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<br />As a result of these agreements, Lender, any purchaser of the Note, anather insurer, any reinsurer,
<br />any other entity, or any af�liate of any of the foregoing, may receive (directly or indirectly) arnounts that
<br />derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, iza
<br />exchange for sharing ar modifying the rnortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an af�liate of I.ender takes a share of the insurer's risk in exctaange for a share of the
<br />prerniums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
<br />Borrower will owe for Mortgage Tnsurance, and they will not entitle Borrower to any refund.
<br />(b) Any sach agreements will not affect the rights Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Hameowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain d'rsclosures, to request a�d obtain cancellation af the
<br />Martgage Insurance, to have the Mortgage Insurance terminated aatatnatically, and/or to receive a
<br />refund of any Mortgage Insarance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; �'orfeitare. All Miscellaneous Proceeds are hereby
<br />assigned to and sha11 be paid to Lender.
<br />lf the Property is darnaged, such Miscellaneous Proceeds shall be applied to restoration pr repair of
<br />the Property, if the restoration or repair is economically feasible and I_,ender's security is not lessened.
<br />During such repair and restoratio:n period, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an oppartunity to inspect such Property to ensure the work has been completed to
<br />I.ender's satisfaction, provided that such inspection shall be undertaken promptly. L,ender may pay for the
<br />repairs and restaration in a single disbursement or in a series of progress payments as the wark is
<br />completed. Unless an agreenaent 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 ar earnings on such
<br />Miscellaneous Froceeds. If the restoration or repair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous Froceeds shall b� 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 af the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums s�cured 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, destruction, or loss in value of the Property in which the fair market
<br />value of the Praperty immediately before the partial taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument imrnediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender othexwise agree in writing, the sums
<br />secured by this Security lnstrument shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount o F tlxe sums secured immediately 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, destructian, or loss in value. Any balance shall be �aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property immediately before the partial talcing, 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 />Sorrower and L.ender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the surns
<br />secured by this Security Instrument whether or not the sums are then due.
<br />�f the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing �arty (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to L,�nder within 30 days after the date t1�e notir..e is given, Lender is authorized
<br />to callect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
<br />swns secured by this Security Instrument, whether or not then due. "Opposing Party" nneans tl�e third party
<br />that owes Borrower Miscellaneous Proceeds or the party against whom Barrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action ox proceeding, whether civil or criminal, is begun that, in
<br />I,ender's judgment, cvuld result in forfeiture af the Property or other tnaterial impairment of Lender's
<br />interest in the Propeny or rights under this Security Instrument. Borrower can cure such a default and, if
<br />�niva�s:
<br />�-BG�NE) 10oo51.ot Page 9 of 15 Form 3028 9l09
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