|
2oioos35�
<br />(a) Any aucA ag�eemenb rvill not a�ect the amounts tLat Borrower hae agreed ta pay for Mvrfgage Insuranc� nr aay
<br />other terme ot the LoAn. Such agreemenb will not increase the amonnt Borrower wiU owe Por Mortga�e Ltantance, and they
<br />will not entitle Borrower to any re}und.
<br />(p) Aay auch agreemenb will mot ai�ect the rlghp Borrorer has - SP any - with a+eepect to the A[ort�aqe Inaurence under
<br />the Ffomeowners Protcction Act at 1998 or arry oMer law. Theae righU may include the rigbt M receive certain diaeloaures,
<br />ta request aad obtaim canoelLvtion of tlte l�o�lgage Insurancc, to have the Mort�agc Tnsurance termituted avtomaNcal�y,
<br />and/or to receive a refind of uny 1Vlortgage Insurnnce premiums that were unearned at the time of'uch cancellatdon or
<br />tewminatfon.
<br />11. Aasi�ument af 1►'�'iecellameaua Proceeds; Forfeiture fUl Ivt'iscetlaneous Pinceeds are herebq sssigned to and shall be
<br />paid 10 Lendet.
<br />If the Propesty is damaged, s�xh Miscellanoous Procacds shall 6e applied to restoiation ar repair of the Propetry, i£tite
<br />restoration vr repair is economicaily feasible and I.en,der's security is not lessened. During such repair aud ;re&toration period,
<br />Lender sha11 have the right to hold such Miscellaneous Proceeds until Lender lias t�d an oppotAU�iry ta iaspect such
<br />Prvperty to ensure thc work Faas 6cen cqmpletcd m Lendcr's satisfaction, providal that such inspxtion shhall bc undcrtakcn
<br />�xnunpti,y, Lender may pay for the repairs and ratoration in a single disb�nsement or in a series of prog[rss payments as the
<br />wosk is completed. Chzlesa sn sgrecmem is maQe in writing or Applicabla Law requires interts[ W be paid on such
<br />M'iscellaneous Procecds, Lender sGall not be required to pay Borrawer a�ry interest or ean�ings on auch Misceltanaous
<br />Pruceeds. If the restqration or repair is nnt ecanomically feasible ur Laidets security vvnuld be lrssened, lhe Miecellaneous
<br />f'roceeds shatl be applicd m the sums sevw�ed by fhis Security Iustcument, wlteU�ex or not then due, with the cxcess, iFa�.
<br />paid to Ba�nower. Such Miscellaneous Proccedg shall be applied in. tl� order provided for in Sa:tion 2.
<br />Iu the event of a to�l takiqg, desttuetioa, or loas in value of th� Propea'ty, the Miscellsnmus Proceeds eY�all be appli� to
<br />the aums secu�ed by dtis Security Insmancnt, whetheA' at:twt theu due, with the excesa, if aciy. Paid ta Burrower.
<br />In fhe event of a partiat taking, destruclion, nr loss in valne of the Property in which the fair rnarket value of th� PmpcRy
<br />immediately 6efore the partial taking, dcshvction, or loss in value is rqual to or greater than the amownt oFtht swns secwe�
<br />lry this SeeuritY Instnmient �mediutaiy bafoie tl�.e pnitial taking, deslructian, ar loss in value, unless Bocrow� and Lender
<br />otLerwiso a�ee in writing, the sucns seeured by uvs Securiry Tnshvmmi sha11. be xeduced by rhe smoimc of rhe A2isee3laneous
<br />R»ceeds miilti�li.ed by ihe fbllrnving fractlon: (a) the total amowit of the swns secured i�iatcly befqre tl� pactial laking,
<br />desuucticm, or loss iu value ditvidod by (b) the fair uiaxgst value of the Property immediaulq before the partisl ta�,
<br />des�uction, � loss anvalue, Any balamce shall be paid to Bo�rower.
<br />In the e�e� of a pa�tiai takiag, des�uction, or loss in value of the Praperiy m wluclt tlte fait' madcct valuo of the Pmperty
<br />immediately befoze the paRial taldng, dastructivn, or loss in value is less tban the amo�t of tbe su� securcd imcnediately
<br />before the paztia.l laking, destruction, or loss iu value, unless Sorrower and Lendox otherwise a�ee 9n writlng, the
<br />Miscellanevus Procads shall bt applied to the smns sec�ucd 6y tkris Security Insmnne� wLcthcr or not the swos are thm
<br />dua
<br />Tf tkde �'roperty is abandoned by Bonrower, or if, after notico by Lendex W 9oxtovwer that rix �PPo��B �Y (as defi.tied in
<br />the next sen.tence) offers to make an awa�d to settle e claan for demages, Boaower fails W respond to Lender witivn 30 days
<br />atter the dnte the notzce is given, T.ender is sutltorized ro colleet and apply the Mscellaneous Proceeds eitha' w resloxation ox
<br />ropair oF lhe ProperCy or to the sums seciued by tuas Security Tnsmiment, whether or nat thtn due. "Opposing Paxty" means
<br />the thind peny that oa�es BoAOOVa Miacella�aGOUS Proceeds or ttue perty sgsinst whom. Bartorve� has a right of action in reSand
<br />to Miacep�uaous Proceeda.
<br />Borrawer shall be in defaulc if any acuon or proceeding, whether civil ar ctiroinal, is lxgun that, ia l.aadd�s judgmmt,
<br />could tesult in forfeiture of tlye Property or aftrs material irupaiane�t of Lender's interest in the �'operty ar' rights under tk�is
<br />Secuxiry rnstr�ne7�. So¢�ower can cxue such a de�ult and, it acceleration has xcuned, reixistate as provifled i% Sectlon 19, by
<br />causing tltt acdon or procading W be dis�nissed with a niling that, in T,exdet's judgme�, procludes Foifeihue of the Propeny
<br />or other matecial in�pairment oF I.end�s irderest in the Praperty or nights �mder tltis Saurity Ir�sdwneut. The procads oF arry
<br />awand or c1a3m For damages that are at�ibutable ta the impaixmem of L�a interest in the PropertY sre herebY assigned end
<br />shall be paid to Lender.
<br />All Miscellaneous Proceeds that aze zlot applied to restoration or repair of the Property sha11 be applied iu the ord�
<br />provided for in Sxrion 2.
<br />�.s. �,�4
<br />NE9RA8Kp - Singk FamAy - Funnt� MadFnddla Maa UXI�GIIM INSTRIIMIBJT
<br />� ��n ar�oae�� i��:u: Form sa28 vot
<br />DnB-P189
<br />II�����dA��������lplu����ll�
<br />OOODNE9841359
<br />
|