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200703032 ~ ,. 8250190803 receive eertIlIn dl~..... to requHt and obtain C8nCltIlldIon of the lIor1gege InllUl'Mce, to have the Mortgage In8Ul'llnce tennlnatod automllllcally, and/Gf to fIlOtIve a refund of lM1Y MorIgage Ineurance P"lmluma that we... U1nearned at the tIMt of llUCh ~1atIon or mrtnlnatlon.. 11. A881gnmllJnt of MIecelIanIIJoua Proceede; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Misc;ellaneous Proceeds shaD be applied to restoration or repair of the Property. if the restoration or ~ is economically feasI)le and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been compJeted to Lender's satisfaction. provided that such inspection shall be undertaken promptly. Lender may pay fof the repairs and restoration in a single disbursement or in a series of progress payments as thewor1c is completed. Unless an agreement Is made in writing or Applicable Law requires interest to be paId on such Miscellaneous Proceeds. Lender shall not be required to pay Borrower any Interest or eamlngs an such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or L.ender's security would be lessened, the Miscellaneous Proceeds shaH be applied to the sums secured by this Security Instrument, whether or not then due, with the exCllJ$$, if any, paid to Borroww. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In theeventof a total taking, destrucllon, or loss In value of the Property, the MlsceIIaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to 80Jr0wer. In the event ofa partial taking, deslnJction, orlo$s In value of the Property In which thefalr market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, de$lnJction, or loss in value, unless Borrower and Lender otherwiM agrl!le in writing, thE! StlmtI MCUrl!Id by this Security Instrument shall be reduced by the< amount of the Miscellaneous Proceeds multiplied bythefollowing fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market w1ue of the Property immediately before the partial taking, destruction, or loss in vatue. Any balanC(l shall be paid to Borrower. In lhe ewntofa partial taking. destruction, or loss in value of the Property in which thefairmarketvalueoflhe Property immediately before the partial taking, destruction, or loss in value is iaIls than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in wrttlng, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whethttr or not the sums are then due. If the Property Is ebandoned by Bonower, orlf, after notice by L.endetto Borrowerthatthe Opposing Party (as defined in the next sentence) offefS to make an award to settle a claim for 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 Of 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 regard to Miscellaneous Proceeds. Borrower shall be in defaultifany action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Socurity Instrumont Borrowor can curo such a ddault and. if aceoklration has occurrGd, reinstate as provided In Section 19, by causing the action or proceeding to be dlsmis$ed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material inpalrment of Lender's Interest In the Property or rights under this Security Instrument The proceeds of any award or claim fordamagoo that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be pald to Lender. All Miscellaneous Proceeds that are not applKld to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability 01 Borrower or any Successors in Interest of Borrower. Lender shall not be required to commenC(l proceedings against any Successor In Int$l'9$t of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any SUCCe8SOnl in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including. without limitation, Lender's acceptance of payments from third persons, entities orSuCCGssors In InterestofBorroweror In amounts less than 1t1e amount then due, shall not be a waiver of or preclude the exercise of any right or remedy, 13. Joint and Several U8bIIfty; Co4ignera; Successors and AnIgns Bound. Borrower covenants and agrees that Borrow9r'llC obIigationllC and liability shaD be joint and several. Hcmewr, any Borrower who c:o.signs this Security Instrument but does not execute the Note (a "eo.signer"): (a) is co-signing this Security Instrument only to mortgage, grant and oonveythe co-signer's interestin 1he Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend. modify, forbear or make any accommodations with regard to 1he terms of this Security Instrument or tho Note without the CQ--$igner's consent Subject to the provisions of Section 18, any Successor In Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shaH ablUl all of Borrower'$ rights and benefits under this Security Instrument. Borrower shall not be released from Borrower-'s obligations and liability under this Security InslJUment unless Lender agrees to such release in writing. The covetlants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the SUoces8Of$ and assign.. of Lender, 14. Loah Charge&. Lender may charge Borrower1ees for services performed In connection with Borrower's default, for the purpose of protecting Lender's interest in 1he Property and rights under this Security Instrument, including, but not limited to, attomeys'fees, property inspection and vaiuationfrHls. In regard toanyolherfees, the absence ofexpress authority In this Security Instrument to charge a speclllc fee to Borrower shall ncrt be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. !l If the Loan is subject loa lawwhich SIIJb maxlmum loan charges, and thatlawis flnallylnterprewd so tija or other loan charges collected or to be collected in connection with the Loan exceed the permitted Ii I~itial.. 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