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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 af any of the foregoing, may receive (directly �r indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Barrower's payments for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, ar r�ducing losses. If such agreement
<br />provides that an af�'iliate of Lender takcs a share of the insurer's risk in exchange for a share of the
<br />premiums paid ta the insurer, the arrangement is often tertned "captive reinsurance." Further;
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed ta pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such a�reements will not increase the amount
<br />Borrower will owe for Mortgage Insurance, and the� will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the r�ghts Borrower has - if any - with respect to the
<br />Mortgage Insurance under the Homeowners Protectian Act af 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellatian of the
<br />Mortg�ge Insurance, to have the Mortgage Insurance terminated autornatically, and/or to receive a
<br />refund of �ny Mortgage Insurance premiums that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
<br />assigned ta and shall be paid to Lender.
<br />If the Pr�perty is damaged, such Miscellan�c�us Proceeds shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is ecUnomically feasible and Lender's security is not lessened.
<br />During such repair and restoration pt;riod, Lender shall have the right to hold such Miscellan�c�us Proceeds
<br />until Lender has had an apportunity to inspect such Property to ensure the work has becn completed to
<br />I,ender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
<br />repairs and restoration in a single disbursement or in a series of prqgress payments as the wark is
<br />completed. Unless an a�reement is made in writin� or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required ta pay Borrower any interest or earnings on such
<br />MiSCellaneous Proceeds. If the restoration or repair is not ecanomically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrumerat,
<br />whether or not th�n due, with the excess, if any, paid to Borrower. Such Misc�llaneous Proceeds shall be
<br />applied in the order prcrvided for in 5ection 2.
<br />In the event of a total taking, destruction, ar loss in value of the Property, the Miscellaneous
<br />Proceeds shall be applied to the sums securcd by this 5ecurity Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the evtnt of a partial taking, destructiaia, or loss in value of the Property in which the fair market
<br />value of the Property immediately before th� p�u taking, destruction, or loss in value is eyual tc� or
<br />greater than the amount of the sums secured by this Security Instrument immediately before the paxtial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agrec in writing, the sums
<br />secured by this Security Instrument shall be reduced by the aznount of the Miscellaneous Proceeds
<br />multiplied by the fallowing fraction: (a) thc total arnount of the sums secured immediately bcfore the
<br />partial taking, destruction, or loss in value divided by (b) the fair market value af the Property
<br />immediately before the partial takin�, destruction, or loss in value. Any balance shall bc �aid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of thc Praperty in which the fair market
<br />value of th� Property immediately before the partial taking, destruction, or loss in value is less tlian the
<br />amount of the sums secured itrnnediately before the partial taking, destruction, ar lass in value, unless
<br />Borrc�wer and Lender otherwise agr�c: in writing, the Misc�llancous Proceeds shall be applicd to the sums
<br />secur�d by this Security Instrument whether or not the sums are then due.
<br />If thr: Property is abandoned by Barrower, or if, after notice by Lender to Borrower that the
<br />Opposing Party (as defined in tlxe next sentence) offers ta make an award to settle a claim for damages,
<br />Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
<br />to collect and apply the Miscellaneaus Proceeds either to rest<�ration or repair of the Praperty or to the
<br />sums secured by this Security Instrument, whether or not then due, "Opposing Party" means the third party
<br />that pwes Borrower Miscellaneaus Prcaceeds or the party against whom Borrower has a right of action in
<br />regard to Miscellaneous Froceeds,
<br />Borrower shall be in default if any actic�n or proceeding, whc;ther civil or criminal, is b��;un that, in
<br />Lender's judgment, could result in forfeiture of the Pr�perty ar other material impairment of Lender's
<br />'rnterest in thc; Property or rights under this Security Instrument. Sorrower can cure such a d�:fault and, if
<br />�-s�N�� �0407).02
<br />P�a 9 of 15
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<br />E�.�����-Y�-�YI•:
<br />Form 3028 1/01
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