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<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any othcr entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) arnaunts that
<br />derive from (or might be characterized as) a portion of Barrawer's paym�nts for Mort�age Insurance, in
<br />exchange for sharing or modifying the martgage 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 />prcmiums paid to the insurer, the arrangement is often termed "captive reinsurance." Furthcr:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed ta pay far
<br />Mortgage Insurance, ar any ather terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage lnsurance, and the� will not entitle Borrawer ta any refund.
<br />(b) Any such agreements will not affect the r�ghts Borrower has - if any - with respect to the
<br />Mort�age Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />muy include the right to receive certain disclosures, to request �nd obtain cancellation of the
<br />Mortgage Insurance, ko have the Mortgage Insurance terminated automatically, and/or to receive a
<br />ref"und of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, sueh Miseellanec>us Proceeds shall be applied to restoration ar repair of
<br />the Property, if the restoration or r�pair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration periad, Lender shall have the right to hold such Miscellaneaus Praceeds
<br />until Lender has had an opportunity to inspect sucl� Property to ensure the work has been campleted tc�
<br />Lender's satisfaction, provided that such inspectian shall be undertaken promptly. Lender may pay for thc
<br />repairs and restoratian in d single disbursement or in a series of progress payments as the work is
<br />completed, Unless an agreement is �nade 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 />Misccllanec>us Procecds. if the restoration or repair is nat econpmically feasible or Lender's security wauld
<br />be lessened, the Miscellaneous Proceeds sl�all be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. 5uch Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event of a tatal taking, dcstruction, or loss in value af the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether ar 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 Praperty in which the fair market
<br />value of the Property immediately before the partial taking, destruction, ar loss in vatue is equal to or
<br />greatcr than the amount of the sums secured by this Security Instrument immediately before the partial
<br />talcing, destructic>n, c�r lc>ss in value, unless Barrower and Le;nder otherwise agree in writing, th� sums
<br />secured 6y th'rs 5ecurity lnstrument shall be r�duced by the amount of the Miscellancous Proceeds
<br />multiplicd by the following fraction: (a) the total amount of the sums secured immediately bcfc�re the
<br />p�rtial tillUll�' destruction, or loss in value divided by (b) the fair market value of the Prc�perty
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall b� �aid to Borrower.
<br />In the evcnt c>f a partial taking, destruction, or loss in valuc: c�f the Property in which the fair markct
<br />valu�: of' the Property immediately before the partial taking, destruction, or loss in value is less than thc
<br />amount of the sums secured immediately befare tlle partial taking, destructian, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Praceeds shall be applied to the sums
<br />secured by this Security Instrum�,�r►t whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that thc
<br />Opposin�; Party (as defined in the 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 notice is given, Lendcr is authorized
<br />to callact and apply tl�e Miscellaneous Froceeds either to r�storation or repair of the Praperty pr to the
<br />sums secured by this Security Instrument, whethcr or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellancous Proceeds or the party against whom Borrower has a right of actian in
<br />regard to Mise�llaneous Procc:cds.
<br />Borrower shall be in default if any action or proceeding, whether civil c�r criminal, is begun that, in
<br />Lendcr's judgment, could result in forfeiture of the Property or other material impairment of Lender's
<br />interest in the Praperty ar rights under this Security Instrument. �c�rrawer can cure such a default and, if
<br />�-6(NE) �oao��.o2
<br />�
<br />�tisig:
<br />P�e 9 of 15 ✓ �
<br />1111QS6073
<br />Form 3Q28 1/Q1
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