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<br />200806054
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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 />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mongage 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 termed "captive reinsurance." Further:
<br />(a) Any such agreements will not afl'cet the amounts that Borrowcr has agreed to pay for
<br />Mortgage Insurance, or any other terms of' the Loan, Such agreements will not increase the amollnt
<br />Borrower will owe for Mortgage ~llsural1c~l and ther willllot entitle BOrl'~wer to any, refund,
<br />(b) Any such agrccmentswdl not llfJect the fights Borrower has ~ If 11I1Y . wJthrespect to the
<br />Mortgage Insunmce under the Homeownm's Pl"Otection Act of' 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination. .
<br />11. Assignmentof Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to ano shall be paid to Lender. . .
<br />If the Property is damaged, such Mjscell~eous Proceeds shall be applieo 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 restoration period, . Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such ProperlY 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 restoration in a single disbursemein 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 />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest 01' earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is not econol'uically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums 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 ofa tOtal taking, destruction, 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 partial taking, destruction, or loss in 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 sums secured by this Security Instrument immediately before the partial
<br />taking. destruc.tion, or loss in valUe, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall 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 />immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in WhlCh the fair market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is less than 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 Instrument 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 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 Gallect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />sums secured 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 Miscellaneous Proceeds.
<br />Borrower shall be in default if any ac.tion or proceeding, whether civil or criminal, is begun that. in
<br />Lender's judgment, could result in forfeiture of the Property 01' other material impairrnerllof 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 />cD-6(NEI 104071.02
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<br />Inl\lols: _~_:____~__I_.
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<br />0110283038
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<br />P"90 9 of 1>
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<br />'-t.l.l..
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<br />Form 3028 1/01
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