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214403279
<br /> Insurance,to have the Mortgage Insurance terminated automatically,and/or to receive a refund of any
<br /> Mortgage 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
<br /> assigned to 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 /> Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During
<br /> such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
<br /> Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
<br /> satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and
<br /> restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an
<br /> agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,
<br /> Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br /> restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous
<br /> Proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due, with the
<br /> excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in
<br /> Section 2.
<br /> In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
<br /> shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br /> any,paid to Borrower.
<br /> In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br /> value of the Property immediately before the partial taking,destruction, or loss in value is equal to or greater
<br /> than the amount of the sums secured by this Security Instrument immediately before the partial taking,
<br /> destruction,or loss in value,unless Borrower and Lender otherwise agree in writing, the sums secured by this
<br /> Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the
<br /> following fraction: (a)the total amount of the sums secured immediately before the partial taking,destruction,
<br /> or loss in value divided by (b) the fair market value of the Property immediately before the partial taking,
<br /> destruction,or loss in value.Any balance shall be paid to Borrower.
<br /> In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
<br /> value of the Property immediately before the partial taking, destruction, or loss in value is less than the
<br /> amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br /> Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
<br /> secured by this Security Instrument whether or not the sums are then due.
<br /> If the Property is abandoned by Borrower, or if,after notice by Lender to Borrower that the Opposing
<br /> Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails
<br /> to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and
<br /> apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this
<br /> Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower
<br /> Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous
<br /> Proceeds.
<br /> Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
<br /> Lender's judgment,could result in forfeiture of the Property or other material impairment of Lender's interest
<br /> in the Property or rights under this Security Instrument. Borrower can cure such a default and,if acceleration
<br /> has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
<br /> ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of
<br /> Lender's interest in the Property or rights under this Security Instrument.The proceeds of any award or claim
<br /> for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned
<br /> and shall be paid to Lender.
<br /> All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
<br /> in the order provided for in Section 2.
<br /> 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
<br /> payment or modification of amortization of the sums secured by this Security Instrument granted by Lender
<br /> to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or
<br /> any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any
<br /> Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization
<br /> of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br /> Ie Ilial.:
<br /> (M-6A(CA) (0oo5).o1 Page 90115 Form 3005 1/01
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