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<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to pbtain caverage substantially aquivalent to the Mortgage Insurance previously
<br />in effect, at a cost substantially equivalent to the cost to Borrower of the Martga�e Insurancc previously in effect, from an
<br />alternate mortgage insurer selected by L,ender. If substantially equivalent Mortgage Insurance coverage is nat available,
<br />Borrower shall continue to pay to L,ender the amount ofthe separately desi�;nated payments that were due when the insurance
<br />coverage ceased to bc in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of
<br />Mort�age Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in
<br />full, and Lender shall not be rec�uired to pay Borrower any interest or earnings on such loss reserve. Lender can no longer
<br />require loss reserve payments �f Mortgage Insurance coverage(in the amount and for the period that Lender requires)
<br />provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated
<br />payments toward the premiums for Mortgage lnsurance. If Lender required Mortgage Insurance as a condition ofmaking the
<br />Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss
<br />reserve, until I�ender's rec�uirement for Mortgage Insurance ends in accordance with any written agrecment between
<br />Borrower and Lender prov�dmg for such termmation or until termination is required by Applicable I�aw. Nothing in this
<br />Section 10 affects Borrower's obligatian to pay interest at the rate pravided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain Iosses it may incur if
<br />Borrower does not repay th� Loan as agreed. $orrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time ta time, and may enter inta
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions
<br />that are satisfactory to the mortga�e insurer and the other party (or parties) to these agreements. These agreements may
<br />require the mortgage insurer to make payments using any sourca of funds that the mortgage insurer may have available
<br />(which may include funds obtained from Mortgage lnsurance premiums).
<br />As a result ofthese a�reements, Lender, any purchaser ofthe note, another insurer, any reinsurer, any other entity,
<br />or affiliate of any ofthe foregomg, may receive (directly or indirectly) amounts that derive from (or mi�ht be characterized
<br />as) a portion af Borrower's payments for Mortgage Tnsurance, in exchange for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses. If such agreement prov�ded that an affiliate of Lender takes a share ofthe insurer's risk in exchan�;e
<br />for a share ofthe premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amaants that Barrower has agreed to pay for Mortgage
<br />Insurance, ar any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage lnsurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Sorrower has — if any — with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. "T'hese rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated aatomatically, and/or to receive a refund of any Mqrtgage InsuranCe premiums that were
<br />unearned at the time of sach cancellation or termination.
<br />11. AssignmentofMiscellaneousProceeds;Forfeiture. AIIMiscellaneousProceedsareherebyassignedtoand
<br />shall ba paid ta L.ender.
<br />Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, I.,ender shall have the right to hold such Miscellanepus Proceeds until I..ender has had an opportunity to inspect such
<br />Property to ensure the work has be�n completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series ofpragress payments as the
<br />work is completed. Unless an agraement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellan�ous Praceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous
<br />Proceeds. Ifthe restoration or repair is not economically feasible or I.ender's security would be lessened, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this 5ecurity Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />ln the event of a total takin�, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower.
<br />In the event of a partial takin�;, destruction, or loss in value of the Property in which the fair market value af the
<br />Property immediately before the partial taking, destruction, ar loss in value is equal to or greater than the amount ofthe sums
<br />secured by this Security Instrument immediately before the partial taking, destructian, or loss in value, unless Borrower and
<br />Lender ntherwise a�ree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
<br />Miscellaneous Proceeds multiplied bythe following fraction: (a) the total amount ofthe sums secured immediatelybeforethe
<br />partial taking, destruction, vr Ioss in value divided by (b) the fair market value ofthe Property immediately before the partial
<br />takin�, destruction, or loss in value. Any balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value ofthe Property in which the fair market value ofthe
<br />Property immediately before the partial takin�, destruction, or loss in value is less than the amount af the sums secured
<br />immediately before the partial taking, destruction, or loss in value, unless Barrawer and C,ender otherwise agree in writing,
<br />the Miscellaneaus Proceeds shal l be applied to th� sums secured by this Security Instrument whether or not the sums are then
<br />due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
<br />defined in the next sentence) of�'ers to make an award to settle a claim for damages, Borrawer fails to respond to [,�nder
<br />within 30 days after the date the notice is given, Lender is authorized to callect and apply the Miscellaneous Proce�ds either
<br />to restoration or repair of the Proparty or ta the sums secured by this Security Instrurnent, whether or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower
<br />has a right of action in regard to Miscellaneaus Proceeds.
<br />Borrower shall be in default if any action or praceeding, whether civil or criminal, is begutt that, in Lender's
<br />judgment, could result in forfeiture ofthe Praperty or other material impairment of Lender's interest in the Property or rights
<br />under this Security Instrument. Borrower can cure such a default and, ifacceleration has occurred, reinstate as provided in
<br />Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forf�iture
<br />ofthe Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The
<br />proceads of any award or claim for damages that are attributable to the impairrnent of Lender's interest in the Property are
<br />hereby assigned and sha(l be paid ta Lender.
<br />All Miscellaneous Proceeds that are npt applied to restoration or repair afthe Property shall be applied in the order
<br />provided for in Section 2.
<br />12. Sorrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payment or
<br />modiiication af amartization ofthe sums secured by this Security Instrument granted by C.ender to Sorrower or any Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower ar any Successors in Interest of Borrower.
<br />Lender shall not be required ta cammence proceedings against any Successor in Interest of Borrower ar ta refuse to extend
<br />time for payment or otherwise modify amortization ofthe sums secured by this Security lnstrument by reason ofanydemand
<br />made by the original Borrower or an� Successors in Interest of Borrower. Any forbearance by L,ender in exercising any right
<br />ar remedy including, without limrtat�on, Lender's acceptance of payments from third persons, entities or Successors in
<br />Interest of Borrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />NF,RRASKA--Singlc Family--Fannie Mae/FredJic Mac IJNIFORM INSTRIIMENT (M�RS)
<br />12439.CV (1/OS) 9U4495
<br />Form 3025 1/01 (page 5 af8 pages)
<br />Creative Thinking, Inc.
<br />GOTO(001 Zedf I )
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