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<br />200600582
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<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly Or indir~tly) amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an affiliate of Lender rakes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />'(a) Any suc:h agreements will not affect the amountli that Bomwer hall agreed to pay for
<br />Mortgage Insurance, or any othe..- ternu of the Loan. Such agreements will nOl increue the amount
<br />Borrower will owe for Mortgage Insuran~J and they will not entitle Borrower to any refund.
<br />(b) Any luch agreements will not aITeel the rights Borrower has ~ If any - with ..espect to the
<br />Mongage Insurance under the Homeowne.., Protection Act of 1998 or any other law, These rillhts
<br />may Include the right to receive eertain disclosu..-es, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated 8utomatlaally, and/or to receive a
<br />..-efund of any Mortgage IlUIurance premiums that were unearned at the time of suth cancellation or
<br />tenninatlon.
<br />11. Assignment of Miscellaneous Proceed8j Forfeiture.. All Mitlcellan~ous Proceeds are hereby
<br />assigned to and shan be paid to Lender.
<br />If the Property is danu.gecl, such Miscellaneous Froceecls sWill be applied to :r:estoration or repair of
<br />the Property, if the restoration or repair is economiCally feasible and Lender's security is not lessened,
<br />During such repair anet restoration period, Lender shall hav., the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided Ehat such inspection shall be undertaken promptly. Lend,l." may pay for the
<br />repairs and restoration in a single disbursem~t or in a $ClneS of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to b, paid on such.
<br />Miscellaneous Proceeds, Lender shall not be re~uired to pay Borrower any interest or lolarnings on such
<br />Miscellaneous Proceeds. If the restoration or repalr is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />Whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shaU be
<br />applied in the order provided for in Section 2.
<br />In the event of s. total taking, d.estruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instnunent, whether or not then due, with
<br />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
<br />value of the Property immediately before the partial taking, destruction, or loas in value is equal to or
<br />greater than the amount, of the SUnlS secured by this Security Instrwnent immediately before the panial
<br />taking, destruction. or loss in value, unless Borrower and Lender otherwise agree in writing, the s.ums
<br />secured by this Security In8~ent shall be l."educed by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the SUInS secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair, market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the /Went of a partial taking, destruction, or loss in value of the Pl:'operty in wliich the fair market
<br />value of the Property inunediately before the partial taking. desu:uction, or loss in value is less than the
<br />amount of the sums aecUllJd immediately before the partial taking, destruction. or loss in value, unless
<br />Borrower and Lender otherwise agree in wdting, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrutnent whether or not the sutns arc then dUe.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposina Party (as defmed in the next sentence) offCl,"s to make an award to settle a claim for damages,
<br />Bonower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneous Proceecls either to restoration or repair of the Property Or to the
<br />sums secured by this Security Insttument, whether or not then clue. "Opposing Party" means the third party
<br />that O\>les Bol."rower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />regaret to Miscel1ancoUll Proceeds.
<br />Borrowel;' shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Prop.,rty or rights under this Security Instrument. Borrower can cure such a default and, if
<br />acceleration bas occuuecl, reinstate as provided in Section 19, by causing the action or proceeding to be
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<br />E990a02 IMI.Ia: \\ 1 / K.#j:.
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<br />CIt-eAINE) 10407) P"lI" e of 15 ~ Form 30.ae 1/01
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<br />dJO~ ~OJ)Sj ~ ~lt!l tSd~YtJON
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<br />~d9S:~ 900~ 'Ol 'u-er
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