin� �f����c��h���fi�� Lo�n is ultirr�a��ly paid ir� �ull, a�d L��rd���hal� no� <br /> ��requi�e�����y�orro��r�r���n��r���o���r�in�s on �uch I�ss r�ser��. L�nder c�n n�la���r r�q�ir� <br /> lo�� r����� pa}�rn�n�s if �lo�g�g� I�s�ranc� �o��r��� �in ��� �rr�oun� and for��� p�riod �h�� �.end�r <br /> re�uires} pr��i��d �y an �ns�r�r��le��e� �� L�nd�r ag�ir� becom�s �Wail�b�e, is o��a�n�d, and Len�d�r <br /> r��uir���ep�rat�f}�d�signat�d p�ym�r�ts�o�rard�h�p��miu�s��r�1lli�rtgage�n�uran�e:If Ler�d�r requir�d <br /> i��rtg��� ��s�rance as a c�n�i�ian a�r��kEn� the L�ar� �nd ��rro�rer�r�� r�qu�r�d �� m�k� .�e��r���ly <br /> d�sign�ted pa}�ment� �o��rd fihe �rem�ums f��- I�a�g�g� �n�uranc�, Borr�w�r��all pay t�e �r�e�iur�� <br /> r�quired to r��in�a�r� M��tgag� �nsuranc� �n �ffe�ct, o� f� pr�v�de a �an-r�f�ndab�� lo�� r�se��, un�il <br /> L�nd�r'� r�qu�rem�n�f�r�llortg�g� �n�urance e�ds in acGarda����ri�h any wri�t�n �greem���b�tweer� <br /> ��rrow�r at�d L��d�r pro��dir�g for such ��rm�nafi�n o� ur��i� �erminat��n �s r��utr�d b��p�l�cabl� L��v. <br /> �I�t��ng in fhi� S�c�i�n �� aff�c�s g�rra�r�r's ob�ig����n �a pa� in��r�st at�h� rafi� �r�uided in th� N���. <br /> �Illar�gag�I��ur�nc�rei�bu�s�s Lend�r�or�n��n�ifiy�h�t�urch�ses�h�No��}for cer�a�n�v�ses i�may <br /> incur if B�rrower doe� n��r�p�y fihe Loan �s agre�d. Barr���r is n��� ��rty�a th� ll�ort��g� ln�urar�c�. <br /> �Illor�gag� lnsur�rs e�r�lua�� the�� �ot�l r��k �n al� �uc� i�suranc� in ��orce from �irr�� �o �im�, �nd <br /> m�� �n��r in�� a�reen�e��s �vi�h afil��r partie� �hat �ha�� �r m�dify th��r risk, or r�duce i�ss��. Thes� <br /> �gre�r�e��s are �� t�rms �r�� �anditions �h�� are saf�sfa���r� �a �h� n�ar��ag� �ns�r�r �nd th� ��her <br /> �ar�y �ar�artie�} �o the�e �greemer�ts. The�� a�re�ment� �a� r�quir� �l�e ma�gag� i��ur�r�a m�k� <br /> pa�m�n�� using ��� source of fund��hat�he mor����� �n�ur�r may ���� availab�� ��hich ma� �nc�ud� <br /> funds �btain�� frv�n Mar�gage Insuran�e pr�m�u�n�}. <br /> �s� r�su��of�hese agr��rnen�s, ��nder, ar��r purch�ser of�he na��, �no�h�r insur�r, any r�insu�er, <br /> �ny �th�r �r�tit�r, or affi[ia�� �� �n� of th� fore��ir�g, m�� receiWe �di����l� or indire��l�} �mou��� �hat <br /> �de�i�� �`r�m �or �ni�h� b� charac��r���d as� a ���ion af Bor�a��r's paym�n�� �or �llortg��e ���uran��, <br /> in �xcha�ge for snarin�ar mad�fjiing th�m�rtgage in�urer's ri�k, or��d�cin� I��s�s. �f suc� �gr��m�n� <br /> �ro�ide� �h�� �n �ffilia�� of Lender tak�s a share of�h� insurer'� r��k i�t ���hange far a �hare �f�h� <br /> premium� p�id �o�h� �nsur��, the arr�ng�men���af��� fi�rme� "�aptive r��n�uran�c�." Fu�th�r�: <br /> {a� �r�� s�u�h ��r��me�t� ►�i II r��t �ff�ct t�� �r���nts th�t �arr��er h�� ��ree� ta ��y f�r <br /> ��rtga�e�nsu�r��c�,vr an�c�th�r term��af tF��L�an.�u�h�agreer��nt��ri I�nat incr�a��t��a���nt <br /> ��rrv�r�r�ill �v�e f�r�a�tg�g� �m��r�nc�, ���d they r��l� r��t�ntitle �orr��nr�r t���y r���r�e�. <br /> �b�} f�r�� such ��r��nnen�� �i�l r�c�t �ff�Gt ti�e ri�ht� ��rra��r h�s � �f ��� � �r�t� r���ect tc� <br /> t�� �or�g��� ��n�ur�r�c� �nd�r t�� Htam���r�ers P��t��tion��t�� ���� �r a�� ���er la�. Th�s� <br /> r�g�t� r�n�y in�lude th� ri�ht ta r�c�i�e ��r�a�ir� d��cl��ures, t� r�����t ��d abta�ir� Ga�c�i��tian <br /> c�f t���I�rtga�� [��ur��tG�� t� ����th��ll����g� I�sur�r���t�rmir�at��i �utom������1�, �ne�lar t� <br /> rec�i�� a r�fund af a�r�� �'a�rtgage �r���r�r��e �ar�r�i�ms th�� �►�re ur�e�rr�ed �t th�tirr�� r�f su�� <br /> ��nc���atiar� �r terminat��r�. <br /> �'i. ���ignr��nt vf ll�isce�l�n��a���ra���ds; Fc�rfeitur�.��l i�iscella��a��Pr��eed����her��y <br /> assigned �o �nd �hall be paid �a L�nder. <br /> If�i��F'rap��t� is damag�d, �uc� f''+liis��lla��ous Pr�ceeds s�al�be appl�ed��r�s�arati�n�r r�p�ir of <br /> the F'rap�r�, if�he ��s�ara�ion �r repai�-�s�c�n�����ll�fea�i�le and Len�er's ��curi�y is no� ���se���. <br /> Durin� such r�pa�� and r���ar���an peri�d, L�n��r s��l� ha�e the ri�h� �a hold �uch �fl'r���l�aneaus <br /> F�rocee�s un�i� Lender has had an app�r�u�i�y �a inspe�� s��h P�aperty �o ensure the �vark h�� b��n <br /> �vmpfe��d�� Le�der's�a�isfaction, pr�����d�hat such �n�pec��an��ali be und�r��ken pram��l�. L��d�r <br /> ��y pay f�r�h� repairs a�d �es�ar��ion �n a �in�le dis�ur�em�nt ar �n � ��ries of pragr�s� paym�nfis <br /> ���h�v�ork is c�mpl�ted, �Jnf��s �r� agr�e�en� �s r��de in �rri�ing �r�ppli�abl� La�v r�quire� �n�er�s� <br /> �o be p�id on such �is�eilane�u� Pro���d�, L��d�r��all nat be ��quir�� fio pay ���rov�er an� inter��� <br /> or earning��r� �uch �iisce�lan�o�s Pro�e�d�. �f fh� res��r��i�n or r��air is n��e�on�rn�c�[ly�ea�ib���� <br /> L�nd�r'���cur����roufd b��e�s��ed,�h�I���c�llane�us�r�c��ds shall be appli�d�o����um.s s�c�red <br /> by ���� ���ur��y ins�r�m�n�, �vhe���er or not then d��, �it� �h� exc�s�, if ar�y, p�id �a �orr��rer. �uch <br /> M�scei�an��u� F�roG��ds sha(� �e�pp��ed in the�rd�r pro�r�d�d for�n S�c���� �. <br /> in�he ev�n�of a���al��k�ng,�es�r�c�ian,�r�a��i�v�ft��of t�e P�ape�ty,�h�Misce��a��aus P��c�eds <br /> sha�l be �pp��ed �a �he sums se���ed by t�is S�cur��y Insfrum�n�, wh��h�r �r n�� �h�n d��, w��h �h� <br /> e�ccess, �f�n�, paid �o B�rra�►ver. <br /> In �h� e�e���f� partiaf��king, d��truc�i��, �r Ivss �n Walu� of t�� Prap�rty in �hi�h �h�fair rn��k�� <br /> valu� af�he Propert� i�mediate[y b�for� the pa�ia( ��ki�g, de�truc��an, �r lass ir� va�ue �� �qu�i ta �r <br /> gr������han�h�amaur�����h�sum�s��ured by fin�s���uri�� fr�s�rum�nt imr�ned�a��l�r befar��h� pa�ti�1 <br /> t�king, des�ruction, or ios� in v��u�, ur����� E3orrow�r and Le�d�r���er�rise agr�e �n �rritin�, �he sums <br /> s�cure� b� this �ecuri�y Ins�rumen� s�a�� be redu�ed b� �h� am�u�� �f�he N��s�e�la���us Pro�e�d� <br /> mul�ipli�d by �he follo�in� fr�cti�n: �a} �he to�af amflu�� a�th� sums secu�ed �mm�edia�e�� bef��e th� <br /> par�ial taki�g,destru��ian, �ar lass in value di�ided���b}fhe fa�r m�rk��va[ue afi�h��ro�e�y i�mediately <br /> befior���e pa�f�! �aking, destruc�ion, or lo�s �n ��lue.A�� b�l�nce���f� �e pa�d t� B�rr��er. <br /> !n �h� even��f a �arti�l taki��, d���ruc�ia�, ���ass in ualue of��� Property �n�r►rhich ��e fair m�rke� <br /> �ralu�af t�� Prop�rt� imm�diatel� befare th� partial�aking, des�ru�t��n, or Ios� �r��alue is I��s�h�n�h� <br /> NEB��A��CA--Singl�Fami��r--�Fannie iP��elFr�edd�e�ac Ui�IF�7RM INSTRU�iENT Form 3Q�8 11Q'1 <br /> Ellie Mae, inc. 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