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201201534 All insurance policies renuired by Lender and renewaLs of such policies shall be subject to Lender's right to disapprove such policies, shall lnclude a standard moxtgage clause, and shall name Lznder as mortgagee and/or as an additional loss payee. Lendex shall have the rlght to hold the policies astd renewal certificates. If Lender requires, Bonower shall promptly give to Le�ider all receipts of paid premiums and renewal notices. I�Borrower obtains any fonn of insurance eoverage, not otl��rarise required by Lend�, for damage tq or destruction of, the Property; snch policy shall include a standard mortgage clause and sha11 nazne Lender as mortgagcc and/or as an additionalloss payce. In the event of 1oss, Sorrower shall give prompt notice to the insurance carrier and Lender. Lendzr may make proof of loss if uot made promptly by Bono�ver. Unless Lender and BoiYOwer otherwise agree in wriring, any insurance proceeds, whether or not the underlying insurance was rcquired by Lender, shall be applied to restorafion or repair of the Property, if the restoration or rcpair is economically feasible and Lender's security is not lessened. During such repair and restoration period Lender shall have the right to hold sucii insurance proceeds until Lender has had an opportunity to inspeet such Properry to ensure the work has been completed to Iznder's satisfaction; �n-ovided that such inspection shall be undertaken pmmptly. Lender may disburse proceeds far the repairs anci restoration in a single payment or in a series of pirogress payments as the work is completed Unless an agreeinent is made in v�siting or Applicable Law reqiures interest to be paid on such insurance proceeds, Lender shall n�t be required to pay Borrower any interest or eaniings on such proceeds. Pces Por puUlic adjusters, or other third parties, retained hy Borrower sha11 not be paid out of the insurance proceeds and ahall be the sole obligaSion of Boao�ver. If the restoration or regair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall bz applied to tha swns secured by this Security Insmunent, whether or not then di�e, with the excess,, if any, paid to Borrower. Such insuranec proceeds shall be applied in the arder provided for in Secrion 2. If Borrower a`oandons the Property, Lender may fi1e, negotiate and seYtle any available insuTance elaim and related matters. If Borrower does not respond wiChin 30 days to a notice from Lender that the insurance carrier has offezed to settle a clavn, then L,ender may negokate and settle the claim. The 30-day period will be�n when the notice is given. In either A�=ent, or if Lender acquues ttae Properiy unuer Sectton 22 or otherwise, Barrower hereby assigns to Lender(a)Boirower s rights to any tnsurance proceeds 3n an amount not to cxceed the amounts unpaid under thc Note or t7us Security Insh-iunent, and(b) any other of Borrower's rights(otUer t71an the right to any refund of unearned premiums paid by Borrower)undex all ins�ance policies covering thc Property, insofaz as such rights are applicable to the covarage of the Properiy. Lender may use the insurancc proceeds either to repair or restore the Property or to pay amounts Unp2id under the Note or this Security Tnstnunent, wl�ether or not then due. 6. Oceupancy. Borrower shall occupy, establish, and use the Property as Bonower's principai residence wiilun 60 days after the�ecurion of ihis Security Instrument�d shall continue to occupy khe Yroperty as Borrower's principal residence for at lcast one year after the date of occupancy, unless Lendcr otheruvise agrees in writing wlveh consent$hall not be unreasonably withheld, or unless exte�uating circwnstanees e�st which are beyond Barrower's conkol. 7. Preservation, Maintenance and Protection of the Property; Inspeciinns. Borrower shall not destroy, damage or impair the Property, allow the Froperty to deteriorate or commit waste an the Properiy. Whether o[not Etasower is xesiding in the Properfy; Borrower shall maiatain the Propexty In order to prevent the Property from deterioratu7g or decreasing in��alue due to its condirion. Unless it is determiued pursuant to Section 5 i�at repair or restoration is not economically feasible, Borrocnex sliall promptly repair the Property if du-naged to a�oid further deterioration or datnage. If insurance or eondemnaTion p=oceeds aze paid in connectiosi with damage to, or the taking of the Property, Borrowec sball be resyonsible for repairing of i-estorine the Property only if Lender has released proceeds for such purposes, Lender may disburse proceeds N°BRPSKASin le Fanil -Fannie Mze/Retldie PAac UMFORM1I INSTRUMENT 25�0039] `��P� 9 Y Porm30281/01 VM P6(NE)(i 105) Nlolters Kluwer Fnancl�l SetvicPS � Page P ot t]