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201209490
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<br /> AlI insurance policies required by Lender an�areuewals of such poIicie�shall bc snb�ect to I�ender's right tu
<br /> disapprove such pulicies,sliall inc3ude a standazd mortgage clause,and shull name Leuder as mortgagee
<br /> andior as ar>addiEioaal loss payee.Lendex skall have tfie right fo hold fhe policies and renewal cerliiic:�te;.1P
<br /> Len�er requires,I3nrrower sha11 pramptly giVe to T,ender aII receipls of paid,premiums and renewal notices_
<br /> Tf Borrowex obtains any form of insiuxnce covarage,not othenvi.�e required by Lender,for damage to,or
<br /> deshrucfion of,the Property,such p�licy shaIl inciude a standard morfgage clanse and shall name Lender as ;
<br /> martga�ee and/or as an additionaI losa hayee.
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<br /> In#he e�ent of loss,Boxrower st�all give prompt netice to Ihe inauuauce carrier and Lendcr.E.mdcr may �
<br /> malee proof o£loas if not made promptly by Bozrower_Unle�s Lender and Borrower uLk�erwisc ageee in ;
<br /> writing,any insurance proceeds,whether or nof the underlying insurance was required by Lender,shall be i
<br /> applied to icstoration nr repair of the Propa�'ty,if the restoration or repair is ec:onomical ly feasible and �
<br /> Lender'b sec�rity is not Iessened_Duriag snch repnir and resEoration pe�od,Lender sUall have fhe right to
<br /> hold such insiirz�nce proceeds imtil Lender has l�ad an opporLunity to inspcct s�ich.Prnretiy#o ensure the
<br /> work hsss bcen completcd to Lcadcr's satisfactinn,provided fhal such i�spectiou shall be undertakea � -
<br /> promptly.Lender muy disburse pnx:e�ds for the r�pairs and resboration in a sing[e�ayment or in a seties uf
<br /> prng7'ess paywenty xs�e wock is eompleted.Unless an agreemant is mac�e iu wx'itiug or Applicable Law II
<br /> requires interest to be paid vn sach insuranc:e pruueexls;T.endet shall not be raquircd to pay Bortower any I
<br /> interest or earnings vn snch proceeds_Fees for public adjusters,or other third pazties,ret:uned by]3orrowor
<br /> sha1S nnt be paid out of the insurance proceeds and shall he Y#Ae snle nbligation of Barrower.If fhe restaration �
<br /> or repait is not economically fcas��67e or T.ender's security wou�d be lessened,fhe insurauce proceeds shall be
<br /> applied to thc snmc aecured by Efiis Se+:uriiy IusfiwuenC,whether or nat thcn dne,with the excess,if any, I
<br /> paid fo Borruwer-54ach insnrance proceeds shall be applied in the order provided for in Section 2_
<br /> If Boaowcr a6�nrinn4 the 1'rope�ty,I.�nder may file,negotiate and settle any availahle insurance claim and I
<br /> rek�ted mallers_IC Borrower docs nat respond within 30 days tn a nntice from Lender fhat the insurance �
<br /> caaiex I�as off red to setflc a claim,then T,ender may nego[iate aud seffle the claim.The 30-day period will '
<br /> begin when the notice is given.In either eyart,or if Lender acquires the Prorext}+under 5ectiun 22 ur
<br /> atherwise,Bonrower hereby assi�ns to Lcnder(a)Borrawer"s righis.tu auy insuranoe proceeds ia an amotmt
<br /> not to exceed the amonnYs unpaid under ihe Note or this Secnrity Iastrumeut,and{b}any ofher af ,
<br /> Borrower's rights(othet than tke righi to auy refund of uneamed premiums paid by Surrower)under a11 I
<br /> insurnnce policies cove�ttg the Prop�rty,insotar as such rights are applicable#o fhe coverage of the
<br /> Prupaity.Lender may nsc the insutftnco proceeds elt7xer to repair or restore the Property nr tn pay amoun4s
<br /> impaid nnder the Note or thia Securily Instrixment,�n�hetficr or not flien dua. �
<br /> 6. OCeupaney.Botrower shall occupy,estabJiSh,and use the Propezly as Borrower's principal residence `:
<br /> within 6fl dmyc nfter the execufion of this Security Inshume.�t and shall r.nntinue ta occupy ihe Pmperty as '
<br /> Bartower's principal residmcc for at le.naf nne year afrer the date of occupancy,unless Lender otherwise I
<br /> agrees in writing,which cons�nL�all not be unreasonably withhcId,or nulesa exfenuating circumstances
<br /> exist whi�li are beyond IIarrower's contrnl. I
<br /> 7. Preservation,Maintenanceand Protectionof the Property;Inspections.Sorrower shall not deslroy,
<br /> damage ar impail't1�e Proper[y,allow thc Pmperty to deteriora2e or comuxtit waste on the Properly_VJhether
<br /> or not Botrower is residing in the Ptoperty,Aorrower shall waintain the Property in order tn preveirt the
<br /> Property from deterioreting or decreaaiug iu value due to its condition.Unless it is determined pursnant to I
<br /> Secfion 5 Lhai Xe�air or restoration is not econamically feasible,I3arrUwer shall promptly rcpair the Pmparry
<br /> if damaged to avoid further deterioxation or dainage.If insurancc or condemna#ion proceeds are paid in �
<br /> connecfion wifh damage to,or the taking of,the Propeity,Borruwer al�all bc responsiblc for repairing or �
<br /> restaring the Property only if Lendei has releasad proceeds far such purposes.Lender may disi�ursc proceeds
<br /> . NE6RASI[P.SinglP Y�mi1y-Fannie Mae/Fretld e M�c UNIFORIJ.IN57RUMENT Fortn�28�l�� �� _
<br /> VMP6pJE){7105).00
<br /> VPnP� - � ' papa 7 of 17
<br /> Wolters ItlwvcrFinarcialSeMces
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