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�oiou9si3 If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property ta ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid an such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest pr earnings on such Miscellaneous Proceeds. If the restoration or repair is not econornically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this 5ecurity Instrurnent, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneoas Proceeds shall be applied in the order pravided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the surns secured by this Security Instrument, whether or nat then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destrucd�n, or loss in value of the Property in which the fair market value of the Property irnrnediately before the partial taking, destructian, or loss in value is equal to or greater than the ampunt of the sums secured by this Security Instrument immediately before the partial taking, destcuction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately befare the partial taking, destruction, or l�ss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial takin�, destruction, or loss in value of the Property in which the fair rnarket value af the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destructian, or loss in value, unless Barrower and I.,ender otherwise agree in writing, the Miscellaneous Proceeds shall be applied ta the sunns secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to rnake an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair af the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party khat owes Borrower Miscellaneous Proceeds or the party against whom $onower has a right of action in regard to Miscellaneous Proceeds. �S�►SKA — 5ingle Famlly -- Fannle M�dFreddie Mac UN[FORM INSTItUI�ffiNT Fam 3 GCC- G3028-I1 (09/Ol) (Page il af19) Iaitial�.✓