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<br />20071014<1
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<br />As a result of these agr~ents, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any a.ffiliate of any of the fore:oing, may receive (directly or inillrectly) amoWlts that
<br />derive from <or might be characterized as) a portion of Borrower's payments fOr Mortga.ge Insurance. in
<br />exchange for sharing or mocIjfying the mortgage insurer's risk, or reducing losses" If such agreement
<br />provid.es mat an affiliate of Lender takes a share of the Lu.sur~'s risk in exchange for a share of the
<br />premiums paid to the insurer, the arraI),gonenr is often termed "captive reinsurance." Funb.er:
<br />(a) Any row agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage lnsurance, or any other terms of the Loan. Stich :agrMments will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any sucn agreements will not affect the riehts Borrower has - jf any - with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act or 1998 or any otber law" These rights
<br />may include the right to receive certaw disdosm-es, to request and obtain tanc;dla!jQQ Q.f the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automaticallYt and/or to receive a
<br />refu'J;td of' any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellilmt))u$ Proceeds; ;Fo:rfeiture. All Miscellaneous Proceeds are hereby
<br />asSigned. to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be appHeo. to restoration or repair of
<br />the Property, if The restoration or r6J?air is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceed.s
<br />until Lender bas bad om. opportunity to inspect such Property to ensure 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 rest.ora"tion in a single d.isbursement 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 />Miseellaneous Proceeds, Lender shall not be required to pay Boaower any interest or earnings on such
<br />Miscellaneous Proceeds. If the resto:nuion 0):" repair is !lOt economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to tbe sums secured by this Security Instrument,
<br />whether or not then due, with the e;tceS$, if an.y, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied i:o. tbe order provided for in Section 2.
<br />J.u the event of a total taking, destruction, or loss in value of tbe Property, the Misoellaneous
<br />Proceeds shall be applied to [he sums secured by this Security InsU"UlIlent, whether Or uOt then due, Wilh
<br />the excess, if MY'. paid to Borrower.
<br />In the event of a partial taking, destruction, Or 10$$ in value of the Property in which the fair market
<br />value of the Property j;r;mnediately before me parcial taking, destruction, or lOil>$ in value is equal to or
<br />greater than the amount of the SJ.U:U$ secured by this Security Instrument immediately before the panial
<br />taking, destruction, or loss in value, unless Borrower aml Lender otherWise agree in writing, the sums
<br />secured by this Security Instrument sball be reduced by the amount of the Miscellaneous Proceeds
<br />multipHed by the following fracTion: (a) the tota! amount of the sums secured immediately before the
<br />partial taking, destruction, or loss i:o. value divided hy (b) the fair market value of the Property iliunediately
<br />before the pattial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the evem of a partial taking, destmction, or loss ir.l value of the Property in which the faiT market
<br />vaIlJe of the Property immediately before the partial taking, destroctjon, or loss in value is less than the
<br />amount of the sums secured intrnediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and. lender otherwise agree in writing, tOe Miscellaneous Proceeds shall be applied to tOe sums
<br />secured by this Security lnstroxnent whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Patty (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lend.er wiw.jn 30 days after the date the notice is give1J, Lende;J;" is authorized
<br />to collect and apply the Miscellaneous Proceeds eitber to restoration or repair of the Propeny or to the
<br />sums secured by iliis Security lnstrumeut, wb-ether or not then due. "Opposing Party" means the third pany
<br />that owes Borrower Miscellaneous Proceeds or the partY' against whom Borrower has a right of aCtion jn
<br />regard to Miscellaneous Proceeds.
<br />BoxTQwer shall be in default if any action or pro1Zeding, whemer civil or criminal. is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or other :mate,rial impainnent of Lender's
<br />interest jJ) tbe hopeny or rights under this Security Instrument. Borrower can cure such a default and, if
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<br />.. .GINE) 100051
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<br />Form 3028 1/01
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