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<br />200705511
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<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer,any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directlyorindirectly) amounts that
<br />derive from (or might becharatterized as) a portion of Borrower'spaymehtsforMortgagelnsurance, in
<br />exchange for sharing or modifying the IIiortgage insurer's risk, or reducing losses.. If such agreement
<br />provides that an affiliate of Lender takes a sha:re of the insurer's risk in exchange fora share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance. "FUrther:
<br />(a) Ahy such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage InsiItElnCe, aod ther willnoteIitltle Borrower to anyreftmd. '. '.'
<br />(b) Any such agreements will not affect the nghts Borrower has "jfany .. with respect to the
<br />Mortgage Insurance under the Homeo#ners Protection Act of 1995' or any other law. These rights
<br />may. include the right to receive certain disclosures, '.' to requestandobtaiucaocellationofthe
<br />Mortgage Insurance,to have the Mortgage Insurance terminated automatically , and/or to receive a
<br />refund of any Mortgage Insurance premiums that Were unearned atthetinie OfSllchcanceIlatlon or
<br />termination.
<br />11. Assignment of MisceIlaneousProceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and Shall be paid to Lender.
<br />IftheProperty is darnaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender' s security is not lessened.
<br />During such' repair and restoration period, Lender shall have the right. to hold such Miscellaneous Proceeds
<br />until Lender' has had an opportunity to. inspect such. Property to 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 agreement is made in writing or Applicable Lawrequiresinterest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repairis not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this. SeCUrity Instrument,
<br />whether or not then due, with the excess, if any,' paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of. a . total taking, destruction, or 'loss in value of the Property,. the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security lnstrument,whether or net then due, with
<br />the eXcess, if any, paid toBorrower.
<br />In the event ofa partial taking, destruction, or loss in value of the .Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the .amount of the . sums secured by this Security InstruIIient immediately before the. partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction; or loss in value divided by (b) the fair. market. vallie Of the Property
<br />immediately before the partial taking, destruction, or loss in value.. Any balance shall be paid to Borrower.
<br />In the event ofapartial taking, destruction, or loss in value of the Property in WhICh the fair market
<br />value of the Property immediately before the partialtaking, destruction; or Ioss1n value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower aild Lender otherwise agree in writing,. the Miscellaneous Proceeds shall be applied to the. sums
<br />secured by this Security Instrument whethercir notthesums are then due.
<br />Ifthe.'Property is abandoned by Borrower,. or if, after notice by Lender to Borrower. that the
<br />OpposingParty{as defmed1n the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails' to respond to Lender within 30 days. after the date the notice is given, Lender is authorized
<br />to collect and apply the MiscellaneousPtoceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" rileansthe third party
<br />that owes Borrower' Miscellaneous Proceeds or the party against whom Borrower has a right Of action in
<br />regard to Miscellaneous Proceeds . .... . . .
<br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could tesultin forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
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<br />Initials: Sn
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<br />07-046945
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<br />.-6CNE) (0407).02
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<br />Form 3028 1/01
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<br />P.ge9of.15
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