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<br />As a result of these agreements, L.ender, �ty purchaser of the Note, anottier insurer, any reinsurer,
<br />any other entity, nr any affiliate of any of the foregoing, may receivc (directly or indirectly) amounts that
<br />derivo from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
<br />exchangc for sharing or modifying the m�ortgage insurer's risk, or reducing losses. If such agrcement
<br />provides that an aff'iliate of Let�der takes a share of thc insurcr's risk in exchange for a share of the
<br />premiums paid to thc iosurer, thc arrangement is often terrned "captive rcinsurance." F�rkher:
<br />(a) Any such agrcements will not affect the �mounts that Borrower has agi�eed to ps� for
<br />Mortg�e Insurance, or suy other tertns ot khe Loan. Such agrcements will not increase the amount
<br />Borrower will owe for Martgage Insurance, and the� will not entitle Barrower to aey refund.
<br />(b) Any such agr�ements will not afPect the righte Sorrower has - if any - with respect to the
<br />Mortgage Insurauce under the Homeowners Prot.ection Act of 199$ or any other law. TheBe rights
<br />may include the right ta receive certain disclosures, to request and obtain cancellatian af the
<br />Mortg�e L�surance, to have the Mortgage Insurencc te�riminated autamaticeUy, and/or to receive a
<br />refund of auy Mortga�;e Ltsurance premiums that were unearned at the time of such cancellation or
<br />terminakion.
<br />11. Aa�ignment oi Miscellaneous Pro�eeds; Forfeiture. A,11 Miscellaneous Proc�eeds are hereby
<br />assigrled to and shall be paid to Lender.
<br />If the Properiy is damaged, such Miscellaneous Proceeds shall be applied to restoration or repalr of
<br />the Property, if the rostoratinn or repair is ecanomically feasible and Lenrler's security is not lessened.
<br />During such repair and restoration period, Lender shall hav� thc right to hald such Miscellaneous Procceds
<br />until Lender has had an apportunity to inspect such Property to enswre the work t�as been completed to
<br />Lender's satisfaction, provided that such inspection shall be undertaktin pramptly. T.onder may pay for the
<br />rcpairs and restoration in a single disburscmcnt or in a series af progress payments as the work is
<br />campleted. Uriless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneous Proceeds, I,ender s�a11 npt be required to pay aorrvwer any interest or earnings on such
<br />Miscellaneous Proc.eeds. If the restoration or repair is not ewnomically feasible or Ixnder's sxu.rity would
<br />be lessened, the Misceilaneous Prnceeds shall be applied to the sums secured by this Security Instrument,
<br />whekher or not then duc, with the excess, if any, paid to Borrawer. S�ch Miscellaneous Proceeds shall be
<br />applicd in tho order provided for in Section 2.
<br />In the event of a total t�king, destruction, or loss in value af the Praperty, the Miscellanenus
<br />Proceeds shall be applied to the sums secured by this Security Instrument, whether or not thcn due, with
<br />the exccss, if aiuy, paid to Borrowcr.
<br />In the event of a partial taking, destruction, or lass in value of the Property in which the fair market
<br />value of the Property immediately before the partial taking� desWction. or loss in value is equal to or
<br />greater than the amount af the sums secured by this Security Instrument immediately before the partial
<br />taking, destruction, or loss in valuc, unless Br�rrower and Lender othcrwise agree in writing, the sums
<br />secvred by thi�s Security Instrumen,t shall be reduced by the amount of the Miscellaneous Proceeds
<br />multiplied by the following fraction: (a} the total amount of thc sums secured immediately before the
<br />partial taking, destruction, or loss in value divided by (b) the fa,ir market value of the Property
<br />immediately bcfore khe partial takimg, destructian, or loss in vxlue. Any balance shall be�aid to Borrower.
<br />In the cvent of a partial .taking, destxuction, pr loss in value of the Praperty in which the fair market
<br />value of the Properiy immediately beforc thc partial takin�g, destruction, or loss in value is lcss than the
<br />amount of the sums secured immediately bcfore the partial taking, destruction, or loss in value, unless
<br />Borrower and Lendcr otherwise agree in writing, the Miscellaneous Proceeds shall bc applicd to the sums
<br />secured by this Security Instrurment whether ar not the sums are then due.
<br />If the Pmpe;rty is abandoncd by Borrower, or if, after notice by Lender to Borrawer that the
<br />Opposing Party (as dcfined in the next sentence) offers to makc an award to settle a claim for damagcs,
<br />Borrowcr fails to rospond to Lender within 30 days after the date the notice is given, Lcnder is authorized
<br />to caU.ect a� apply thc Miscellaneous Prvcccds cither to resWration 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 />that owes Sornower Miscellaneous Procceds or the party against whom Borrower has a right of action in
<br />regard w Miscellancous Prviceeds.
<br />Borrower shall bc in default if any action or procceding, whether civil or criminal, is begun that, in
<br />Lender's judgment, wuld result in forfeiture of thc Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
<br />accelcration has oceurred, reinstate as provided in Section 19, by causing the action or praceeding to be
<br />2300019749 •� D Y6ANL
<br />N�BR►5KA - 5ingle Family - Fannls Masl�reddls Mac UNIFORM INSTRUMENT WITH M�S �
<br />�$A(NE�10810) Paqe 9 oT 15 Initial�: ��j Fami 3028 1/01
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