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<br />200706105
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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.(directly or indirectly} amounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgagdnsurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing 10sseS~ ILsuch agreement
<br />provides. that an. affiliate of Lender takes a share of the insurer' s risk in exchange fot a. share of the
<br />premiums paid to the insurer, the arrangementisoftentermed "captive reinsurance." Further:. .
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay fot
<br />MortgageInsurance, or any other terms of the Loan. Such agreements Will not increase the amount
<br />Borrower will owe forMortgage~uranC!Jandthey will not entitleBort~W'erto any,tefund.
<br />(b) Any suchagreementswdlnot afrect the nghts Borrower has -If any-with respect tothe
<br />Mortgagidnsurance under the f10meQwners Protection Act of 1998 or any other la", . These rights
<br />may include the right to receive certain disclosures, to reqUeSt and. obtaincancclllition of the
<br />Mortgage Insurance, to have the Mortgage Insura.nce terminated automatically, and/or to receive a
<br />refund of any Mortgage InSurance premiums that were unelirnedat the time of such canccllationor
<br />termination. .
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender. .
<br />JftheProperty is damaged, 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 stich repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an oppOrtunity to inspect stich Property to ensure the work haSbeeneompleted to
<br />Lender's satisfaction, provided that such inspection shall be liIidertakenpromptly.Leildei'maypay foethe
<br />repairsaiJ.d 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 Law requires interest to be paid on such
<br />Miscellaneous. Proceeds; Lender shall not be required to pay Borrower any interest or emnings .on such
<br />Miscellaneous Proceeds. If the restoration or repair is 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 swns secured by this Security Instnlment, whether or DOt then due, with
<br />theexcess,if any, paid to Borrower. .... . .. . .. .
<br />In the ev.ent of a 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 theamouut of the sums secured by this Security Irtstrumentimtrlediatelybefore the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree inwritilig, 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 imn1ediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />immediately before thepan,:ial taI?ng, destn1c~ioJi, orloss.in value. Any balance sh!l1l be paid toB~mower.
<br />In the event of a partIal taking, destructlOn, or lossm value of the Property mwhichthefau market
<br />value of the Property immediately before the. partial taking, destruction, or loss. in value is less. than the
<br />amount of the suIilssecured immediately before the partial taking,. destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, . the Miscellaneous Proceeds . shall be applied to. the sums
<br />secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Bottower that the
<br />Opposing Party (as defined in the next sentence) offers to.rnakean award to settle.a claim for damages,
<br />Borrower fails to respond to Lender within 30 days aftcrthe date the notice is given, LeJider is authorized
<br />to collect. and apply the Miscellaneous Proceeds either to restoration or . n:pair of the Property or to the
<br />sums secured by this Security Instrument; Whethetor not then due. "Opposing Party". means the 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 actionot proceeding, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in 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 />Go.6(NE) CQ4071.02
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<br />Inltlols: k
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<br />0110269441
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<br />Page 901 15
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<br />Form3028 1/01
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