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201206682 All insurance policies required by Lender and renewals of such policies shall be snbjecf To Lender's zighf fo disapprove sucli policies, shall include a standard mortgage clause, and shall aame Lender ati m�rtgagee and/or as an addi6onal loss payee. Lender sha11 have the right to hold Lhe polieies and renewal certificazes. If Lender requires, Bonower shall gtoanptly give to Lender all receipts of paid premiiuns and renewal notices. IF Borrou�cr obtains any forxn of insurance coverage, not otherwise required by Lender, for dunage to, or desiruction of, the Property, such policy shall include a stanriard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give promp[notice to the insurance carrier axid Lender. Lcnder may � make proof of loss if not made prompfly by Bortower. Unless Lencic;r and Borrower otherwise aa ee in writing, any insurance proceeds, whcther or not the underlying insurance was required by Lender, shall be applied to restorarion or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have[he right to hold such insurance proceeds miril Lender has had.an opportuni[y to inspect such Property to ensure ttie work has been completed Lo Lender s sarisfaction, provided t}�at such inspection shall be undertaken prompdy, Lencler may disburse proceed�Por the repairs and restoration in a smgle pay7nent or in a series of progress payments as the�+ork is completed. Unless an agreement is inade in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be reqLured to pay Borroa�er any interest or earnings on such proceeds. Fees for puUlic adjusters, or other third parhies, retained Uy Borrower shall not be paid out oP the insurancc proceeds and shall be the sole obligation of Borrower. If the restoration or rcpair is not economically feasible or Lender's sec�aity would be lesscned, the insurance proceeds shall be applied.to the sums secured by Lhis Scx;Luity Instrument, whether or not then due, with the excess, if any, � paid to Borrower. Such instu�ance proceeds shall be applied in t11e order provided for in Section 2. if Porro�er abandous the Property, Lender may file, ncgotiate and settle any available insurance claim uid related inat±ers. If Borrower does not respond wittun 30 days to a notice from Lender that the insutance canier has offered.to setTle a claim, then Lender may negotiate and settle the claim. The 30-day period wIll bcgin whwi the notice is given. In either event, or if Lender acquiies the Properry under Section 22 or ofherwise, Borrower hereUy assi�s to Lender(a)Bocrowe['s rights to any insuraucc proceeds in an aznount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other oP Borrower's rights(o2her than the right to any refund of unearned premiums paid by Borrower)under 2ll insar�ce policies covexing the Properry, insofar as such xights are applicable fo the eaverage of the Property. Lender may use the msurance proceeds either to repau or rzstore tlia Property or to pay�unoiutl.s unpaid under the Note or this Seeurity Instnnnent, whether or nat then due. 6. OccupanCy. Boxrower shall occupy, establish, and asc nc�Property as Borrower°s principal residence wittuu 60 days aFter lhe�xecution of this Security Tnstrmnent and shall continue to occupy the Properiy as Boixower`s principal residence far at least one qear after tkie date of oce�ancy, unless Lender ot�erwise agrees in writing, which consent shall not bc unreasonably u�itUheld, or unless extenuaCing circunLstances exist wiuch aze beyond Borrower's control. 7. Preservation, M aintenance and Protection of the Property; Inspections. Borrower shall not destroy, dzmage or impait the Property, allow the Property to deYeriorate ox cominit waste on the Property. Whether or not Borrowcr is residing in the Property, Borrower shall maintain the Property in ordcr to prevent the Properry from deteriorating or ftecreasing in value due to its wndition. Unless it is determined pursuant fo Scction 5 that repazr or rest�ration is not economically feasible, Bonower shall prompdy repair the Property if dasnaged to avofd further deterioration or�datnage. If insuxance or condemnation proceeds aze paid ia connecrion with damage to, or the taking of, the Property, Borrower shall be responsible for repauuig or � restoring thc Properry only if Lender has released proceeds for such purposes. Lendcr inay disburse proceeds zaaoi7az NFBR4SKASIngle Fzmity-Fannie M se�Fretltlle A1 ac UNIFORAI W STRWd FNT Form 3028 1 f07 �ry�P OO �Rd P6(NE)(1105J Vu'eRers Klu'u er Financial Servic=_s Page]of 1]