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<br />that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires
<br />separately designated payments toward the premiums for Mortgage Insurance.
<br />If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower will pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage
<br />Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section I I affects Borrower's obligation to pay interest at the Note
<br />rate,
<br />(b) Mortgage Insurance Agreements. Mortgage Insurance reimburses Lender for certain losses Lender may incur if
<br />Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance policy or coverage.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements may require the mortgage
<br />insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds
<br />obtained from Mortgage Insurance premiums),
<br />As a result of these agreements, Lender, another insurer, any reinsurer, any other entity, or any affiliate of any of the
<br />foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's
<br />payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. Any
<br />such agreements will not: (i) affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of
<br />the Loan; (ii) increase the amount Borrower will owe for Mortgage Insurance; (iii) entitle Borrower to any refund; or (iv) affect
<br />the rights Borrower has, if any, with respect to tile Mortgage Insurance under the Homeowners Protection Act of 1998 (12
<br />U.S.C. § 4901 el seq.), as it may be amended from time to time, or any additional or successor federal legislation or regulation
<br />that governs the same subject matter ("HPA"). These rights tinder the MPA may include the right to receive certain disclosures,
<br />to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, an ' d/or
<br />to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination,
<br />12. Assignment and Application of Miscellaneous Proceeds; Forfeiture.
<br />(a) Assignment of Miscellaneous Proceeds. Borrower is unconditionally, assigning the right to receive all
<br />Miscellaneous Proceeds to Lender and agrees that such amounts will be paid to Lender.
<br />(b) Application of Miscellaneous Proceeds upon Damage to Property. If the Property is damaged, any
<br />Miscellaneous Proceeds will be applied to restoration or repair of the Property, if Lender deems the restoration or repair to be
<br />economically feasible and Lender's security will not be lessened by such restoration or repair. During such repair and
<br />restoration period, Lender will have the right to ]told such Miscellaneous Proceeds until Lender has had an oppo'rtunity to
<br />inspect the Property to ensure the work has been completed to Lender's satisfaction (which may include satisfying Lender's
<br />rainimunt eligibility requirements for persons repairing the Property, including, but not limited to, licensing, bond, and
<br />insurance requirements) provided that such inspection must 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, depending on the size of tile
<br />repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make
<br />such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both, Unless
<br />Lender and Borrower agree in writing Or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender
<br />will not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If Lender deems the restoration
<br />or repair not to be economically feasible or Lender's security would be lessened by such restoration or repair, the Miscellaneous
<br />Proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, unless prohibited by
<br />Applicable Law, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds will be applied in the order that
<br />Partial Payments are applied in Section 2(b).
<br />(c) Application of Miscellaneous Proceeds upon Condemnation, Destruction, or Loss in Value of the Property.
<br />In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied to
<br />the sums secured by this Security Instrument, whether or not then due, unless prohibited by Applicable Law, 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 (each, a "Partial Devaluation") where the
<br />CALIFORNIA—Single Family --Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form 3005 07/2021
<br />CALIFORNIA DEED OF TRUST (SIDOT.CA)
<br />25283.8 (11/22) Page 10 of 17 BANK OF AMERICA, N.A.
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