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<br />200707405
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<br />Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, BOIT()\ver
<br />shall pay the premiums required to obtain coverage substantially equivalent to the MOltgage Insurance previously in ctTe:ct, at
<br />a e:ost substantially e:quivalent to the cost to Borrower of the Mortgage Insurance previously in eflect, fronl an alternale
<br />nlOrtg;lge: insurn selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower
<br />shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance eovenlgl.;
<br />ee<lse:d to bc in effect. Lender will accept, use and retain these payments as a non-reflllldable loss rescrve in lieu of Mortg;lge:
<br />Insuranl.;e. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultinmtely paid in flJlL and
<br />Ll.;mkr slwll not be ITquired to pay Borrower anyintelTst or eamings on such loss reserve. Lemkr can no longer rl.;quire loss
<br />reserve payments if Mortgage Insurance coverage (in the amount and t'(X the period that Lendn requirl.;s) provided by an
<br />insurer selcckd by Lender again becomes availabk, is obtained, and Lender requires separately designated payments toward
<br />the prl.;ll1iulTls t'llr Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and
<br />Borrown was required to make separately designated payments toward the premiums for Mortgage Insurance, BOIH)\VCf'
<br />sh;dl pay tile plTllliulllS required to maintain Mortgage Insurance in dfect, or to provide a 1I0n-rettJlldable loss reserve:, until
<br />/"elllkr's rel/lIirl.;nKllt rill' Mortgagl.; Insurance ends in aeeordanel.; with any written agreeillent betwl.;l.;n Borrower ;lIId Lender
<br />providing j(x such tnmination or until termination is !wluired by Applil.;able Law. Nothing 1I1 this Sl.;ction 10 affects
<br />Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases tbe Note) for I.;eltain losses it may incur if
<br />Borrower docs not repay tbe Loan as agreed. BOlTower is not a party to the Mortgage Insuranl.;e.
<br />\/Jortgage inslirers evaluate their total risk on all such insurance in forl.;e fron) time to time, and may enter into
<br />:IgreenlL'nts with othn parties that share or modify their risk, or r~duce losses. These agreelnents are on terms and conditions
<br />Illilt ale siltisElctory to the rnortgage insurer and the other party (or Piuties) to these agremlents. These agreements may
<br />require tbe Illortgagl.; insurer to make payments using any source of funds that the mortgage insurer Illay have a vai lable
<br />(which lllay include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity,
<br />or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive tt'OIlI (01 might be
<br />characterized as) a portion of BCJlTower's payments for MOItgage Insurancl.;, in exchange for sharing or Inodifying tlll.;
<br />Illortgage insurer's risk, or reducing losses. If such agreement provides that an atfiliate of Ll.;nder takes a share of the
<br />111,;ure:r's risk in exchange fiJr a sharI.; of the premiums paid to the insurer, the arnlllgcml.;nt is often tl.;rmed "captivc
<br />ITlllsurilllce." further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />!\10rtgage Insurance, and they will not entitle Borrower to any refund.
<br />(h) Any such agreements will not affect the rights Borrower has ~ if any ~ with respect to the ,Vlortgage
<br />Insurallee nnder the Homeowners Protection Act of 1998 or any other law. These rights may inelude the right to
<br />l'('ct'in: certaill diselosures, to request and obtain cancellation of the Mortgage Insurance, to have the .Vlortgage
<br />Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums thai were
<br />1I1learned at lhe time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Procl.;eds arc hereby assigned to and
<br />shall be paid to Lender.
<br />I f the Propl.;liy is damaged, such Miseellanwus Prol.;eeds shall be applied to restoration or repair of the Propl.;rty, If
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and les[oratiOII
<br />period, Lender shall have the right to hold such Miscellaneous Proceeds until Ll.;nder has had an opportunity to inspl.;ct slieh
<br />i'l'openy to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be: 1I1Kkrtaken
<br />promptly. Le:nder may pay for tbe repairs and restoration in a single disbursement or in a series of progrl.;SS payments a~ tlie
<br />work is 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 requiJed to pay Borrower any interest or eiu'nings Oil sllch:vJisCl.;lIaneolls
<br />Proceeds. [rthe restoration or repair is not economically feasible or Lender's security would bl.; lessened, the ;\1iscl.;lIaneolls
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<br />wan No: 127317292
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<br />:'oid".,,,I,,, Ih'"d ofTru't-Singk Family-Fa..";,, 1\1",,/FI'l'ddi,'l\1ac lJNIFORI\1I'\STRUMENT
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<br />Initials: __ _ _ ___
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<br />J\IERS I\1'Hlifi"lI FOI'IIl ~IIZX III/III
<br />I~JOI."F. OWIIII
<br />Ll2.nOO, ,]"11':: ('olllpli,IJlCL' S(IIII"L:L' Jlli.'
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