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200411991
<br />DOC ID #: 0008534187711004
<br />As a mutt of these agmeaanta, Leads , any purcheear of the No* another, insurer, any ni aura, any
<br />other entity, or any afl5liad: of any of the foregoing, may receive (directly or indirectly) amounts that derive
<br />fmm (or might be characterised as) a portion of Borrower's payments for Mortgage Insurance, in exchange for
<br />sharing or model ttg do mortgage insme's risk, at reducing losses. If such agreement provides that an
<br />effiliete of Lewder takes a share of the insurer's risk in exchange for a share of the premiums paid to the
<br />insurer, the arrangement it often tanned captive reirian m." Furew.-
<br />(a) Any seek agreements will not affect the amounts that Borrower has agreed to pay far Mortgage
<br />Insurance, or any other terms of the Loan. Snit agreements wM not Increase the amount Bo newer will
<br />owe for Mortgage Insurance, and they wit got entitle Borrower to any refund.
<br />(b) Amy such agreatzentm will sot affect the rights Borrower has - If any - with respect to the
<br />Mortgage Insersuce under the He seownws Protection Act of 1918 or arty other law. These rights may
<br />Include the right to receive certain disrloagres, to request and obtalm cancellation of the Mortgage
<br />insurance, to have the Mortgage Insurauee tertalnated automatically, and/or to receive it refund of any
<br />Mortgage Insurance prremf tus that were unearned at the time of such cancellation or ternrInation.
<br />11. Assignment of Miscellaneous Proceeds; Ferfettu e. All Miscellaneous Proceeds are hereby
<br />naigned to and shall be paid to Lender.
<br />If the Property is damaged, sack Miscellaneous Pxomds shall be applied to restoration or repair of the
<br />Property, if the rsstoeatfon or repair is economically fusible and Leader's security is not kasene& Dining such
<br />repair and resew on period, Leander shell have the right to hold such Miscellaneous Proceeds until
<br />Lender has had an opportunity to inspect such Property o ensure to work has been completed to Lender's
<br />satisfaction. provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br />restoration in a single disbursement or in a series of progress payments ae the work is completed. Unlew an
<br />agreement Is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br />Leader shall not be requited to pay Borrower any interest or earnings on such Miscellaneous Prooaeds. If the
<br />restordon or repair is not economically fbasible or Lender's security would be lessened, the Minallaucous
<br />Proceeds shall be applied to the Hens secured by this Security Instrument. whether or not than due, with the
<br />excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />Section 2.
<br />In the event of a total taking, deanuctim% or loss in value of the Propatyy, the MiscaUsnecus Proceeds
<br />shall be applied to The sums secured by this Security Instnenent, whether or not thert due, with the excera, if
<br />arty, paid to Borrower.
<br />In the event of a partial taking, destruction, or loan in value oftbe Property in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or loss in value is equal to or Vesta than
<br />the amount of tbe smarms secured by this Security Instrument immediately before the partial tddng, destruction,
<br />or loss in value, unless Borrower and Lander otherwise agree in writing, the sums socured by this Security
<br />Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:
<br />(a) the total amount of the rums secured immediately before the partial %king, destruction, or low in value
<br />divided by (b) the fair market value of the Property Immediately before tine partial taking, destruction, or Ion
<br />in value. Any balance absU be paid to Borrower.
<br />In the event of e, partial taking, destruction, or lose in value of the Property in which the fair market value
<br />of the Property immediately before the partial taking, destruction, or lose in value is lase than the amount of
<br />the arena warred immediately before the partial taking, destruction, or law in value, unless Borrower and
<br />Lender otherwise agrec in writing, the Miscellaneous Proceeds shall be applied to the sums sectored by this
<br />Security Instrument whether or not the sums are than due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing
<br />Party (ace defined in the next sentence) offers to make an award to cattle a claim for damages, Borrower fails to
<br />respond to Larder within 30 days after the date the notice is given, Lander is authorized to collect and apply
<br />the Miscaldaneow Proceeds either to maturation or repair of the Property or to the stirs secured by this
<br />Security Instrument, whether or not Than due, `Opposlag Party" menu the third party that owes Borrower
<br />Miacellanwu Proea& or the party against wham Borrower has a right of action in regard to Miscellaneous
<br />Proceeds.
<br />Borrower shall be In daihult if any action or proceeding, whatber civil or criminal, is begun flat, in
<br />Leader's judgment, could result in faribfMre of the Property or other material dnrpairment of Lardeeg interest
<br />in the Property err rights under this Security Instnanccrt. Borrower can cure such a default and, if acceleration
<br />has occurred, rainsfate as provided is Section 19, by causing Ere action or prang to be dismissed with a
<br />ruling that, In Leader's judgment, precludes tbrfeitun of the Property or other material impairment of Leader's
<br />interest in the Property or rights under this Security instrument The preowds of any award or claim for
<br />damage that are attributable to the impairment of Leaiees interest in the Property ass hereby assigned and
<br />shall be paid to Larder.
<br />At Miscellaneous Proceeds that am not applied to restoration or repair of the Property shall be applied in
<br />the order provided for in Section 2.
<br />M Borrower Not Released; Forbearance By Lender Not a Walvw. Extension of The time for
<br />payment or modification of amortization of the stuns woorW by this Security Instrument granted by Lander to
<br />Borrower or any Successor in laterest of Borrower shall not openbe to Men the liability of Borrower or any
<br />Successors in Interest of Bor rower. Lender shall not be ragrdred to cormaeoce proceedings against any
<br />Successor In Interest of Borrower or to refuse to extend time for payment or otherwise modify sucartizalkn of
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<br />l�a�eAllote)tsorcq.w cig.(rtrot) asa.rorss 3026 MI
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