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2� 1 ���38�
<br /> damag��o,o�•destruc��o�a of,�h�Pr��er�y,such p�l�cy s�a��in��ud�a standard mar�gage��ause and sha�l
<br /> r�ame Lender as n�or��age�andlot�as an add��xonalloss payee.
<br /> In�he even�of�oss,Boxrn�ver sha�1 g�ve�rom�t n�1:��e�o the��.surar�ce carr�er a�.d Len�.er, Lender may
<br /> nlake pranf of��ss if no�rrYac�e prom���y vy Borr�vver,Uz�less L�r�der and Borr�we�•o�her�ise agr�e�i�
<br /> wrz�zng,a�.y�nsL�rance pr��eeds,whether or n���he ti��.der�y�ng insurance was rec�t�ired by Lender, shaXl
<br /> be app�ied�o res�ora�ior�or repair of��a.e P�•nperty,xf the restoration or�epair is econarnically fe�.si��e and
<br /> Lend.er's s�curity 1s not�.�s��ned, D�.�r�ng such repa�r a�.d rest��•ati�r�perxad,Lender shaX�have th�r�gh�
<br /> �o hold st�ch insuran�e pra���c�s t�n��X Ler�der has hac�an ap�ort�xr�i�y�o inspect such Proper�y to eizsure
<br /> �he worlf has bee11 completecl to L�x1de��'s satisfa���o�,pra�vided tha�such inspect�on sha�l be t��zc��rta��e��.
<br /> promptly.Lender m.ay disburs�pro�e��s for the re��.�rs anc�.res�oratior���1 a sing��paymen�or�n a s�ries
<br /> of progress paymen�s as�1��w�rk is c�rriple�ed. Un�ess an agre��nen��s made ir�vvr��in�or AppXic�.ble
<br /> Law r�q�.��res in�eres��n b�paid oz�such��.st�rallce proc�eds,Iaen�.er sh�.il no�be rec�uzr�d�a pay Bo�ravver
<br /> ar�y��teres�or e�.z�zings on�u.ch procee�.s.Fees for public�.dat�sters, or o�her xhxrd p�.r�ies,re��.ined by
<br /> Borrawer shall no�be p�id ou�of�he insLirance proceeds a�d sh�.111ae�he sole oblig�.�xon of Bo�-�ower.
<br /> IF�he res�ara�ion or t epai�is no��co��mzcally feasible or Lende�`'s sec�.irity wnu�d�e lessened,�he
<br /> insurance proceeds sha��be applied�o the sums sect�red by�his Securz�y In��r�xmen�,�r�1�ther nr na��her�
<br /> due,wit�l the excess, if any;paid to Bo�•rovver. Such inst�ranc�p�oceeds sha��be app��ed in�he��de�•
<br /> p�'ovided.for ir�S ecti�r�.�e
<br /> If Barrower abanc�ons th�Prop�rty,Ler�der may fi1e,negotia�e a�d settle�.ny avai�ab�e insurance�lazm
<br /> anc�rela�ed rna�ters.If Borrovver does na�respo��.�vi�hin 3 D�.ays�o a no�ice from Le�,d�r�hat t�.e�r�sura�ce
<br /> carrxer l�as of:ferec��o set�le a c�ai�-n,th��L�nder�nay nega�iate and settle��le c1a�m, T�Ze 3�-day periad
<br /> �rill heg�n tivhen�h��.a��ce zs given. In ei�11e�even�,o�.•�f Lendez+�.cqu�res t�ie Prop�rty under Se��i�n�2
<br /> �r o�h�rvvise, Barrower h�reb�ass�gns�o L�nc�er��}Borr��ve�'s r�gh�s to any insuranc�proce�ds i�a.as1
<br /> am�un�not�o exce�c�th�amou.nts u�paid un�.er th��To�e or�h�s �ec��ri�y Ins�r�.��n�nt�at�.d�b� any flther -
<br /> af�arrow�r's rig��� �o�h�r�ha��:h�ri�ht��any refund of L���earn�d prem�.ums p�.id by Borro�er�under
<br /> aI1�x�s��ranc�po�icxes�nver�ng��1�Proper�y, �ns�far as such rxgh���.re�pp�ic�.bl�����i�c�verage of�he
<br /> Prop�rty,Lexzder m�.y t�se�h���.sura�lce proceec�s���h�r�o�ep�.�r��res��re the Proper�y or�o pay amot�nts
<br /> unpaid under the Na�e or�his S e��.�rity I�.sttti�me�.�,�rhe�;her or n�t�her�due.
<br /> �.���u����y.Borrnvv��sha��occL�py,es�ablish,axzd t�se��e Praper�y as Bo���wer's principal r�s�dence
<br /> with�n 6� days aF�e�-�he execu�ion of�his Security I�.s�rument and s�a��can�ir�u��o oc�L�py the Property
<br /> as Borrower's�rinc�pal�es�de�.ce fax�.�Ieas�one year af�er�he�.��e of occup�.x�cy,unless Le�.der��h�rvvise
<br /> agrees i�:v�ri�i�g,which con��n��ha�l n�t be t�nr�asonably w��hhe�d,ar ur�less ex�e�t�a�:ing circL�rr�s�a�c�s
<br /> exis�v�rhich are�ey�nd B�rrow�r's con�ro�,
<br /> 7. Preser�a���n, Ma�nt��nance and Prate�ti�� of�he Proper�y; Inspe��ior��.Ba�row�r sha1�
<br /> �1��c�es�r�y, c�amage or i�.��.�r���Property, a1Zaw�he Praperty to de�eriorate o�c��mm�t vvaste on the
<br /> Proper�y. Whe���r or r�a�B or�o�r�r xs res�d.i�zg in�he l�rape�ty, Bar�ov�er shall mi.aint�.xn�h�Proper�y�n
<br /> �rder ta prever�t th.e Prop�rty froin d��eriora�ing�z•decr�asing��:valt��due to i�s c�r�d��ion.Un�ess it is
<br /> d.e���mir�e�.purst��.n�to �ec�xon S �ha�repazr�r res�or��io�.is�.o�econ�mx�ally feas�b�e,�orrotiver sha1� -
<br /> promp�ly repair�he Prop�rty xf d��naged�o �.v�id f�xz-�h�r de�erxor��io�a or d�.magee If i��su��nce�r
<br /> c�nde�nnatian pr�ceec��ar�pa�d i�a connec�i�n wi�h dam�,ge to,or�he ta�{xng af,l;he P�:aperty,Bo��rawer
<br /> sha�1 be�•�spansib�e fo�repa�ring��r�sto�•��g the Property only if Ler�c�e��as re�eased proceed.s for su�h
<br /> HCFG-4�359
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