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201209534 All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right fo disapprove such policies, shall include a standazd mortgage clause, and shall naine Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certifica#es. If Lender requires, Borrower shall prompfly gtce to Lender all receipts of paid premiums and renewal notices. I£Borro�ver obtaias any form oP insL�rance coverage, not otherwise required Uy Lender, for damage tq or destruction of, the Property, such policy shall include a stazidatd mortgage clause and shall name Lender as mortgagee and/ar as an additional loss payee. ?n the event of loss, Borrower shall give prompt nctice to the insurance carrier and Lendcr. Lender may make proof of los�if not made proinptly by Borrower. Un!ess Lender and Borrower otherwise agaee in u�ifing any ins�ance proceeds, v✓hether or not the undcrl�ng]nsuranCe was xequired by Lender, sha]1 be applied W restoratlon or reyair of the Property, if the resforation or repair is economicaliy feasible and Lender's security is naY lessened. Diuing such repair and resforation p�iod, Lzndzr shall have the righf to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been complated to Lender's satisfaction, provlded that such inspection shall be undertaken prompfly. Lender may disburse proceeds for the repairs and restoration in a sin�le payment or in a serics of pragress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requJres interest to be paid on such insurance proceeds, Lender shall not be requued to pay Borrower ar.y interesf or eamings on such proceeds. Fees for pnblic adjustexs, ox other third parties, retained by Borrower shall aot be paid out of the insurance proceeds and sha7�be the sola obligation Of Bonowei. If the restoration or repair is noE econoinically feasible or Lender's security would be Iessencd, UZe insurance proceeds s1�a11 be applied to the sums secwecl.by this Security Instnunent,. whether or not then due, with the�cess, if any, paid to Borrower. Such insurance proceeds shall be apylied in thc order provided fox in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any auailable insurance claim and related matters. If Borroa�er does not resgond 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 norice is given. Hi eithes event, or if Lender acquires the Proparry imdes Section 22 or otherwise, Bonower hereby assigns Co Lender(a) Sorrower's rights to any iasurance procceds in an amount . not to exceed the amounts unpaid under the Note or tlus Secarity Inslrument, and(b)any other of Borrower's rig�ts(oth��r dian the.right to any refitnd of unearned preiniums paid by Borrower)under all insucance policies covering the Property, insofaz as such ngl-�ts are applicable to the coverage of the Pioperiy. I,cnder may use khe insurance proceeds eiFher to repair or restora the Pzoperty or to pay aznoimts unpaid under the NoCe or tlus Security Instruwent, whett�eir ox not then due. 6. OccupanCy. Borrower shall occupy, establish, and use the Property as Borxower's principal residence wilhin 60 days after the exccution of this Security Instnunent�td shall continue to occupy the Property as Borrower's principal residence far at least one yeaz after thc date of occupancy, unless Lender oCherwise agrees in writing, wluch consen[shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's contcol. 7. Preservation, M aintenance and Protec4ion of the Properiy; Inspections. Borro�ver shall noc destroy, da�na�e or impair the Propexty, allow the Pxoperty to detcriorate or commit waete on the Property. Whether or not Borrower;s residing iL the Property, Borrower shall maintain the Property i�n order to preven't the Property from deTeriorating oz decreasing in value due to ifs condition. Unless it is determined pursuant to Section$ that repair or restoration is not economically feasible, Borrower shall promptly repair the Properiy if damaged to avoid further deteriaration or damage. If insurance or condeinnation proceeds aze paid in connection wifli damage to, or the taku7g of, the Properiy, Borrower shall be res�onsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds saaoz�aa NFBR/�SKA-Single Family-Fannie M ae/Pr�dtlie td ac ON IFORM INSTRUbi E�T Form 3028'I l01 VMP� � VMP6(NE)(it05) VJolters Klu�,vu Financial Services Page]oi 1]