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2� 1 ��7853 <br /> 4 <br /> t . <br /> L�AN#: P�321 X'i��947888 <br /> a��ernat�mortga�e�ns�rerse��c�ed�y L�n���!f substar��ia�i�equ��alen�Ill�o�tgage ln�urance cvverage is <br /> �ot available, �3arra�rer shai�contin��to p���o Lender�he amaunt of�he separa��ely desi�na�ed payme�ts <br /> �ha�v�er�e d�e�h�n �h� �nsurance co�rerag� �eased �o be in eff��#. Lender�ill a��ept, us� �n� r�ta�n <br /> ����e p�ym�n�s as a r�vn-��fundab�e�oss�es���in li�u af�flrtgag�Ir�suranc�. 5u�h fass r�s�n�e shall <br /> �e �on-ref�ndabl�, no�iths�anding the fa��tha�th� Laar� is ul��ma�ely pa�d �n fuil, and Lender shail no� <br /> ��req�ir���o pay�orrQwer any infie�es�ar�arning�on such ioss rese��. Lend�r can na�onger requ�re <br /> loss res�rV� pa�ments if 11�ar�gage Ir�surance cave�age ��n �he ama�n�and for��e per��d ��at L�nd�r <br /> r�qui��s} prv�i��d b�l an insurer seC�c�e� �y L�r�der again b�comes a�ailab�e, is �btained, and Lend�r <br /> ��q�ires separa��ly de�ig�ta��d pay�en�s tow�r��he p�e�i�ms far M��tga�e�nsuranc�.If Lender r�qu�red <br /> �or��age lnsurance as� c�ndrtion �f making the Laan and Sorrower�vas ��qu�re� t� make se�arate�y <br /> d�sigr�a��d paym�nts �ov�ard the premi�ms f�r ll�or�gag� �n�urance, Borr����sha�i pa}��he �r�mium� <br /> re�ui�e� to mainta�n N[�r�gage I�su�anc� in �ff�:ct, vr �� pr�v���e a nan-refundab�� �oss res�rve, un�i� <br /> Lend�r's r�quirem�n�fo��or�gag� lnsur�nc�ends in �c�flrdan��vui�h �ny writ�en agreemen���t�een <br /> Bo�ro�er and Lender pro�ridi�g for such term�natian or �nti� term�nat��n is regu�r�d by Appl�cabi� La�. <br /> hloth�n� �n �hrs Sec�ion 1�afF�c�s B��row�r's obliga���n�o pay �n�er�s�at�he r��e pro�r�ded in t�e hlate. <br /> 11li��gage Insu�-an��r�imbt��ses L�nder�or�an�en�i�y�ha�p�rchases the Na���far c�rta�n la�ses i�may <br /> �r�cur if Bvr�o�e�does not r�pay�he L�an as agr��d. BQrro�er is no�a part��v�h�N�or�gage lnsurance. <br /> �tliartgag� �n��r�rs ��alua�e �heir �o�al risk an all such insurance in forc� fram t�me fia tim�, and <br /> �ay �n�er �r��a a�re�men�s�i�� a�h�er parti�s �hat shar� or m�d�fy �heir r�sk, �r �educe �asses. Th��� <br /> agr��m�n�s a�e on ��rms and ��ndi��ons �ha� ar� sa�isfactor�y �a th� �ortgage insurer ��d �he ��her <br /> par�y �or pa�ies} �a �hes� agr��mer�fis. Thes� agre�m�nts may requir�th� mar��age �ns�rer�� make <br /> ��}�ments using any source of f�nds�hat the r�nor#�age insurer ma� ha�r�a�a��able €which may inc�u�e <br /> fun�s obtain�d frvm �If�or��a�� Insurance pre�iums�. <br /> As� r�sult of thes�a��eemen�s, Lender, any purchaser af�he nflte, ano�her�nsurer, any reinsu��r, <br /> any o���r en�'r'�y, or affi�ia�� of any of��� fore�oing, may receiv� �d�rec�l� or �ndirec��y} amoun�s �ha� <br /> - d�ri�r� from ��r might be chara�ter�zed as} a por�i�n of Borr��r�r's paym�n�s fvr�1!!o�#gage insuran�e, <br /> in exchange f�r shar�ng or modify�n�th�mor�gag�insurer's risk, vr r�ducin� I�ss�s. If such ag�eemen� <br /> pro��ded that a� aff��ia�e of L��der tak�s a shar� of�h� insurer's ��sk in exchang� far a share �f th� <br /> prem�ums paid �a�he insur��, the arrangem�n��s ofte�term�d "capt�ve re�nsurance." Furthe�: <br /> �a� �ny �o��h �gr��ments ►�v��� �at affect the amour�ts that Borror�►er �as agreec� t� �a� ��r <br /> �ort��ge�nsura�c�,o�an�otherternns�f th�Laan.�u�ch agre�ments�v�11 n�t�ncrease the�mount <br /> Barro�er w�[1 v�re far i9��r�g�g� Insuranc�, and th�y�il� n�t e�titi��orrQv��r t�any refur�d. <br /> �b� �4,n� su�h agr��ments �v�1� nat affe�t the rights B�rro►�ver has - �f an� -��t� �esp�ct to <br /> the I�I�rt�age �ns�ranc� ur�der the H�mea�+rners �ra�e�tian A��of�99S or�ny at�er�a�. These <br /> �igh��s rrnay inc�ud� the right ta rec���e �ertain dis�i�sur�s, to re�u��t and abta�r� can�e�latiQn <br /> of the �ortga�� �n�uran�e,t� have th� M�rtgage �nsuran�e terminate� a�t�mati�ali�, and��r to <br /> �ec�iue � r�fu�d �f any �'�lor�g�ge lnsurance �rem�ums that w�r� une�rned at th� t�me of such <br /> canc��I�tEon �r term�nation. � <br /> 1'[. �4ss�gnment of I�i�ceilan��us P����eds; Forfeiture.�il 111��sce�la�e�us Proceeds a��here�y <br /> assign�d �a and shal� b� paid ta Lender. <br /> lf fih�Pr�pe�i�darnag�d� suc� �iscellar�eou�Prvc�eds shal!be applied��restnra�ian ar r��air af <br /> �h� Property, �f t�� restoratian �r�epa�r�s�cvnam�cal�y f�easible and Ler�de�'s security is not I�ssened. <br /> Du��n� su�h repair �nd r�sto�ation �e��ad, Lender shall hav� the righ� �a hvld such I�is�ellaneous <br /> �roce�eds un��� L�nd�r has had an �pportunity �a �nspect such Prap�r�� ��a en�ure �he �rork has been <br /> c�rnplet�d�o Len�er's sat�sfactian, p�vvided�hat s�ch insp������sha�l be un�e�tak�n prom�fly. Lend�� <br /> r�ay pay far��� r��airs ar�d r�s���a�ion in a singi� disburs�ment o� in a series of progr��s payrr�ents <br /> �s fh��vr� is �a�npleted. �Jnless an agr�em�n�is mad� in �rri�ing or Appiicable La�r�quires inter�s� <br /> �o be pa�d on such �lliscellane�us P�a�e�d�, L�nder shal� r�ot b� r�qui�ed to pa� Borro��r any int���st <br /> or earn�ngs on such Ilf��scel�aneous Praceeds. �f�he r�s�or���on vr r�pair is no�econamica��y feasible ar <br /> Lender's securi���rauld b���ss�n�d,�h��llis��llan�aus Pr�c��eds shal�be appl�ed�o the s�ms se�ured <br /> �y �h�s S��urit}� �r�st��m�nt, �►rhet�er or na� �hen due, v�i�h �he exc�ss, if any, paid �o Borrvv�rer. 5uch <br /> �1lisc��laneous Pr�ceeds sha�f be a�plied in th�o�-d�r prr�r��ded for�r� Sectian�. <br /> �n�he even�of�����1 tak�r�g,d�s�ructi�nr or f�ss i�va�ue af th�Propert�,�h��isc���an�ous F'rvice�ds <br /> shall b� ap�li�d ta �he sums secur�d by this S�cu��ty Ins�rument, whe�h�� a� ��t �hen du�, �►i�h �h� <br /> exc�ss, if any, paid �a B�rro��r. <br /> In �h�e�en�of� par��al taking, dest�uc�ion, or loss in va�ue of��e Praperty ir��nrh�ch th�f�ir ma�k�� <br /> v�lu� of��e Pr�p�rt}1 irr�me��a��l� befvre �he �ar�ial f�king, d�stru�t�on, or ia�ss in va(ue is equ�! �a or <br /> grea�er��an�he amaun�vf�h�sums secured by this S�cu�i�� ins�rum�nt immedia��ly h�f�re th,e�ar�ra! <br /> taking, �est�u�ti�n, o��ass in �r���e, unless Borrower a�rd L�r�d�r o�her�vise agre� in v�rritir�g, �he surns <br /> s�cured �� �his ��curifi�l Ins�ru�ent s�a�� be e�duced by �h� am�un� af�h� ��s��llanea�s Pr�c��ds <br /> rr�ul��pC��d b� �he fol�awing frac���n: �a} th� �o�a� a�ount �f�he �ums secur�d immed�a���}� before th� <br /> �aar�ia!�aking,destruc�ion,�r�oss�n�alu�divided by��}�h�fa�r mark���a�ue of�he Proper�ir�nmedia#��y <br /> ��f�re�ne pa�#ial�aking, des��ucfiion, or ioss �n�alue.Any balance shall be pa�d t� Borro�er. <br /> ln�h� even�of a pa�ial fiakir��, destruc��vn, �r�oss in va�t�� af fihe Property in which�h�fa�r marke� <br /> value af t�� P'r�perty i�mediat���before�h� p�ri��al ta��r��; de��ruc��a�, or[oss���alu� �s l�ss�han�h� <br /> NEB��K�4--Sin�fe Farr�i�y--Fannie�ael�redd�e�Il�ac UNIFC�RI�i iNSTRUMEN�FQrm 3�2$9l0� <br /> E[lie Mae,[nc. page 7 nf 11 NEE�EED n3�� <br /> NEEDEED(CLS} <br /> '111'i 71�0'�6�5:36 AIVI PST <br /> e. .. ti <br /> �� <br />