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<br />200 06668
<br />11. Assignment of' iwellaoenu:. 11'rocaeds; Forfe- iturr_ All N1w�us P- -recd- air hereby
<br />a i w and shall be paid to Lender.
<br />F the Property is da=ged., such `fasr°'.aucous Ploceeds s'aaU be appli-A to restoration of repair of
<br />the Property, if the restoration or repair is econatnicaily foible and Lcndces securil� is not lessened During
<br />such repair and restoration period. Lender shall have the right ro hold such ;4fiseellaneous Proceeds until
<br />Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
<br />satisfaction, prodded that such inspection shall he undertaken promptly. Fier may pay for the repairs and
<br />restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an
<br />agreement is made in writing or Applicable Law - cqu;ires interest to be paid on such Miscellaneous Procecds,
<br />Lender snail net be required to pay Bor.-o,% et• ar interest or = -xLtgs tart q" \1KcdLs.,r uS Proceeds- If ncc
<br />restomtion or repair is not ecotarmi: ally fewNe or Lcndtes be lessened, the NIisce!laneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then 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, destruction, or loss in 'value of the Property, the Miscellaneous Proceeds
<br />shall be applied to the sums secured by this Security Instrument, uhethrr'or not then due, with the excess, if
<br />any. paid to Borrower.
<br />In t1he event of a partial taking, destruction, or losA in value of'the Property in which the fair market
<br />value of the Proper -,y immediately before the partial taking, destruction, or loss in value is equal to or greater
<br />than site antount of the sutras secumd 'hy this Security ln<asttment immediately before the partial taking,
<br />destruction. or loss in value, unless Borrower and Lender abet%ise abt'ec in writing, the storks secured by this
<br />Security Instrument shall be reduced by the ar,:. unt of the 4iis�ellaneovs Proceeds multiplied by the following
<br />fraction: (a) the total amount of die sums sc--ured unmediateiy befort: aic partial taking, destruction, or loss in
<br />atue divided by (b) the 'air ma.'xet value of t`e Pro -perm edi^tel, before the partial taking, destruction. or
<br />loss in value. Any balance shall be paid to Borrnwcr.
<br />In the event of a partial taking, destrucdon, or loss in vdluc ;,f the Prope try in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount
<br />of the sums secured immediately before the pan.31 taking, destruction, or loss in value, unless Borrower and
<br />Lcr,+'.cr oLhcr a i_ e asree in wwritirs, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />Security• Instrument whether or not the stuns are then due.
<br />If the Property is abandoned by Borrnwcr, or if, after aotice by Lender to Borrower that the Opposing
<br />Party (as defined in the next sentence) offers to make ai. award to settle a claim for damages, Borrower fails to
<br />respond to Lender within 30 days after the date the notice is given, L- -rider is authorized to collect and apply
<br />the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br />Security Instrument. whether or not then due. "Opposing Party" means the third party that owe-, Borrower
<br />Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Nli•;ceklaneous
<br />Proceeds.
<br />Borrower shall be ir, default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lenders judgment, could result in forfeiture of the Property or other material impairment of Lender's interest
<br />in the Property or rights under this Security ln• ;trument. Borrower can cure such a default and, if acceleration
<br />has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br />ruling that. in Lender's judgment, i recludes forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. The proceeds of any award tar claim for
<br />damages that are attributable to the impairment of Lender's:interrst is the Property are :re---by assigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied t4.,reatoratiou or repair of the Property shall be
<br />applied in the order pro -tided for in Section ?.
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<br />Forre 3028 1/01
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