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200207076
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200207076
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Last modified
10/15/2011 1:29:28 AM
Creation date
10/22/2005 8:59:42 PM
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DEEDS
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200207076
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200207076 <br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower <br />oared by this Security Iasmauerht These amounts shall bear interest at the sure can from the date of <br />disbursement and shall be payable. with such moved, upon notice from Lender to Borrower requesting <br />payment. <br />If this Smuriry Internment is on a leasehold. Borrower shall comply with all the provisions of Die <br />]ease If Borrower acquires fee tide m Ne Property, the leasehold not the fee title shall not merge unless <br />Lender agrees to the rivulet in writing_ <br />10. Mortgage Insertions, If Lender required Mortgage Insurance its a wnditon oflnaMng the Loan, <br />Borrower shall pay the prelaunch clinical to maintain the Mortgage hnsntance an offer If, for any reason. the <br />Mortgage Immmal coverage required by Lender ceases to be available from (tie mortgage insurer that <br />previously provided snub in. and Borrower was required m make separately designated puyrnems <br />toward the premium for Mortgage cInsumnce, Borrower shall pay the premiums required to aMain coverage <br />substantially equivalent to the Mortgage Insurance previously in of cep, at a cost substantially equivalent o the <br />Gov w Bonmacq of the Marriage lrtsumnce previously in effect, from an alternate mortgage insurer selected <br />by Lender If substantially equivalent Mortgage Insurance c verage is not available, Borrower shall continue <br />to pay to Lender the amount of the separately designated payments that were due when the insurance coverage <br />eased 10 be In ufime Leader will accept. late and retain these payments as a non- reirnduble lass reserve in <br />lien ofModgage Insurance . Such lost reserve slwll be non - refundable, notwithstanding the fact that the Loan <br />is ultimands paid in PoII, and Lender shall not be required to pay Borrower may interest or earnings on such <br />loss resent; Lender can no luager equate lass reserve payments if Mortgage Insurance cmemge (an die <br />amount lend for the period that Leader requires) provided by an insurer selmmd by Lender again becomes <br />vailahlq is obtained, and Lender requires separately designated payments toward the premiums for Mortgage <br />Insurance If Lender mquia d Mortgage Insurance as a condition of making the Loan and Bonmver was <br />required in make separately designated paymcran toward the premiums for Mortgage reliance, Borrower <br />,hall pa,v the pmnhlanss required to concern Mortgage Insurance in effect. or provide anon refeandable lass <br />a mois c. until the Lender's requirement for Mortgage Insurance ends in aktUreWnce with any wntien agreement <br />bawecn Bonuwer and Lender providing for such mannatin or until termination is required by Applicable <br />Law. Nothing in this Section 10 uNce s Borrrnve's obligation to pay interest at the rate provided in the Note. <br />Mortgage Insurance reimburses Lender (or any entry that purchases the Note) for small losses it <br />may tom <br />it m <br />IFBorwer does not repay the Ines tie agreed. Borrower is not a party to the Mortgage Insurance. <br />Monguge insurers evaluate door total risk on all such normal in force from time w time, and may <br />enter inns amccmenn with other pillion that share ormodrfy then risk orreduce losses. These agreements ore <br />on terms and conditions that no voltmetory to the mortgage insurer and the otter party (or parties) to these <br />agreements. Thee agreement may require the nmrtgagc insurer to make payments kissing any source of funds <br />that the mortgage insurer may hale available (which may include funds obtained from Mortgage Insurance <br />prenm ts)_ <br />As e result oRhe.e agreements, Lentenaoy purchaser ofthe Note, another insurer, any minstrel, any <br />,)[her carry, or any alTiliate of any of the forgoing, may receive pOSOtly or indirectly) anmants that dense <br />from (or might be dhmacterized as) a ponion ofBOrrower's payments forMormage Insurance, in exchange for <br />sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an <br />oflime of I nWar takes a share of the insurer's risk in crchange for a share of the premiums paid to the <br />usurer, the arremsfinan is ofmn tinned "captive reinsurance." Farther: <br />(a) Any such agreements will not affect the amounts that Burrower has agreed to pay for <br />Mortgage Insurance, or any otter terms of the Loan. Such agreements will not increase the amount <br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to my 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 Protection Act of 1998 or any other law. These rights may <br />include the right to r main disclosures, to request and anon, cancellation of the Mortgage <br />Insurance, m have the Mortage Insurance terminated automatically, and/or to receive a refund of any <br />Mortgage Insurance premiums that were unearned at the timcof such cancellation or termimnion. <br />hail, ' <br />6(sflu sra rise 80115 / From ia}A Ii01 <br />
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