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2� 17� 1479
<br /> migh�no�pro��ct Borrower, Borrower's equity in the Proper�y, or�he conten�s of the Property,against
<br /> any risk,hazard ar liab��i�y and might pi•a�ide grca�er or lesser covera�e than�vas pre�viausly in effect.
<br /> Borrower acknow�ed�es �ha��he cos�of�he insuranc�caWerage so obtained might sxgnificant�y exc�ed
<br /> tihc cas�of znsurance that Borrower could haUe ob�ained. Any amounts disbursed by Lender under�his
<br /> Sec��an 5 shall bec�me addxtianal debt of Borrower se�ured by �his Securxty �ns�ruYncn�. These
<br /> amountis sha�1 bear int�rest at the Note ra�e fr�m the date of disbursemen� and shall be payab�e, wi�h
<br /> su�h in��rest,upon notice fr�m Lender to Barro�er reques�ing payment.
<br /> Al1 �nsurance palicies requ�red by Lender and ren�wa�s of such po�icies sha�l be sub�ect �o Lender's
<br /> right tio disapprove such palicies, shall include a standard mor�gage clause, and sha�� nam� Lend�r as
<br /> martgag�e andlor as an add��ional loss payee. Lender sha1� ha�e the r�ght tio hold the p�licies and
<br /> rene�val cer�if�cates. �f L�nder requires, Borrow�r shall promp��y gz�e to Lender a11 receipts of pa�d
<br /> premiurns and r�newa� na��ces. �f Barrawer ab�ains any form of insuranc� coverage, noti �tih�rwise
<br /> required b�Lender, fnr damage to,or des�ruction of,�he Property,such p�licy sha�1 include a standard
<br /> mortgage clause and shal�name Lender as mor�gagee andlor as an additional loss paye�.
<br /> �n the e�ent of 1oss, Borrower shall gi�e prompt notice tio th� insurance carrier and Lender. Lender
<br /> may mak� praof af�oss if n�t rnade prompt�y by Borrower. Unless Lender and Bnrrower othervvise
<br /> agre� in wri��ng, any insurance proceeds, whether or not the und�rlying �nsurance was requ�red by
<br /> Lender, shall be applied to res�ora�ion or repair of th� Frop�r�y, if �he restoration or repair �s
<br /> econom�cally feasible and Lend�r's secur�ty is no�1ess�ned. Durin�such r�pair and res�aration p�riod,
<br /> Lender sha�� hav�� �he r�ght �o ho�d such �nsurane� proc��ds un�i1 Lender has had an oppor�unity �a
<br /> inspect such Property �o ensure the Work has been completed �o Lender's satisfact�on, pr��ided �ha�
<br /> such �nspection shall be ur�der�aken pr�mp�ly. L�nder may disburse proceeds for �he r�parrs and
<br /> res�orat�on�n a s�ngl�pay�ncnt or in a series of progr�ss payments as tih�vvork is comp�e�ed. Unless an
<br /> agr��ment zs �nadc in v�vriting �r Applicab�e Law re�u�res interest to be pa�d on such insurance
<br /> proceeds, Lender shall n��b�r�quired ta pay Borro�ver any in�eres�or earnings an such proceeds. Fees
<br /> for public adjus�e�•s, ar a�her third par�i�s, retained by Borrower sha11 not be paid out of tihe insurance
<br /> proceeds and sha1� be the so�e ab�igation of Borro��r. If the restora��on or r�pair is not economically
<br /> f�asible or Lender's secur��y would be lessened, �he insurance proce�ds shall be applied to �he sums
<br /> securcd by�h�s Securi�y�nstrument,wh�th�r ox•no��hen duc,with the excess, �f any,paid to Borrower.
<br /> Such insuran��proceeds sha�l be applied in�he order pro�ided for�n Sectiion 2.
<br /> �f Bnrr�wer abandons tihe Praperty,Lender may f�le,n�gotia�e and se�t�e any a�a�Xabl�insurance c�aim
<br /> and re�a�ed ma�ters. If Sorrow�r does no� respond within 3� days �� a notice from Lender �hat the
<br /> insurance carrier has off�red ta se���e a c1a�m, �hen Lender may negotiat� and set�le �h� claim. The
<br /> 3�-day per�od wi11 be��n �rhen �h� notice is gz�ven. In e�ther ��ent, or �f Lender acquires �he Proper�y
<br /> und�r Sec�ion ZZ �r atherw�se, Borro�ver hereby ass�gns ta Lender �a� Barrower's righ�s �o any
<br /> insurance prflc�eds in an amoun� na� �o exceed the amoun�s unpaid under the No�e or this Secur�ty
<br /> Instrum�n�, and �b� any other of Borrowcr's righ�s �other than the r�ght �o any r�fund of unearned
<br /> premium.s paid hy Bnrro�rer} und�r a1� insuran�e po�i�ies cov�r�ng the Property, insofar as such r�ghts
<br /> are applicable to the co�era�e of�he Praperty. Lender may use the insurance procceds either�o repa�r
<br /> or restore �he Prop�rty or to pay amounts unpaid und�r the Note or�his Secur�tiy �nstrumen�, �vhe�her
<br /> or not�hen du�.
<br /> 5. C]�cupancy. Barrov�cr shall accupy, estab�ish, and use the Praper�y as B�rrower's princ��a1 residence
<br /> within �fl days af��r �he execution of �his Security �nstrument and shall coritinue t� accupy thc
<br /> Pr�per�y as B�rra�er's principal r�s�dence for a� �east on� year after �he date of ac�upancy, unless
<br /> L�nder atheY-wise agrees in wr���ng, which consent sha�1 not �e unreasanab�y withheld, or un�ess
<br /> extenuating circumstances exis�wh�ch are beyond Borrov�er's con�ral.
<br /> 7. Preservation, Ma�ntenanc� and Pro�ection of �he Property; Ynspe�tions. Borrower sha�1 not
<br /> dcs�roy, damage or im.pazr tihc Proper�y, allow the Prflper�y �o detcriorate or commzt was�e on �he
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