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<br />2oioo2490
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, ar any affiliate pf any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Botxawer's payments for Mortgage Insurance, itt
<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 termed "captive reinsurance." Further:
<br />(a) Any sorb agreements will not affect the amounts that Borrower has agreed. to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements wilt not increase the amount
<br />,Borrower will awe for Mortgage Insurance and they will not entitle Borrower to and refund.
<br />(h) Any such agreements will not afi~ect the ~nghts Barrows has - if any -with respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disrlosvres, to request and obtain; cancellation of the
<br />Mortgage Insurance, to have We Mortgage Insurance terminated automatically, and/or to receive a
<br />1'enmd of any Mortgage Insurance premiums that were unearned at the tfine of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be aid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if We restoration or repair is economically feasible and Leader's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Leader has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection steal! be undertaken promptly. Lender may pay far tho
<br />repairs and restoration in a single disbursem~etu or in a series of progress paytne~nts 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, I..ender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is npt economically feasible or Fender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the stuns 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 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 irtunediately before the partial taking, destruction, or loss in value i$ equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />t~akiu$, destruction, or loss in value, unless Borrower and Lender otherwise. agree in writing, the sums
<br />secured by this Security Instrument shalt. be t~educed 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 tna~cket value of the Property
<br />unmediately before the partial takir~, destruction, or loss in value. Any balance shall be aid to Harrower.
<br />In the event of a partial taking, destruaion, or Ions in value of the Property. itt which the fair market
<br />value of the Property immediately before the partial taking. destruction, or lass in value is less than the
<br />amount oP the sums secured imnnediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Fender othetvvise agrees In writing, the Miscellaneous Proceeds shall be applied to the sums
<br />s~'ed by this Security lnsttttt~nt whether or not the terms are then due.
<br />If the Property is abandoned by Harrower, or if. after notice by Lender to Harrower that the
<br />Opposing Party (as defined in the next sentence) offers to make sa 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 txstoratlon or repair of the Property or to the
<br />sums'secured by this Security Instrument, whether or not then due. "Opposing Parry" 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 aaian ar proceeding, whether civil or criminal, is begun that., in
<br />Lender's judgment, could result in forfeiture; of the Property ar other arnaterial impairment of Lender's.
<br />Interest in the Property or rights under this Security hrstrument. Borrower can curve such.a default and, if
<br />Paps 8 of t b t~prm 302$ 1'/01
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