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201007141
<br />As a result of these agreements, Lenckr, any purchaser of the Note, another insttarer, airy reinsurer,
<br />any other entity, or a~- affiliate of airy of the foregaiaag, may receive (dirrctly or indirectly) amounts that
<br />derive from (or might be charaeterixcd as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange fox 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 ittsttr+er, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any each agreements will not a,~ect the amountrs that Borrower has agreed to pay for
<br />Mortgage l[nsurance, or any other terms of the Loan. Such ~~ wiU snot inereaage the amdount
<br />Borrower will owe for Mortgage iansnranaae, and will not entitle Borrower to and rehu4d.
<br />(b) Any snrh agreements will not at[ect the~i ghta Borrower ha®- if any - vnth rrxpect to the
<br />Mortgage ltnsnrance under the iiorneownrrs Protection Act of 1998 or any other law. These rights
<br />may ianclnde the right to reactive certain disclosures, to request and oh~taian cancellation o! the
<br />Mortgage insurance, to have the Mortgage insurance tearmigated automatia~ily, and/or to receive a
<br />refund of any Mortgage Iausurauce premiums that were unearned at the time ai such cancellation or
<br />termination.
<br />11. Assigaaunent of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc hereby
<br />assigned to and shall be par"d to Lender.
<br />Yf the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair i$ economically feasible and Lennder's security is not lessened.
<br />During such repaiar and restoration period, Leander shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such ia~pection shall be undertaloen promptly- Lender may pay for the
<br />repairs a>md restoration in a single disbursement 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 or earnings on such
<br />Miscellaneous Proceeds. if the restoration or repair is not economically feasible or Lender's security would
<br />be lessenned, 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 of a total taking, destruction. or loss in value of flu Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Insttvtreent, whether or not then due, with
<br />the excess, if atty. pool to Borrower.
<br />In the event of a partial taking, destxuctioaa, or loss in value of the Property iu which the fair market
<br />value of the Property i~tely before the psrt3al taking, ,destruction, ar loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instzvment immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Leruder otherwise agree in writing, the sums
<br />secured by this Security Insttvmcnt shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured innnaediatcly before the
<br />partial taking; destruction, or loss in value divided by (b) the fair market value of the Property
<br />imuncdiately before the partial taking, destruction, or loss in value. balance shall be paid to Harrower.
<br />In the event of a partial taking. destruction, or loss in value of a Property in which 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, ckatnutiou, or loss in value, unless
<br />Borrower snood Lender otherwi~ agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />see~u^od by this Security Instrunoent whether or rot 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 setatence) offers to mare an award to settle a claim for damages,
<br />Borrower fails. to rrspond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collets and apply the Miscellaneous Prooceds either to rsstorationn yr repair of the Property or to the
<br />sums erc~rred by this Security Insirttment, wheWer or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Borrower Rasa a right of action in
<br />x+cgard to Miscellaneous Proceeds.
<br />Borrower shall be in ckfault if a~- action or proceeding, whether civil or criminal, is begun that, iUt
<br />Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Property or rights utader this Security Instrument. Horrowcr can cure such a default and, if
<br />N RASI(A - Sinala Family - F~nnM Mm/Freddis Marc UNIFORM INSTRUMENT
<br />-8tNE) toes ~ a P+a• s ~ ~ s a~•: y,~.i,_, Form 3028 1 /d 1
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