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201207691
<br /> All instu�nnce policies requu�ed by Lei�icler�nd i�enewnls of sucl2 polioies shnll l�e subject to Laidcr'�right ta
<br /> disapprove such policiea, shall inclucie a standard mortgage elause, and shall ntune Leiider Ae mortgagee
<br /> and/or as an additioi�a1 loss payee. I,ender sha11 1iave thc right to 11o1d the policies a�id renewal certifioates, If
<br /> Lencier requires, Borrower sh�l1 prompLly give Co Lender all receipCs of paid prcmiums and reiiowal votices.
<br /> If Borrower obteius eny form of iusurtuice cover�ge, not ofherwise required Uy Lender, fox d�unage lo, or
<br /> destiuction of, tha Properry, suoh polioy shall ivclude a staadard mortgage clause amd shall name Lender as
<br /> inortgagee and/or as an addiEional loss payee.
<br /> In the event of'loss, Borrower ehall give prompt uoCice to 11ia n�sivance ourier and Lender. Lender may
<br /> make proof of loss if not made proinptly by Borrower. Unless Lendcr and Rorrower otherwise agree in
<br /> writing, �vy insiu�nnce�roceede, whether or not fhe uucierlying insncanee was rcc�uired by Lendor, ehall be
<br /> applied tio restoration or repair oF the Property, if tl�e restoration or repair is econoinically PeaeiUle and
<br /> I.ender's security is not lessencd. During such rcpzir and restoration peri�d, Lcnder shall have tl�c right to
<br /> hoM such u�sui��mce prooe�ds until Lendex has hnd nn oppoxtunity to inapect sueh ProperEy lu etisure the
<br /> work has been completed eo Lender's satisfaction, �rovided tliut such inspection shall be undertalceu
<br /> promptly. Lauder inay disburse proceeds for the repairs and testorafron in a siugle payment or in a series of
<br /> probn�e,ss payments as fl�c work is complctcd. Ui�lcss an agreemenf is madc in writii�g or Applical�lc Law
<br /> rcquirc.s intcresti Lo 6o paid on such insLu�nnce prooeecis, Lender shall not be required to pay Borrower auy
<br /> inCerest or earnings on suoh proceeds. Pees for public fldjustere, or other Yhird parties, reYained by Borrower
<br /> shall not be paid out oP the instuance proeeeds and s1�a11 Ue the sole obligation oPBorrowar. IF the restoration
<br /> or repair is not econoiuioally feasiUle or I,ender's secmtity woLilil Uc le�scncd, the ins�irancc procccds sl�ttil be
<br /> applied to the sums sccured by thie Sa;�n�ity Inst�umenC, wheCher ot not then due, with the excess, if nny,
<br /> paid to Borrower. Snch insurance proceeds shall be applied in the order provided for in Section 2.
<br /> If Borxower abandoiis the Property, Lender mey file, iiegotiate wd settle any availuble insurance olaiin and
<br /> relaYecl mattera If Son�ower doee not respond wit1iin 30 daye to a notice fi�om Lender that the insuraix:e
<br /> c��ri,ar has offorcd to settic tt cl�im, tl�on Lerider inay negoCiat�and se[[le ihe claui�. The 30-day period will
<br /> begin when fhe notioe is given. In eieher event, or if Lender aoquires the Property under Section 22 or
<br /> otherwise, Botrower hereby�ssigns to Lanfter (a)Borrower's righte Co aaiy insmauce proceeds iu an unoiuit
<br /> not to excaed the amomitis unpaid under tUe Note or this Security fnstrwiicnt, and(U) ai�y othcr of
<br /> Borrowe�'s rights (other t1��n tho rigliti Co any refimd of nnearned prenvtuns paid by I3orrower) nnder�dl
<br /> itiaurance policies covering the Property, insofa� as such rigl�ts are eipplicable ta the coverage of thc
<br /> Property. Leuder�nay u5e tl�e insnrance proceeds cithce to rep¢ir or resCore Che Property or to pay amounts
<br /> unpaid undcr LheNmc:or Chis Seciu�idy H�istrument, whether or not then clue.
<br /> 6. Occupancy, Borrower sl�all uccupy, eatAblish, and use the Properry as Borrower's princip�l residenca
<br /> witlun 60 days aftex the execution of thia Sacurity Instrument and shA11 continue to occupy the ProperCy ae
<br /> Borrower's piuicipal residence for at least one year afEer fl�c dato of occupancy, uulcss Lender oLherwise
<br /> agrees in writing, whio1l consent el�all noti bo tmreasonably withlielci, or mileas extenua�ring circumstances
<br /> exist which are beyond Borro�ver's conCrol.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower slk�ll not dest��oy,
<br /> cia�nage or impair 11ie Propexty, �llow the Property Yo deteriorata or coimnit waste on Uis Properry. W'hether
<br /> or not Borrowec is residing in the Property, Borrower shall maintnin t1�c Propc��Cy in ordcr to prcvont Eh�
<br /> Properfy froin dete��iorating or decrcasing in valuc due Co i4s oondi[ion. Unless ie is detennined pursunnt to
<br /> Scction 5 lhat repair or resloration is not economically feasible, Borrower sl�all promptly repair the ProperCy
<br /> if dunaged W fluoid fitrth�r detiarioraCion or dam�ge. If in�uraiico or condemna�ion proccccls arm paid in
<br /> connection with damage to, or thc tal<ing of, tl�e Properly, Boirower shall be responsiBle for repairing or
<br /> rosEoring thc Properly only iP Lender h�s relensed proceeds for such pmpose,s. Lender may disbm se prooeeds
<br /> ��.— --- �— — zaao�zsa
<br /> VM�SKA-SingleFomlly-FaOnleManlFreUtlle�NaoUMFORM INSTRUA7FNT yMpg(NG)�7105)
<br /> W olters I(luwer Fln2noial Servlcae P�9e'/af 79
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