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<br />200704727
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<br />DOC ID it 00016463810105007
<br />As a ,result of thtso aareemcnts. Lender. IIIIY purchucr of the Noto,lIIIOther iD8U1'er. Illy relnsURl', any
<br />other mtit)'. or any affiliate of any of the foreaoina, may receive (direetIy or bidircctly) ,",OWIts that derive
<br />ftom (or mlpt be ehanctarized as) . portion ofBorrower'. paymcntl for Mortpae InlUtlllce. in exchan&e fur
<br />Iharinc or modifying the mortpge inlum's tilt, or reduoiD& _es. If _ apeemont providea that IU'l
<br />affiliade of Lendor takes . share of the iaaurer'. risk in exohaaae for a aIwe of the premiums paid to the
<br />Insurer, the II'I'iIlaement Is often tamed "captive reinsuracc. " Further:
<br />(.) Any .udt ............. will not afI'ed tile IIDOIID" .... Borrower h.. qreed to JUly lor Mortpp
<br />I........ee, or .ny other tenas of the Lou. Soda 1'__." wID IlOt iaereue ... I.....nt Borrower wID
<br />owe for Mortpp lllsurua. alid tHy will Dot .tide Borrower to a.y reload.
<br />(b) A-, -Moh .......... wilt DOt aft'ett the ri&hts Borrower baa - If 'Il)' - ... ..~ to tile
<br />Mortp.......raace aader the Homeownen ProCedIcm Act of 1'" or I.Y other law. 11aae rlabfI..y
<br />ladude the ript to receive cer&ala diteb......, to requtet ad obblln caaeellldon of tile Mortpge
<br />wanDee, to h.ve theMortpp I..arilllee te,....ted ntoinatleally, aDdlor to naive . reftmd of uy
<br />Mortpp IlWIrIIIee p!'eDIlu" dial ..... UD_reed at tilt tim. of sadl eaaetUatloa or termloatioD.
<br />11. ADip...t of MfIceIIIDeOIII ProeeedI; ForfeJture. All Mi.oellllllClOUl Proceeds are hereby
<br />assigned to and shaU be paid to Lender.
<br />If the Property .. dahlapd. Sllcb MUc::ellaneous Proceeds shall be applied to ratoratlon or repair of the
<br />Property, If the restoration or repair Is ec:anomiClllyfoulble and LencWs .ecurity is not lcuencd. Duringauch
<br />repair and restoration period, Lender shall have the right to hold such MisocIIaDeous Proceeds until
<br />Lenderhai had an oppOrtunity to inspect such Property to eJUUR the work bas been completed to Lender's
<br />sa1isf8ction, provided that such inspection shall be undortakcm promptly. Lender IDllY pay for the repairs an4
<br />restoratiOllin a sinale disbuncniant or in a IIrics of progresS paymems u the work Is. completed. Unless 1ft
<br />apeemem I. made in Mitin, or Applicable Law tcquires interest to be paid on such MIICllll8ftCJOU1 Ptocecds.
<br />Lenc1er shall not be requirocl to pay Borroww any intcnlt or evniaal on _ Miscellaneous Proceeds. If the
<br />restoration or ropair is not economically feasible or Lender's HCUrity would be IfIIOIlcd. the MiscellaPcous
<br />~ceds shill be appliod to the .ums secured by this Security Instrument, wbether or not then due, with the
<br />excess. if my, paid to Bonower. Such MiJctsllllDeOUl Proceeds sba1l be applied In the order provided fur In
<br />ScetiOll 2.
<br />In the evcmt of a total UIkin& 4utntction, or 10ss in value of the Property, the Misccllailcous Pro<<lOCds
<br />shall be IJ)p!icd to tho sums ,1OtlUfIld by 1hi. Soeurity Instrument, whether or not then due, with the cxcea, if
<br />any, paid to Borrower.
<br />In the eveat of a pI1'tial takios. deatnJc:tion, or lost in value of the Property in which the tm market value
<br />of tho Property immodJately hefonl the partial taking, dllltrUdion, or loss in value is equal to or greater than
<br />the amount Qftho sums securocl by this Security InIInmlent immediately befoRl the partial taking, destruction.
<br />or 10M in VIlue. unless Borrower and LoIl.tIer othmwfse .,.. In writina. the suml scoured by this Seourlty
<br />JnstnuneDt shall be reduced by the amount of the MlscoJlIneous Proceed. mWtiplled by the followina ffaction:
<br />(a) tho total amount of the SU1IlII1CC111'Cd immtdiately befotethe partial taldna. deatructfon, or Iou in value
<br />dividod by (b) the fair marUt v.l1Ml of the Property immediately betbre the partial takiq, destruction, or Iou
<br />in value. Any baltnce shall be paid to 80rr0wer.
<br />In the llYCIl1 of. parIiaI takins. destnlotIoa, or Iou in \lllue of the Property in which the fair market value
<br />of the Property lmmediaroly befbrc the pertia.l t:aItin& cleatnielioo, or Iou in value is lcla thail the amount of
<br />the sums secURd immedia.tcly before the partial liking, destruction, or losl In value, unless IJornnwr and
<br />Lender otherwia apee in writing, the Mllcellllleoul Proceeds shall be applied to tho sumi secured by this
<br />Security Instrument whether or not the IUDIS IIJ'e then dUe.
<br />If the Property Is aben40ned by Bonoww. or if, after notice by Lender to Borrower tMt the Opposing
<br />Ptrty (u deftned in the next senteIIce) offers to make an award to settlo a claim fOr damages, BOlTOWCl' fails to
<br />tCllpond to Lellder within 30 days after the d. tho notiR is liven, Leader Is autbotizod 10 colleet and apply
<br />the M'lSoollaneous Proceeds either to restoration or ~ of the Property or to tho IUI'llI secured by this
<br />Security Instrument, whether or BOt Chen due. "Opposing Party" IIlOIIlI tho third pany that owes Borrower
<br />Miscellaneous Procee4s or the pany apinst whom Borrower .... a right of action in regard to Miecellaneous
<br />ProCeeds.
<br />Borrower shall be in dcfauIt If uy aedon or prooeedinc, whether civil or criminal, i. bepn that, in
<br />LoDder's judgment.. could rauJt iD fbrt'eitaR of the Property or other material impairmem of LeDder's interest
<br />in the Property or rlpts under this. Sc:c:wity Instrument. Borrower can CllRI such a deftmlt and. If acoeJeration
<br />hu occurred. reinstatr: u provided in Section 19. by cauaina the action or pmceedins to be dismissed with .
<br />rulina that, In LeDder'1 Judgmaat, precludel forfeiture oftbo PJOperty or other mqterial impainnent olLender's
<br />Intaat In the Property or rights uncSer thil Security InstntmClllt. Tbo pmcoeds or any award or claim for
<br />damagea that are attributable to the Jmpairment of Lendor's iDtcrest in the Property arc hereby ..iped .d
<br />shall be paid to Lender.
<br />All Miscellaneous Procoeds thIlt.. DOt applied to l'ClStontlon or repair of the Property shaD be applied In
<br />the order provided for in Section 2.
<br />12. Borrower Not ."'Hid; Forbeannce By Leader Not . Waiver. BxtensiOD of the tlm. for
<br />payment or mociJfioation of amartization of the sum. ICCUftld by this Security ~ 8f'IIlUld by Lc:nder to
<br />Borrower or IIJY Successor in Interest ofBonower shall DOt operate to releue the liebUlty ofBonowcr or any
<br />SucceaIora in Jnterest of BOf11)wet. Lender shall not be required to commence proceedinp apiDSt 1U'l)'
<br />Sucr.:eaor in Interest ofBomnver or to tefuse to extend timo for payment or otberwiso l'llOdify amortization of
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<br />411& 4A(NE) (04G7) CHL (01lOI)
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<br />Fonn.l 1101
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