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MAY. 29. 2013 2:59PM WELLS FARGO HM MTG NO. 8159 P. 27 All insurance policies required by Lender and renewals of Ruch policies shall be subject to Lender's right to disapprove such politics, shall include a standard mortgage clause, and shall matte Lender AS mortgagee end/or as an additional loss payee.. Lender shall have the right to hold the echoic, and rtncwal certificates. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. if Borrower obtains any trill of insurance coverage, not Otherwise required by Lender. for damage to, or destruction of. the Property, such policy shall ioelude a standard mortgage clause and shall natter Lender as mortgagee and /or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make Proof dims if not rondo Promptly gp Borrower. Unless Lender and Borrower othenviee agree in writing, any Mamma proceeds, Whether or not the undoxlying insmranee was required by Lender, shall be applied to restoration or repair of the property. if the restoration or repair is eronotnlcaily feasible and Lender's security is not lessened. Durog such repair and restoration period, Lender shall have the right to hold such insurance proccctls until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender- sntisfaciioa,, provided that such inepeu Ilan Shall be undertake promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as thc work is completed. Unless so agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on ouch prorceda. Pees for public adjusters, or other third parti, . retained by Borrower eltall not be paid out of the insurance proceeds and shall be cite sole obligation of Borrower. If the reatorntion or repair it not economically feasible or Lender's .enmity would be lessened, the insurance proceeds obeli be applied to the sums secured by this Security Instrument, whether or not then due, with the crass, if arty, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2, If BozrOvier abandons the Property, Lender may file, negotiate and mole any available insurance claim and related matters. If Borrower doca not respond within SO days to a iaotiee from Lender that the Meurer= carrier has offered to settle a claim, then Lender may ncgoriate and settle the claim. The 30 period Will t'egin when the notice is given. In either evctre or if Lender acquires the Properly under Section n 2,2 or otherwise, Borrower hereby assigns to Leader (a) Borrower's rights to any insurance proceeds in an amount not to eXCCOd the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of wrcamed premiums paid by Borrower) under all insurance policies covering thc Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. d. Occupancy. Dormer shall occupy, establish, and use the Property as Borrower's principal residence within GO days after the execution of this Security instrument and shall continue to occupy the Property as Borrowers prinolpai residence for at leant one year sifter the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld. or unless extenuating chrvumstan es exist which are beyond Borrower's control. 7. Preservation, Maintesnaneg and Protection of the Property; Inspcetione. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or Ronnie waste on the Property Whether cr pot Borrower is residing in the Property, Borrower shall maintain die Property in order to prevent the Property from deteriorating or decreasing in value duc to its condition. Unless it is deiermieed pursuant to Section 5 that repair or restoration is not economically feasible. Borrower shalt promptly repair tlio Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, tba Proporty, Borrower shall be responsible for repairing or motoring the Property only If Lender her released proceeds for such purposes. Leader may disburse proceeds Nomara .ti, AsalitFadhk Moelrroddb Mao uNIrcAM INartesew eve e tucks Kluwer Mandel cervices 201304339 vu 1 e ios l. o rape 7 of 17 05/29/2013 4:01PM (GMT- 05:00) b L