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<br />200'203392
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<br />Any amounts disbuf'$ed' by Lender under thi~ Section 9 shall' bece,me additional debt of Borrower
<br />secured by tillS Security In,,bwneut. These amounts shall heat interest at the Note nlte from tile datl,1 of
<br />disbwscment and shall be l'a:i~ble, with such interest, upon Mtke from Lender to. Borrower requt,Sting
<br />payment.
<br />If this Security Jnstrument is 011 a Iell.~ehold, Borrowe.. shall comply with all the provision,> of the
<br />iease. If Borrower acquires te.~ title to the Property, the leaseholrlllr'ld the fee title sh~JI not merge unless
<br />Lender agrees to the me-i'gel" in writing. , ; , ,
<br />10. Mortgagelnsufance. If Lend.'\" required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums rcquird to maintain the Mortgage Insurance in effect If, for any reason, the
<br />Mortgage Insurance cover3ge req~ired by Lend~r ceases to be available from the mortgage insurer that
<br />previously provided such insurance and Borrower was required to make separately degignatedpayments
<br />toward the premiums for Mortgag.:: Insurance, Borrower shall pay the premiums required to obtain coverage
<br />"ub"tantialIy equivalent to :he Mortgage Insurance previously in efi'.."Ct, at a cost substantially equivalent to the
<br />cost to Borrower, of the Mongage Insurance previously in dIeet, from an alternate mll:1gage insurer se1ectt.-d
<br />by Lender. If substantially eqilivaknt Mortgage Insurance soverage is not available, Borrower shall continue
<br />to pay to Lender the amount of the separntely designated payments that were due when the in~urance coverage
<br />ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in
<br />lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the l.onn
<br />is ultimately paid in full, and Lender shall not be required to pay 'Borrower any interest or earnings on such
<br />loss re,;crve. Lender eM no longer require loss reserve payroenL~ if Mortgage lnsuf'occ coverng.:: (in the
<br />amount and for the period that Lender requires) provided by an ;n.~llrer selected hr '_~rder again becomes
<br />availablc, is obtained, and Lender requires separately designated paynlents toward the premiums for Mortgage
<br />lnsumnce. If Lender requi.red Mortgage Insurance as a condition of making the Loa, and Borrower was
<br />required to make separatcJydesignated payments toward the premiums for Mortgage h1.~urance, Borrower
<br />shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a tli'lll-refundable loss
<br />reserve, until the lender's requirement for Mortgage Insurance ends in accOIdance with any written agreement
<br />between Borrower and Lender providing for such termination or untilterrnination i~lrequired by Applicable
<br />l.aw. Nothing in this Section 10 afTect~ Borrower's obligation to pay interest at the rate providect in the Note.
<br />Mortgage Insurance r,:imburses Lender (or any entity that purchases the Note) for een'lin losses it
<br />may incur ifBorrow.:r does not repay Lie Loan as agreed. Borrower is nut a party to the Mortgage l:1surance.
<br />Mortgage insurers evaluate their total risk on all such inSt'ranel~ in force from time to time, and may
<br />enter into agreements with other parties that share or modify their risk, or reduce losses. These agreem-:nts are
<br />un icrm:; ll:ld cond:!:c!'~ !ll.:!! are s..1t:~f;,ctory tu the mortgage insurer and the other party (or parties) te. these
<br />agreements. These agreements may require the mortgage insurer to make payments using any source of i'lDlis
<br />that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance
<br />pr-;:miums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, I'..ny
<br />other emity, or any affiliate of allY of the lorgoing, may receive (directly or indirectly) amounts tllat derive
<br />from (or might be characterized as) a portion of BOrrowers r~yments for Mortgage Insurance, in exchangr. for
<br />shMing or modifying the mortgage lllsurer'~ risk, or reducing losses. If such agreement provides thm IIn
<br />affiliate of Lender takes II share of J1e in,;urer's risk in exchange for a share of the premiums paid to the
<br />insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay fur
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not Increase the amount
<br />Borrower will owe for Martgage Insllranee, and they will not entitle Borrower to any r('fund.
<br />(b) Any such agreements will not affect the rights Borrower has - If any - wl,th respect to the
<br />Mortga;.te (nsursllce under the Homeowners Protection Act of 1998 or IIny othel' law. These rights mIl)'
<br />include the right to receive certain disclosures, to requ~st IInd obtain canceU.tion of the Morteage
<br />(muranee, to have the Morta~e Insurance terminated automatically, and/or to receive a refund of any
<br />J\.Iortga~e In~llrallce premium, that wr.re unearned lit the lime of such cancellation or termination,
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<br />0.-6(;>0 E) ('''oj)
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<br />Inilials: ~_C:.-J!\
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<br />PaliC ~ (If 15
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<br />Form 3028 110 I
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