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200206926
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />nssignal to and shall be paid to Lender,
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to resmrnfion or repair of
<br />the Properly, if the restoration or repair is economically feasible and Lender's security is not lessened During
<br />such repair mid restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br />Leader has had an opportunity to inspect such Property to ensure the work ha been completer) 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 as the work is completed. Unless an
<br />agreement is made in writing or Applicable Law requires interest to he paid on such Miscellaneous Proceeds,
<br />Lender shall not IV required to pay borrower any interest or earrings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's secal would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Monument, whether or not then doe, 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 ofa total taking. destruction, or loss in value of the Properly, the Miscellaneous Proceeds
<br />shall he applied to the .sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />any. Lord to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Properly in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater
<br />than the amount of the sums secured by this Security Proponent immediately before the partial takmgl.
<br />destruction, or loss in value, unlc s Burrower and I order otherwise agree in writing, the sums secured by this
<br />Smunty Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following
<br />@action: (a) the mil amount of the sums secured immediately before the partial inking, deswction, or loss in
<br />ralue divided by Ib) The Purmarket value of the Property immediately before the partial taking, dr%oraction, or
<br />loss in value. Any balance shall be paid to Borrower.
<br />In tlic event of a partial taking, destruction, or loss in value of the Property 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 partial taking, dcswenon, or loss in value, unless borrower and
<br />Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />Security rnswment whether or not the sums are then dun
<br />If the Properly is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing
<br />Party (as defined in the next sentence) offers to make an award or settle a claim for damages, Borrower fails to
<br />respond in Lender within 30 days after the &te the notice is given, fender 1s authorized to collect and apply
<br />the Miscclluneous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br />Security rnswment, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br />Miscellaneou, Proceeds or The party against whom Borrower has a right of action in regard to Miscellaneous
<br />Proceeds.
<br />Borrower shall be m default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's ju lm ent, could result in forfeiture of the Property or other material impairment of Lender's interest
<br />in the Property or rights under this Security Instrument Borrower can cure such a default and, if acceleration
<br />has occurred, moisture as provided in Section 19, by veteran die uction or proceeding to be dismissed wish a
<br />ruling that, in Lender's judgment, precludes forfeiture of rite Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for
<br />damages that are attributable w the vnpaGment of Lender's interest in the Properly are hereby ussigned and
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that ore not applied to restoration or repair of die Property shall be
<br />applied in the order provided for in Section 2.
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