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200206951
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any remover,
<br />any other entity, or any affiliate of my of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (fir might he characterized as) a portion of Borrowers payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an affiliate of Lcrder takes a alone of the insurer's nsk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often refund 'captive reinsurance." Further:
<br />(a) Any such agreements will not affM the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not inereabe the amount
<br />Borrower will owe for Mortgage Insurance, and thew will not entitle Borrower in any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners protraction Ad of 1998 or any other law. 'Phase rights
<br />may include the right to receive permits disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage two ranee terminated automatically, and/or to receive a
<br />refund of war Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proneds; Forfeiture. All Miscellaneous Proceeds; are hereby
<br />assigned to arW dull be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is conomically feasible and lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the fight to hold such Miscellaneous Proceeds
<br />until Lender has had m opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Leader may pay for the
<br />repairs and restoration in a single disbursement or in a sa s of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to he paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically leasable or Lender's security would
<br />he lesserach the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if ivy, paid to Borrower. Such Miscellaneous Puceeds shall be
<br />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
<br />Whereas shall he applied to the sums secured by this Security Instrument, whether or not then due, with
<br />the excess, if may, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss to value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destination, of loss In value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and leader otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of fire Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a paniN taking, desruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, of loss in value is less than the
<br />a room of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Burrower and lender otherwise agree in writing, the Miscellaneous Proceeds shall to applied to the sums
<br />secured by this Security Instrument whether or not the sums are then due
<br />If the Property Is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Leader is authorized
<br />to collect and apply the Miscellaneous Pocceds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous proceeds or the party against whom Borrower has a right of action in
<br />reiganl to Miscellaneous Proceeds.
<br />Borrower shall he in default if ivy action or proceeding, whether civil or criminal, is begun that, in
<br />Lender s judgwer , could result in forfeiture of the Property or other material impairment of Lender's
<br />interest to the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />in w, / /
<br />®31NE)ywo Pepe sus ib Form3028 1101
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