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<br />the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss
<br />:rve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement
<br />ween Bonower and Lender providing for such termination or until termination is required by Applicable
<br />v. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the No'te.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certa,in losses it may
<br />.►r if Borrower does not repay the Loan as agreed. Bonower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter
<br />� agreements with other parties that share or modify their risk, or reduce losses. These agreements are on
<br />ns and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these
<br />�ements. These agreements may require the mortgage insurer to make payments using any source of funds
<br />; the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
<br />ier entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
<br />im (or might be chazacterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for
<br />aring or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an
<br />�iliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the
<br />�urer, the arrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />surance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will
<br />ie for Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
<br />ortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may
<br />elude the right to receive certain disclosures, to request and obtain cancellation of the Mortgage
<br />surance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any
<br />ortgage Insurance premiums that were unearned at the time of such cancellation or termination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned
<br />and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
<br />operty, if the restoration or repair is economically feasible and Lender's security is not lessened. During
<br />ch repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br />nder has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
<br />;isfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br />�toration in a single disbursement or in a series of progress payments as the work is completed. Unless an
<br />reement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br />nder shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />�toration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br />oceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />cess, if any, paid to Bonower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br />ction 2.
<br />In the event of a total taking, destruction, or loss in value of the Properiy, the Miscellaneous Proceeds
<br />all be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />y, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
<br />the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than
<br />� amount of the sums secured by this Security Instrument immediately before the partial taking, destruction,
<br />loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
<br />strument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:
<br />i the total amount of the sums secured immediately before the partial talcing, destruction, or loss in value
<br />✓ided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss
<br />value. Any balance shall be paid to Bonower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
<br />the Properiy immediately before the partial taking, destruction, or loss in value is less than the amount of
<br />� sums secured immediately before the partial taking, destruction, or loss in value, unless Bonower and
<br />nder otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this
<br />RASKA- Single Family - FannieMae/FreddieMac UNIFORM INSTRUMENT
<br />� 30281/01 -
<br />Forms Inc. (800) 446-3555
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