2� 1 ��812�
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<br /> a��ern�te�nortga���r��ur�r s��ec��d b�L����r.If�u�st�n������eq�i����nt��rt�a��l��ur�r����o�r���g��s
<br /> no�avail�b��,���r�v►re�sha��c�ntin�e t����r�o L�nde�t����oun�a�tne�epa��te�y d�si�r��ted pay�e��s
<br /> �hat vv�r� d+�e�nrhen �he i��u�anc� ca������ ce���d �� �e i� ��f�c�. L�nde��ill �c��p�, us� an� �etai�
<br /> �hese p��r�����a�a��nw�efundab�e��ss r����r�ir�I��u�f�Ior�gag��nsurance. �uch loss r�s�rv�s�a�l
<br /> be n�n-r�fu�d�bl�, r�at►ni�ths�anding#he fact�f��t�h� L�an �s uit�m���ly paid in full, and L+end�r��all na�
<br /> be requi�ed��p�y�orr��rer an�interest or��rn�ng�on suc�Ioss�es�nre. Lender Gan�a�vnger r��u�r�
<br /> foss �es�nfe p�yrr��nts �f �Q�t���� In�u�ance co��rage �in t�e �mount and fi�r t�� pe���d �hat L�nder
<br /> r��u���e�� pravid�d by�n ins�rer s����te� �y L�r�de�aga�n be��mes a�aila�le, is ��tain�d, an� L�nder
<br /> re�ui��s���ara�e��d�s��nat�d payr��nts t��r���the p�err��u�ns��r M�rtg�g�lnsur�n��.�f L�n������ui�ed
<br /> ��r���ge Ins�r�r����s��ca��iti�n ��r�����g�h� L��� �na1 E��r��vu��r�as req�i�e��� ma�C�s��ara��ly
<br /> d�si�n�ted ���n��nts t��ard th� prer�iunn�f��-�a�tga�� I�su��r���, Barro��e�s���f p��th� �r�n��u��
<br /> ���u�r�� �o m�in���n ���#���� In��r�n�� i� e����, �� �� �r�vid� � n�n-re�und���� ��s� r�s�rve, un�i�
<br /> �.��d�er'� ���uir�men�fvr���#���� I�s���r������s �n acco���nc���nri�h any�rritt�n �����rr��n�b�t�r�e�
<br /> Borr��nr���n� L�nd�r p��vidin� for��c� ����in�ti�t� a�� �nti� ��r��r��fiion is r�����r�� b�Ap�i����l� La�r.
<br /> Nv��in� i�t�i��ec�ion ��a����s Ba�rv��r'�o�liga�io�n tv p��ir�t�����a�th�rate pr�vid�d i�t��h�o��.
<br /> il���#ga���n�ur�n����imb��s�s L�n��r��r any�nt�t�tha#�t�rchas�s�h�Not�}f�r ce��i�t��s����t�n�y
<br /> �ncur if���ra����a�s r��t rep��r t�e Laan�s�gr���. ����o�r�r i�no�a par���o th��artga������a���nc�.
<br /> Mo�t��g� �n�ur�rs e�alua�e th��r �ot�� r��� �n ��i ���� in�u�anc� ir� �orc� �r�� �im� to t�r��, and
<br /> may enter in�o ���`eements with othe�pa�ties �h�t �h�re v�modi� t�ei� �i�k, or reduce ��s�es. Thes�
<br /> . agreerr���ts a�� on te��� and canditians t�,at are ���is�ac�ory t� the mvr�g�ge insurer an� t�e Qther
<br /> pa�t� �or p��ti��}��t��se ag�eemen�s. rhes� ��re�rr����� may �equi�e the rna�t�g��� insu���`�a mak�
<br /> paym�����sing �n�sou��e�f fiunds#ha���e��r����e ir���r�r��y have aWai�a������i�h rr����nc�ude
<br /> funds�b��in�d fra� Il�artga����sura���p��mium�}.
<br /> ��a r�s��t�f�������r�e�ne�rts, Le�d�r, �ny p�r��a��r�������t�, a��th�r in�ur�r, �n�r�in�ur��,
<br /> ��y ��h�r �n�i�y, �r �ffi���t� o� �ny ��the fi�r���ing, rn�y r�c�iv� ��dire�tly �r in�ir���l�} ��o�n�� th��
<br /> ��riv��ro� ��r�i�ht be���rac�eri��d �s} � ���tinn af���r�r���'s p�a�rnn�nt�far ����a�e �n�ura���,
<br /> in�x�h����f�r�h�r�n���ma�i�yi�g���nr���#g��e in��u��r'��i��, vr r��u�i�g I�s��s. If su�h a���e�n�n�
<br /> pr�vi�ed �h�� �n �ffi����� �f L�nder t�k�� � s�a�� o�th� in�ur�r'� r�sk in ��c����g� ��r a �1�ar� �f�h�
<br /> pr�rr���r���ai����h��n����r, t��a�rar�����n������r����m�� "�apti�e r��n��r�n��." �ur�h��:
<br /> ��� ,��n� �u�� ��r��m�nts r�v�ll n�t ����t th�e �nr�t�un� that BarrQwer ��� a�r��� t� ��� for
<br /> M�rt�age I���r�n����rany o�herter�s vf th�L��r�.5���agre�n��n��rn�il��ot i��rea��th��rnount
<br /> �orrawer v�ril�c��nre for Mar��a���nsuranG�,a�d th�y will n��entit#e Barrawer�a�r�� r�fun�.
<br /> {b} An� su�h agreem�nts v�r�ll �ot affect the rights B�rrovrrer has - if any -�rit� r�spect to
<br /> the Mor����e In�urance under the Hnmeov►rne�s Pra��ctinn Act r�f 1998 ar any�a���r I�r�v�These
<br /> rights m�y ir������ th� right to r��ei�e ��r���n di��tosures, �o �eq�es� ��d ab�ain ��n��INation
<br /> of��e�c�r�����ln�ur��r�e,to h�v�t����r��a���nsuran��termin2�te�d a��s�r�rat�ca�l�t,�n�1c�r�to
<br /> r�ce�►r� � re��u�d c�f an� ��rt���e �n��ra��� pren��u�n���h�t vvere un�ar��d �t t�e���n�of�uch
<br /> �an��l�a�ia�n �r�ern�ir�a�in�.
<br /> 11. A��ign���nt of�lis�ellan��u�F'rocee�ds;Forf�itur�.AI��lisce���r��vu�Pro��eds�����r�b�
<br /> �����r���ta ar�d sh�i� b�p�����L�����.
<br /> ���h�Pro��r��r i�d�rn�a��d, such��sc�l��r��c�us F�rr�c��ds sh�ll b�ap��ied fo���to�at�o��r�e��ir�of
<br /> the P��p��t�; if th��e�t�r��i�n a�r��air i����r�orr�i�a����feasi�l�and Le�d�r's��curit��s not������ed.
<br /> Durir�� ��a�� rep�i� and �esta�a�io� peri��, �.��d�r ���I� �a�e �h� righ� �� h��d ���� l�iscell�����s
<br /> F���ceed� unti� L�nd�r has nad an op�or�uni���v in�pe�� ���h F�rQp�r�y to �nsur�th����rk �as b�en
<br /> c�mp��ted t��.�nde�'s sa��sfa��ion, pr��id���ha��u�h inspect�on s�al���unde�tak�n pram�tl�r. Lend�r
<br /> may �ay f�r th� repairs anc� r�storati�n in a single disbursem�nt❑� in � serie� of pr����ss paymen�s
<br /> as the v�ork is c�mp�eted. l�n��ss �n agre�ment �s ��d� in v�ri�ing vr Appi�cab�� La� req�ires interest
<br /> to be paid an �u�h l�i����l�neaus Pr����ds, L��der�h�l� r�at he r��u��ed to pa�r E�a�rr�a�er�r���r�t��es�
<br /> or����n�r���an suc� �isGel��n�aus proc��d�, �f���re���r��i��or repair is r���e�o���������fe�si��e n�
<br /> L�nder's s��tari���v�ld��le�sened.�he�i���li�r���u�P'r�c�ed�sha�l be app��ed ta�h�s��r►�����red
<br /> �� �hi� ����rity ����rum�r��, a►rhe���r �r n�o� �hefl du�, w�t� t�� �x�ess, �f���, ��id t� B��'r��er. Su�h�
<br /> �isc�ll�n�a��Pra�e�ds�h���b���p���d it��h������p�'o�i��d f�r�� ��c�i�n 2.
<br /> In�h�eW�n���a t�t�l��kin�,des��uction,�r i�►s��in val�e o�����'��pe��,����li�ce�l�ne�u��'r���e��
<br /> ��a�� b� ����i�d �o th� s��� sec��ed �� th�i� ��e������ �r�s�rum�n�, w�eth�r or r�o� th�er� ��e, ��th �h�
<br /> exc��s, i����, p�i�t��v�ror�er.
<br /> Irt the e�v�n��f�p��tial t�k�ng, de��ruc��an, vr loss���r�lu�of th�F��ope�t��n v+�thi�h�h�f�ir m�rke�
<br /> va�u� �f th�e F'ro�ert� im���iately b�fvr��h� ���t�a1 �a�ir�g. des�ru�tion, or I�ss ir� �alt�� i� �qual �a or
<br /> greater than t���m�unt�f the sums secur��l���his�e�ur�t�Inst�ument�mm�diate�����or�t�e par�ial
<br /> �ak�ng, des�r��ti�n, or�vss �n Walue, unl�ss Borrv�ver and Lender�t�er�vise ag�e� �n w�iting, the sums
<br /> secur�d b� �hr� �ecur�it� Ir�strume�� s�a1! be �-ed�c�� b� th� amaur�t �f th� Misc�l��ne�us Pra��eds
<br /> ��ult�pl�ed b� th� ������►ing fra��ion: �a} ��e t�tal �mount �f�he sums s�ct�red imn��d�at�ly �ef�r� the
<br /> ��r�ial t�ki�g,��stru����n,�r la�s in�alu����i�������}�h�����ma��e�value Qfthe Pr�op�r�y irri��di���l�
<br /> b�fQre th�p��r�ial���ir��, destru��ia�, �r����in���ue.�4n�bai��nce sha�� b�p�id tv Borrower.
<br /> In th�e��n�of�p�.rt��l t�kin�, d����ucti�r�, �r�a�� in v����o�fihe Pr�p��t� in r��i�h t�e f���m�r���
<br /> �r��ue�f�M�Pro��rt�imn�edi�t�ly be��re th��artia���kin�, destruc�iQn, o��a��i�►���u�is I��s�ha����
<br /> ��it�al�: - �
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