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2010p8447
<br />As a re.sWt of these agr�ts, Leaadrx, any purchaser of tho NoCe, snother insu�rer, any rein�urer,
<br />any athe�r eutity, or any affiliate of any of the forego'vng, may receive (direc�ly or indirectly) amounts that
<br />derive frorn (or might be characterir,ed as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchange for at�at�ng ar rnadifying the moRgage insurer's risk, or reducip�g losses. If such agreement
<br />provides that an affiliate af Lender takes a share of the iasurer's risk in e�change for a share of the
<br />premiums paid w the insurer, the arrange�nt is often termed "captive reinsurance." Further:
<br />(a) Any �uch �ents will nat affect the emou�s t�at Bonrowe9r 6�s age+eed to pay for
<br />Mortgage Ina�u�ae, or any other tern� of the I.aan. � agrecme�t� will not increaa�se the amount
<br />Borrawer wW dwe for Mortgege Ynsurance and they wW not entitle Bortavr'�r to any re�'und.
<br />N) �Y such a�ne� will nat ai'�ect the rIgtits Borrow� �- if auy - v�nith re�pect to the
<br />Mat�gage La�urAnce und� the Aumeowners Prote�tion Act oi 1998 or any oth�r law. Thea�e right�
<br />may i�nclnde the ri�ht to reoelve certain dieclosures, ta rreque�st and nlrtain cancellatlon of the
<br />Mortgage In,surance, to l�sve the Mortgage Insurance terminated sutomatically, and/or to reodve a
<br />ret�wd af any Mortgsge Insr�rance premium� that were une�rned at the tlme of such cancellado�n ar
<br />ternriivation.
<br />11. A�ig�ow�ent o� Mi�aellaneoua Praoeecls; ForFdture. All Mis�lla�ous Proceeds are hereby
<br />assigned to and ahall be aid to L�nder.
<br />If the Property is �cd, such Miacellanoous Proceecls shall be applied ta x�estaration �r repair nf
<br />the Property, if the restoration or repair is economically feasiblc and L,ender'a security is not lessened.
<br />During such repair and t�estoration period, L.endcr shall have the right W hald �uch Misoellaneous Proc�ds
<br />until I,ea�dex has had an opportunity to utspect such Property W ensure the work has been completed ta
<br />I.ender's satisfaction, Pz�vided that such ingpection shall bes undsrtaken PromptlY. Len�der maY PaY for th�
<br />repairs and restorariion in a singlB disburscm�t or in a series af progxe�ss payments as the work is
<br />wmpleted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proc�eds, t.e�cr ak�a11 not be required to pay Borrower any interest ar ear�nings on such
<br />Miscellaneous Proceed�. If the rastvration or repair is not ea�nnmically feasible or I.ender's security would
<br />be lesscned, the Miscellaneovs Prncceds shall be applicd tio thc sunns secured by this Security Instrurnent,
<br />whether or not then due, with the eac�ss, if any, paid to Horrower. Such Miscellaneous Prcaceeds shall be
<br />applicd in the order provided for in Section 2.
<br />In the eve�t nf a total taking, desvuction, or loss in value of t� Praperty, the Miscellaneous
<br />Proc�aeds shall be applied to the sums eecured by this S�curity Instttut�ent, whether or not then due, with
<br />the eacass. if any. Paid to Borrovver.
<br />In the evern of a paraial taking, destn�ction, or loss in valus of the Pmperiy in which tho fair market
<br />value of the Fmperty immediate�ly bcfore the partial taking, de�ruction, or loss in value is equal to or
<br />greazer than t� annauwt of che sums secured by this 5ecurity Insrivment immadiately b�fore the partial
<br />takin8. d�ion, or loss in value, �unleas Borrower and L,ender ot�hcrwisc agrec in writing, the sums
<br />secured by thia Security InsUw�nt ahall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fractivn; (a) the tatal aa�ount of the sums secure� ima�cdiately before the
<br />partial taldn$, d�stn�ion, or loas iu� value divided by (b) the fair market value of the Property
<br />immedistely before the Partial taking, d�struction, or loss in value. An bala�ce sha11 be �aid w Borrower.
<br />ce
<br />In the event vf a partial taking, destruction, or laas in valu� of e Property in whrch the fair mar)zet
<br />value of the �roperty imtnediately before the partial ta�Cing. destruaion, or loss in val� is lesa than the
<br />amount of the swns socured immediately before th� partial taking, despvction, or loas in value, unle�s
<br />Borrower and I,ender othervvise ag� in writing, tlae Miscellaneaus Proceeds shall be applied w thc suma
<br />secured bq this Sec�rrity lo�tn�t wliether or not the sunn� are then due.
<br />If the Propc�ty is aba�donod by Borrnwer� or if, after �otic� by L,endear to Horrower that the
<br />�$�8 �Y (as dcfuaed in the n�xt sentence) offcrs to make an awand to seule a claim for darmages,
<br />Borrower fails ta � to L�r within 3q ci�ys after the date the notice is given, L�der is aurhoritiad
<br />to collact and apply the Miaccllatreous Prooveds either ta restoration or repair af ti�s Piroperty or to the
<br />sutn� aecured by this Securiry Inst��ument, wh�her or not then due. "Opposing Party" means the third P�Y
<br />that awes Horrower Misccllaaenus Proceeds or the party against wham Borrower has a right of aaion in
<br />regard w Miaccllar�eous Proc�eds.
<br />Borrower shall be in default if auy action or pnooeaiing� whether civil or criminal, is begun that, in
<br />I.ender's judgrnent, cauld result in forfeiture of the P�+opeRy or other m�ateriai im�aiurment of [.ender's
<br />interest in the Prapexty or righta undBr this Security I�. Bornovver can curc auch a default and, if
<br />� ASKA - Single Family - F�rr�ls Mes/FnddM Mac UNIFClqM INSTRUMEN'T
<br />-61NE1 1oe� �J p.c• o w �s mn�au: Fvmn 3028 1/01
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