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200206897
<br />Mortgage Insurers evaluate their total risk on all such insurance in form from lime to time, and may rotor into
<br />agreement with other
<br />ytoparties
<br />rtgage shine
<br />inurr and offer risk,
<br />party rteesShhese agreements. Agreements
<br />These cartel
<br />agreements my
<br />that are the satisfactory the mortgage ensurer and the other perry (or putties) h theca tame age ins rem agreement may
<br />require hik the mortgage insurer ru make payment using any ce pre iu funds that the mortgage insurer may have available
<br />(which may mdude Imthe obtained from Mortgage Insurance purchaser premiums)
<br />Ase result
<br />hetheseoing, may r Lmdeganyly or indirectly) note ounmrthenerivefany(ormiter, be characterized
<br />or as ports n anyof the r a pa re cony receive (directly or ce, in each amounts that derive from fir m might be age insurer a
<br />as)n r portion of Ifv2 neeme Mortgage rovithatance,iuoi Offgeforseasa share ofth Inn uemorisk innsurer's
<br />risk, or are of Insets. msuch Agreement provided arrangement is nfln tern takes a share of the insurer's risk mexchwtgc reducing
<br />for a share of the premiums paid m the ensurer, the arrangement is often termed "captive reinsurance.' pay (a) Any such r agreements is will not affect the e amounts that Borrower has agreed to pay for Mortgage
<br />Ins any other [eons of the t anti Such Bu agrecmcnts will not increase the amount Borrower will owe for
<br />Mortgage (b)A ysuc Told they will not entitle Burrower to any refund.
<br />(b) Any such agreements will notion alley I
<br />Ac the right Borrower has , if any — with respect to the Mortgage
<br />Insurance ce under the Homeowners Protection Act of cell or any other law, ag These ights may include the rightge
<br />Insure certain ina ted auto to meanest and ur to r cancellation of the Mortgage e I Insurance, to have the Mortgage
<br />Insurance Terminated f such cancan and/or to mina ti n reload of any Mortgage Insurance premiums that were
<br />unearned at die limeofsucheancliancil orle ds;Fon.
<br />11. Tend Assignment of Miscdlaocdas Prreeeds; Porneilum. All Mismllanwtss Rncemlx are ftercbyumignuf rand
<br />Shift be paid to Under.
<br />If the Property is damaged such Miscellaneous and U tier's security shall be applied to eresrorafrnn or repair r and Property, n of the
<br />the rd, Under or repair ie economically feasible and Uodev's r ee s is not n e r has had an such repair and specs such
<br />period Under shall have the LAS hold such to [ Soldnmuv Proceeds undo Under has hod os opportunity fa inspect such
<br />pro ensure The Work kh theeocompleted t t s f_f (mprovd dthit'set reso T payments as tim
<br />promptly. k is c Under may per for an reports d restoration to gl Applic ble T series intprogress payments as the
<br />work is completed Ul. U de agreemetn is made in writing or Ascr atl i law t or ears rigs on u be paid cartoon
<br />Proceeds If r"Arr ti tender shall not be lmarr ell m pay eonowu any Interest or earnings en such Miscellaneous
<br />Proceeds- If the rrsmradon or repair is not econolmcallyfeasibleor lender's security would be lessened, ihcMlsmllanmus
<br />event of a teal taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />trials cured by This Security Insuunrcnq whether or not then duo, with be excess, if any, paid to Borrower.
<br />, event of n anrtinl mklnn deemmuon. or loss in value of the Property, in which die fair Tanker value of
<br />equal
<br />I be reduced by the Amount of the
<br />Amex ecnred imncdiatelylefixelbe
<br />partial taking, destmulmn, or loss on value divided by (b) me fan inavol value ul the toomm y moseciaredy oemre mepumm
<br />taking, destruction, or loss in value. Anybalance Shullbeprodto Bt)rrllWCI..
<br />In the event of a partial taking datrucbon, or loss in value of the Propert y in which the fair market value of the
<br />Property immediately before the partial liking, destruction, or loss in value is less than the amount of the Sams secured
<br />mmchately before the partial taking, destruction, or loss in value, unless tommeer and Under othmwisc agree in writing,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by his Security Instrument whether or tot be sums met ben
<br />due.
<br />If the Property Is abandoned by Borrower, or if, after notice by Under to Borrower that the Opposing Party (as
<br />damned in the nest sentence) offers to make an award to settle a claim for door car Borrower fails to respond to Lender
<br />within 30 days alter the date the nonce IS given, Under is authorized to off ctand applythe Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured b this Security Instrument, whether or not then due.
<br />"Oppotang Party means the third party that awes Borrower Miseel (ncous Proceeds or the party against whom Borrower
<br />has a rinbt of action in ToiAnd it) Miscellaneous Proceeds.
<br />Borrower shalI ie in default it any action or proceeding, whether civil or criminal. is began that, in Lenders
<br />juld So, could result in forfeiture ol' the Proper I) or other material impairmencofUnder' a interest in the Property or rights
<br />un rthis Security Instrument Borrower can core such a default and, if Acceleration has occurred, reinstate as provided in
<br />Scetion 19, by causing the acnon or in According to be dismissed with It ruling that, in Lender's judgment, precludes firrhumse
<br />ofthePropertyra othm material impairment otUndeds interest in the Piopertyorright underUsSecmitylnstrumenr Uses
<br />proceeds of any award or claim Sir damages that are attributable to the impairment of interest in the Property are
<br />hereby assigned and shall be paid to Lender.
<br />All Miscellanecos Proceeds that are not applied to restoration or repairoffhe Property shall be applied inihcordm
<br />provided for in Section 1
<br />12, Borrower Not Released; Forbearance By larder Not a Waiver. Bxtension of the time for payment or
<br />modification ofumortLation offhe sums secured bythis Security Instrument granted hyUntdearm Bonowerorany Sucarev r
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest Of Borrower
<br />I ender shall nor he required to commence proceedings agamrt any Successor in Interest of Burruweror to refuse to extend
<br />tom for payment or otherwise modlly amortization of the sums secured by this Seoul itylnstrument by i eaten ofany icmand
<br />handle by the uripaal But or any Successors in Interest Sl Borrower. Anyforbcarancc by Lender meleaCeing anyrig}tt
<br />or emery including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in
<br />Interest of Borrower or in
<br />amounts less than the amount then due shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; CO- signers; Successors and Assigns Bound. Borrower covenants And agrees
<br />that Borrower's obligations and liability shall be joint and several. However. any Borrower" he co-signs this Security
<br />Instrument ben duo our execute the Note (A "co - signet'): (a) is co-signing this Security lnstrumem only to ma quil grant
<br />And mvvcy the on signer's interest in the Property order the forms of ITS Security Instrument, by is not pmsotmlry obligated
<br />Subjectto the provisions of5ection IS, any Successor in Intel car of Borrower whomswnesllotrowm'sobligations
<br />tinder This Security I tr tin strong, And is approved by Lender shall obtain all of o rights and thencftc under
<br />this Security Lanni Bonover shall not be leased from Borrower's obligations and liability der This Security
<br />Instrument unless leader agrees to such release in writing. The covenant and agreement of Security Instrument shall
<br />bind (except as provided In Section 20) and benefit the successors and assigns of Under.
<br />10. Loan Charges. Lender miss charge Borrower fees for services performed in connection with Borrower's
<br />default, for the purpose of protecting Lender's interest in the Property and right under this Security Instrument, including,
<br />but not limited to,mmmeys'rocs, property inspection and valuation Area. In regard to any other fees, the absence of express
<br />Authority in this Security Instrument to chart e a specific fee to Borrower shall not be construed as a prohibition on the
<br />charting ofsncb fee Iender may not charge fees Ihat are expressly prohibited by this Security Instrument or by Applicable
<br />Taw.
<br />If the Lenin is subject to a law which sets maximum loan chat guys, and that law is finally interpreted so that the
<br />interest or anor loan charges collected or be collected In connection with the lean exceed the permitted limits, then. (A)
<br />any such lean charge shall he rmlumd by the amount necessary to reduce be charge m the permitted limit; and (b) any sums
<br />NEXItASKA S,opletsmil} —Ft weM"XrWdie Mne LNIPOn IINSTTr F, r Foon3028 ll01 aSSe5n/8prger)
<br />msecvdnor GI u93
<br />dommamaun
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