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<br />BB/21/2005 04:44
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<br />6192933420
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<br />HLCMV
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<br />PAGE 06/31
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<br />200701807
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<br />If the Property is damaged, such Miscellaneous Proceeds shall be al?l?lied to restoration or repair of the
<br />Property, if the restoration or repair is econ,omi.ea1ly feasible and Lender's security is not lessened. Dur:ing such
<br />repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had
<br />an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided
<br />that such inspection shall be und~en promptly. Ltnder may pay for the repairs and restoration in a single
<br />disbursement or w a series of progress payments as the work is completed.. UnllllS5 lID agreement is JIl/ldc in writing
<br />or Applicable Law requires interest to hI;! paid on such Miscellaneous Proceeds, Lender shall not be required to pay
<br />Bo1TOwer any interest or earnings on such Mi:scellaneous Proceeds. Subject to the rights of any lienholder with
<br />rights to Miscellaneous Proceeds that are superior to Lender's rights, if the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the Miscellalleous Proceeds sbllll be applied to the sums sccured by
<br />this Security Instrument whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous
<br />Proceeds shall be applil:d in the order provided fOI in Section 2.
<br />Subject to the rights of any lienholder With right1l to Miscellaneous Proceeds that are superior to Lender's
<br />rights, in the event ofa total taking, destruction, or loss in value of the Property, tbe MiGcellanc01ls PJ:oceeds shall be
<br />applied to the suxns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to
<br />Bonowe:\".
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of
<br />the Property immedi.ately before the partill.l tIl.ldng, destruction, or loss in value is eqtlal to or greater tb.an the amount
<br />of the sums stewed by this Security Instnmlent immediately before the partial taking, destruction, OI 10,11 in value,
<br />unless Borrower: and Lender otherwise agree in writing, the sums secured by this Security Instrwnent shall be
<br />reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of
<br />the sums secured immediately before the pllrtial taking, destruction, or loss in value divided by (b) the fair market
<br />value of the Property hnmediately before the partial taking, dMtruction, or loss in value_ Subject to the rights of any
<br />lienholder with tights to Miscellaneous Proceeds that lIle superior to Lender's rights, any balance shall be paid to
<br />Borrower.
<br />In the event of a partial taking, dellflUction, or loss in valuc of the Property in which the fair market value of
<br />the Property immediately before the partial taking, destruction, or loss in value is less than the BIJ101Ult of the sums
<br />secured inunediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise
<br />agree in writing, the Miscellaneous PrOCeeds shall be applied to the swns secured by thi$ Securi,ty rn~ent
<br />whether or not the sums are then due, subject to the rights of 8Xly lienholder with tights to Miscellaneous Proceeds
<br />that are superior to Lender's tights.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party
<br />(as defmed in the next sentence) offers to m.akt an award to settle a clatin for damages, Borrower funs to respond to
<br />Lender within 30 days after the date the notice is giveu., Lender is 8uthori,zed to collect and apply the Miscellaneous
<br />Proceeds either to restoration or repair oCtile Property or to the &Un1.!I secured by this Security Instrument, whlrther. or
<br />not then due, subject to the rights of any lienholder with rights to Miscellaneous Proceeds that are superior to
<br />Lender's rights. "Opposing Party" mea,nlll the third party that owes Borrower Miscellaneous Proceeds or the party
<br />against whom Borrower: has a right of action in regard to Mi8<:dlaneous Proeeeds.
<br />Borrower shall be W default if any action or proceeding, whether civil l)J: criminal, is begun that. in
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the
<br />Property or rights under thjs Security Inst;ru,m,ent Borrower can cure such a default by causing the action or
<br />proceeding to be disrtrissed with a ruling !Mt, in Lender's judgment, precludes fOJ:fejture of the Pro~rty or other
<br />material impainnent of Lender's interest in the PrOperty or rights under tbis Security In.s~nt. 'the proceeds of
<br />any aW31:d or claim for damages that are. attributable to the impai:nnent of l.en.der's interest in the Property are
<br />hereby assigned and shall be paid to Lender.
<br />. All Miscellaneous Proceeds that are not applied to l.'cstoration or repahoC the Property sba1l be applied in
<br />the oreet pmvidcd for in Section 2, subject to the rights of any lienholder with rights to MiscellancollS Proceeds that
<br />are superior to Lender's rights.
<br />10. BorrOwer Not Released.; Forbearance By Lender Not a Walve;r. Extension of the time for
<br />payment or modification of aroortization of the SlU\lll secured by this Security Instrument granted by Lender to
<br />Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any
<br />Successors in Interest of Borrower. Lender shall not be required to COmmence proceedings against any Successor in
<br />Interest of Borrower or to refu3e to extend time for payment or otherwise modify amortization of the sums .secured
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<br />iiili-liliililiinii (5/4106)
<br />
<br />(pqe,$ of 13 p~)
<br />Documenb ProcBlllW. 02-02~007, 15:16:21
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