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<br />200806925
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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 bech~acterized as) a poniop. of Borrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modi.1)1ing the mortgage insurer's risk. or reducing losses. If such agreement
<br />provides that ,an affiliate of: Lcnder 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 terined "captive reinsurance," Furtner:
<br />(a)'Any sllch agreement<; will not affect the amounts that Uorrower has agreed to pay fur
<br />Mortgage Ins~rance, .orariy other terms of t~e wan. Such agreements will not increase the ainount
<br />BOl'rower will owe for Modgage Insurance, and they wiIlnot entitle Borrower to. any refund. .
<br />(b) Any such agreements will not aUect the rights Borrower has -it' any - with respect to tbe
<br />Mortgage Ins,llranee' undertbe HoineownersProtection Act of 1998. or any other law. These rights
<br />.may include the right ~oreceive' certain disclosul'(~s, to request and obtain cancellatiollof tile
<br />Mortgagelnsurancc, to havcthc Mortgage IliSllrance terminated automaticaJly,a~d/o.. tOl'cceivca
<br />refund Of any MortgageJIlsurance premiums that were uIllmrtied at the timcof such cancellation or
<br />Uirllllnation" ' .... ...... ,.' ".. '.' ..' ". ,... , "
<br />. .,.lLAssignrrieJlt of 'Mts~Uaueolls . Pr(l?eeds; . Fo;rfeitlJfe. All Miscellaneo~s Proceeds are . hen;by
<br />. 'assigned, to llfId shall bepl\id to. I..endeL " ..' . '. '. . . ". . .' . .
<br />.' If the PropertyisdamagM,such Miscellaneol.lsPioceeds shall be applied to restoration or repair of
<br />the Property ,if therestorati?n orrepair iseconomkally feasible and Lender's security is riot lessened,
<br />During such repair and restOration period, Lender shan have the right to hold such Miscellaneous Proceeds
<br />'until tender4as had an opportunity to inspect S\lCh Property to ensure the work has beencoinpleted to
<br />Lerlder's satisfaction, provided that such illspectionshall be. undertaken promptly, Lender may pay for the
<br />rcpai1:sarid restoration in a singledisbursement or ina 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 tQpay Borrower any interest or earnings on such
<br />Miscellaneous: Proceeds. Ifthe restoration or repair is not economically 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 imy, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the orderprovided for in Section 2. . .
<br />. . Tn the event of it total taking, destruction, or loss in value of the Property, the Miscel1aneotis
<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 Bo~rower. . . . .
<br />. ,In the ev~nt of a partialtakillg, destruction, or loss in value of the Property in which the fair market
<br />value of thePropcl'ty inunediately before the partial taking,' destruction. or loss in value is equal to or
<br />,greater than the amount Qf the sums secmred by this Security Instrument iIhmediately before the partial
<br />taking, destruction, or 10$S in value, unless Borrower and Lender otherwise agree in writing, the sums
<br />sec,ured by this Security. Instmment shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied bith.e 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 thepat~ilil ta~ng, destruc~ion, ot lossjn value, Any balance sh~lI be paid to B~mower.
<br />In the event of a parhaltaking, destructlon, or loss tn value of the Property 111 whlch the fall' market
<br />value of the Property immediately before the partial taking, destruction, or loss iIi value is less than the
<br />amount of dIe sums secufe(H~ediately 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 lristrtiment whether Or not the sums are then dUe.
<br />If the Property is abrmdon,ed by Borrower, or if. after notice by Lender to Borrower that the
<br />OPPc>sing Party (as defined in the next sentence) offers to make an award to settle a claim fordamagcs,
<br />Borrower fails 10 respond to Lender within30 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 />sums secur,ed by this Securitylustrument, whether or not then due, "Opposin~ 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 Misqellaneous'Proceeds; "
<br />. Borrowet shall be in default if any action or proceeding, whether civil. or criminal, is begun that, in
<br />Lender's judghient, CQulQ result in forfeiture of the Property or other material irilpairinent of Leildet"s
<br />interest in the:Property or rights under this Security Instrument. Borrower can cure such a default mId, if
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<br />Ini~,~ 0110283305
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<br /><<Ia'GIN!:) (0407).02
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<br />P.g.9 of 15
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<br />Form 3028 1/01
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