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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 foregoin�, may receive (directly or indirectly) amounts that
<br />derive fram (or might be characterized as) a portion of Barrower's payments for Mortgage Insurance, in
<br />exchange for sharing ar modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />pravides that an affiliatc of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to tlie insurer, the arrangement is aften termed "captive reinsurance." Further;
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
<br />Mort�age Insurance, or any other terms of the Loan. Such agreements will not increase the amounk
<br />Borrower will owe for Mortgage Insurance, and the� will not entitle Barrower to any refund.
<br />(b) Any sueh agreements will not affect the rights Borrower has - if any - with respeet to the
<br />Mortga�e lnsurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, ta request apd obtain cancellation of the
<br />Martgage Insurance, to have the Martgage Insurance terminated automatically, and/or ta receive a
<br />refund of any Mortgage Insurance premiums that were unearned at the tiroe of such eancellation or
<br />termination.
<br />11. Assignment of 1Vliseellaneous Proceeds; Forfeiture. All Miscellaneous Procceds are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellanc:ous Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economicdlly feasible and Lender's security is not lessened.
<br />During such repair and restoration periad, Lender shall have the right to hold such Miscellaneaus Praceeds
<br />until Lender has had an opportunity to inspect such Property to ensure the work has becn cc.�mpl�ted to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay f��r the
<br />repairs aa�d restoration in a single disbursement or in a series c�f pra�;ress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lcnder shall not be required to pay Borrower any interest or �arnings an such
<br />Miscellaneous Procecds. Ifthe restoration or repair is not economically feasible or Lend�r's security would
<br />be lessened, the Miscellaneous Procceds shall }ae applied to the sums secured by this Security Instrument,
<br />whether or not then duc, with thE excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
<br />a.pplied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, ar lass in value of the Property, the Miscellaneous
<br />Proceeds shall bc applied to the sums secured by this Security instrumc,•nt, 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 market
<br />value of the Property immediately before the partial taking, destruction, or loss in value is equal ta ar
<br />grcater than the amount of the sums secured by this Security instrum�nt immediately before the partial
<br />t�IClll�' destruetian, or loss in value, unless Borrower and Lenc��r c�th�rwise agree in writing, the sums
<br />secured by this Security Instrumcnt shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the follawing fraction; (a) the total amount of the sums securcd immediat�ly b�far� the
<br />partial takin�;, destruc:tion, or loss in value divided by (b) the fair market valuc of thc; Property
<br />immediately before the partial taking, destructian, or loss in value. Any balance shall be �aid to $orrower.
<br />In the �vent af a partial taking, destruction, or loss in value of the Prc�perty in whieh the fair market
<br />value of the Property immediately before the partial takin�, destaructiUn, or loss in value is less than the
<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Barrower and Lender atherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br />secured by this 5ecurity Instrumeot whether or nat tlie sums are then due.
<br />If the Property is abaa�doned by �orrawer, ar if, after notice by Lender to $orrower that the
<br />Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender witlain 30 days aft�r the date the natice is given, Lender is authorized
<br />to collect and apply the Miscellaneaus Pr�cceds either to restoration or repair of the Property or to the
<br />sums secured by this 5ecurity Instrument, whether or not then due. "Opposin� Party" rneans the third party
<br />that owes Borrower Miscellaneous Praceeds or the party against whom Borrower has a right of action in
<br />regard to Misccllaneous Proceeds.
<br />Borrower shall be in default if any action or proceeding, whether civii or criminal, is bcgun that, in
<br />Lender's judgment, cauld result in forfeiture of the Property or other material impairment of Lender's
<br />i�itcrest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />�$ 1117.056955
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