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<br />If Borrower fails to mamtam any of the coverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or
<br />amount of coverage. Therefore, such coverage shall cover Lender, bur might or might not protect Bouovvcr,
<br />Borrow&s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might
<br />provide greater or lesser coverage than was previously in effect Borrower acknowledges that the cost of the
<br />insurance coverage so obtained aught significantly exceed the cost of insurance that Borrower could have
<br />obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower
<br />secured by [his Security Instrument. These amounts shall bear interest at the Note, rate from the date of
<br />disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shalt name Lender as mortgagee and/or
<br />as an additional loss payee, Lender shall have the right to hold the policies and renewal certificates. If Leader
<br />requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower
<br />obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, The
<br />Property, such policy shall include a standard mortgage clause and shall name Leader as mortgagee and/or as an
<br />additional loss payee -
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender Lender may make
<br />proof of loss if not made promptly by Borrower. Udess Leader and Borrowex otherwise agree in wrifing, any
<br />insurance proceeds, wbeffier or not the underlying insurancc was required by Lender, shall be applied to
<br />restoration or repair of the Property, if the restoration or repair is economically feasible and Leades security is
<br />not lessened. During such repair and restoration periA Lender shall have the right to hold such insurance
<br />proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed
<br />to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse
<br />proceeds for the repairs and restoration in a single payment or in a series of progress payments as 'the wc rk is
<br />completed. Unless an agreement is made in writing or Applucable Law requires interest to be paid an such
<br />insurance proceeds, Lender shall not bt� required to pay Borrower any interest or earnings cut such proccocls.
<br />Fees for public adjusters, or other thind paTtim retained by Borrower shall not be paid out of the insurance
<br />proceeds a -ad shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or
<br />Lender's security would be lessetied� the insurance proceeds shall be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with the excess, if any, paid to Borrower- Such insurance proceeds
<br />shah be applied in the order provided for in Section 2,
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters- If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier
<br />has offered to settle a claim, then Lender may negotiate and settle the clami.The 30 -day period will begin when
<br />the notice is given- In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower
<br />hereby assigns to Lender (a) Borrower's rights to any insurance. proceeds in an amoutit not to exceed the
<br />amounts unpaid Linder The Note or this Security Trtstrumtent� and (b) any other of Borrower's rights (other than
<br />the right to any re�firid of unearned premiums paid by Borrower) Linder all insurance policies covering the
<br />Property, insofar as such rights are, applicable to the coverage of the Property- Lender may use the insurance
<br />proceeds either to repair or restore the Propety, or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />G. Occupancy. Borrower shall ocrapy, establish, and usu (he Property as Borrower's principal residence within 60
<br />days after the execution of this Security Instrument and shall conthme to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless Leader otherwise agrees in writing,
<br />which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which me beyond
<br />Borrower's control.
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