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<br />200802938
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<br />AJ a reswt of these agreen1eI1.ts, Lender, any purchaser of the Note, another insurer. any reinsurer,
<br />any other entity, Of any affiliate of any of the foregoing, may receive (directly or indirectly) amounts th~t
<br />deri\'c from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, m
<br />exchange for shJring or modifying the mortgage insurer's risk, 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 teI:lII.ed .captive reinsurance,. Fwth~:
<br />(ll) Any sucb agreemcn1l will not affect tbe amounts tmtt Borrower' has agreed to pay for
<br />Mortgase Insurance, or any other terms or tbe Loan. Such agrccmmD win not increase the amount
<br />Borrower win owe for Mortgage IusurcUlCe, and ther will not entitle Borrower to any reflllld.
<br />(b) Any such agreemeu1s wiD not affcd the npts JlorroWCI" has M it any . with respect. to the
<br />MorlgaJe Im\ll'lUlce amder the Homoowners Protection Act 01" 1998 or any other Ill"'. These rights
<br />may include the rilbt to l'~ei'Ve certain disclosures, to request aDd obtain C8accllatioD of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automadcally I and/or to I'D'Ve a
<br />refund of any Mortgage IDsurance premiums that were unearned at tbe time of such cancellation or
<br />termination.
<br />11. Assignrneut of Misl;cllaneous Proceeds; Forfeiture. All Miscellaneous ProceedS are hereby
<br />assigned to and shall be: paid to Lender.
<br />If the Property is damaged, sllC.h Miscellaneous Procetds 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 lessened.
<br />During such repair and restoratioD period, Lender sball have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an ~ortunity LO inspect such Property to cnsure the work has been completed to
<br />Lender's SaIisfactiOD, proVIded that such inspection shall be undenaken promptly. Lender JDay pay for the
<br />repairs and restoration in a single disbursement or in a series of pro cress paymen[$ as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires intetcst 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 repair is not economically feasible or Lender's security would
<br />be lessened, the Misl;C!lancous Proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or DOt then d.ue, witb the exCC$S. if any. paid to Borrower. SIlC.h Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2-
<br />In the event of a total taking, destJuction, or loss in value of the Property, the 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 panta! taking. destroction, or loss in value of the Property in which the fair market
<br />value of the Property inunediatcly before the partial taldng. dcstnlction, or loss in value is equal to or
<br />greater than the amount of the sums SCClll'ed by this Security Instrument immediately before the partial
<br />taking, dCSnucOon, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Inst.rument shan be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the followmi fraction: (a) the total amount of the sumS secured immediately before the
<br />partial taking, deStIUCtiOIl, or loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. AI1y balance sball be ,Paid to Borrower.
<br />In the event of a partial taking, destrUction. or loss in value of the Property in Vllhicb the fair mar}cet
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less thall. the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied. to the sums
<br />secured by this Security InstIUDlent 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 me
<br />Opposing party (as de!'med in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower falls 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 />suntS secured by this Security Instrument, wbether or Dot then due. wOpposing Pany" means the 1hird party
<br />\J1at owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
<br />re~ to Misccllaneous Proceeds.
<br />Borrower shall be in default if any action or proceediJlg, wbetber civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfeiture of the Property or olhcr material impairme!1t of u::o.dcr's
<br />interest in the Property or rights und.er this Secllrity Instrument. Borrower can cure such a default and. if
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<br />01102B0022
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<br />fJIt-8CNI) 104071.02.
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<br />~D90 II of 15
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<br />fllllltll~ 7711/l
<br />--f- ~ 3028 '101
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