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201006053
<br />As a result of these agreements, Lender, arty purchaser of the Note, another inswrer, any reinsurrr,
<br />any other entity, ar arty affiliate of arty 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 far sharing or modifying the mortgage insurer's risk, ar redudng losses. If such agreement
<br />provides that an affiliate of Lender takes a share of the insurer's risk in exchange far 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 affect the arnoiutts that Borrower has agreed to pa for
<br />Mortgage Insurance, ar any other terms of the Luau. Such agreements will not Increase the amount
<br />Borrower vui"ll awe for Mortgage Inswrance, and thex will not entitle Borrower to qty refttttd
<br />(l>') Any such agreements wall not affect the rights l3cerrawer has - if any - 7w th respect to the
<br />Mortgage ~ce tinder the Homeowners Pratectian Act of l99$ or airy other law. These rti is
<br />may include the right to receive certain disclosures, to request and obtalrt cancellation of~the
<br />Mortgage Insurance, to have the Mortgage In~+~.ance terminated automatically, and/or to receive a
<br />refund of arty Mortgage Ittsuarance premituns that were unearned at the time of sorb canoellatlott ar
<br />termitnttian.
<br />11. Assignment of Miscellaneous Proceeds; Forfelttue. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be ppaaitd to Lender.
<br />If the Property is du-laged, such Miscellaneous Proceeds shaII be applied to restoration or repair of
<br />the Property, if the restoration ar 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 Proppeerty to ensure the work has been completed w
<br />Lender s satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay far the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made irx writing yr Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, lender shall not be required to pay Harrower any interest ar earnings on such
<br />Miscellaneous Proceeds. If the restoration nr repair is not economically feasible ar Lender s security would
<br />be lessened, the Miscellaneous ProCV~eds shall 6e applied to the Burns secured by this Security Instrument,
<br />whether or not then due, with the excess, if arty, paid to Borrower. Such Miscellaneous Prncfsrds shall be
<br />applied in the arder provided for in Section 2.
<br />In the event of a total taking, :destruction, ar loss in value of the Property, the Miscellaneous
<br />Prooeeds shall be applied to the sums secured by this Security Instrument, whether or oat then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, nr lass In value of the Property in which the fair market
<br />value of the Property immediately before the partial taking, destruction, ar lass in value is ual to or
<br />greater than the amount of the sutras, secured by this Security Instrument immediately before fire partial
<br />taking, destruction, ar 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 Froceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured ittmaediateiy 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, ar lass in value. An balance shall be pall to Borrower.
<br />In the event of a partial taking, destruction, ar loss in value of the Property in 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 of the sttms secttred immediately before the partial taking, destruction, or lass in value, unless
<br />Harrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied W the sums
<br />secured by this Security Instrument whether nr not the sutras are then due.
<br />l'f the Property is abandoned by Borrower, ax 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 td respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscetlaneaus Proceeds either to restoration or repair of the Property ar to the
<br />sums secured by this Security Ittstrttrtient, whether or rant then due. "Opposing Party" means the third party
<br />that awes Borrower Miscellaneous Proceeds or the party against wham I3arrnwer has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if arty action ar proceeding, whether civil or criminal, is begun that, in
<br />Lendex's fudgment, Could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />acceleration has occurred, reinstate as; provided in Section I9, by causing the action or proceeding to be
<br />t38gg859219 88gg8~927.9
<br />i~1~tiRASIGI -Single Family -Fannie MaNFredd~ Mac UNIFQRM INSTRUMENT WI
<br />~6A(NEltaaiol Page9of 15 ~Illd~ ~ Farm 3028 9lD1
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