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200214302 Mortgage Insurers evaluate their total risk on all such insurance in franc from lime to time, and mayenter into agreements with other parties that shall or moony theu t isle, or reduce losses. These agreements as on terms and conditiar, that are satisfactory to the mortgage insurer and the other party (or parties) to these sin cements, These agreements may require the mortgage insurer to make payments using any Seat cc oftulids that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any put chaser of note, another insurer, any remsurer, any other entity, or affiliate of onv afthe foregoing, may receive (direclh of indirectly) amounts that derive from (or might be characterized as) a Pathan of Borrower's payments for Mortgage Insurance, in cxchonge I'or shoving or modifying the mortgage insurer's' risk, of ratio cing losses. It Samb agreement provided that an a liime ofMdei takes it shm'e at the insurer's risk in exchange for a share of the prcmtums paid to the insurer, the anuigement is often termed "captive reflect once," Further'. (a) Any such agreements will not affect the aniounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borroncr to any refund. (h) Any such agreements will not affect the rights Bortrower has —if any — with respect m the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forl'eitatc. All Miscellaneous Proceeds arc hereby assigned it) and shall be paid to Llmdc,. It the Property is damaged Stich Miscellaneous 1locaeals Shall he applied to restoration or repair ofthe Property. 11 the restoration or repair is economically feasible and I cadet's term try is not lessened, lluring such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Undu's smistaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in wilting or Applicable Law requires interest to be paid on Such Miscellaneous Proceeds, Lender shall not be required to pay, Borrower any interest a earnings on such Miscellaneous Proceeds. Ifthe i eslaranon or repair is not economically feasible er Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Insilement whether or not then due, with the excess if paid to Borrower. Such Miscellaneo¢s Proceeds shall be applied in the radar provided for in Section 2. In the event of a total faking, destruction, or loss ii value of the Property, the Miscellaneous Proceeds shall he applied to the sums secured by this Security lnstrument, whethca or not then due, wish the excess, if any, paid to Borrower. In the event of a Partial taking destruction of loss in value of the Property in which the fair market value of the Property immediately before the pai nail taking, devil action, a loss in value is equal to or greater than the amount of the sums secured by this Security lnstrument immaliolely before the partial salt destruction, Or loss in value, unless Borrower and Lender otherwise agree in writing, the sums seemed by this Security Instrument shall be ruluced by the amount of the Miscellaneous Proceeds multiplied by the toll,r fraction. (a) the total amount of the Sums secured immediately beto tithe partial taking, destruction, or loss in value divided by (b) the fair market value ofthe Property immediately before the partial taking, destruction, Or loss in value. Any balance shall he paid to Borrmver. In the event ofe, pan (fill akint , cast ruction or loss in ealne othhe Property in which the fill, market value of the Property immediately before the partial taking, dcsn act o i Or loss at value is less than the amount of the sums secured immediately before the partial taking, destrucion or loss it, value, unless Borrower and Lender otherwise agree in writing the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument whether or not thesums arethen due. If the Property i5 abandoned bs Boncowca. of it, after notice by Lender to Borrower that the Opposing Party (us defined in the next sentence) offers to make an award to settle if date for damages, Borrower fails to respond to Under within 30 days after the date the notice is given. Lender is acki nzed to collect aill apply the Miscellaneous Proceeds either to restoration oil repair of the property or to the sun» eecu¢d by Ibis Sesmity Inetrumeat. whether ar not then dust "Opposing Party means the (hind parry That Owes Borrower Mucelfaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default it any action or proceeding. whether civil or criminal, is begun that, in Lender's judgmenf,could result in totfcitureofthe Property crochet material impairiontol Under's interestin the Propertyorrishas under this Security Instrument. Borrower can cure such a demull and, tf acceleration has occurred, mtnstateas provided in Section 19, by causing the action or proceeding to be dismissed with a riding that, in Lencla'sjudgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property of rights under this Security Instrument The Proceeds ofany award or claim for damages that are art, fair to the impairment of Lender's interest in the Property Lite IS assie ad and shall he paid to Lender. All Miscellaneous Proceeds that are not applied to restoration oil repair Of the Property shall be applied in the order provided for in Section 2. 13. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment "t modification of amortization ofthe sums secured by this Sc,m,y TO, event grunted by (Ender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence It occedines agai list any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization ofihe sit is secured by this Security Instrument by reason orally demand made bythe on nail Borrower or any S uccessols i n lntere,t of Borrower. Any forbear ance by Under in exercising any right or remedy including, without limitation, 1 eider's acceptance of payments firm third persons, entitles or Successors in i Interest of Borrower or in amounts less than the amount then due. Shall not be a waiver "for preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants and as ties that Borrower's obligations and liability shall be joint and several. Howcve , any Borrower who co -signs this Security Instrument but does not execute the Note (a `co- signer')_ (a) ism- sinurn, this Security Instrumentalist, mortgage grant and convey the co-signel's interest in the Property under the lenna ohhr s Sccuttty Instrument, (h) is not personally obligated to pay the emsseen red by this Sccunty Instrument an (a) agrees that Leldcrtmd anv Other Borrower can agree to extend, modify, forbear or make any accommodations with regw d to the Terms of this Security Instrument or the Note without the co- signer's consent. Subject to the ptoi tstons of Section 18 any Successor in Interest ofBorrowet whoassumes Borrower's obligations under this Security instrument in smiting, and is appaoS dI)) Under, shall obtain all of Boteson's rights and benefits under this' Security Instrument Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless lender agrees to such release in writing 'Ihe covenants and agreements of this Security firi umentshull and (except as provided in Section 20) and benefit the successo s and assign Of Under. 14. Limn Charges. Lender may charge Borrower tees for services performed in connection with Borrower's default for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited m, atlorncys' tees, in roperty inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Iuurumenl to chat ple a specific fee to Borrower shall not be construed as a prohibition On the charging of such fee. Lender may not charge pees that are expressly prohibited by this Security fast umem or by Applicable Law, It tire Loon I, ullject to it law which sets maximum loon charges, and that law 1 finally Interpreted so that the inna test or other loan charges col leered oil m be collected ii connection with the Lain exceed the permitted Iimtn. then' (ee) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit and ho any sums NFSINSKA- ion, s, Fnlnl ly- FIIiilfNuais/h 'out, Noe CMI4MM INSftatf➢14:N'r Form JOPS 1101So,5v8yagna 9t54 .CV 01021 unP51