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200213193
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall
<br />be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds =it Lender has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as
<br />the work is 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 earnings on such Miscellaneous
<br />Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneous Proceeds shall he 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 applied
<br />to the sums 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 />Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
<br />secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
<br />Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before
<br />the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the
<br />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 the fair market value of the
<br />Property immediately 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 Lender otherwise agree in writing,
<br />the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then
<br />due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined
<br />in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30
<br />days after the date the notice is given, Lender is authorized in collect and apply the Miscellaneous Proceeds either to
<br />restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing
<br />Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right
<br />of action in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,
<br />could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under
<br />this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section
<br />19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the
<br />Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The
<br />proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are
<br />hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor
<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 Borrower or to refuse to extend
<br />time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand
<br />made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any
<br />right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors
<br />in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any
<br />right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that
<br />Borrower's obligations and liability shall be joint and several. However, any Borrower who co -signs this Security Instrument
<br />but does not execute the Note (a "co- signer "): (a) is co- signing this Security Instrument only to mortgage, grant and convey
<br />the co- signer's interest in the Property under the terns of this Security Instrument; (b) is not personally obligated to pay the
<br />sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security Instrument or the Now without the co- signer's
<br />consent.
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