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<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate af any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or mi�ht be characterized as) a portion of Barrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the martgage insurer's risk, �r 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 t�rmed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Martgage Insurance, or uny other terms of the Laan. Such a�reements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Hameowners Protection Act af 199$ or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, ta have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mort�age Insurance premiums that were unearned at the time of such cancellation ar
<br />termination.
<br />11. Assignment of Miscellaneous Proeeeds; Forfeiture. All Miscellaneaus Praceeds aze hereby
<br />assigned to and shall be paid to Lender.
<br />If the Praperty is damaged, such Miscellaneous Proceeds shall be applied to r�storation or repair of
<br />the Pra�erty, if the restoration or repair is economically f�:asible and Lender's security is nat lessened.
<br />During such repair and restoration period, �,ender shall have the right to hold such Miscellaneous Praceeds
<br />until Lender has had an apportunity to inspect sucli Property to ensure the work has been cocnpleted to
<br />Lender's satisfaction, pravided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a singlc disbursement or in a series of progress payments as the wark is
<br />completed. Unless an agreement is made in writing or Applicabl� I,aw requires interest to be paid an such
<br />Misccllaneous Proceeds, I,�nder shall not be requircd to pay Borrower any inter�st ar earnings on such
<br />Miscellaneous Proceeds. If the restoration or repair is nat ecanomically feasible ar Lender's security would
<br />be lessened, the Miscellaneous Froceeds shall be applied to the sums s�cured by this Security Instrument,
<br />whether or not then due, with the cxcess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the cvcnt pf a total taking, destruction, or loss in valu�: of the Froperty, the Miscellaneous
<br />Prc>ceeds shall be applicd 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, destructian, ar lass in value of the Property in which the fair mar.ket
<br />value of the Property immediately before th� partial taking, destruction, or lass in value is equal to or
<br />greater than the amount of thc sums secured by this Security InstrumenC immediately before the partial
<br />taking, dc:struction, or loss in value, unless Borrower and Lend�r otherwise agree in writin�;, the sums
<br />s�cured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amaunt of the sums securcd immediately before the
<br />partial taking, destructi�an, or loss in value divided by (b) the fair markc;t value of the Property
<br />immediatcly before the partial taking, destruction, or loss in value. Any balance shall be �aid tc� Ac>rrawer.
<br />In the event of a�aa'tial talcing, destruction, or loss in value of the Property in whtch the fair market
<br />value of the Froperty 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, destruction, or loss in value, unless
<br />13orrc�wer and Lender otherwi5e agree in writing, the Miscellaneous Proceeds shall be applicd ta th� sums
<br />secured by this Security instrume�7t whether or not the sums are then due.
<br />If the Property is abandoned by Barrower, or if, aft�r notice by Lender to F3arrawer that the
<br />Opposing Party (as defined in thc next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the natice is given, T..ender is authorized
<br />to collect and apply the Miscellancous Proceeds either to restoration or repair of the T'roperty or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means th� third party
<br />that owes Borrowcr Miscellaneous Proceeds ar the party against whom Borrawer has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />$orrower shall be in default if any action or proceeding, whether civil ar criminal, is begun that, iaa
<br />Lender's judgment, could result in forfeiture of the Property or other material impairrnent of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cur� such a default and, if
<br />�-fi(NE) �oao��.oz
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<br />P�e 9 of 15
<br />�sig: �1 r I
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<br />F�����1-Y��Yltl
<br />Form 3028 1l01
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