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. 201201751 has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamings on such proceeds. Fees for public adjusters,or other third parties, retained by Borrower shall not 6e paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration ar repair is not economically feasible or Lender's securiry would be lessened,the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided For in Section 2. If Borrower abandons the Property,Lender may file,negotia[e and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the no[ice is given. In either event,or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby xssigns to Lender(a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security [nstrument,and(b)any other of Rorrower's rights(other than the right to any refund of unearned premiums paid by Borrower)under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Securiry Instrument,whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shal I continue to occupy the Properly as Borrower's principal residence for at least one year after the date of occupancy, unless Lender o[henvise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borcower shall not destroy,damage or impair the Property,allow the Properry to deteriorate or commit waste on the PropeAy. W hether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. [f insurance or condemnation proceeds aze paid in connection with damage to, or the taking of, the Property, Borrower shall 6e responsible for repairing or restoring the Property only if Lender has neleased proceeds for such purposes. Lender may disburse proceeds for the repairs and resroration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Proper[y, Borrower is not relieved of Borsower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of[he improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities actin�at the direction of Dorrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information)in connection with the Loan. Material representations include,but are not limited ro,representations conceming Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Uoder this Security Instrument. If(a) Borrower fails to perfortn the covenants and agreements contained in this Security Instrumen[, (b)there is a legal proceeding that might significantly affect Lender's in[erest in the Property and/or rights under this Security NM:RRASKA-Single Pamily-Fannie Mae/Freddie Mac CNIFORM INSTRUMENT W ITH MERS Furm 3028 1/01 Page 7 of 16 Initials:�_