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<br />200803980
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<br />ill'lllallce Hml Bonower WHS requircd to Hl(llce "~pal1ltely d~',ignnted l)(lYJl\Cnts toward th<; prcmiums 101' Mortgage InSUl"\!lce,
<br />Bllrll>wcr shall pay thl' premiullls required to llbtain coverage substanlially ~quiv111ent to tl,(; MortgHge jnsumll~e pl'(;,v;ollsly
<br />in eftc~L al a ellSt substallti,dly equivalclltto thc .:ost to Bllnower oftll.: M(lrtgugc Insurance preVi(lllsly in dlect, fi-o!l1 all
<br />allernlHe mortgage i""urer selected by Lender. IfsllbstalltiHlly cquivnlent Mortgagc I11SlI11\LK" covcrage is 1l(1t aVHilablc,
<br />BorroWer shall contlllll\' to pay to L~lIdcr the amollnt oflhc sepanHdy designaltd payments tllat Wert' duc when the insurnm;e,.
<br />CelVCnlgc ceasellt" he m dkct. lender 11'111 ae~ept, use and I'elllln the,~ payment' as '1 "UIHdulIlIable Inss reserw IlIlteu 01
<br />ivhlJ'tgllgc lnsllrnnce. Such 10% re""rve shall be l1on-relundable, Il"twitbstlll\dil\g the bl'l that the LOll" is IIltimatdy paid iJl
<br />llliL ,111<1 Lendcr shall""t be !'I"qUilcd to pav n01'l'ower allY interest or earnillgs OIl such loss rcserve. I ,endel' ta" tlolollger
<br />require If"S les.rve p<lymellt, if MOl'tg<lge Ulsuram:e eoverage (itl Ilw mtl(llilll and fllr the period thm Lender requires)
<br />provided by <In insllr~l selected by L.tll.ler again beeolll~' <I "aliable, is obt<lined, and lCildur r~qllires separmdy dcsi!;'H1ttd
<br />\:",.yrnetlIS towa,.'d till' prellllulll~ lor tv.1oltgag.e IIlSUr,UlCe, lfLcnder. req 11 Ired Mul'lgage Insuranee <IS a CmlCbliotl 01 rnakmg the
<br />,oanllud Borrower IVas reql!lJ'~d tOlllake scpal'lllely deSlgtlatt'd P:.IYlllellts lowllrd the prelllllllll8 lor Mortgage ItlSIli'lUKT,
<br />B01'l'''Wel' shall pay the [H'c,millllls rcqllired to t1lamtain Mortgage tnSLII'atl(". in dl"e'I, or 10 pr""ide a Iloil-rcfllndabk loss
<br />reserve, until Lendel"s requirelllcnt I(l!' Mortgag~ lnsura.nce ellds ill a<:cordallce with any IVl'illeil ngreemenl b<,t\w,,"
<br />B01'l"Own alld Lender pmvidi.ng lor ~uch teuuiuat.illll Dr lIntiltl;'l'll\inution is r"'Iuired by Applicable Law" NOllling ill this
<br />Sed ion .l 0 uj)h:ts Borrower's obligalion to pay illtcrest at the rate pwvidcd in the Nnle.
<br />Morlgage InslIrance reimbllrses Lender (or any <'ntity thut purchascs the Note) Ii)r ccrlain losses it lllay incur il"
<br />BorrolVer dne~ not repay the LOlll'IIIS agreed, S<"'I'ow"r is not a parly to the Mortgage In,unlnce,
<br />Morlg(lgc Insurers ev~llIntc their t(ltall'isk on (\11 slIch insllrance in 1l1l'c" liom tilll.e to timc, alld lIlay "nk'r inlo
<br />~1"'reemCIILs with otlwr p"'ties HUlt ~harc 01' l\1odi.ly thejr risk, or redllce lossc's, Thesc agreClllelllS arc on t~rn~s (lIld collditie)lls
<br />tl~ul ar(' sati,l.ildory 10, the mortgage iIlStll'e" lllld th,; othcr pany (or' l',mb,) Loth"se agrcemcnt': lhcse agreelllents Illay
<br />re'llILre Ihe mortgage Insurer to make pay'nent' lISll1g any ,oUrce ol1imds Ihallhe m,mgHge .11lSUl'el' may have avad"blc
<br />(which may ill<:tlldc 1(lIlds obtained IhJtn Mortgage Insurancc. prcmiums).
<br />,_. As ~l rc.sul~ ort.l,le~~ a~n::ell\ellb.. Lc."dcr, .UIlY purcl~a$t:;r orthe note, another ins~.lrc:r1 ~U1y rcins~l'eJ'~ any other tjn.tity~
<br />or alllllllte e)1 any olllle joreROlllg, may receive (((,I'eelly Or Ill<liredly) ,,,nounts IhM denve Iwm (llr Illlght bc charnetcn~ed
<br />a~) 11 portion ofBol'l'owC"r's paym~IIIS lhr Mortgage .fJ.lsUrallCe~ il1 exchnnge [hI' tii,h~lfillg \)1" lllndJ(villg the mortgage illSl.ll'el"~
<br />risk, Vi' n~ducillg losses. I fSl.Ich ugn:emcnt provided tlllll an uHHiate ofl.,Cl1c..kr ("nk~s a share of the jI'lSlln.~I'~s I'i~k ill cKc.:hange
<br />1'\1' a .,har~ ol"the pl'<,,,,iums paid to the insca'cr, thc :llTallgelllCllt is often lermcd "eaptivc reillslll'anee," FlIrther:
<br />(ll) Any SlIdt IIg"~l'm~ut~ will not lIn.'cl lb... tUIIOllut~ Ihat BlII'rowH hllS aAI'~ed 10 l"ll' 1'01' MOl't!i.~l,te
<br />IllStlra",,~, llr allY olhel' t~!'IllS "fth_ Loan, Sudlllv:reelll~Uls willu()[ illH~use the 1l1ll""11t Born,w,", will OWl' f(lr
<br />l\lortgl'lgc lusu""ue_, ulld lh('y willllOl ~Illitle ButTOW('1' to allY refuud,
<br />(h) Any such "gr~elllculs ",ilIuut IIffecl th" rights llOlTower Illls ~ if IUty ,- wilh ""sped 10 IheMo"I[(age
<br />lusn"tlllc~ unde!' Ih(' HUIII"owu"!'s j'l"otcctiulI Acl: of .19')801' any olhe,' h,,,,, Thes~ righls may ;lldud~ thl' right hI
<br />n'.wive c"l'laiu disclos\lre~, 10 I'e(ln~st lInd ublallJ ellllccllallon uf thel\tol'lgllg('lnsul'llllce, to have Ihe Mortgage
<br />IIlSIlI'lIllU l('l'millal.('d UIlIOllllltically, ..nd/or to recclw a rcfund of , lilY Morlgnge tll~unlllce pn'1ll1utlls that wen,
<br />.IIIl'IU"lled lit the time of SUcll ellllc('lIation "" termination,
<br />U, Assiglllll~1I1 of MiseelllmeulIS Prul'('eds; .Forfdture, All Miscellaneous Procecds arc he,,~byasslglltd to and
<br />shall b" p,tid 10 Lender,
<br />Jftl1e Properly is dUlllUged, sueh Mis<:eHaJ1C(lUS Proceeds shOll1 be applied 10 restoration Or repair "fthe Propcrly, if
<br />th~' rl'SlOl'<11ioll or repair is eCOllOllli(;ally tellsible and Lender's seellrity is notlcsse.ned. DUl'ing such repair and resltlration
<br />period, Lend~r shall havc the right to lmld slIchMjscelluneous Pl'ocecds ulltil Lendel' has hnd Hn opPol'lunity to inspect snch
<br />Property to C1\s~n'e IIle work has becn compleled to Lender';; sali"fuction, provided that ,uch inspcetion shall be undertakcn
<br />prolllptly, Lemler nlllU,ay 1,)1' the repairs and reslOi'llllOn in a single disburscment or in a series ol'progress pnl'IllCllls as the
<br />work is eOluplet.cd, ul"ss an ngl'ecment i~ made in writing 01' Applieablc Law r(,quires intel'est to bc paid on sUl'h
<br />Miscellaneous Procceds, Lender shall not be required 10 pay Borrowcr any illlerl'st Or earnings On such Miscellaneous
<br />Proceeds, Iflhc restoration Or repair is not t'con(ltukally feasible "I' Lendcl"s sceurity would be Icssened, the Miscellaneo\ls
<br />Prn<:eeds shall be applicd to the SUlll, scc~l'ed by this Se<:ul'ity Instrumenl, whethcr or llCll then due, with the ex<:css, ifullY,
<br />paid to BOl'J'ower, Sueh MiseelllllteOus PI'oceeds ~hnll be applied illlhe ol'dcr provkkd lor i1\ Sectioll2,
<br />III lhe event e,f n l"tallalcillg, dcstructioJl, Or loss i.n value of the, Property, the MisedlanCOll> Proceeds shull be
<br />applied to the SIIIIlS see \I red by thi" S~~urily Inslllllllcnl, whctller or not then du<" wiUlthc ex<:~.ss, irallY, paid to Borrowcr,
<br />In lht' evenl or a purt;al taking., dc>\rUl:tinn, or loss ill vulue orthe Property ill wltich lilt. [hir Ullll'ket value ofllle
<br />Property illlll\edilltdy belol'e thc purtial tllking, destructioll, 01' loss in value is equal to 01' grcater than the lHlIOllltt of the Slims
<br />securcd by tllis Security lusll'II11'lent illH\le<liatcly bel,'re the PlH'lillltuking. deslructio", Or foss ill value, unless Bonower amI
<br />Lendel' otht'lwise agrce in writing, the sums secured by this Security InstrumCllt shall be rcduccd by the amO'''lt of the
<br />Mi,edbllCouS Proceeds Illultiplicd by tlte Ihllowing fh\clion: (a) the tOIUllllllOlltll ofthe S\lIlIS secured inlllledi"tdy betore tlte
<br />p'lrlitd t.akillg, deSlrucli(lIl, or loss in value divided bv (b) the lhir tl1l\rkct value ortlte PI'DI,lerl)' illHnedimely bel'llrc the p(lrtiat
<br />tnking, de'trudion, or loss in valu.::, Any balancc shall bt: paid to Borrower.
<br />in the evcnl ol'<'l'anit\ltakiag. desll'udion, Ill' los~ in value of the Properly in which thc lilir market q\lue of thc
<br />Properly imnlediatdy bel'lre the pal'tiultukillg, destruction, or loss in ValllC is lcss Ihallth(, amotlllt of the sums ,eeured
<br />imllledilllely before I.he pal'liHllakmg, <lcslroctiOIl, oj' loss ill value, unless Borrower 'Hid Lender otllerwisc ugl'ec ill writing,
<br />the M iscdlane"us Prueceds sh,1IIl", applied tQ lhc sums ,el;lIl'cd by this Security InstnllllCllt whclher 01' not the SUlll' UI''' thun
<br />due.
<br />If thc Pmpcrty is abandoned by Bormw~r, ill' il'; after notice by Lender to Born'wtl' that the Opposing Party (as
<br />ddined in tl,C' oe,xt sentellce) oUel's to .Illake an award to settJe a claim lill'damoges, Borrower {illls to respond (" l..,clldel'
<br />""tllln 30 days alter tIte d<H~ thc nol1ce IS glve'II, Lcoder IS autllOl'lzed to <:"llcel and apply the M,scellancous PI"oce~ds eltllel'
<br />10 r"storalion or repair of the Propeny 01' to the sums securcd by thi, Sceurity Instrllmcnt, whelher or not then duc,
<br />"Opposing Party" IneUnS the third pany that <,wes 80l1"ower Miseell:\neous l'rnceeds or the party ag(linst whnnll3orrower
<br />[ws a right "f'ldioll in rcgurd tll MiscellaJleo\lS l'ro(:ccds,
<br />ll(lI'l'<,l\vel' ,ha.lI bc in ddl",lt if IIIlY action 01' p<'Oclo..:ding, whctbcr civil or criminal, i~ begul1 thai, in Lendcr',
<br />judgment, <:ould n~suli in li,rJeltulx "fthc Properly or other malt:rilll illlpllirlllellt of Lender's inkl'l'sl in the Propenyor I'ights
<br />wJdcr this Se<:urity Instrumcnt. BOI'l'l.lWi:r call cure sueh a ddnult und, iJac:eelcrnli(.lnllllS oceurred, "ejuslme ([S pl'ovidcd in
<br />Sediclllt9, by e([lIsing tI.,e I'ldion or proceedillg to be dismissed with a ruling Ihal, in Lcnder' s judgm~t1I, predudes lol'lbtur~
<br />ofthe PI'OJlcrtv Or othcr IHaterial impail'ment of Lender's interest intlw Property or rights under ti,is Securityln$tnullenl. Th<;
<br />l.lt'oceeds (Ij'any award or duillll(lr d'nllages llmt ur~ attrihUlllble to Ule ilnpainncnt of Lender's intercst inlhe Pmp<'l'ty I1I'C
<br />'''I'tby assigned and shall be paid to Lender,
<br />All Miscellaneous Procced, that are nOI applicd to reSlOl'rltioll Or repair oftla, P"opCl'ly shall be applicd iuthe order
<br />provided I(l!' in Scction 2,
<br />12, Borrow<'l' NOI Reh'used; Forbeal'ance By Lcnder Not" W"ivcr, Extension of the time for payment or
<br />rl\lXlilication of alll(lniz.ation "ftile Sl\lllS secured by litis Seeul'ity lnstrunwnt grunted by Lender to Borrower 01' any Successor
<br />in 11.11'("'CSl of Bnrn)\wl' shnllnolupcralc tn I'elcllse Ihe liability or B(.HTOwel' \)I' any SUeCeSS('I'S ill Inleres( of BornllV"r,
<br />Lender ~haflnol. be r~'1uilhl to e0l111!llmee 1)I'Ocecdil1l?s lIguinst any Succt:SS()l' i'.' Ime!'csl (.rfBoJTuwer or t(ll'duse to cxtend
<br />tllllC lor paymen!:u,'uthcrwlSe modify amoruzatlOn olthe SUlIls secured by thiS Security lnStl'tlll1Cl1l by rcaSOn olanvdelllllnd
<br />made by the originall3mrower or any Successor, in L1t''''eSI.llrBorJ'(lwer. An'y li>rbcarallee by Lemler in cxcreising any right
<br />01' I'cmedy including, withollllimilation, Lendt'I"s aecept!'lnec of paymcnts Iroll1 third persons, cnul.ies or Succe~sOl'S in
<br />ltllcrest orUorrnwer or in
<br />amounts less ,hanlhe amOUl\lthen due. shall not bc ,\ waiver of or preclude the cxcr"ise nfany right. 01' I'emedy.
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<br />NI.mll.ASI0\.-Si,,~1c FlIlaily-FIlIl"I. M.o/FI'('~d;" MIl< IiNIFOHM INSTRl.iMENT
<br />I~J..'i(I.('V(ILO<;) ok"llJ7
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<br />(M EnS)
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<br />FOI'III ;\OZB I/U I (/.,{/~\." 5 (Irs IJ(I,ltl.'S,j
<br />C"Ctllhe Thiuldllg, flu.",
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<br />(iUIU\\j\;IlJ,.;,.i,Sf)
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