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200302633
<br />work has hoar completed to Lender's saliskciion, provided that such inspection shall be undertaken
<br />prompt),. Linder may disbmsc proceeds for the repairs and restoration in a single payment or in a series
<br />of progrci s payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any
<br />interest or vunrings on such proceeds. Fees for public adjusters, or other third parties, retained by
<br />Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If
<br />the restoration or repair is not monomically terrible or Lender's security would be lessened, the insurance
<br />proceeds shall he applied to rhC sums secured by this Security Instrument, whether or not then due, with
<br />the cxoc.s. it any_ paid to Borrower. Such insurance proceeds shall be applied in the order provided for in
<br />Section ,
<br />L form,,, clendons dre Poopcim, Lender may file, negotiate and settle any available insurance
<br />claim :rod aimed roan,,. If &grower does not respond within 30 days to a notice from Lender that the
<br />insurance cru icr has offered to setle it claim, then Lender may negotiate and settle the claim. The 30-day
<br />period gill ircein when the notice is gircn. In either event, or if Lender acquires the Property under
<br />Section " ur othemisc, Borrower hereby z,ruriu, to Lender (a) Borrower's rights to any insurance
<br />proceeds in uo amount not m earced the :unounu unpaid under the Note or this Security Instrument, and
<br />(n) any mho, of Bolio,er s nJus todtcr dwu the right to any refund of uneamed premiums paid by
<br />B( .rrow,,) u;tdcr up insuranro policies rmenn= the Property, insofar as such rights are applicable to the
<br />coverage of the Property. Leona nary use [Le iusunwcc proceeds either to repair or restore the Property or
<br />to pay amouras unpaid under the Nos or this S,auritp Iustmment, whether or not then due.
<br />6. Occupancy. Borrower shall o,,upy, uetahlish, and use the Property as Borrower's principal
<br />raidrucc t, [ihin 60 d:rvs alter the execution of this Security Instrument and shall continue to occupy the
<br />Propene as Isorrowcr r prinripal residence for i kart one year after the date of occupancy, unless Lender
<br />otherwise aemcs in wriun;. which consent shall not be unreasonably withheld, or unless extenuating
<br />circumstance, exist which are baeoud Borrower's control.
<br />7. I'rescrration, Maiutcuauce and Protection of the Property; Inspections. Borrower shall not
<br />destroy, duuracc or impair the Property, allow the Property to deteriorate or commit waste on the
<br />Property_ Whether or not Borrower is rredi2 In the Property, Borrower shall maintain the Property in
<br />order to prevent the Propcnv Iron demriorating or decreasing in value due to its condition, Unless it is
<br />determined pu5uaut to Section 5 that repair nr restoration is not economically feasible, Borrower shall
<br />promptly repair the Propcnv it damaged to avoid further deterioration or damage. If insurance or
<br />condemtwfiou proceeds are paid in correction with damage to, or the taking of, the Property, Borrower
<br />shall he respousible Ibr repuninu or reno,iig the Property only if Lender has released proceeds for such
<br />purposes_ Lai..der ruup disburse y,orccik for thr repairs and restoration in a single paymentor in a series of
<br />progress p :n :cents us um tinrla is completed. I, the insurance or condemnation proceeds are not sufficient
<br />to repair or resiorc the Propcnv, Borrower is :tor relieved of Borrower's obligation for the completion of
<br />w,1, rcpui, n. rvsto,ilhon.
<br />Lcndcr o, its' agent I,a nta tae rcasonablr untrics upon and inspections of the Property. If it has
<br />u
<br />reasonable c..rua, ).under m::r ierprct the imerior of the improvements on the Property. Lender shall give
<br />Borrower w ;it c at the tines of of prior to such an iuericr inspection specifying such reasonable cause.
<br />8. 6nrrnwer's Loan tpplicatiou. Boro,cer dull be in default if, during the Loan application
<br />process- Borrower ar any persons or entities uclinc at the direction of Borrower or with Borrower's
<br />knuwlalgc o, ronsem eavc matcnalh tails,_ mislcadine, or inaccurate information or statements to Lender
<br />(or lulled provide Lcndcr with material information) in connection with the Loan. Material
<br />relocscwatiuna Include nnil arc not limited to representations concerning Borrower's occupancy of the
<br />Nopern as Ira i7c,,,'s prinun.i: «,iJ,r,,
<br />eau
<br />IQ© 6(NE) f ,a =7 if is Form 3028 1101
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