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<br />200600441
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<br />DOC ID #: 00012396471312005
<br />As a result of these agreemems, Lender, any purchaser of the Note, another insurer, any reinsurer, any
<br />other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
<br />fi'om (or might be characterized as) a portion of BOlTower's payments for Mortgage Insurance, in exchange for
<br />sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an
<br />affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the
<br />insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any SlUIch flgreemcnts will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, orlmy other terms of t1w Loan. Sucll1 aglref.!lllcnts will not lnl~rease the amount Borrower will
<br />owe fon' !Iv[ortglllge, Immranl~e, a,nd they willlllot entitle BOJrrower to any re1fund.
<br />..(b) Any slUclll agreements will not atl'f'cr the rights Borrower h!l1s ~ if any ~ with respect to the
<br />Mortgll;~e Insurance under the l-IomeolVlllers P.'otection Act of 1998 or Ilny other law. These rights may
<br />include the right to receive certain disclosKlrltls, to request and obtain cancellation of the Mortgage
<br />Insurance, to hav~ thc,Mm.tgllge <<nlurance terminated automatically, and/or to receive a refund of any
<br />Mortgage Insurlllllce premiums that were ~1Il",arned at the time of such cancellation or termination.
<br />11. Assignment of Mis,cellancous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall he paid to Lender.
<br />If the Property in damaged, ~llch Miscellaneous Proceeds shall he applied to restoration or repair of the
<br />Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such
<br />repair and restoratk,n period, Lender :;hall !uwe the right to hold such Miscellaneous Proceeds until
<br />Lender has had an opportlln~lY to illfp,~ct such P'..op'~rty to ensure the work has been completed Lo Lender's
<br />satisfaction, pn1vidt:d tlnt such in'll"'i:tion ~hall be \lndeltaken promptly. Lender may pay for the repairs and
<br />restoration in 8. sir"gle disbursement orin a ~;t.:ries of progress payments as the work is completed, Unless an
<br />agreem'~lIt is made in writing or AppIicabli: Law requires interest to be paid on such Miscellaneous Proceeds,
<br />Lf:nder shall not be required to pay Borrower ,my inte:rest or eamings on SLIGh Miscellaneous Proceeds. If the
<br />restoration or repair is not econom'cally ff::ilsible or Lender's security would be lessened, the Miscellaneous
<br />Proceeds shall be ;lPplied to the sums secured by this Security Instrument, whether ol'not then due, with the
<br />exces~;, if ;;lilY, paid to B'mower. Such Miscellaneous Proc';x:ds shall be applied in the order provided for in
<br />Section 2.
<br />!n the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
<br />shall be applied to thl' sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrow'~r.
<br />In the 'cve:lt of .1 partial takin g, deslxclC ti on, or ]O~'S in value of the Property in which the fair market value
<br />of the Property immediately bel'(lre ::he partial taking, df:struction, or loss in value is equal to or greater than
<br />thl: amount oflh :llU1lfl sccuI<)d by rhis :'kcurity Instrument immediately bdor,: the partial taking, destruction,
<br />or loss i!l valu~, unless Bortower :md Le.:l1der otherwise agree in writing, the sums secured by this Security
<br />It\strl.lment ~,hall b<: reduced by tht; amount of the Miscellaneous Proceeds multiplied by the following fraction:
<br />(a) the total amount of the SUIllS secured irnnKdiatdy before the pmiial taking, destruction, or loss in value
<br />di vided by (b) the fair market value of the Property immc~diately before the partial taking, destruction, or loss
<br />in vahle, Any balance slu:.ll be paid to BOJTO\i\il~T.
<br />In the e:vent of a partial taking, destruction, or loss in value of the Property in which the fair market value
<br />of the PlOperty ircune,.liately h~fore the pUltial taking, destmction, or loss in value is less than the amount of
<br />the slim;: seeur,eel L:Ilmediately before the pattial taking, destruction, or loss in value, unless Borrower and
<br />Lender ('fhcr'lIise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />Security Instrull1ctlt whether or no:- tb,~ s.an:1 are then due,
<br />If the Prop,:,.i::: i! ",l:Jandoned hy Borrower, or if, after notice by Lender to Borrower that the Opposing
<br />Party (m; defined ill th,~ no:xl sel:tencc) off;~rs to make an award to settle a claim for damages, Borrower fails to
<br />respond to Lwde, within 3(1 d.ays finer the Ij"tc the notice is given, Lender is authorized to collect and apply
<br />th,~ Mi:,cellanectls Procceds either 10 n,storalion or H:pair of the Propel1y or to the sums secured by this
<br />Se1curity JnstruLlCnt, whether or no! then due. "Opposing Party" means the third party that owes Borrower
<br />Misc:ellaneom Proceeds or tbe party against whom Borrower has a right of action in regard to Miscellaneous
<br />Proceeds,
<br />Borrower shaH be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, cou.ld re~:ult in f<lrfeitul: of the Property or other material impairment of Lender's interest
<br />in the Property at' rights under thi~ 5:ecur.ity ImtrUlu<;:nt. Borrower can cure such a default and, if acceleration
<br />has OCCLlIT,~d, reins~ate as provid(~d in Section 19, by causing the action or proceeding to be dismissed with a
<br />ruling that, in Lcnder'sjudgrn.:'llt, 1"1 v(:lud,~s forfeiture of the Property or other material impairment of Lender's
<br />interest in the Projlerty or rie:lrts rnder thi:) Security Instrument. The proceeds of any award or claim for
<br />damage;; that an: attributable to Ek' i,mp;:linm:nt of Lender'!: interest in the Property are hereby assigned and
<br />shall be paid to Lt:nJ\~T. I
<br />AI) J\1isc'~1I:lneous Proce,ed, that ari.~ nut :l[Jplied to !.'~st()ration Ot repair of the Property shall be applied in
<br />the on-kr provideJ for in Section 2,
<br />n. Bon'ower Not Released; Ifi'Ol'btli1r.'falnee By Lende,r Not fl Waiver. Extension of the time for
<br />payment or ITIodifkation of arnortizatioll of the SLIms secured by this Security Instrument b'Tanted by Lender to
<br />Borrower or any S ,lcccssor in Intere!:t uf Borrower shall not operate to relea1ie the liability of Borrower or any
<br />Successors in In::<:rest of BUITower. Lender Sh~iH not be required to eommence proceedings against any
<br />S)cccssor in fllteresL rf B(.rl"l_lW~r or t) r",fuse te extend time for payment or otherwise modity amortization of
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<br />c~, .,M,(NE) (04117\
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<br />CHL {(.I810!!1
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<br />Pa\:le 7 l1f 11
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<br />Form 3028 1101
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