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�Di0Q9865
<br />As a resrilt of dicse agreements, Lender, any purchas�r af the Note, another insurer, any reinsnrer,
<br />any other entity, or any affliate of any of the foregoir►g, may receive (directly or indirecdy) amounts that
<br />aerive from (or might be characterixed as) a portion of Borrower's payments Ior Martgage Insurance, in
<br />exchange for st►aring or mndifying the mortgage ins�irer's risk, or reducing losses. If sucli agreement
<br />provides that an af�liate of Lender takes a share of d►e insurer's risk in exr.hange for a share of d►e
<br />premiums paid to the insurer, the arrange���ent is often termed "captive reirisurance." Fi►rther:
<br />(a) Any such agreernents will not affect the arnounts that Barrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of th� Loan. Such agareements will not increase the amount
<br />Borrower will owe for Mortgage Iusurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements wtll not affect the rights Borrower has - if any - wrth respect to the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
<br />may include the right to receive certain disclosures, to request and obtain cancellation of the
<br />Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
<br />refund of any Mortgage Insurance premiurns that were unearned at the time of such cancellation or
<br />termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellar►eous Proceeds are hereby
<br />assigned to and sf►all l�e paid to Lender.
<br />If the Prnperty is damaged, such Miscellaneous Proceeds shall be applied to restoraGan ar repair of
<br />die Property, if the restoration or repair is econoiYUCally feasible and Lender's ser..urity is not lessenecl.
<br />Drrring such repair and restoration period, Lender shall have die rigl�t to hold such Miscellaneous Proceeds
<br />until Lender has had an opportunity to inspect such I'roperty to ensure tJ�e work has been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaken prort�pdy. Lender may pay for the
<br />repairs and restoration in a sir�gle disbursement or in a series of progress payments as the work is
<br />couipleted. Unless an agreement is made in writing or Applicable Law requires interest ta be paid on such
<br />Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />Miscellaneous Frviceeds. If die restoration or repair is not econortiically feasible or Lender's security would
<br />be lessened, the Miscellaneous Proceeds shall 6e appliPd to the sums secured by this Security Instrument,
<br />whether or not tl�en due, with die excess, if any, paid to Borrower. 5uch Miscellaneous Prviceeds shall be
<br />applied in die order provided far in Section 2.
<br />In the event of a tatal taking, destriiction, ar loss in value of d►e PropeRy, the Miscellaneu�as
<br />Proceeds shall be applied to die sums secured by d�is Secur'rty Instrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In tlie event of a partial taking, destruction, or loss in value of lhe Prnperty in which the fair tnarket
<br />value of the Property i�iimediately before the partial taking, destruction, or loss in value is equal to or
<br />greater it�an the amount of d►e sums secured by Wis 5ecurity Ii►stniment iir�n�ediately before the partial
<br />taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the smns
<br />secured uy this Security Instnriuent shall be reduced by We amount of the Miscellanea�xs Proceeds
<br />multiplied by the following fracUon: (a) the total amount of d�e sums secured immediately before d►e
<br />partial taking, destnxGtion, or loss in valxie divided by (b) tlie fair market value of the Property
<br />irnmediately l�efore die partial taking, destn�ction, or loss in value. Any balance shall be �aid tn Borrower.
<br />In the event af a partial taking, destruction, or loss in value of the Property in which the fair market
<br />value of the Property iiYimediately before the partial taking, destniction, or loss in value is less d�an die
<br />amount �f the sums secured imitiediately before the partial taking, destruction, or loss in value, �ryiless
<br />Borrower ar�d Lender od�erwise agree in writing, die Miscellane�us Proceeds shall be applied to die sums
<br />secured by this Security Insh7rrt►ent whether or not We srims are ihen due.
<br />If Uie Property is abandoned by Borrower, or if, after notice by Lender to Borrpwer that the
<br />Opposing Party (as defined in the next se�►te�►ce) nffers to make an award to setde 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 Mis�ellaneous Proceeds either tn restotation or repair of the Property or to the
<br />sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party
<br />d�at owes Borrower Miscellaneous Froceeds or the party against whom Borrower has a right of action iti
<br />regard to Miscellaneo��s Proceeds.
<br />Borrower shall be in default if any action or pror.eeding, whether civil or criirunal, is begun that, in
<br />Lender's judgment, could residt in forfeihtre of U►e Property or other material impairment of Lender's
<br />interest in the 1'roperty or rights under this Security Instru¢nent. Borrower can cure such a default and, if
<br />acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be
<br />001122308972 [001122308972]
<br />� RASKA - Single family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WI7H 1�A�iE 5
<br />m -6A(N� (0870) Page 9 of 15 Initia�s: `� F01'171 3028 1/01
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