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<br />Mortgage Insurers evaluate dteir total risk on alt such inmmust in force front time to time, and may enter into
<br />agreements with other parties that sham pr modify thcu risk, orrcduce losses. These agreements are on tams mdcondiuons
<br />that are satisfactory [o the mortgage insurer and the other party (or parties) to these agreements These agreenenLS may
<br />reqquire the mortgage msmur to make pa cots using arty source of funds that the mortgage insurer rimy have available
<br />(wNch may include funds obtained from Mortgage Insivance premiums).
<br />As a result ofthese agrconents, Lender, any pporclmser ofthe note, another insurer, any reinswer, any other entity,
<br />or affiliate of any ofthe foreg ..g, may mccivc (dirce or indirectly) amomis that derive from (or might be characterized
<br />es) a portion ofBorrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's
<br />risk nr reducing losses. IC me agFeement providedt is'- iliate ofLendertakes a share ofthe insurer's risk m exchange
<br />for a share of the premiums paid to the insurer, the arrangement is often tinned "captive reinsmmce." Further:
<br />(a) Any such agreements will not affect the amount, that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms ofthe Laan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(h) Any such agreements will not affect the rights Borrower has — B any —with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automaticallyy, and /or to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />11. AssignmentofMiscellaneous Proceeds ;Forfeiture. All Miscellaite Proceedsm li=byassignedtomd
<br />shall be paid to Lender.
<br />Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair oftheProperly, if
<br />the restoration or repair is economically feasible and Leveler's security is not lessened. Dining such repair and restoration
<br />promptly. Lender may ppay for the repairs end restoration in asingle dishursement or in ascries ofprogress payments as the
<br />work is completed. Unless an agfeement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pa Borrower any interest or earnings on such Miscellaneous
<br />Proceeds. If the restoration or repair is not economically feasible or Lender's security would he lessened, the Mrscellanmus
<br />Proceeds shall be applied to the sums seemed by this Security Instrwnent, whether or not then due, with the excess, if any,
<br />paid ro Borrower. 6uch Miscellaneous Proceeds shall be 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 Proceeds shall be
<br />applied to the sutras secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction. or loss in value of the Property in which the fair market value of the
<br />sums
<br />h4iseeilaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums aecuredimmediatelybefore the
<br />partial taking, destruction, or loss in value divided bq, (b) the fair market value of the Property immediately before the partial taking, destruction, or loss 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 are tau' market value of the
<br />Property inniedialely before the partial taking, destruction, or loss in value is less than the amount of the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Borrower and Leader otherwise agree in writing,
<br />the Miscellaneous Proceeds shall be applied to die sports secured by this Security Instrument whether or not the suns are then
<br />due.
<br />If the Property is abandoned by Borrower, w if, after ounce by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damnycs, Aorrowcr fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorized to oollea and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property' or to the sums secured b)' this Security Instrument, whether or nut then due.
<br />"Opposing Party" means the third party if owes Borrower Miscellaneous Proceeds or the parry against whom Borrower
<br />has a right of action in rega Miscellaneous rd to Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is began that, in Lender's
<br />juit ent, conldresultinforfeitureoftbe Prnpe, tyur ul hermatosal impaumtenl off,endei's interest in the Property or rights
<br />under this Security Instrument. Borrower can cure such a default and, tf acceleration has occurred, reinstate as pprovided m
<br />Section 19, by causing the action or pimeeding to be dismissed with a ruling that, m Lender's] idgment, prectudestibnewor
<br />ofthe Property or other material impairment ofLender's interest in the Property or righlsm LTdus Security lrshurnmt. Tlto
<br />vvI its of airy award w elaon for damages that are attributable to the impairment of Lender's interest in the Property are
<br />hereby assi6mcd and shall be paid to Lender:
<br />All Miscellaneous Proceeds that succor applied to restoration or repair ofthe Property shall he applicdin throttler
<br />provided for at Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payym�nant or
<br />modification of amortization nfthe sums secured by this Security Instrument granted by Lender tuBorrowerwany Sucxsm'
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower.
<br />Lender shall not be required to commence proceedings against any Successor in Interest of Burrower or to refuse to extend
<br />time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason ofany demand
<br />made by the original Borrowwor any Successors in Interest of Borrower. Aii}fot'bearmiceby Lenderin"ercismgmynght
<br />or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in
<br />Interest of Borrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of my right or remedy.
<br />13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrowercovermtsandagrees
<br />that Borrower's obligations and liability shall he yout and several. However, any Borrower who co -signs this Security
<br />Instrument but does not execute the Note (a "co- signer'): (a) is co- signingg this Security Instrument only to mortgage, grant
<br />and convey the co- signer's interest in the Properly wider' s,termsofthus Security Instrument;
<br />(b) is not personally obbgated
<br />to pay, the sums secured by this Security Instrument and (c) agrees that Lender and any other Borrower can agree to extend,
<br />modify, forbear onnake any acconunodatrons with regard to the terms oflhis Security Instrument or the Now withoutthe co-
<br />signer's consent.
<br />Subject to the provisions of Section 18, any Successor in hnerest ofBon'ower who assuunesBorrowers obligations
<br />under this Secaoly Instrument in writing, and is approved by I.mdcr, shall obtain all offtw uwer's rights' and beruefits under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under thus Seenrity
<br />Inatrumentimless Lender agrees to such release in writing. The coveranls and agreements ofthis Seem'ity Inrranteitt shall
<br />bind (except as provided in Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrmver fees for services performed in connection with Borrower's
<br />default, for the purpose of protecting Lender's interest in die Property and rights under dos Security Instrument, including,
<br />but not limited to, attorneys' fees, property inspection and valuation fees. In regard lm any other Ices, the absence of espreso
<br />authority in this Security Instrument to chargge a specific fee to Borrower shall not be construed as a prohibition on the
<br />charging of mch fee_ fender may not charge (ces that are expressly prohibited by this seem ity inshwnent or by Applicable
<br />Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the
<br />interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a)
<br />any mch loan charge shall he reduced by the amount necessary to, educe the chat go to the permitted limit mid (b) my suns
<br />NEMU04"- Single Family— Fmude M.,Trvddie Mxe UNIFORM INSTRUMENT Fmm3038 1 /01 essie5oj8pag )
<br />vrssov(vet) inww
<br />.Toccca,ca)
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