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NOU-25-2�11 15:27 From: To:81877422996� P.1��20
<br />�011093�5
<br />satisfaction, prc�vid� that sach inspec;Cion shall be undert.�ilcen promptiy. t.cndcr may pay tar the repairs
<br />aad restoration in a singiC disbursement or ir► a+�ries of prugress payments as the work is compl�te+l.
<br />Unless ;ul agru:ment is made i� wriling ar Applicable Law requires int�rCSt ta bc paid on sueh
<br />Miscellaneous Frr�r.ecds, Lender sh�ll nol bc required to pay Borrower any interest �r �trnin�s cro such
<br />Mis4eilstteous Praceeds, if tht; r�,�toration or rep�ir is nUt e4cmcamiCally tcasible or I.e�uder's security would
<br />be lessene�i, tht; Miseellaneous P'roceecl.� shafl be applied ta the sums secured by this 5ecurily Instivment,
<br />whetlier or not then due, with the excess, if any, paid to Bormwcr_ Sueb Miscellaneous Praceeds shall be
<br />appliCd in thc order provided fvr in SCCtion 2.
<br />1a the event of a tot��l raking, dcstruction, or lass in v�lue t�f t1�4 Property, the Miscellane4us Praceecls shall
<br />b� ariplicd tc� thc sucns secured by this Sccurity lnstrument, whether or not then due, with the exce.cs, if any,
<br />paid to Borrawer.
<br />Tn the evdnt c�f a partial takiug, destructicm, c�r loss iu value of the Progerty in wbich the fair market value of
<br />the Property immediately b�:Cc�r� the partial t�lang, destruetion. or lc�ss in valuc ik cqual tc� crr greater than the
<br />amc�urit cyf ihe yums secured by this Se�urity instrumeut imnizdiately before the parti�l talcing, destruclivn, or
<br />lass in v�ilue, aaless Barrawer and Lender otherwise agree in wri�ieg, the sun�s sCCUred Uy thts Security
<br />Instnuuent shall be reduced by the arnount ot die Mjscellweaus Proceeds muitiplied by t1�e foUowin�
<br />fraction: {a) th� tc,csl a�nouut of the sums secur�d imrncdiatCly }�fore the partial talting, destructiou, or loss
<br />in value divided by (b) the fair market value of the Froperty immediately befare the pariial uikirig.
<br />destruction, or loss in �alue, Any �ialanec shall be pai3 to Dorrower.
<br />in the event of a parki�] takin�, destruction, or lc+ss in value of the i'roperty in whieh the Cair marlcct v�lue c�Y
<br />the Property imme�iately before the partial taking, destruction, or lass in v�lue is less thau the e�ount of tbe
<br />sum� s�curc;tl imrnediately Uefore the plrtial taking, tl�;,lruclicrn, t�r ic�ss in valua, unl�;.tis $c�rreswcr dnd
<br />Lender otherwise ��gr� in writing, the Miscellaneous Proceeds sh�ll be applied to the sums secured by this
<br />S�curiry Instrumcnt wl�ether c►r not the sums �r� thcn tiw:_
<br />If the Property is abandaned hy B�rmwcr, or if, after notice by Lender to Borrower that the Upposing Party
<br />(as defin�rl in ttfe next sentence) offers to mak� ;� award tn scitle � eldim fcar tlamagcs BUrn7wCr fai1S Ct7
<br />respond to Lender wirhin 30 clays afier the date the notice is �iven, Lender is autharized to collect wd apply
<br />the Miscellaneous proceeds either to re4tdratian or repair oC the Properry or cn the sums sc.�:urr:cl by this
<br />5CCUrity Instrurn�t, whether ar not then due. "Opposing Party" means the third puty that owes B�rrower
<br />Miscellaneous Fraceeds or lhc party against whom Borrower has a right af aetion in regard ta Miseellaneous
<br />1'roceeds.
<br />Borrower shal l be in def;�.ult if any action or peoceeding, whethee civil ur criminal, is begun that, in 1,e�der's
<br />judgment, could result in forfeiture af the ��?crly or c�ther malCrial impairment vf Lender's interest in the
<br />Prvp�rty or ri�hts undor thig Sccurity lnstrument. Borrower can cure sucf� a default and, if accelerstion h�s
<br />occurred, reinstate as provided in S�ctian l9, by cauaing thc ;�clion c�r prc�u;e�ctin� la be dismissed with a
<br />rulia� ihat in LGrt{iCr' judgmeat, precludes forfeiture ot the F?ro�►erty or other materiai impairment of
<br />Lender's interest in the Froperty dr righ�,� un�cr ttiis $ecuttity [nstnunent. The pmC��i.� c�f any award t�r
<br />claiiu far damages tt�at are atteibutable to the impairment af Lender"s interest in the Property are hereby
<br />assigned �nd sh�ll be �aitl tc� LcnclGr,
<br />All Miscellaneous Froceeds that are not applied t� �toration or repair of the Property sl�all t�e applied in the
<br />order provided for in SCC;tic�n 2.
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<br />VMP F'D VMA81Nn I1105).00
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<br />11/25/2011 12:32PM CGMT-07:00)
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