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200905993 ]f the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration ar repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repay and restoration period, Lender shall have the right to hoid such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration ion a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest nr earnings on such Miscellaneous Proceeds. if the restoration ar repair is not economically feasible ar Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security ]nstrument, whether or not theft, due, with the excess, if any, paid to Harrower. Such Miscellaneous Prpceeds shall be applied in the order provided for in Section 2. In the event of a total, taking, destruction, or lass in value of the Property, the Miscellaneous Proceeds shall be applied #a the sums secured by this Security ]nstrument, whether or not then due, with the excess, if any, paid to Borrower. ' In the event of a partial taking, destruction, nr loss in value of the Property In which the fair market value of the Prpperty immediately before the partial taking, destruction, or loss in value is equal to ar greater than the amount of the sums secured by this Security hnstrument immediately before the partial taking, destruction, or loss In value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the fallowing fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or Ions in value divided by (b} the fair market value of #.he Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Froperty in which the fair market value of the Property irtumediately before the partial taking, destruction, OF loss in value is less than the amount of the sums secured imimediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in wrlfing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the t7pposing Party (as defined in the next sentence) offers to make an award to settle a claim far damages, Borrower fails tv respond to Lender within 30 days after the date the notice is given, Lender is au#horized to eollect acid apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "tapposing Party" means the third party that awes Horrower Miscellaneous Proceeds or the party against whom Horrower has a right of action in regard to Miscellaneous Proceeds. ~.$~ - Si„gle Family _ pamk ~ladFrwlda bba IRaFQYdI kI1S1'RI16ffiNTr Perm 9016 1/0 4Cf:;- 43028-11 (09/Ot) (Pxge 11 of19) ~~;