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2011UO284 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 I.ender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until I,ender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfactian, pravided that such inspectian shall be undertaken promptly. Lender may pay for the xepairs 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 on such Miscellaneous Proceeds, Lender shall not be required ta pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, th� Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial talcing, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrawer and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the a�mount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured imrnediately before the partial taking, destruction, or loss 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 taking, destruction, or loss in value of the Property in which the fair market value of 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 takin�, destruction, or loss in value, unless Borrower and L.ender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the surns secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after natice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers ta make an award to settle a claim for darnages, 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 restaratian or repair of the Property or to the sums secured by this Security Instrument, whether or nvt then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Barrower has a right of action in regard to Miscellaneous Proceeds. �B�S� -- Single Paznily -- Frnnie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 �`� . GCC- G3028-11 (09/Ol) (Page Il of 19) Initials: