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<br />200708699
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<br />As a result of these agreements, Lender, any purchaaet 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 />dMive from (or:might be cha:racterlzcd u) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for &baring or modifying the mortgage insurer's risk, 0'1" reducins 10SBes. If such agreement
<br />provides that an affiliate of Lender takes a share of the insuIer's risk in exchange for a share of the
<br />premiums paid to the insorer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mor'tgap ~ or any other terms of the Loan. Such agreements will not Increase the amount
<br />Borrower will owe for Mortgage ~ and they will not entitle Borrower to any refund.
<br />(b) Any sum agreements will not an'ed the rights Bon-owe.- has ~ If any - with respect to the
<br />Mortgage Insurante under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may Include the right to receive certain disdosures, to request and obtain canceUatlon of the
<br />Mortgage Insurance, to have the Mortpge Insurance tenninated automatically, andlor to receive a
<br />refund of any Mortgage Insurance premiwns that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hemby
<br />assigned to and shall be paid to Lender.
<br />If the Property 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 lesSCDCd.
<br />During such repair and restoration period. Lender sbaI1 have the right to hold such Miscellaneous Proceeds
<br />until Lender has ltad an opportunity to .iDspoct such Property to eusure 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 disbmsement 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 earnings on such
<br />Miscellaneous Proceeds. If the restoration or :mpair is not ecooomica1ly 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 doe, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />IlJIPlied 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 sec1lJ.'ed by this Security Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower. .
<br />In the event 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 the amount of the sums secured by this Security Instrument immediately before the partial
<br />takiDg, destruction, or loss in value, UDless 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 fonowing fraction: (a) the total amount of the sums secw:ed immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the :fair market value of the Property immediately
<br />before the partial taking, destruction, or loss in value. Auf balance sball be paid to Borrower.
<br />In the event of a partial taking, destruction, or 1088 m 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 less than the
<br />amount of the sums 8llCUred immediately before the partial taking. destruction, or loss in value, unless
<br />Bmrower 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 />IT the Property is abandoned by Bouower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in 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 Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured by this Security Instrumtnt, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom BollOwer has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if IDlY action or 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 />- m lbo ~ or riahts ...... tIris Seeurity 1Dolxumen1. ~r ""'" mob. a dcJim1t and, if
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<br />l~tJ.~
<br />Form 3028 1'01
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<br />.. -6INE) 100061
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