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Zoloo90�9
<br />As a result of these agreemetxt�, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any ai�iliate of �ny of the foregoing, may receive (d.irectly or indirectly) amaunts that
<br />derive from (or might be characterizad as) a portion of Borrower's payrnents for Mortgage Insurance, in
<br />exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
<br />provides that an �liate of Lender takes a share of the insurer's risk in eacchange for a share of the
<br />premiums paid to the insurer, the arcangement is often termed "captive rcinsurance." Further:
<br />(a) Any such agreements will not affect the au�ounts that Soc7rower has agreed to �y for
<br />Mortgage Insurance, or any oWer terms of the Laaa. Such agree�uents will not increase the amount
<br />Borrower wlll owe for Mortgage In�urance amd they w1ll not entide Borro�ver to any refund. �
<br />(b) AnY such agreements wlll not af'�ect the rights Bot�rawer has - i� any - with respect to the
<br />Mortgage Insurance uader the Homeowmers Protection Act of 1998 ar any other law. Theae rlghts
<br />may include the rlght to receive certain clisclosures, to request and obtsin canaell$t[an of the
<br />Mortgage Insuranoe, to have the Mortgage Insurence terminated autc►madcally, and/or to r�ve a
<br />refund of any Mortgage Insuranoe p�nemiums thet were uneara,ed at t�e dme af such ca�ncellation or
<br />termination. '
<br />lX. Asslgqan�t of Mtacellaneous Praceeds; ForP�iiture. All Miscellaneous Proceeds are hereby
<br />assigned to and shall be paid to Lender,
<br />Tf the F'roperty is damaged, such Miscellaneous Proceeds shall be applied tn restoration or repair of
<br />the Property, if the restoration or repair is economically feasible and Lender's security is nat lessaned.
<br />During such repair and restoration period, Lender shall havc the right to hold such Miscellaneous Procee�s
<br />uintil Lender has had an nppnrtunity ta inspect such Property to ensure the work has been c:ampleted to
<br />Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender rnay pay for the
<br />repairs and cestoration in a single disbursement or in a series of pmgress payments as the work is
<br />wmpleted. Unless an agreement ia made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, Lender shall not be requir� to pay Borrower any iit�Cerest or earnings on such
<br />Miscellaneous Frocoeds. If the reatoration or repair is not economically feasible or Lender's security would
<br />bc lessened, the Miscellaneous Proceeda ahall be applie�i to the sums �racured by this Security Instrument,
<br />whethcr or not then due, with the ezcess, if any, paid to Borrower. Such Miscellaneaus Proceeds shall be
<br />applied in the order provided for in Section 2.
<br />In the event qf � wtal taking, desCruction, or lass in val� of Che Property, the Miscellaneous
<br />Proceeds sha11 be applied W the sunqa securcd by this Securiry Instcument, whether or not then due, with
<br />rhe excess, if any. Paid to &�rrower.
<br />In the event of a partial takin$, destructinn, or loss in value of the Pmperty in which the fair rnarket
<br />value of the Property immediately before the partial taking, destruction, or loss in value is cqual to or
<br />grcatcr than the arnount af the sunn.s secured by ttus Security Instnu�n�nt immediately befare the partial
<br />taking, destruction, or loss in value, unless Borrower and L.ender vtherwise agree in writing, the swns
<br />secured by this 5ecurity Instn�ment shall be reduced by the amount of the Misoellat�ous Procceds
<br />multiplied by the following fraction: (a) the Wtal amount of the aurns secu,ticd immediately before the
<br />partial taking, c�estructian, or loss in value divided by (b) the fair market value of the Property
<br />innmediately before the partial taldng, destruction, or loss in value. My balance shall be paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in valuc of the Property in wluch the fair marlcet
<br />value of the Praperty immediately before the partial taking, destruction, or loss in value is less than the
<br />amount of the sums secured immediately befare the partial taking, destruction, or loss in value, uinless
<br />Borrower and I.ender atherwise agree in writing, the Miscellaneaus ProceEds ahall be applied to the sums
<br />secuted by this Security Instru�ent whether or not the swns are then due.
<br />If the Property is abandoned by Sorrower, or if, after notice by T.ender to Horrower that the
<br />Opposing Party (as defined in the next sentence) offers to make atx award to settle a claim for datnag�s,
<br />Borrower fails to respond to I.ender within 30 days after the date the n,otice is given; I.ender is authariaed
<br />to colle�t and apply thc Miscella�ous Proceeds either to restoraticrn or repair of the Property or to the
<br />sums secured by this Sccurity Insrnmient, whether or not then due. "OPPosing Party" means the third P�Y
<br />that owes Bornower Miscellaneous Proceeds or the party against whom Barrower has a cight of action in
<br />regard to Miscellaneous Proceeda.
<br />Borrower shall be in default if a�py action or �roceeding, whether civil or criminat, is begun that, in
<br />I..ender's judgment, couid result in forfeiture of the Property or other mate7ial impairmex�t of Lender's
<br />interest in the Property or rights under this Security Instrument. Horrower can cure suct� a default a�d, if
<br />� NE RASKq - Single Family - FsnNe Maa/Fraddia Mac UNIFORM INSTRUMENT �
<br />• BINE) 10811) Pape 8 of 15 inn� • ' Form 30�8 7/07
<br />• • �
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