��14�5�51
<br /> All insurance pol�cies required by Lender and r�newa�s af suGh pol�cies shall�e subject�o Lender's r�ght to
<br /> d�sappro�e su�h po�icies, sha�l inc�ude a s�andard rn�r�gage�Iause, and shail name Lender as mor�gagee
<br /> andlor as an add�tional lnss payee. Lender sha��have the r�gh�to hald the pol�cies and renewai cer�ificates. If
<br /> Lender requ�res, B�rrower shall promp��y g���to L.ender aI� reCeipts of paid prem�ums and renewa� not�ces.
<br /> �f Borr�wer ob�a�ns any f�rm�f�nsurance G��erage, na�o�herw�se requ�red by Lender, for damage to, or
<br /> destruc�ian of, �he Praper�y, such poi�c� shali inclu�.�a s�andard mor�gage clause and sha�� naame Lender as
<br /> mortgagee andlor as an addit�ona� �os�payee.
<br /> In th���rent of��ss, Borrawer sha��g��e prompt not�ce�o �he insurance carr�er and L.�nder. L,ender may
<br /> make pro�f af�flss if nat made promptly by Borraw�r. Un�ess Lender and Barr�wer otherw�se agre�xn
<br /> wr�ting, any insurance proceed�, whe�her ar na��h�underlying insuran�e was requ�red by Lend�r, sha�.l be
<br /> applied to res�ora�ion or repair of th�Proper��, �f the rest�ra�ian or repair is e��nami�a��y feasibit and
<br /> Lender's s�curi�y is no��essened. During suc�repair and restoration period, Lender sha�.l have the r��h�to
<br /> hoXd such �nsurance proceeds unt�l Lender has had an opp�r�un��y ta �nspect such Proper�y ta ensure�he
<br /> work has�een canzpl��ed to Lend�r's satisfaction, pravided that such inspecti�n shall be undertaken
<br /> prompt�y, Lender may disburse proceeds for�he repairs and restoration in a sing�e pa�ment or in a series of
<br /> pragr�ss paymen�s as the wark is coxnp�eted. Un�ess an agreemen� is made in vwri�ing or Appl�cable La�v
<br /> re�uires �n�erest�o be pa�d on su�h insuran�e proc�eds, Lend�r sha�� n�t be requxr�d to pay Borrower an�r
<br /> �nterest or earnings on such praceeds. F�es f�r publ�c adjus�ers, or other third par�i�s, re�a�ned by Borr�wer
<br /> sha11 na�be paid out of�he insurance proceeds and sha��be�he�o�e obligation of Barrow�r, If the restaration
<br /> or repair�s not economically feasib�e or Lender's securi�y wou�d b��essened, the insurance praceeds sha��b�
<br /> app��ed to the sums se�ured by�his Secur�ty �n�trum�nt, w�e�her�r nat��en due, 'VL�1��1��.��X.��55, �f any,
<br /> paid��Borr�wer. Such �nsurance pro�eeds sha��be applied in�he�rder prav�ded far in Section�.
<br /> If Borrovwer abandons th�Praper�y, Lender may �i�e, nega�iat�and s�ttle any a�ai�able insurance claim ar�d
<br /> rela�ed mat�ers. If Borrawer does no�respond within 30 days to a not�c�fram Lender that the�nsurance
<br /> carr�er has offered to settle a claim, then Lender may neg�tia�e and se�tle�he c�a�m. 'Th�3�-day peri�d wi��
<br /> begin wh�n�he no��c� �s given. In either ev�n�, or if Lender acquires the Proper��under Sec�ian��or
<br /> ather�vise, Borrow�r hereby ass�gns to Lender�a} B�rr�v�er's rights to any insurance proceeds in an amount
<br /> nat to ex�eed the amounts unpaid under the No�e or this Securi�y �nstrument, and �b}any o�her of
<br /> Barrowe�-'s righ�s �other than�he right to an�refund of unearned prem�ums paid by Borro�ver}under a.��
<br /> �nsuranee pal�eies eo�ering�he Pr�perty, insofar as suGh righ�s are app��cab�e to�he coverage of th�
<br /> Praperty. Lender may use�he�nsuranc�pr�ceed�e�ther��repair or re���re the Prop�r�y ar to pay am�un��
<br /> unpa�d under�he N�te or�hi� Security �ns�rument, w�.e�h�r or no�then due.
<br /> C. Dccupancy. Borrawer shal� �ccupy, establish, and use�he Propert�r as Borr�wer's princ�pal residence
<br /> vvithin 6�days af�er the exeCut��n of th�s S�cur�ty �ns�rumen�and sha1� cant�nue to accupy the Praper�y as
<br /> Borrower's principal residenc�for at�east one year after the date of occupancy, unless L.�nder oth�rwise
<br /> agrees in wr��ing, v�hich consent�hall nfl�b�unreasonab�y wi�hheld, �r unl�ss extenuating c�rcums�ances
<br /> exzst v�h�ch are bey�n�Borrawer's con�rol.
<br /> 7. Pres�r�atifln, �Vlaint�nance and Pratect�on t�f #he Pr�perty; �nspe�tions� Borrow�r sha�� no�destroy,
<br /> damage or irnpair th� Proper�y, al�ow the Proper�y to deter�orate or cammit waste on�he Property, VVhe�her
<br /> or not B�rrower is res�ding �n the Property, Borrow�r shall main�ain�he Praper�y in�rder�o pre�ent�he
<br /> Property fram deteriorating or d�creasing in va�ue due tQ its c�nd����n. Un�ess �t zs deterrn�ned pursuant to
<br /> Se���an 5 �hat repa�r or restaration is not�conamically feasible, Borrav�er s�.a�� pronipt�y repair�he Prflper�y
<br /> zf damaged�� avoid further deteriaration nr darnage. �f�nsurance or condem.nation praceeds are paid in
<br /> c�nnectifln�v�th damag�t�, or�h��akxng of, �he Proper�y, Borrower shall be responsible far repairing or
<br /> res�or�ng the Pr�perty nnly if L.�nder has re�eased pr�ce�ds for such purposes. Lender may disburse pro�eeds
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