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2� 1 ��7�25 writing, any insurance proceeds,wheth�r�r not the underlying�nsurance was required by Lender, shal� be applied t�restoratian or repair of the Proper�y,if the restoration or repair is economically feasible and Lender's security is not lessened.During such repair and restarati�n per�ad,Lender shall ha�e the right to ho�d�uch insurance proceeds until Lender has had an opportunity to insp�ct such Pr�perty ta ensure the work has been camp�eted t�Lender's satisfaction,pro�ided that such inspection shall be undertaken promptly.Lender may disburse praceeds for the repairs and rest�rati�n in a single payment or in a series of progress payments as the work is completed.Unless an agreement is made in writing or Applicable Law requires interest ta be paid on such insuranc�proceeds,Lender shall nat b�required to pay Borrawer any interest or earnings on such proceeds.Fees f�r publ�c adjusters,or other th�rd pa.rties,retained by Borrower shal�not be paid�ut of the �nsurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair�s not economically feasib�e�r Lender's security wou�d be lessened,the insura.nce proceeds sha�l be applied t�the sums��cured by this Securifiy Instrument,whether or not then due,vvith the excess, if any,paid to Borrovver. Such insurance proceeds shall be applied in the order pro�ided for in Section Z. If B�rrawer abandons the Proper�y,Lender may file,negotiate and settle ar�y a�ailable insurance claim and r�lat�d matters.If Borrower does not respond within 3�days ta a nati�e from Lender that the�nsurance carrier has offered to settle a c�aim,then Lender may negotiate and settle the c�aim. The 3�-day period will begin when the notice is gi��n.In either event, or if Lend�r acquires the Pr�perty under Sectinn�� or�therwise,Borrower hereby assigns to Lender(a}Borrower's rights to any insurance praceeds in an amount n�t to exceed the amounts unpaid under the Note or th�s Security Instrument,and�b}any other �f Borrower's rights(other than the righ�to any refund of unearned premiums paid by B�rrower}under all insurance policies co�ering the Property, insofar as such rights are applicable to the co�erage of the Praperty.Lender may use the insurance pro�eeds either to repair�r r�stare the Praperty nr to pay amaunts unpaid under the Note or this Security Instrum�nt,whether or not then due. 6.��upan�y. Borro�ver shall occupy,esta.blish,and use the Property as Borrower's princ}pal residence within�U days after the execution of this Security Instrument and sha11 cantinue to occupy the Property as Borrawer's principal residence for at least one year after the date af occupancy,unless Lender otherwise agrees in writin�,which�onsent shail not be unreasonably withheld,or un�ess extenuating�ircumstances exist which are beyond Borr�wer's control. 7. Pr�ser►►ation, Maintenanc� and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property,a�low the Pr�perty to deteriorate or commit waste�n the Praperty. Whether�r nat Borrower is resid�ng in the Prapertyy Borrower shall maintain the Property in order to pr��ent the Property from deter�orating or decreasing in�a�ue due to its condition.Un�ess it is determined pursuant to Section 5 that repair or restoration is not ecanomically feasible,Barrower shall promptly repair the Property if damaged to a�oid further deterioration or damage. If insurance ar candemnation proceeds are paid in conne�tion v�ith damage to,or the taking of,the Property, Borrower shall be responsible for repa�ring or restoring the Property only if Lender has released praceeds for such purposes.Lender may dis�urse proceeds for the repairs and restoration in a single payment�r in a series of progress payments as the w�rk is campleted.If the insura.nce ar condemnation proceeds are not suf�'icient to repair ar restore the Praperty,Borrower is not relie�ed of Barrower's abl�gatian for the completion�f such repair�r restoration. 113882?543 11115 VMP� Wviters Kluwer Financial Services 2a1 fi1�311 fi.1.0.3537-J241 fiD219Y Initials: Page 7 vf 17 *M *