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<br />200803233
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<br />As a result of these agreements, Lender, any purchaser 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 /><.ierive from (or might be characterlzedas) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing 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 tenned .captive reinsurance.. Further:
<br /><a)' Any such agreement'! will not' affect tbe amounts, that Borrower has agreed to pay for
<br />Mortgage Insurance, or an)' othertertns of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for MOrtg. age Insuran~ and they will not entitle Borrower to an~ refund. ,
<br />,(b) Any snch . agreements will not an'ectthe rights Borrower has . ifuDY ~ With .respect to the
<br />Mortgage Insumnce under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the rigbt to receive certain disclosures, to request and obtain cancellation' of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, andlor to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at thetinieofsnch canCellatioil or
<br />terininatic)U. "..",'
<br />'11. . Assignment of MisCellaneoUS, ProceCds; Forfeiture! All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender., ' ' , . ....
<br />"If the ProPer1Y is damaged, such Miscellaneous Proceeds. shall be applied to restoration or repair of
<br />the Propeny, if the restoration orfepair is economically feasible and Lender's security is not lesliened.
<br />During such repair' an<.i restoration period, Lender shall. have the right to hold sucll . Miscellaneous Proceeds
<br />until Lender bas had an opportunity to inspect suCh Property to ensure the work hasheen cOIIlpleted to
<br />Lender's s.atisfactio:Q,provide<:lthin such ln~pection shall be undert~npromptly.Lender may pay for the
<br />repairs and reStoration in a single disbursement or in a series of progress payments as the wor~ is
<br />completed. Unless an agreeinent is made in Writing orApplicable Law requires interest to be paid on such
<br />MiScellaneous Proceeds, LendershaU not be required to pay Borrower any interest ot earnings on such
<br />Miscellaneous Proce~. If therestoriuion or repair is.not economically feasible or Lender's security would
<br />be lessened, the Miscellimeous Proceeds shall be applied to the sum.s secured by this Security Instrument,
<br />whether or not then due, with the excess, if any. paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied 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 thesulll& secured by this ~ecurity Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower, ," '
<br />In the event ofa partial taking. destruction, or loss iil 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 SuinS secured by this Secilrity Instrument immediately befOre the . partial
<br />taking, destruction,. or loss in value, unless Borrower and Lender otherwise agree in writing, the sWIis
<br />secured. by this Security Instromentshall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
<br />imrttediately before the par~ial t~g, destruc!ion, or loss .in value. Any balance sh~l, be ,Paid to B~lffower,
<br />In the event of a partIal taking, destnlcnon, or loss III value of the Property m WhICh the faIr market
<br />value of the Property immediately before the partial taking, destnlction, or loss in value is less than the
<br />amoqnt of the sums secured immediately before the partial taking, destIllction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous .Proceeds shall be applied to the sUnlS
<br />secured by this Security Instrument whether or notthesumli are then dUe.
<br />If the Property is abandoned. by Borrower, or if, after notice by Lender to Bottower 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 />sumssecure<:l by this Security InstrUment, whether or not then due. "Opposing Party" means the third party
<br />that owes BorroWer Miscellaneous Proceeds or the party against whom Borrower haS a right of action in
<br />regard to MiscellaneoU!l Proceeds... . .' , , '...
<br />Borrower sll1ul be in default!f any 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 />interest in the Property or rights under this Security Instrument, Borrower can cure such a default and, if
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<br />pog.90116
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<br />Inltl.l.: !is' Jf(
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<br />-b': ~"
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<br />0110280078
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<br />~.6INE) (0407).02
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<br />Form 3028 1/01
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