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<br />200707602
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<br />If this Security Illstnlmellt is on a leasehold, Borrower shall eomply with all the provisIons of the kase. If Borrower
<br />acquires fee title to tll<: Properly, the leasehold and the fee title shall not lIlerge nnless Lender agrees to the nlerger in writ ing.
<br />10, Mortgage Insuralll~e. If Lender required Mortgage Insurance as a condition of making the Loau, Borrowcr shall pay
<br />the premiums required to lIlaintHiu the Mortgage Insurance in effect. If, for any reasou, the Mortgage Insurance cover,1ge n~quir.:d
<br />liy Lellder c.:as.:s to Ix available from the mortgage insurer that previously provided such insuranc.: and Borrollicr was rcquired to
<br />nmkc separately desiguHI.:d paymeuts toward the premiulIls I<:J!' Mortgage [nSllrHIKe, Borrow.:r shall pay the preulilllllS rcquire~d lO
<br />ohtaill cowrai~c ,',ullstaJltially .:quivalent to the Mortgage Insurance previonsly in dkcL at a cost suhstHutiHlly l~quivakllt to tile
<br />cost to Borrower 01' th.: Mortgage Insurance previously in effect, frolll all altcmate morlgage illsllrcr sdected by Lender II'
<br />snbstantially equivalent Mortgage Insnrancc covcrage is not availahle, Borrower shall continue to pay to I ,ender the amonnt 01' the
<br />separately designated payments that were due when the insurance coverage ceascd to be in effect. Lender wi II accept, use and
<br />retain these payments as ,1 nOII-rd'uudable loss reserve in lien of Morlgage Insurance. Such loss reserve shall be non-reflllH!ahle,
<br />notwithstandiug the fact that the Loan is ultimately paid in fnll, and Lender shall not be required to pay Borrower any interest or
<br />.:arnings on such loss reserve. Lemler can no longer require loss reserve payments if MOItgage Insurance coverage (in tile ,llllOllll1
<br />and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is ol,tained, and
<br />L\~nder requires ';eparalely designated payments toward the premiums for MOltgage IUSllfance_ If Lendcr required Mortgage
<br />Iusurancc as a condition of making the Loan and Borrower was required to nlilke separately designated paymeuts toward Ihe
<br />prelnillnls fi)t' Mortgage Insurance, Borrower shall pay the premiums required to ulainlain Mortgage lnsurance iu crfeet, or 10
<br />provide a non-refundable loss reserve, nntil Lender's requirement for Mortgage Insurance ends in accordance with ,lilY written
<br />agreement between Borrower and Lender providing for such termination or lllltil tellllinalion is required by Applicable Law.
<br />Nothill~ iUlhis Section 10 affects Borrower's obligation to pay interest at the rate provided in the NOle_
<br />Mort~a~e [IISllr,11ICe n:illlllurses Lender (or any entity that pnrchases the Note) for certain losses dluay i1lcur if Borrowe'l
<br />does uot repay Ihe I.oan as agreed_ Borrower is not a party to the Mortgn~e Insurance.
<br />Morl~~a~e ill\llrel'S evalu,lte their total risk on all such insurance in force from time to time, and may enter inlo agre'clllents
<br />wilh olher p<Hlie', th,I1 share or lllodiry their risk, or reduce losses_ These agreements arc 011 tenns 'llld conditions that arc
<br />satisfactory to the nlortgage insurer and the other party (or parties) to these agreements_ These agn:ements llIay reqnire tile
<br />lnortga~e insnrer to make pnyments using any souree of fnnds thnt Ihe mortgage insurer may have available (which Illay
<br />illclnde funds obtained from Mortgage Insuranee preminllls).
<br />As a resuli or these agreemeuts, Lender, any purehaser of the Note, another insurer, any reinsurer, auy other eIIlil.y, or allY
<br />affiliate o!' any of 1118 foregoing, may receive (directly or indire<:tly) amounts that derive fr011l (or might be characterized as) a
<br />portion of Borrower's payments for Mortgage Insllranee, in exchange for sharing or modifying the lIlortgage insurer's risk, or
<br />reducing losses. II such ag:reenlent provides lhat an affiliate of Lender takes a slwre of the insurer's risk in exchange for a share
<br />ollhe prcnliiuI1S paid to the insurer, the arrangement is often termed "captive reinsnrance" Further:
<br />(a) Any such agreements will not affect the amounts that Borrower h~ls agreed to pay for Mortgage Insurance, 01"
<br />any other terms of the Loan, Such agreements will not increase the amount Borrower will OWl~ for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(h) Any suth agreements will not affect the rights Borrower lias-if any-with n'sped to the Mortgage
<br />InSllranee under the Homeowners Protection Act of 1998 or any other law. These rights nwy indudl' the right to receive
<br />cert~Iin disdosures, to request and obtain cancellation of the Mortgage Insuram'e, to have the Mortgage lusurance
<br />leClnjnated aultlllHltkally, and/or to rel~eive a refund of any Mortgage Insurance premiulUs that were 1ll1tarlled at the
<br />time of slldl c';Jlh'ellation or termination.
<br />11. Assignment of Misl~ellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned t.o and shall
<br />be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair or the Property, d- the
<br />restoration ()I' repair is ecollonlically feasible and Lender's security is nollcssened. During such repair and restoratioll period,
<br />I.endel- shall h,I\'e the righllo hold snch Miscellaneous Proceeds until Lemler has had an oPPor1unilY to inspect Sllell Prr'pL~rty
<br />to ellSllre the work has beell cOlllpleled to I,ender's satisraction, provided that such inspection shall lie nndertaken prrllllptly_
<br />l"'ll(kr Illav JIm I'or the repairs and restoration in a single disbursement or in a series of progress payments as the work IS
<br />,:ulllpleted. Unle~;s an agreement is made in writing or Applicable Law requires interest to be paid on such MiscelJ;lneollS
<br />Procecds, Lemler shall not bc required to pay Borrower any interest or earnings on such Miscellaneous Proceeds_ If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miseellmwous Proceeds shall lie
<br />applied to the Slllns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />Such Miscellaneous Proceeds slwll be applied in the order provided for in Section 2.
<br />In the evelIl of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be appliL~d to
<br />the' snllls secured hy this Security Instrument, whether or not. then due. with the excess, if any, paid to Borrower.
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<br />r\J.:BI{'\ShA-SIII.~I,' 1';\Il1ily----Fallllic Mne/Frc'll<lle Mac UNIFORM INSTRUMENT
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<br />ITEM 1?i\9RI 7 (0308).-MERS
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<br />(Page 7 of /2 I'ages)
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<br />Forlll J02S I/O I
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<br />Of 11- .AT I ANI) .
<br />To Ordor Call; l-RQO-530-0393 D lilX 610-101-1131
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