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201209694 A1:insu*ance policies requued by Lender and rene�vats of such policies shall be sabject to Lender°s right to disapprove such policies, shall include a st��ndard mortgage clatise, and shall name Lender as mortgagee ant3/or as ar_addirional loss payee. Lender sl�all have the right to hold the policies and renewal certificates. ,If Lendzr requues, Borrower shall promptly give Yo Lender all receipts of paid premiums and renewal sofices. If Borrower obtains any form of insurance coverage, noC otherwisc rc-quirzd Uy Lender, for daznage to, or destruction of, the Property, such policy shall include a standard mortgage clausz and shall name Lender as mortgagee and/or as an additional loss payee. Tn the event of loss, Bortower shall give prompY notice to the insuranca carrier and Lender. Lenda may make proof of loss if not made promptly by Borrower. Unless I.ender and Borrower offierwise agree in writin�, any insurance proceeds, whether or nqt the uttderlying inswance was ieqtzired by Lender, shall be applied to restoration or repair of the Property, if the restoration or renair is economically feasible and I ender's securit5�is not lessened. During such repaix and restoration period, Lender shall have t(ie ri�ht to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the woxk has heen completed to Lender's safisfaction, providecl tliaf such Inspecrion shall be undertakeu promptly. Lender may disburse pxoceeds for the repairs and restoration in a suigle payment or in a series of progress paymerns as the work is completed. Unless an ageement is uiade in writinn=or Applicable Law requires irnerest to be paid on such insurance proceeds, Lender shall not be requued to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third paztizs, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrowcr. If die restoration or repair is not economically ieasible or Lender s security wouid be lessened, the insurance pmceeds s1�a11 be applied to fhe sums secured by this Security S�Lstru�nent, whether or not then due, with the excess, if any, paid to Bo;ro��+er. Such insurance proceeds shall be ayylied in the orcier providcd for in Sedion 2. If$ort'ow'a'abandons the Proparty, Lenda ma.y file, negotiate and settle any available insurancc claun and related matters. If Borrower does not respond within 30 days to a nolice from Lender thaT the insurance carrier has offered to settle a claiin, then Lender inay negoriate and settle the claim. The 30-day pexiod will begin when the notice is given. In either event, or if Lender acquires thc Prcrperty under Section 22 ar otherwise, Barrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the ati»owrts unpaid under the Note or this Securtty Insfrulneat, and(b) any otlier of Bo�ower's xights(other than the right to any refund of uneamed premtums paid by Borxou✓er)und�r all incurance policies covering the Property, inspfar as such rightS are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair�r rzstore the Property or to pay amounts �anuazd tuider the Note or this Security Instnunent, whether or not then due. 6. Occupancy. Borrower shall occupy, eslablish, and use the Property as Botrower's principal residence �aifhin 60 days after the execution of this Security Insmunent and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender othercvise agees in wriling, which consent shall not be Lu�reasonably withheld, or unless extenuating circumstances exist�hich aze beyond Borrowei s conuol. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impaar the Pcpperty, allow the Property to deteriorate or commit waste on tha Properry. Whether or not Boxxower is residina ui the Yroperty; Borrower shal] maintain the Propecty in arder to prevent the Property from 3etetiorating ar decreasing in value due fo its condition. IInless it is detennined puesuant to Secrion 5 that repair or restoratioii is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If ins�ance or c;ondcinnatioi�proceeds aze paid in conneetion with damage to, or the takino of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. L,ender may disburse proceeds 24002]65 NFBRFSKASingleFamily-FannieMee�Fredtll=_PAac UNIFORM INSTRtIh1ENT Porm 3028 1/U1 VMPrg` VIvIP6(NE�(�1p5) W oliers Kluwe;Financisl Services , Page]pf 11