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2� 1 ��38��
<br /> of caverage. Therefare, such co�rerage shall cover Lender, but rn�ght ar might not pra�ect Borro�rer, Borra�rer's
<br /> equ�ty in�he Praperty, or the cvntents❑f the Prapert�r, agains�an�risk, hazard ar l�ab�lity and migh�pro��de greater
<br /> or lesser ca�erage �han�a� previnusl�r in effec�. Borro�rer ackno��edges that the cos�of�he insurance coverage s❑
<br /> vbtained m�ght sign�f�can�1�e�ceed the cost of insurance�hat B�rrov�rer could have ob�ained. An�amounts dis�ursed
<br /> by Lender under th�s Sectivn 5 sha�l became addi�iona�de�t of Borrower secured by this Secur���Ins�rument. These
<br /> amaun�s shall bear zn�erest at the No�e rate fram the date ❑f d�sbursement and shal� be payab�e, �vith such in�eres�,
<br /> upan no�ice frnm Lender�v Borrv�r�r requesting paymen�.
<br /> A�1 insurance p��ici�s r�quired by Lender and renev�rals of such policies sha�l be su�jec� ta Lender's r�ght to
<br /> . d�sappr�ve such poi�c�es, shail �nclude a standard mortgage c�ause, and shall nam� Lender as rnortgagee andlor a�
<br /> additiv�al lass payee. Lender shall ha�e �he righ� �a hold �he pal�cies and rene�al certi�i�ates. If Lender requ�res,
<br /> Borr��er sha�I prvmptly give�a Lender a��receipts af paid premiums and rene�val no�ices. �f Barrov�er obtains any
<br /> form vf insurance c�verage, na�other�rise requxred by Lender, for damage �o, or destruct�on of, fhe Praperty, such
<br /> polic� shall �nclude a standard mvrtgage c�ause and shal� name Lender as mortgagee andlar as an additivna� �oss
<br /> payee.
<br /> In the event of�as�, Borrv�ver shall g�ve prompt no�ice tv the insurance carrier and Lender. Len�er may make
<br /> provf of loss if not made promptl� b� Borr�v�er. Unless Lender and Bvrrovver otherv�ise agree �n �rr�ting, an�r
<br /> �nsuranc�proceeds,v�rhet�er or not the underlying�nsurance v�as requir�d b�Lender, shall�e app�ied tv restvration
<br /> vr repair of�he Proper�y, if the restora��an ar repa�r is ecvnomxcall�r feasi�le and Lender's securit�is no��essened.
<br /> During such repair and restara�ion per�od, L�nder sha�l ha�e th�right�a hvld such insurance proceeds until Lender
<br /> has had an oppvrtun�t�r to inspect such Property to ensure the v�rark has �een cvmplef�d ta Lender's satisfaction,
<br /> pro�ided tha� such xnspec�ian shali be un�ertaken promptl�. Lender ma�r disburse proceeds for fhe repairs and
<br /> restoration in a sin��e payrnent or�n a series of prvgress�ayments as th���rk is completed. ilnless an agreement is
<br /> made in �vrif�ng ar Appli�able La�r requires interest t❑ be paid ❑n such �nsurance proce�ds, Lender shaX� not be
<br /> required to pa�r Borrn�er any interest or earnings on such prviceeds. Fees fvr pub�ic adjusters, vr ather�hird par��es,
<br /> retained b�r Bvrro�er shal�nat�e paid vut of fhe�nsurance proc�eds and shal��e�he snle oh��gatian of Borrovver.�f
<br /> the restorafion vr repair�s not econvm�ca�l�feasib�e or Lender's securify vvou�d be�essened, t�e insurance prviceeds
<br /> sha11 be applied to the sums secured by this Security Instrument,v�rhether❑r no�then due,�srith the excess,�f an�r,paid
<br /> fa Borro�er. SuC�.insurance prviceeds shal�be appl�ed in the❑rder prv��ded fvr in Section�.
<br /> �f Borro�rer a�andons the Propert�, Lender ma�file, nega�iate and set�ie an� a�ailah�e insurarice claim and
<br /> related ma�ters. �f Bvrrnv�er does nvt respond�rifh�n 3� day� to a not�ce from Lender�hat the insurance carrier has
<br /> offered t�set�xe a claim, then Lender ma�r nego�ia�e and se�t�e the clairn.The 3�-day period��x��egin�vhen the notice
<br /> is��ven. �n either evenf, or if Lender acquires the Prvperty under Sec���n 22 or v�herwise, Bvrrvvver hereby assigns
<br /> to L�nder�a� Bvrrvwer's ri�h�s t❑any insurance proceed�in an amount not to exceed the amvunts unpaid under the
<br /> Note �r this S�curi#y Instrument, and �b} any other ❑f Barrov�er's rights �v#her �han the right �o any refund af
<br /> unearned premiums paid by Barro�nrer} under a11�nsurance policies covering the Prvper�y, �nsofar as such rights are
<br /> app��ca�le tv �he co�erage af the Propert�. Lender ma� use �he insurarice proceeds either to repair or re�tore the
<br /> Propert�vr fv pa�amaunts unpaid under the Note or this Securxt��nstrumen�, v�rhether ar nat�hen due.
<br /> 6. �ccupancy.�orro�ver sha�l oc�upy,esfa��ish,and use fhe Prvper�y as Bvrro�rer's principal res�den�e�ithxn
<br /> �q days af�er the execu��on of th�s Secur�� Instrument and sha�� continue #a occupy the Praper�y as Barro�rer's
<br /> pr�ncipal residence far a��east one�ear after the date of occupancy, un�ess Lender determir�es fha�this requirement
<br /> sha11 cause undue hardsh�p for the Barrvv�er or unless extenua�ing�ircumstances�x�st�h�ch are be�ond Bvrro�ver's
<br /> contro�.
<br /> 7. Preservat�an, Maintenanc�and Protection❑f the Praperty; Inspect�ons. Borrn�rer shall no� destroy,
<br /> damag� ar impair fhe Prvper�, a1la�the Property to deter�vrate or cvmm���r5raste on the Prvper�r. Barro�rer sha�l
<br /> maintain fhe Property in❑rder�a prevent the Proper�from deterinrat�ng or d�creasing�n value due ta�ts condit�vn.
<br /> Unless�t is de�ermined pursuant ta Sect�on 5 that repair ar re�tvrat�on is nvt ecanom�caX�y f�asih�e, Borr��er shall
<br /> pr�mp�ly repair the Property �f damaged �o a�a�d further de�eriorat�on or damage. zf insurance or condemna��v�
<br /> praceeds are paid in cflnnectian�v�th damage tv the Proper�y, B�rro�er�hall be respans�ble far repa�r�ng vr res�oring
<br /> the Propert�r vnly�f Lender has re�eased praceeds for such purpa�es. Lender may disburse prviceeds for the repairs
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