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200206958
<br />As a result of these agreements, Leader, any purchaser of are Note, another insurer, my Icleanup.
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly ar indirectly) amounts that
<br />derive from lot might be characterized is) a portion of Borrower's payments for Mortgage Inmrmrec, in
<br />exchange for sharing or modifying the mortgage insurer's risk or reducing losses. If such agreement
<br />provides that an affiliate of Lori takes a share of the insurers risk in exchange for a share of the
<br />premiums paid to the Downes, the arrangement is often termed "captive reinsurance -' Further:
<br />(a) Any such agiermcnts will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such ag small will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle llor annum to any refund.
<br />an Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insulation under the Homcownurs Protection Act of 1998 or any, other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminate.(] automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />formulation.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall he paid to Leader.
<br />If the Property is damaged, such Miscellaneoas Proceeds shall be applied to resmration or repair of
<br />the Property, If the restoration or repair is economically feasible and fender's security is not lessened.
<br />During such repair and restoration period, Icnder shall have the right to hold such Miscellaneous Proceeds
<br />until Leader has had an opportunity to Inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that site], Inspection shall be undertaken promptly. lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made In writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or tannings on such
<br />Miscellaneous Proceeds. If the resroration or repair is not economically feasible or Lender's security would
<br />he lessened, the Mivecllam eta Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided lot in Section 2
<br />In the event of a total taking, destruction, or loss in value of Pic Property, the Miscellaneous
<br />Proceeds shall be applied to the sums seemed by this Serenity Instrument, whether or not then due, with
<br />the excess, if my, paid to Borrower.
<br />In the color of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property nionediately before the partial taking, destruction, or loss in value is equal to or
<br />greater thin the amount of the slims secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, ]micas Borrower and lender otherwise 'glee in writing, the sums
<br />.secured by this Si Instrument shall he reduced by the amount of the Miscellaneous Proceeds
<br />nnlopiiei by the following traction (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, r loss in value divided by (h) the fair marker value of the Property
<br />immediately before the partial taking, destruction, or loss In value. Any balamc shall be paid m Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the felt market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is leas area the
<br />amount of the stuns seemed immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Milne lanwus Proceeds shall he applied to the slime
<br />secured by this Security Insinuator whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lendef to Borrower (La the
<br />Opposing Parry (as droved in the next sentence) offers to make an award to settle a claim for damages
<br />Borrower fails to respond to holder within 30 days anal the hall the notice is givint give] Lender is authorieal
<br />to collect and apply the Mlseell incoos Proceeds cutler to resroradon or repair of the Property or m ale
<br />umo Secured by this Sn nrity Insmimenq whether or act hen due. "Opposing Party" incapor the third party
<br />that owes Borrower Mlsecllancous Pool nr the pony against whom Borrower has o right of action in
<br />regard to Miscel4ureou Proceeds.
<br />Borrower shall he in default if any action or proceedmg, whether civil or rimhml, is begun that, in
<br />Leader r ,judgment mall result in forfeiture of the Property or other material meavo rent of Lender's
<br />interest in tile Property of lights under r this Security Enstmment. Borrower can 2111C Such a delimit and. if
<br />s.,.e.:
<br />Cv -Easel ffliM nn =s+i,e Form 3028 1101
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