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201201532 .4ll insurance policies requied by Lender and rene�x�als of suc h policies shall be subject to Lendcr's right to disapprove sixch policies, shall include a standazd mortgage ctause, and shall name I endez as mort�agee and/or as an additionalloss payee. Lender shall 1ia�e the right to hold the po&cies and renewal cerrificates. Xf Lender requires, Bonower shall prompdy give to Lender all receipts�f paid premiwns and renewal notices. If Bonower obtains any form oP insurance coverage, not otherwise required by Lender, for dainage to, or desfrucrion of, the Yroperty, such policy shall include a s[andard mortgage clause and shall name Lender as mortgagee and/or as an additinnal loss payee. In the zvent of loss, Borrower shall give prompt notice to the insurance cazrier and Lender. Lender mav make proof of loss if not made�romptly by Borrower. Unless Lender and Borrower otherwise agree ia writing, any insurance proceeds, whether or not the uuderlying insurance was required by Lender, shall be applied to restora[ion or repair of the Pro�erty, if the restoralion or repair is economically feasible and Lender's security is not lessened During such repair and restoration Yeri�d, Lender shall liave the rigJit fo hold euch insurance proceeds until Lender has had an opportnnity to inspect such Property to ensure the work has been completed to Lender s satisfaction, provided that such inspection shall be undertaken proinptly. I,ender may disbi�rse proceeds for the rcpairs and restoration in a single paymeut or In a series of progress payments as the work is completed. Unless an a�n-eexnenY is made in writing or Applicable Law requires interest to be pud on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eaznnigs on such proceeds. Pees for public adjusters, or other third parties, retained by Borrower shall not be paid ouY of the insurance proceeds and shall be the sole obligation of Bok�'owea. If the xestoxagon � or repair is not economieally feasible or Lender's security would be lessened, the ins�sance proceeds shall be applied to the suxns secured by this Sectxrity Instnunent, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applicd in.the order provided for in Section 2. If Borrower abandons the Properiy, Lender may file, negatiate and settle any availaUle insurance claim aud relatcd�natters. If Bonower dc�cs ne�t respond within 30 davs to a norice from Lender that the insurance carrier has offcred to settle a claim, theu Lender may negotiate and settle the claim. The 30-day period will begin when the notice is a ven. Ia either event, or if Leader acqttires tiie Prape�ty undex Sectirni 22 ox ofhenvise, Bonoar�heteby assigns to L�der(a) Bon-ower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid imder the Note or trus Sec;urity Tnstrument, and(b)any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Bonow•er)under all insurauce policies coveiing the Piopesty, iusof�as such rigkES aze applicable to the coverage of the Property. Lender may use the insurance Proceeds either to repair or restore the Prc�erty or to pay amounts unpaid under fhe Notc or this Security Instnunent, whether or not [hen due. 6� OCCUpancy. Borrower shall oceupy, establish, and Luse khe Property as Boizower's principal resid��ce a�ithiu 60 days aftex the�ecution of tla3s Sccurity Tnsfrument and sl�ll coutiuue to occupy Lhe Property as Borrower s principal residence for at least one year after Lhe datc of occupanc��, unless Lender otherwise agrees in writing, which cansent shall not be unreasonably withheld, or unless extenuating circumstances eust which are beyond Bprrower's contzol. 7. Preservation, M aintenance and Protection of the Propeety; Inspections. Borrower shatl not destroy, ck�snage or impau the Property, allow the Properry to deteriorate or coinmit��aste on the Property. Whether or not Borrou�er is residing in the Property, Borrower shall.maintain the Properry in order to prevent thc Properry from deteriorating or deereasiug in value due to i[s condition. tinless it is detennined pursuant to Section 5 lhat rcpair or restaration is not econo�ni:cally£easible, Borrower shall promptly repair the Property if damaged to avoid furfher dcterioration or daznage. IP vzsurance or condemnation proczeds are p�ud in cannecrion wiYh damaga tq or the taking of the Pxoperty, Borrower shall be xesponsible for repairing Ox reStoring the Property only if Lender has released yroceeds for such purposes. Lender may disburse proceeds zaoaoa2z N�RFSKA-SingleFamily-Fannief+lae'Fretltliehlac ONIFOft1.1 MSTRUbiENT Form 3028 1/o'I VMP� Vh�P6(NE)(1105) LVolters Kluwer Financial Servires Page]ot 1]