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<br />As a result of tltese agrecmcnts, I,endc;r, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be charactcrized as) a pprtion of Borrawer's payments for Mortgage Insurance, in
<br />exchange for sharing ar modifying the martgage insur�r's risk, or rcducing losses. If such agreement
<br />provides that an af�liate: �af Lcnder take:s a shar� of the insurer's risk in cxchan�e for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreemenks will not affeck khe 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 far Mortgage Insurance, and they will nat entitle Borrawer to any refund.
<br />(b) Any such agreements will not af'fect the r�ghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Pratection Act af 1998 or any ather law. These rights
<br />may include the right to receive certain disclosures, to request and obtain eancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mort�a�e Insurance premiums that were unearned at the time of such cancellation or
<br />terminatian.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender.
<br />lf the Property is damaged, such Miscellaneous Proceeds shall be applied ta restoratian or r��air of
<br />the I'roperty, if the restoration or repair is economically feasible and Lender's security is nat l�ssencd.
<br />Durin�; such repair and restaration periad, Lender shall have the right to hold such Miscellaneous Proceeds
<br />until Lender has had an appartunity ta inspect such Property to ensure the work has been completed to
<br />Lendc:r's satisfaction, provided tliat such inspcction shall be undertaken pramptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of progress payments as the wark is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on sucli
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds, If the restoration c�r rcpair is not economically feasible or Lender's security would
<br />be lessened, the Miscellaneous I'roceeds shall be applied ta the sums secured hy this S�;curity Instrument,
<br />whether or not then due, with the excess, if any, paid to Barrawer. Such Miscellaneous Proceeds shall be
<br />applied in the order provided for in Section 2,
<br />In the event of a total taking, destruction, ar loss in value of the Property, the Miscellaneous
<br />Proceeds sI1a11 be applied to the sums secured by this 5ecurity lnstrument, whether ar not the►i due, with
<br />the excess, if any, paid to Borrower.
<br />In thc event of a partial taking, destruction, or loss in value of the Property in which the fair mark�t
<br />valuc of the Property 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 Instrurnent irnrnediatcly befare the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender athc:rwise agre:c in writin�, the sums
<br />secured by t1115 Security I��strument shall be reduced by the amount of the Miscellzneous Proceeds
<br />multiplied hy the fc>llc>win�; fractic�n: (a) the total amount of the sums secured immediately before the
<br />partial taking, destructic>n, c�r loss in value divided by (b) the fair market value of the Property
<br />immediately before the partial taking, destruction, or loss in value. Any balance shall be �aid to Borrower.
<br />In thc event of a partial taking, destruction, or loss in value of tlle Property in which the fair market
<br />value af the Property immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately before thc partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this Security Instrument whether or nat the sums are then due.
<br />lf the Froperty is abandoned by Borrower, or if, after nvticc: by Lender to Borrower that the
<br />Upposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails ta respond to L�nder witliin 3� days after the date the notice is given, L,ender is authorized
<br />to collect and apply the Miscellaneous Praceeds eithcr to restoration or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Oppasing Party" medns the third party
<br />that owes Borrower Miscellaneaus Praceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or praceedin�, whether civil or criminal, is begun that, in
<br />Lender's judgment, could result in forfciture c>f the Property or other material impairment pf Lendcr's
<br />interest in the Property or rights under this Security Instrument. Barrower can cure such a default and, if
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<br />�-fi(NE) (Oap7).oz Pa�e 9 of 15 � Form 3028 1/01
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