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201210884
<br /> A11 msvr�cz policies required 6y Lcndcr and renewais�f such policies shatl be subj eci to Lender's right to
<br /> d+sapprove sueh policizs, shall inclucfe a stancia,-d morigage clause, and shall name�r as rl.ortgagza
<br /> �.dlor as an ndditi.onal ioss payee. Lender shall have the rigirt to hold tfae policies znd renewal cerhi�ca#�a. If
<br /> Lender requues, Borrower sha11 promptl}�give�Lender all receipEs of paid przmiucna ana,rcnew�al nntices.
<br /> If Borrower obtai,-�s aay form of insurance co��e±�ge, not othernise rcguired hy I,znder, £or*1ama�e to, ar
<br /> de,�uctan of the Property; stzch�alicy shall include a standard mortgage clav�e aad sfiall name Lender as
<br /> mortgagee andlor as an additional loss payee.
<br /> In the event of loss, Bonowa shall�ce pxompt nofice to tAe insittauee c�izr and Lender. Lender may
<br /> make proof o£Ioss if nol madz promptly by Borrower. Unlecs Leader and$oaower otherwise agre�s
<br /> wriung, aay insva�auee procaeds; whether or not the�mderlying insurance was required by Lcadzr, shatl ba
<br /> applied Yo resEoration or repair of the Prop�-[y; if rIie resfora#�on or re�air iz ecouomically feasble and
<br /> Lander's securitv is noi less�,ned. Di*nns sacl�repair and resforation p�i.od, Lender shall have the ri�h.t to
<br /> hold such insnrance procccds unLil Iznder has had aa opporhmit}=to inspect Such Propezry to enSure thc
<br /> work has been completed to Lendea's satisfaction,prav3ded fhat such insp�tion shail be vnderEaken
<br /> prompfly. Lender may disbmsz proceeds far ihe repairs anC restoratiion in a sinale paymant or in a seric�of
<br /> p?'ogess payments ns the u•ork is compLetecl� �(Jnlcss an agre„-inent is azade in writinn or Applicable T,aw
<br /> reqvire.>urterest to-he paid on such insurance pzoceeds, Lender shafl noi be required ta pa}�•Sorrower any
<br /> i�teresf or eanungs on such procccds. Fees for public adjusters, or ochcr third parties,retained by$ort'ac�rer
<br /> � shall not be paid out of tb.e ivseuance groc�ds and shall be the sole oUlia��ation of BorroH�er. I£�e rzstoration
<br /> o:repair is not economicaIly feas�le or Lender's seeurity�>ould be lessened, the insurnn.ce proceeds shall be
<br /> appfied#o#he sznns seciFred�by this Scxiuity Iastr�unen�, �vhethes or not Hieu due, uith rize excess,if am,
<br /> paid to Borrower. Such insurance proceedg shail be applied in the order pro�Zded far ia Section 2.
<br /> ?f Borrower ahznd<m.s the Property, Lender ina,r file, negotiate and sett3.a any available insurance efaim and
<br /> relazed matters. If Boxrowe;doe,not re;poud aithia 30 davs to a notice frosn Lender thaf the insurance
<br /> carricr ha�o#t'ered to setile a clain�. thc�.Leadzr may negotiate and settla tlie clairn. The 30-day period ruill
<br /> begin.when fhe notice is giveu. In either evexst, or if Lender acqture,the Property under Sectioa 2Z or
<br /> oth�risz, $orrower hereby assigns io Lender(a} Borcower's rigllts to any;,,�„-�r,�z��,���nount -
<br /> not to exceed the amouats unpaid und.cr the�lote or this SeGurit}>Insinunent and(b}auy other of
<br /> Borrowzr's righrs{o�er tF�azt the righf in any refund of amearned premiwns gaid by Sorrower)und.eT all
<br /> insuraz�ce policies corering the Pro}�-ty, insofa:as such aghts are ap�licaUle to fhe coverage of the
<br /> -Propert;. Lender may use the msuxan.ce proceees eithzr;o r�air or resfore fhe Property or to yay amaunts
<br /> unpaid under the Note or flvs Securiiy 1nsEn.imc-�st, whetber ar nai thai due.
<br /> 8. Oecupancy. Borrower shali occupy, zstablisl�, aEdusc the Propertc-a;Borro��s principal residence
<br /> ti*nthin 6Q days after the eYecution o£this Sectaity Instniment and s�hall conurnie tc� c>ccupy the Propertv as
<br /> Sorrower's principal resid;,nce for at least one yea-after the date of o:cupancy, unless Lender otherwise
<br /> agees in writing, w3�ick consent;hall aot be unn�zsonabt�v,�itbheld, or imFess�tenuating circumstanr.�
<br /> E.41Cf wlrich are heyond Bosawzr's conttoL
<br /> 7. preservation, M aintenance and Protectian of the Property; Inspectior�s.Brnrower sl�all not darsoy,
<br /> d.awage or imgais the Property, allotir the Prope3y to det�orate or commit waste on the Property. Whefher
<br /> or not Boaower is residing in tL�e Praperfy, Bozxo�t�er shall*n���++a.,,�ye Pzoperty in order to j�n�eve�t the
<br /> Propert}�from deteriorating or decreasing in valce due io its condition_ Unless ii is 3etc��ined pursvanZ to
<br /> Sectiaa 5 that repair or restoraEion is not economically feasble,Borrowrs shall prosuptly repair tiie Praperly
<br /> if damaaed to avoid further deteriorafion or cl�age. If insurance or c�demna8an proczeds are pziid in
<br /> conne�,,tian with dam.age fo, or The taki.ng o� tfie Propeaty> Sarrower shall be respousible fur zepairing or
<br /> rzsEom'tg the Praperty�only if Lender has released�roceeds fcr such purposzs. Lendc�may disburse proceed�
<br /> saooaias
<br /> N�RItSHptitng'.e FamJy-Fannie Mael.--re��ix M�c I;NIYJR3A IM1ISTpUP+1 AT F_rm_3C28 1/0�
<br /> Vhi P� 8P1 PfiME)(t 105}
<br /> �Ne',:as Kluwer:�irunciel Serrices pa9e 7,��i
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