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<br />20070S471
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<br />As a re6ult of these llg:('eemcnts, Lender, any purchuer of the Note, another insurer, any reinsurer,
<br />any other entity, or any aff'l1iate of any of the fore,goina. may receive (directly or indirectly) amounts that
<br />derive from (or might be characteri.7.ed as) a portion of Borrower's payment$ for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's ri$k, Or reducing losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amoW1ts that Borrower has agreed to pay tor
<br />Mortgage Insurance, or any other tel'D or the LolU1. Such agreements will not increase the amount
<br />Borrower w1ll owe for Mortgage Insurance, and they will not entitle Borrower to any nfund.
<br />(b) Any suth agreements will not affect the riJllts Borrower bas . if any . with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law., Tbellle debts
<br />may include the right to rec:elve certain disdoSUl'ea, to request and obtain c:anc:ellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatlcslly, andJor to nc:eive a
<br />refund of any Mortgage Insurance premiums that were UDeamed at the time of such cancellation or
<br />termination.
<br />11. Assignment of Misc:ellaneoUIi Proceedsj Forfeiture. All Mi~cellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is oamaged, such Miscellaneous Proceeda shall be applied to restoration or repair of
<br />I:he 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 guch Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property [0 ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection &hall be unde~ 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. Uniess an agreement is made In writing or Applicable Law requires interest to be paid on lIuCh
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible Ot Lender',s security would
<br />be lessened, the Miscellaneous }:\roceeds shall be applied to the sums secured by this Security Instrument,
<br />whCltheJ: or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for 111 Section 2.
<br />In the event of a total taking, desuuction, 'or loss in value of the Property, 1I1c Miscellaneous
<br />Proceeds shall be applied to the sums secured 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 fait market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal [() or
<br />a;rellter than the amount of the sums secured by this SeCl1rlty lnstrument immediately b6forc the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the SUIIlIi
<br />secured by this Security lnstnunent shall be reduced by the amount of the Miscellaneous ProceedB
<br />multiplied by the following fraction: (a) the total amount of the sums secured. immediately before the
<br />partial taking, cmstmction, or 10s'! in value divided by (b) the fair market value of the Property immec1iately
<br />before the partial taldng, destruction, or loss in value. An".( balance shall be paid to Borrower.
<br />In the event of a partial taking, destmction, or loss m value of the Property in which the fair market
<br />value of the Property immediately before the partial takinj, destruction, or 1055 in value its leas than the
<br />amount of the .,oms secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, tbe Miscellaneous Proceeds shall be applied to the SUIll8
<br />secured by this Security Instrument whether or not the sums arc then due.
<br />H the Property is abandoned by Bo,rrower, 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 />[0 collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums se<:ured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />iliat owes Borrower Miscellaneous Proceeds or the party agaimit whom Borrower has a right of action in
<br />regard to Miscellaneous PJ:oceeds.
<br />Borrower shall be in default if any action or proc;eedins. whether dvil or criminal, is begun that, in
<br />Lender's judgment, could re&u1t in forfeiwre of the Proper[y or other material impainne.nt of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure suc:.h a default and, if
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<br />lnillil;~ ,0
<br />. \~m 3028 t/01
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<br />(Di~;6(NE' (0006'
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<br />P3g~ B Of 15
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