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��14��7 �n the ev�nt�f loss,Borrower shal�g��e Lender immed�a�e no�ice by m.a��. Lender may make proaf af loss if nflt made promptly by Borr�wer. Each�nsurance compan�concerned is hereby au�horized and directed ta make paymen�for such�oss to Lend�r�nstead of to Borrower and Lender jointly. Xnsuran�e proceeds shal��applied to restoration or repa�r of th� damaged Proper�y, if the restorat�on or repair is econam�ca��y feasible and L�nder's securit�is not less�ned. Zf�he res�oration ar repair is�.ot ecanomicaliy feasible or Lender's secur�ty wou�d be lessened,the�nsurance proceeds shall be app�ied f rst�a the reduct�on�f any indeb�edness under a Second Note and S�cond�e�urity Instrumen�held by th� Se�re�ary or��he Proper�y and then�o the reduct�on�f the ind�btedness under the Note and th�s Security �nstrument. Any excess insuranc�pr�ce�ds aver an amount required�o pay all outs�anding indeb�edness under�he Note and this Securi�y Instrumen�sha�l�e paid��he en�it��ega��y ent�tled thereta. �n the even�of foreclosure of�his Security�ns�rument ar�ther transfer of tit�e to�he Property�hat extingu�shes the�ndeb�edness, all right,ti��e and in�erest of B�rrower in and�o �nsurance pal�cies in for�e sha��pass�o the purchaser. 4. �c�upancy,Preservat�on,Maintenan�e and Protect�on�f the Property; Borrowerfs Loan Application; Leaseho�ds.Borro�ver sha�I occupy, es�ablish,and use the Property as Borra�er's pr�ncipa�residence after the exe�ution of�h�s Security Ins�rumen�and BorroWer��r at�east one Borrawer, if initially more�han ane person are Borrowers�sha1l cont�nue to �ccup�the ProperCy as Borrower's principal res�dence for the�erm of the Security �nstrument. "Principal residence" shai�have the same xneaning as in the Loan Agreement. Barrovver sha11 na�cnmmit waste or des�roy,damage or substantially change the Property or a�low the Propert�ta deteriorate,reasonat�le wea.r and tear exce��ed. Barrawer shall also be in defaul�if Borrower,dur�ng the �aa�app�ication process,ga�e mater�al�y fa�se ar inaccurate �nforma�ion ar statements�o Lender(�r fai�ed to prov�de Lender��th any material information}�n Conne�tion with the �oan e�idenced by the N�te, includ�ng,bu�not lim�ted�o,representat�ons concerning Borrower's occupancy of�he Proper�y as a pr�ncipa�res�dence. �f�his Security �nstrumen�is on a�easeho�d, Sorrower shal�comp�y wi�h�he prflv�s�ons af the lease. If Borrovver acquires fee��tle ta�h�Property,the leaseho�d and fee t�t1e shall not be merged unless Lender agrees to the merger�n wr�t�ng. 5. �harges to Borrower and Pratection of Lender's R�ghts�n the Property.Borrower sha11 pa�a�� gov�rn�men�ta�or muni�ipa�charges,f nes and�mp�s��ons that are n��nc�uded in Paragra�h 2. Barrower sha�l pay these ab��ga�ions on time d�rect�y to�he entity which�s owed�he payment. �f fai�ure to pay vv�u�d adversely affect Lender's in�eres�in the Pr�perty,upon Lender's reques�Borrower shall promp�ly furnish to Lender receip�s e��dencing these payments. Borrower sha�l promptly discharge any �ien wh�ch has prior�t�over�his Secur��y Instrum�nt��.the mann�r provided�n Paragraph 12tc}. �f B�rrower fai�s to make these payments or the property charges requzred by Paragraph �y or fa��s�o perform any o�her co�enar��s and agreements conta�ned in th�s Security Ins�rumen�, or�her�is a legal proceeding�hat may signif cantly affec�Lender's rights in the Property�such as a praceed�ng in bankruptc�, for condemnat�on or ta�nforce 1av�s ar regulatians},�hen Lender may do and pa�whate�er �s necessary to pratec�the value of the Property and Lender's righ�s in�he PrQper�y, including paymen� of taxes,hazard insurance and ather i��ms mentioned in Paragraph 2. To protect Lender's secur�ty in the Property, Lender sha�l advance and charge�o Borrower al� amoun�s due to the Secre�ary for�he Mortgage�nsurance Premium as def ned�n the Loan Agr�ement as w��as all sums due t��he ioan ser�v�ic�r for servicin�act�v��es as defined in the Loan A�reemen�.An�amoun�s Page 3 af�2 HEGM First Deed��'Tnxst