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200214063
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreemcns with other parties that share or anodttytheir risk, orreduce losses.These agreements are atermsandconditions
<br />that are satisfactory to the mortgage insurer and the other party (or� allies) to these agreements. These agreements may
<br />require the mortgage insurer to make payments using any source o funks that the mortgage insurer may have available
<br />(which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements. Lender,any liurchawrof the note, another insurer, any I'cusorei, any other entity.
<br />or affiliate of of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion oflorrower's payments for Mortgage Insurance, in exchange for shaiingoi modifying the mortgage ins'urer's
<br />risk or reducing losses. Ifsuchagrearantpiovi ed that an affiliate of Lender takes a share of the insurer's risk In exchange
<br />for a share of the premiums paid to the insurer, the arrangement ix oReu termed "captive reinsurance." Further:
<br />(d) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has — if any — with respect to the Mortgage
<br />Insurance under the homeowners Protection Act of 1995 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 automatically, 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. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are thereby assicard to and
<br />shall be paid to lender.
<br />If the Property is damaged, such Mi see I annuls, Proceeds shall be applied to restoration or repair of the Property, it
<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 m hold such Mizccllnneous Proceeds until 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 the
<br />work is completed. unless an agreement is made in writing or Applicable Law requires interest to he 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 it repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />Proceed, shall be applied to the sums secured by this Security instrument, whether,,, not then due, with the excess, if any,
<br />paid to Borrower Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />ht the event of a total taking, destruction, or loss In value of the Property, the Miscellaneous Proceeds shall be
<br />applied 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 fait market value of the
<br />Property immediately before the partial taking, destruction, or loss in value's equal to or greater than the amount of the so.,
<br />secured by this Security Instrument immediately before the partial taking, destruction, of 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 the
<br />partial taking, dcstmction, or loss in value divided by (b) the fair market value of the Property immediately before the partial
<br />taking, destruction, or loss in value. Any balance shall he paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value of the
<br />Property immediately before the partial taking, destruction. or loss in value is less Man 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 whetherof not thesorm are thCn
<br />due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Burrower that the Opposing Party (as
<br />defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender
<br />within 30 days after the date the notice is given, Lender is authorval to collect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due.
<br />"Opposing Party" means the third party that,,wes Borrower Misccllanums Proceeds or the party against whom Borrower
<br />has a right of action in regard to Miscellaneous Proceeds.
<br />Borrower shall he in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's
<br />judgment, could result in forfeiture of the Property or other material impairment offender's interest in the Pmperh orru es,
<br />under this Security Instrument. Borrower can cure such a default and, ifacceleiaffair has occurred, reinstate as provided in
<br />Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lenders judgment, prcJudcs tiafeiture
<br />of Ore Property or other material impairment of Lender's interest in the Property e, righ s under this Securitylnst unrest. 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 ore 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 />analfifificalnut artier ization of the sums secured by this Security Instrumentgranted by tender to Bomrwerorstay Successor
<br />in Interest of Borrower shall not operate to release the liability of But or any Successors in Interest of Bot rower.
<br />tender shall not be required to commence proceedings against any Successor in lntemstoBorrower or Lo refuse to extend
<br />time for payment or otherwise modify amodizmion ) the sums secured by this Security Instrument by reason ofanydemand
<br />made bythe original Borrower or any Successors in Interest of Borrower_ Any forbearance by Lender in exercising any right
<br />or remedy inclut ing, wit cart limitation, lender's acceptance of payments from third persons, entities or Successors in
<br />Interest ,I Borrower of in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrowcrcuveramsandainees
<br />that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security
<br />Instrument but does not execute the Note (a "co-signer "y (a) is co- signing this Security Instrument only to mortgage, grant
<br />and convey the co- signer's interest in the Property under the terms of this Security Instrument; to is not pet s,,nallyobligated
<br />to pay the Sums Secured by this Security histr u infic and (c) agrees that Lender and any other Borrower can agree to extend,
<br />modify, for or make any accommodations with regard to the terms of this Security Instrument or the Note without theca
<br />signer's consent.
<br />Subject to the provisions of Section IS,any SuccessorinlnmmstafBom> wcr who assumes Borrower's obligatons
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />this Security Instrument Borrower shall not he released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing- 'the covenants and agreements of this Security instrument shall
<br />bind (except as provided in Section 20) and benefit the srocLowis and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's
<br />default, for the purpose of protecting Lender's interest in the Property and rights under this Security lush unseat including,
<br />but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express
<br />authority in this Security Instrument to charge a specific fee to Burrower shall not be construed as a prohibition on the
<br />charging of such fee. L ender may not charge Fees that are ex atessly prohibited by this Security Instrument or by Applicable
<br />Luw.
<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 lean exceed the permitted limits, then: (a)
<br />any such loan charge shall be reduced by the amount necessary to reduce the charge To the permitted limit; and (b) any sums
<br />NRBRASRA— Singly Family— r'anniaMae/Frcddu MUCUNIFORM INSTRUMENT ror.3028 1/01 (pnye5oJ'8so,, —1
<br />4.C11'v(I ) 1634x51
<br />GQrpl 011101111
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