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200207111
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any refractor,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might he characterized as) a portion of Borrower's 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 Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will nod affect the amounts that Burrower has agreed to pay for
<br />Mortgage lnsm'once, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will one for Mortgage Insurance, and they will not entitle Burrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower his - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or env other law. Those rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, In have the Mortgage insurance terminated automatically, and/or to receive a
<br />refund or any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment or Miscellaneous Prneeeda; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender_
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, It the restoration or repair is economically feasible and Undei s security is not lessened.
<br />Don ing such repair and restoration petiod, Leader shall have We right to hold such Miscellaneous Proceeds
<br />until Lender has had an 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. 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 or such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or 'rings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lenders security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with Ilse excess, if acv, paid to Borrower. Such Miscellaneous Proceeds shall he
<br />applied in the order provided for in Section 2. -
<br />In the cereal of a total taking, abstraction, in loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sees secured by this Security Instrument, whether or not then due, with
<br />the excess, if any, prod to tlorrower.
<br />In the event of a partial taking, deslmcfion, or loss in value of the Property in which the fair market
<br />value of the Property inmlediately before the prided taking, deSmnttiotl, or loss in value is equal to or
<br />greater than the amount of the autos secured by this Security Ideational inuaediatedy before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Poseeeds
<br />muloplied by the following trachea (a) the total amount of the sums cured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately
<br />before the partial taking, destruction, or lass in value. Any balance shall be paid to Borrower.
<br />In the 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
<br />amount of the sums warned immediately before the partial taking, destructing or loss in value, unless
<br />Borrowcr and lender otherwise agree In writing, the Miscellaneous Proceeds shall be applied to the snots
<br />s urea by this Security Inslment whether or not the suns are then due.
<br />w mIf the Property is abandoned by Borrower, or it, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make air award to settle a claim for damages,
<br />Borrower fails to respond to Leader within 30 days after fire date the notice is given, Lender is authorized
<br />to willed and apply the Miscellaneous Proceeds either to restoration or repair of We Property or to the
<br />sums scanned by this Security Instrument, whether or not then due "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or die party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Undei s judgment, could result in forfeiture of Ilse Property or other material impairment of Lender's
<br />interest in the Property or rights Under this Security hvstmment. Borrower can cure such a default and, if
<br />�6GINEI mrom sees on, lossiv � Fahm3028 1101
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