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20i108355
<br />As a result of the.se agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
<br />any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
<br />derive from (or might be characterized as) a portion of Boirower's paym�ts for Mortgage Insiu�ance, in
<br />�schange for sharing or modifying the mortgage insurer' s risk, ar redwcing losses. If such agreement
<br />provides that an affiliate of Leuder takes a share of the insurer' s risk in �change far a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive re�inssurance." Further:
<br />(a) Any snch agreements w3ll aot affect the amonnts that Borrower has agreed to pay for
<br />Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amaunt
<br />Borrower will owe for Mortgage Insurance, and the� will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the nghts Borrower has - if any - with resgect te the
<br />Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. The� rights
<br />may �acZude the right ta receive certain disclosures, to request and obtain cancellstioa of the
<br />i Mortgage Insurance, to have the Mortgage Insuraace tem�inated antomatically, and/or to receive a
<br />refund of �ny Mortgage Iasurance premiums that were nnearned at the tame of such canceliation or
<br />i termination.
<br />Il. Assignment of Miscellaneons Proceeds; Forfeiture. All Miscellaneaus Proc�cls are hereby
<br />assigned to and shall be paid to Lender.
<br />If the Property is damaged, such Miscellaneous Proceeiis shall be applied to restoration or repair of
<br />the Property, if the restoration or repair is economically feasible mnd Lender' s sectuity is not lesse,ned.
<br />During such repair and restoration period, LenBer shall have the right to hold such Misceltan�us Proceeds
<br />until Lender has had an opporlunity to inspect such Property to ensure the work has been completed to
<br />I,ender' s satisfa��ckkion, provideci that such inspection shall be undertaken promptly. Lender maY P�Y for the
<br />repairs and restoration in a single disbutsement or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />Miscellaneaus Proceeds, Lender shall not be requires� to pay Borrower any interest or earnings on such
<br />Miscellaneous Proceeds, If the restaration or repair is not economically feasible ar Lender's security would
<br />be lesse�ed, the Miscellaneous Proceeds shall be appliefl to the sams secured by this Security Instrummt,
<br />whether or not then due, with the eascess, if any, paid to Borrower. Such Miscellaneous Proceecis shalt be
<br />applied in the order provided far in Section 2.
<br />In the event of a total taking, cleshuction, or loss in value of the Property, the Miscell�eous
<br />Proceeds shall be applieri to the sums secured by th2s Security Inslrument, whether or not then due, with
<br />the excess, if any, paid to Borrower.
<br />In the event of a partial taking, destruction, or loss in value of the Properiy in which the fair maa'ket
<br />vaiue of the Property immediately befare the paztial taldng, deshuction, ar loss in value is equal to or
<br />greater than the amount of the sums secured by this Security Instrument irnmediately befare the partial
<br />taking, destruction, or loss in value, unless Borrower and I.ender otherwise agree in writing, the sutns
<br />secured by this Security Instrument sball be re�iuced by the aYnount of the Miscellaneous Proceeds
<br />multiplied by the foltowing fraction: (a) the total amount of the sums securad immediately before the
<br />partiai taking, destruckion, or loss in value divide� by (b) the fair market value of the Property
<br />immediately before the pariial taking, destruction, or loss in value. Anny balance shall be �aid to Boaower.
<br />In the event of a partial taking, destruction, or loss in value of the Property in wluch the fair market
<br />value of the Properry immediately before the partial taking, desbruction, or loss in value is less than the
<br />a�unt of the sums secured immediately befoxe the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Procee�is shatl be applied to the sums
<br />secured by this Sacurity Ir�strument whether or not the sums are th� due.
<br />If the Property is abandone� by Borrower, or if, after notice by Lender to Bonowex that the
<br />Opposing Party (as defined in the next sentence) offers to make an awazd to settle 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 Miscellaneous Procceds either to restoration 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 Borrower Miscellaneaus Procceds or the party against whom Borrawer has a right of action in:
<br />regard to Miscellaneous Proceeds.
<br />Borrower shall be in default if any action or procee�ing, whether civil or criminal, is begun that, in
<br />Lender`s judgment, could xesult in frnrfeiture of the Property or other material impairment of Lender's
<br />interest in the Properiy or rigb.ts under this Se�urity Instrument. Borrowez c�u cure such a default and, if
<br />acceleration has occuxred, reinstate as provide�i in Section 19, by causing the action or proceeding to be
<br />2200162791 D V6,ANE
<br />NFBRA3KA - Single Family - Fannie Ma�Freddle Mac UNIFORM INSTRtJMENT WITFL
<br />(�'j-BA(NE� roa�ol Pagsa ot �s i�ua�s:` Form 3028 1/07
<br />�
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