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� � _.. _.� � 4 � � � 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 opporlunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection sha11 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 on such Miscellaneous Proceeds, Lender shall not be required to pay Bonower any interest or eaznings 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 Bonower. Such Miscellaneous Proceeds sha11 be applied in the order provided for in 5ection 2. In the event of a total taking, destruction, or loss in value of the Property, 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. In the event of a partial taking, destruction, or loss in value of the Property in which the fair mazket value of the Properiy 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 Bonower and Lender otherwise agree in writing, the sums secured by this 5ecurity Instrument shall be reduced by the amou.nt of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair mazket 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 unmediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Bonower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this 5ecurity Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by I,ender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claun for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, I,ender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the tlurd party that owes Bonower Miscellaneous Proceeds or the party against whom Bonower has a right of action in regard to Miscellaneous Proceeds. �B�IS� — Single Family — Feonie Mae/FYeddte Mec i7NIFORM QISfRUMENT Form 3028 1/01 GCC- G3028-11 (09/Ol) (Page 11 of 19) �t� �