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<br />200603823
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<br />As a result oltht:sl' :Igrt:t:mt:nts, Lt:nckr, any pUlThas,:'r or the Note, anotht:r insurer, any reinsurer,
<br />any other entity, or ;llIY ;illili;lte or any or thc foregoing, Ill;l' rL,t:cive (directly or indirectly) amounts that
<br />derive from (or might be cbmacterized as) a portion of Bonower's payments for Mortgage Insurance, in
<br />excbange for shari ng or modifying the mortgage insurer's risk, or reducing losses, If such agrecment
<br />provides that an ;lllili;ltl' 01' Lender takcs a share or the iLsurer's risk in exchange for a share of the
<br />premiums paid to the inSllrer, U1I: arrangelllent is orten termed "clptive reinsurance." Further:
<br />(a) Any sllch agn'ell1ents will not affect the amOll:lts that Borrower has agreed to pay for
<br />Mortgage Insurance. oj' an)' other terms 01' the Loan. SlIch agreements will not increase the amount
<br />Borrower will owe for i\loftgage Insurance, and they willllot entitle Borrower to any refund.
<br />(b) Any sllch agreements will not affed the rights Borrower has. if any. with respect to the
<br />Mortgage Insul'l1l1ce Ullcler the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance tel'il'inated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that werc ullearned at the time of such cancellation or
<br />termination.
<br />II. Assignment of ,\liscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc hereby
<br />assigned to and sh;ill he 1;;lidlo Lender,
<br />If the pl"()peny is d;lln;12cd, such Miscell;lncous Procecds shall be applied to restoration or repair of
<br />the Property, if till' rl~slormion or repair is cconomically kasihle and Lender's security is not lessened,
<br />During such rcpair :llld re'i(ur;ltion period, Lender shall have till' righl to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunily to inspect such Properly lo ensure the work has been completed to
<br />Lender's satisfaction. provided that such inspection shall be undertaken promptly, Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed, Unless an agrl'cment is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Prueeeds, : _ender shall nOl he required to pay Borrower any il1lcrcst or earnings on such
<br />Miscellaneous Proceeds, II' the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the M iscel !:ineous Proeceds silall be appl ied lo llie sums secured by this Security Instrument,
<br />whether or not then elue, with the excess, if any, paid to BmlOwer. Such Miscellaneous Proceeds shall be
<br />applied in the ordn pnlVlllcd for in Section 2,
<br />In tile evelll or a tut;i1 taking, destrul'lion, or loss in value of the Property, the Miscellaneous
<br />Proceeds sl1<111 be appliel! (U Ihe sums set:ured by this Secul'ity Instrument, whcthcr or not thcn due, with
<br />the excess, if any, paid to i30rrower,
<br />In the event uf :1 P:ll'li:iI laking, destruction, or loss in v,i1ue of the Property in which the fair market
<br />value of the Propl'rty illlil1cdiately before the partial taking, destruction, or loss in value is equal to or
<br />greatcr than tile amount of lile SUlllS secured by this Security Instrument inunediately before the partial
<br />taking, destrul'lion, or luss in value, unless 13orrower ami Lemler otherwise agree in writing, the sums
<br />set:ured by this Security InslTument shall he ruluced by tbe a.mount of the Miscellaneous Procceds
<br />multiplied by the rollowlng fraction: (a) the total amount of the sums secured immediately before the
<br />partial raking, de:;tructiou. or loss in value divided by \b) the fair market value of the Property
<br />immediately before Ihc p;lrli;i1 taking, destruction, or loss ill v;i1ue, Any balance shall be paid to Borrower.
<br />In the event ur ;1 p;llti;i1 taking, destruclion, or loss iu valul' of the Property in which the fair market
<br />value of the Propnt\ illlll:\.'di;ltdy before the partial takillg, de.',lruction, or loss in value is less than the
<br />amount of the SUIIIS sel'Clr,:d immediately before the parti;d taJ..lllg, destrw.:tion, or loss in value, unless
<br />Borrowcr and LClldn otlinwise agree in writing, the Misel'lLlIll'ous Proceeds shall be applied to the sums
<br />secured by this Security Instrllment whether or not the sums are then due,
<br />If the Property is ab:lI1doned by 80rrowcr, or if, alkr notice by Lender to Borrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to re:;[Jolvl t,) Lender within 30 days after the dale the notice is given, Lender is authorized
<br />to collect and apply the Ivl iscellaneous Procceds either to restoration or repair of the Property or to the
<br />sums sccured by this Scc'Irily Inslrurnent, whcther or not thcn due, "Opposing Party" mcans the third party
<br />that owes Borrowl~r :VI is:_'el LlI1eOllS Proceeds or the party against whom Borrower has a right of action in
<br />regard to MiscellaIll'llllS i)ron'eds,
<br />Borrower shall Ilt' I'l d':'fault if any actioll or proceed in!,'. whether civil or criminal, is begun that, in
<br />Lcnder's judgment. could result in forfeiture or the Properly or other material impairment of Lender's
<br />interest in thc Propntv (d' I'ights under this Set:urity Instrull1ent Borrower can cure such a default and, if
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<br />I!i:lqe 9 ot 1 ~
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<br />1,,;(;8Is: '1.:,11
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<br />0110252081
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<br />Q-6(NEIIO'\0710
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<br />Form 3028 1/01
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