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200603224 As a result of these agreements. Lender. any pureh:lser of the Note. another insurer. any relllsurcr, any otber entity. or any affiliate of any of the foregoing. nwy receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's paYlllents for Mortgage Insurance, in exchange fiJr sharing or modifying the mortgage insurer's risk, or reducing losses. I I' such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange I'llI' a share of the prellliums paid to thc insurer, the arrangement is often termed "captive reinsurance" further: (a) Any such agreements will not affect the :lIllOunts that Borrower has agreed to pay for Mortgage Insurance, or :lI1y' other terms of the Loan. Such agreements will not increase the amount Borrower will owe for :\-Iortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any' - with respect to the 1\1ortgage Insm'ance under the Homeowners Protection Act of 1998 or :lI1y other hlw. These rights may include the l"ight to receive certain disclosures, to request and obtain cancellation of the Mortg:lge Insurance, to bave the Mortgage Insur:lI1ce terminated automatically, and/or to receive a refund of any \'lortgage Insurance premiums that were unearned at the time of such cancellation or tel'minatioll. 11. Assignment of .\1iscellaneous Proceeds; Fod'eiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged. such Miscellaneous Proceeds shall be applied to restoration or n:pair of the Property. if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds unti I Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction. provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a serics of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Lmv requires interest to be paid on sucb \1iscellam.:ous Proceeds. Lender shall not be required to pay Borrower any interest or earnings on sueh Miscellaneous Proceeds. I I' t he restoration or repair is not economically feasible or Lender's security would be lessened. the Miscellaneous Proceeds shall he applied to the sums secured by this Security Instrument whether or not then due, with the excess. if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided f(lr in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the :'v1iscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with the excess, if any. paid to Borrower. In the event of a partial taking, destruction. or loss in value of the Property in which the fair lllarket value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the f(lllowing fi'action: (a) the total amount of the sums secured immediately bcf(llT the partial taking. destruction. or loss in value divided by (b) the fair ITlilrkct value of the Property ilTnlTediately before the partial taking, destruction.. or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction. or loss in value is less than the alnount of the sums secured immediately before the part ial tak i ng, destruction. or loss in val ue. un less Borrower and Lender otherwise agrce in writing, the Miscellaneous Proceeds shall be applied to thl' sums secured by this Security Instrument whether or not the sums arc then due. If the Property is abandoned by Borrower, or if after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an a\vard to settle a claim fill' damages. Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in n.:!.!ard to Miscellaneous Proceeds. ~ Borrower shall be in dcf~lult if any action or proceeding, whether civil or criminal. is begun that, in Lender's judgment could n:sult in f(lrfciture of the Property or other material impairment of Lendcr's interest in the Property or rights under this Security InstrUlnent. Borrower can cure such a default and, if Initi8ls: _dSL1 0110247970 .-6(NE) (0407).01 (!Y Page 9 of 15 Fonn 3028 1101