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200207441
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any Torsumr,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or iadimetly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's paymcnrs fee 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 "clads for a share of the
<br />precolonial paid to the insurer, the arrangement is often termed "captive reinsuamce." Funhcr.
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan, Stich agreements will not increase the amount
<br />Borrower will one for Mortgage Insurance, and they will not entitle Borruwar to any refund.
<br />(h) Any such agreements will not af2'ed the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners ProtceBOn Act of 1998 of any other law. These rights
<br />may include the right to receive certain disclosures, hn ruquezt and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellantmus Proceeds are hereby
<br />assigned to and shall be paid to ].under.
<br />If the Property u damaged, such Miscellaneous Proceeds shall be applied to relinradon or repair of
<br />the Property, if the restoration or repair is econornically feasible and Lcodcfs security is not Icsacned.
<br />During such repair and restoration period, Leader shall have the right to hold such Miscellar¢rous Proceeds
<br />until Lender has had an opportunity m inspect such Property to cmaure the work has been connpleuxd to
<br />Lentils satisfaction, provided that such inspection shell be undertaken promptly. Lender may pay for the
<br />repairs and restoration in it single disbursement or in a series of progress orymeats as the work is
<br />completed. Unless :m agreement is made in writing or Applicable Law rcrleirn interest to be paid on auoh
<br />Miscellaneous Proceeds, Irndcr shall not be required to pay Borrower any nmcrest or earnings on such
<br />Miscellaneous Proc cda. If the restoration or repair is not economically fchsu h, or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied in the suits secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such MiseellMCOUS Proceeds 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 Miselaneous
<br />Proceeds shall be applied to tile sums secured by this Security hrurtu v ra, whether or not then due, with
<br />the excess, if any paid to Borrower.
<br />In the event of a partial taking, destruction, oI loss in value of the Property in which me lair market
<br />value of tine Property innnellately before the partial taking, desonel inn, nr loss to value is equal to or
<br />greater them the ¢nnount of the sums secured by this Security Instrument immcdiawly before the partial
<br />joking, destruction, or loss In value, unless Borrower and Leader oticrwise agree in writing, Bee sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Procc,,&
<br />multiplied by the following fractlon: (a) the total ainoont of Ibc stuns secured Eurnehatciy before the
<br />partial taking, destruction, or loss in value divided by (h) the fair market value of the Properly immediately
<br />before die partial taking, destruction, or loss in value. Any balance shall be paid to IIormwcr_
<br />In the eveml of a paniai taking, destruction, or loss in value of the Property in which Elie fair matter
<br />value of the Property imnsi laely before the partial taking, destruction, or lass In value is less than the
<br />amount of the sums secured itunediately before The partial taking, ddstruction. or logs in value, unless
<br />Borrower and l.endcr otherwise agree in writing, the MiseellawUUs Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or not the sums are tun due.
<br />If the Property is abandoned by Borrower, or if, after noliu by Lender to Borrower that the
<br />opposing Party (as defined in the next sentence) offers to make all award to .settle a claim for damages,
<br />Borrower fails to respond to lender within 30 days alter the dare the notice na given, Lender is authored
<br />to collect and apply the Miscellaneous Proceeds either ro reelomtien or repair of the Properly or to the
<br />stuns secured by this Security Instrument, whether or not then due. "Opposing party" moist the third party
<br />that owes Borrower Miscell2nerou5 Proceeds or the patty against whore Borrower has o right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrowed, that be in default if any action or proceeding, whether civil Or Criminal, Is begun that, in
<br />LenJcn's judgment, could result in forfeiture of the Properly or other antarctic impairment of lender's
<br />murest in the Property or rights under this Security Instrument, Borrower can cure snrh a default :red, if
<br />��GINEl woos, re„smhz����� %J Form 3028 1101
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