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200304601
<br />risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange
<br />for a share of the premiums paid to the insruer, the arrangement is often terminal "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,
<br />or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage
<br />Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has—If any —with respect to the Mortgage
<br />Insurance under the Homeowners Protedlon Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation nr termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall
<br />be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's seemity is not lessened. During such repair and restoration period,
<br />Lender shall have die right to hold such Miscellaneous Proceeds rmlil Lender has had an opportunity to inspect such Property
<br />to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Leader may pay tot the repairs and restoration in n single disbursement or in a series of progress payments as the work is
<br />completed. Unless m agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall not he required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, die Miscellaneous Proceeds shall be
<br />applied to The sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />Such Miscellaneous Proceeds shall he applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to
<br />the sums secured by ibis Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
<br />Property irrwediately before the partial taking, destruction, or loss in value is equal in of greater than the amount of the sums
<br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the scans secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) die total amount of the alms secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any bounce shall be paid to Borrower.
<br />In the even of a partial taking, destruction, or loss in value of the Property in which die fair market value of the
<br />Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or kiss in value, artless Borrower and Lender otherwise agree in writing,
<br />the Miseellaneous Proceeds shall be applied to the arms secured by this Security instrument whether or not the suns are
<br />then due.
<br />If the Property is abandoned by Burrower, or if, after notice by Lender to Borrower that the Opposing Patty (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30
<br />days after the date fire notice is given, Leader is authorized to collect and apply The Miscellaneous Proceeds either to
<br />restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not them due. "Opposing
<br />Party" means the third party that owes Borrower Miscellaneous Pmcccds or die party against whom Borrower lima right of
<br />action in regard n) Miscellaneous Proceeds.
<br />Borrower shall be in default if wry action or proceeding, whether civil or criminal, is began that, in Lender's judgment,
<br />could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights order this
<br />Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19,
<br />by causing the action or prucceding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the
<br />Property or other material impairment of Lender's interest in the Property or rights wider this Security Instrument, The
<br />proceeds of my award or claim for damages that are attributable to the impairment of Lender's interest in the Property we
<br />hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the suns seemed by this Security Instrument granted by Leader to Borrower or any
<br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in interest of
<br />NEURASKA-- SingIc Family— Fvunle MoN eeddie Mae UNIFORM INSTRUMENT Fnrm]028 IAN
<br />unEnTlSu
<br />ITEM 1918L7 (0011) (F."7 111 PnBeJf io Owe, rJi, 00 oic993, F-616791 -1131
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