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<br />As a result of these agreements, Lender, 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 fronn (or might be characterized as) a portion of Borrower's payments for Mortgage Tnsurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreeznent
<br />provides that an affiliate of I.ender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance. " Further:
<br />(a) Any such agreements will not affect the amounts that Sorrawer has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Laan. Such agree�nents will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - iF any - with respect to the
<br />Mortgage Insurance under the Homeowners Pratection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to reqaest and abtain cancellation oF the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiurns that were unearned at the tirne of such cancellation or
<br />termin�atian.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneaus ProceEds are hereby
<br />assigned to and shall be paid to J_.ender.
<br />If the Praperty is darnaged, such Miscelianeaus Proceeds shall be applie� to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />Duxing such repair and restoration period, I.ender shall have the right to hold such Miscellaneaus Proceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender rnay pay for the
<br />repairs and restoration in a single disbursement or in a series of pz'ogress payments as the work is
<br />connpleted. Ur►less an agreement is rnade in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, I.ender sha11 not be required to pay Borrower any interest or earnings o:n such
<br />Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's secuxity would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Seeurity Instrwiaent,
<br />whether or not then due, with the excESS, if any, paid to Horrower. Such Miscellaneous �roceeds sha11 be
<br />applied in the order provided for in Section 2.
<br />Tn the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied ta the sums secured by this Security Jnstrument, 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 rnarket
<br />value of the Property immediately before the partia] taking, destruction, or loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agre� in writing, the surns
<br />secured by this Security Instrument shall be reduced by the amaunt of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a) the total amount of the sums secured imrnediately before the
<br />partia] taking, dest�uction, or lass 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 ta Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair xnarket
<br />value of the Property irnrnediately before th� partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured irnrnediately before the partial taking, destruction, or loss in value, unless
<br />Borrawer and �nder otherwise agree in writing, the Miscellaneaus Procee�ls shall be applied to the sums
<br />secured by this Security Jnst�wnent whether or not the surns are then due.
<br />If the Froperty is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as de�ned in the next sentence) offers to make a�n award to settle a claim for damages,
<br />$arrower fails to respond to Lender within 3Q days after the date the notice is given, Lender is autharized
<br />to collect azxd apply the Miscellaneous Proceeds either to restoration ar repair of the P�roperty or to the
<br />sums secured by this Security Instrurnent, whether or not then due. "Opposing Party" means the third party
<br />that owes Borrower Miscellaneous Proc�is or the party against whom Bonower has a right of action in
<br />regard to Miscellaneous Proceeds.
<br />Borrower sha11 be in default if any action or praceeding, whether civil or criminal, is begun that, in
<br />I.ender's judgment, could result in forfeiture of tJae Property or other material irnpainnent af I.ender's
<br />intexest in the Froperty or rights under this Security Instrument. Borrower can cure such a default a�nd, if
<br />�-6G(NE) l000sl.o�
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<br />�nitials:
<br />Page 9 of 15 Form 3028 7(O1
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