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2� 15�8775 Borrower)under all insurance policies ca�eririg the Prop�rty, �nsofar as such rights are applicable to the co�erage of the Property. Lender may use the insurance proceeds either to repair ar r�s�ore the Property or to p�y amaunts un�aid un�er the Note or this Security Instrument,�v�ether or not then due. fi. ��cupancy.Barrower shall occupy, establish, and use th�property as Borro�ver's principal residence �rithin G�days after the execut�on of this Security Instrument and shall continue t�occupy the Prapertiy as Borrotiver'�principal residenc;e for at least one year after the dat�of occupancy,un�ess Lender determines that this requireme�.t shall cause undue hardship for the BorrQwer or unless ext�nuating circumstances exist�vhich are bey�nd Borrow�r's control. 7. Pre�ervation,Maint+enanceand Pratectionof th� Property;fnspections.Borrawer shall not destray,damage ar impair the T�roperty, allow the Property to de�eriorate or commit was�e on the Property. �orrowe�shail maintain the Property in order t�prevent the�roperty from d�teriora.ting or decreasing in va�ue due to its candition.Unless it is deterrnined pursuant ta Section 5 that repair or restoration is r�ot econamically feasible, Borrat�ver shall promptly repair the Property if damaged to avoid.further deterioration or da.mage.If insuran�e or�ondemnatian procee�s are paid in cor�nection with damage to the Pr�perty, Borro�ver shall be responsible for repairing or restoring the Proper�y only if Lender has released proceeds for such purpose5. Lender may disburse praceeds for the repairs and restoration�n a single payment or in a series of pragress payments as the tivorl�is comp�e�ed. �f the insurance or condemnatian proceeds are not suf#icient to repair ar restore the Property,B�rrawer is not re�ie�ed of Bc�rrower's ob�igatron for the compl�tion of such repair or restoration. If condemnatian praceeds are paid in connection with the taking of the proper�y,Lender shall app�y such proceeds to the reduction of the�ndebtedne�s under the Nate and this Security Instrument, first to any delinquent am.aunts,and then to payment of prin�ipal. Any application of the proceeds to the princ�pal �hali not extend or postpone the due da�e of the month�y payments or ehange the amount of such payments. Lender or its agent may ma�e reasonabl�entries upon and inspeGtions�f the Properry. If it has rea��nable eause, Lender may i�spect the interior of the impra�ements an the Property. L�nder sha�1 give Barrower notice at the time of or prior to such an interior inspection specifying�uch reasonable cause. 8. Bvrrvwer's Lvan Application.Borrower shall be in default if, during the Loan application process, Borro��er or any persans or entities actin�at the direc�ion of Borro�er or�vith Borrower's know�edge or �or�s�nt�a�e materiall�f�.ls�,mis��adin�,flr ina�cu�a�te inforr�at�an�r staterr�ents ta L�nd�r�or failed to provide Lender with material infarmatior�}in connection with the Loan. Ma�erial repr�sentations include, bu�are not limited ta,regresentatians co�ncernin�Borrawer`s accupancy of the Property as Borrotver's pri�ncipal residence. 9. Protection of Lender's Interest in�he Proper�yand Rights Under this Security instrument,If (a}Borrflwer fails to perform the covena�nts and agreements contarned in�his Security Instrument,(b� there is a legal proceeding�hat might significantl�affect Lend�r's interest�n the Property andfor rights under this Security Instrument�sueh as a pro�eed�ng in bankruptcy,probate, for condemnat�on or forfeiture, for enforcement of a lien tivhich may attain priority over this Security Instrument or to enforce laws or regulation�),or(c)Borrawer has abandoned the Fropert�,then Lender may do and pay f�r what�ver is reasonable or apprapriate to protect Lender's interest in the Property and rights under th�s SeCurity Instrument, in�luding prote�t�ng andlor assessing the vaiue of the Proper�y,and securing and�or repairing the Property. Lender's aGtions can include,but are not limit�d to: (a}paying an�r sums seeured FHA�eed of Trust With MERS-NE 9I34l2Q1� 8ankers SystemsTM VMP� VMR4N[NE]{1546}_Q4 Wo�ters Kluwer Finan�ial Services Page 8 of 17 q�3348�4�57� ��33 759 0�17