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�►•II][iI1�.�SC:
<br />insurancc and Borrower was required to make separately designated payments toward the pt'etniuxns for Mortgage Insurance,
<br />Borrower shall paythe premiums required to obtain coverage substantially oquivalent to the Mortgage Insurancepreviously
<br />, in effect, at a cost substantially equivalent to the cnst tn Borrower of the Mortgage Insurance prev�ously in e�'ect, from an
<br />alternate m�rtgage insurer selectcd by x.ender. If substantially cquivalent Mortgage Itisurance coverage is not available,
<br />Borrrower shall continue to_pay to Lender the amount of the separately designated payments that were due when the insurance
<br />coverage ceased to be in effect Lender will accept, use and retain th�se payments as a non-refundable loss xeserve in lieu of
<br />Mortgage Insurance. Such loss reserve shall be non-refundable, notwit}istand�ng the fact that tha Laan is ultimatelypaid in
<br />full, and Lender shall not be rec�uired ta payBorrower anyintexest or earnin� on such loss reserve. Lender can no longer
<br />require loss xeser�ve payments if Mortgage Insurance coverage(in the amount and for the period that L,ender requires)
<br />prov►ded by an insurer selected by r.cr►der again becornes available, is obtained, and Lexider requires separately desi�nated
<br />payments towa�rd the premiums for Mortgage Insurance. If Lender requirred Mortgage Insurance as a condiixon ofma�a�ng the
<br />Z.oan and Bdrrower was requixed to make separately designated payments toward tha premiutns far Mortgage Insurance,
<br />Borrower shall pay the prenniums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss
<br />reserve, until Lender's rec�uirement for Mort�age Tnsurance ends in accordance with any written agreement between
<br />Borrower and Lcnder providmg �for such tern�nahon ox until ter,mination is required by Applicable Law, Nothing in this
<br />Section 10 affects Borrower's obligation tn pay interest at the rate pmvided in the Note.
<br />Mprtgage Insurance reimburses I.ender (or any entity that purchases the Note) for c�rtain losses it may incur if
<br />Sorrower does not repay the Loan as agteed. Borrower rs not a party to the Mortgage Insurance.
<br />Mort age Znsurers evaluate their tatal risk on all such insurance in force from tirne to time, and may enter into
<br />agreements wi� other parties that share or modrfy their r�sk, or reduce losses. These agreements are on tet�ms and conditions
<br />that axe satisfactory to the mortgage insurer and the other parl.y (rnr paxties) to these agrcements. These agrenments may
<br />require thc mortgage insurer to make payments using any source oFfunds that the mortgage insurer may have available
<br />(which may include funds obtained from Mortgage Insurance premiurns).
<br />As a result ofthese apreements, Lender, anypurchaser nfthe note, another insurer anyreinsu�er, any other entity,
<br />or affiliate of any of the forego�ng, may receive (directly or indirectly) arnounts that derive tiom �or rnight be characterized
<br />as) a portion ofBorrower's paymonts fot Mortgage Insurancc, in exchange for sharing ar modifjnng thc xnortga$e insurer's
<br />xisk, or reducing losses. If such agreement proinded that an affiliate ofLender takes a share ofthe insurer's risk m exchange
<br />for a share of the premiums paid to the insurtr, the arrangement is often termecl "captive reinsurance." Further:
<br />(a) Any such agreements rv�ll nnt affect the amounts thxt Borrower has agreed to pay for Mortgage
<br />Tnsurance, or any other tert►xs of the Loan, $uch agreements w[II not fncrease the amount Borrower w111 owe for
<br />Mortga�e IusurAnce, and they will not entitle Borrower to any refund.
<br />(b) Any �uch agreements will not affect trie rights Borrower has — if any -- with respect to the Mortgage
<br />Insnrance under the Homeowuers Frotection Act of 1998 or any other larv. These rights may include the right to
<br />receive cerkal�n disclosnres, to rsquest and obtain cancellation of the Mowtgage Insurance, to have the Mortgage
<br />Tnsurapce terminated automatically, and/or to receive � refund of any Mortgage Insurance premiums that were
<br />unearned at the time nf such cancellation ar terminatian.
<br />11. Assignment of Miscellaneous �roceeds; Forfeiture. All Miscellaneous Proceeds are herebyassigned to and
<br />shall be paid to Lender.
<br />S.fthe Proportyis damaged, such Miscellaneous Procceds shall be applied to restoration or repair ofthe Property, if
<br />the restoration or zepa�r �s economically feasible and Lender's security �s not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such Miscellaneous Praceec�s until T.e�nder has had an opportumty to inspect such
<br />, Property to ensnre the work has been completed tn �nder's satisfac6on, provided that such inspection shall be undertaken
<br />promptly. Lender maypay for the repairs and restoration in a single disbursement or in a series ofprogress payments as the
<br />work is completed, Unless an agceement is rnade in writing or Applica.ble Iaw requixes interest to be paid on such
<br />Miscellancous Proceeds, Lender shall not be rcquired to pay Borrovvez any interest or eannings on such Miscellaneous
<br />Proceeds. If the restoration or repair is not economxcally feasible or Lender's security would be lesscned, the Miscellaneous
<br />Praceeds shall be a�plied to the sums secured by this Security Instrument, whether or not then dne, with the excess, if any,
<br />paid to Borrower. uch Miscellaneous Proceeds shall be applied in the arder provided for in Section 2.
<br />In Cht event of a total taking, destructiqn, pr loss in value of the Property, tha Maiscellaneous Proceeds shall be
<br />applied to the snms secured by this Security Tnstrurncnt, whether or not then due, v�nth the excess, if any, paid to Borrower.
<br />In the event of a partial talaing, destruction, or loss in value of the Properly in which the fair rnarket value of the
<br />Property immediatelybefore the partial talcing, destruction, or lass in value is equa.l to orgre ater than the arnount ofthe sums
<br />secured bythis Security Instrurnent immediatelybefare the partisl taldng, destruction pr loss in value, unless Borrower and
<br />Lendcr otherwise agree �n writing, the sums secured by this Security Instrument s�iall be reduced by the amount of the
<br />Miscellaneous �'roceeds multiplied by the following fraction: (a) t,he total amount o�t1�e sums secured immediatelybefiore the
<br />partial taking, destruc�on, or loss in value divided by (b) the fair rmarket value ofthe Propertyimmediatelybefore the partial
<br />taking, destruction, or loss in value. Anybalance shall be paid to Borrower. •
<br />Tn the event of a partial talang, destruction, or loss in value of thc �eriy in which the fair rnarket va.lue of the
<br />Property immediately beforc the �artial taldn,�, destruction, or loss in valuc is ess than tho amount of the sums secured
<br />immediatelybefore the partial talang, desixuchan,. or loss in value, unless Borrower and Lender nthecvvise a�ee in writing,
<br />the Miscellaneous Proceeds sh�ll be applied to thc suxns secured by this Security Znstrument whether or not the surns arc then
<br />due.
<br />If tha �roperty is abandoned by Borrower, ar i� af�r notice by Lender to Borrower that the Opposing Party (as
<br />deSned in the next sentencc) o�'ers to rnake an award to settla a clairn for danaages, Borrower �aails to respond to Lexider
<br />within 30 days after the date the notice is given, Lender is suthorixed to callect and apply the Miscellaneous Proceeds either
<br />to restoration or repair of the Property or to the sums secured by this 3ecurity Ynstrumen� whcther or not then due.
<br />"Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whorn Borrower
<br />has a right of acdon in regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or proce�ling, whether civil or crirrrinal, is begun that, in Lender's
<br />judgment, could result in forfeiturc of the Propexty or other rnaterial im�airment of T.ender's intcrest in the Prnperty or rights
<br />under this Sccurity Ynstrurncnt. Borrower can cure such a default and, if acceleration has occurred, reinstatc as provided in
<br />Section 19, by causing the action or proceeding to be disrnissed with a ruling that, in Lender's jud�men� �recludes forEeitur�
<br />of the Property or other rnaterial impairment of Lender's interest in the Property or rights undcr this SecuntyT�s�ment Tht
<br />procceds of any award oar claim for damages that are attributablc to the impairment of X.ender's interest in the Property are
<br />hereby assi�ned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoradon ar repair of the Property shall be applied in tha order
<br />provided for in Section 2.
<br />12. Borrower Not Released; Forbearance Sy Lender Not a Waiver. Extension of the time for payment or
<br />modification of arnortization oftht sums secured by this Security Instnuneent gran�d byJ..ender to Barrower or any Successor
<br />in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in �nterest of Borrawer.
<br />Lender shall not be required to commence proceedings against any Successor in rnterest of Borrower ar to refuse w extend
<br />time for payrnent or otherwisc modify amorhzation of the sums secured by this Security Instrument by reason ofanydeinand
<br />rnade by the original Borrower or any Successors in Interest ofBorrower. Any fnrbearance by Lender in exercising arryright
<br />or rem,edy includ�ng, without limitai�on, Lender's acceptance of payments Erom third persons, entities or 5uccessors 1n
<br />Interest of Borrowe7r ar in
<br />1 acnounts less than the amvunt then due, shall not be�a waiver of oz preclude the exercisc of any right or remedy.
<br />NESRA.SKA�ingle Family Fxnnle Mae/Freddie Mac UNYFORM IIVSTRiiMENT
<br />12439.CV (1/OS) 200U68S8
<br />�EZ�s� Form 3028 1/01 (page S of 8 pages)
<br />Creative �hinldng, Inc..
<br />co'to(oaone3o�
<br />NV
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