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200303085 work has been completed to Lender's satisfaction, provided that such Inspection shall be undertaken promptly. Lender may disburse pree tats for the repairs and testo a or In a single payment or in a series of progress payments as the work w completed. Unless an agreement Is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third ponies, retained by Borrower shall not be paid out of the mrsurance proceeds and shall be the sale obligation of Bormwer If the restoration or repair Is not economically feasible or Leaders security would be lessened, the insurance proceeds shall be applied to the scuts secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied m the order previded for in Section 2. If Borrower abandons the Property , Lender may file, negotiate and snple any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Wender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30 day period will begin when the notice is given In either event, or if Lender acquires the Property order Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any Insurance proceeds in an amount not in exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Bmnmeme) under an insurance policies covering the Pmperty, Imofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Imtamonl whether or rot then due. b. Occupancy_ Borrower shall occupy, esmblisb, and use the Property as Borrower 'a principal residence within 60 days after the restoration of this Security Scanning and shall continue to occupy the Properly as Borrower's principal residence for at least one year alter the data of rewpan,, unless Lender otherwise agrees ht sound, which consent shall not be unreasonably withheld, or unless extenuating m msmnees exist which are beyond Borrowers control re ]. Preservation, Maintenance and Protection of the Property, Inspections. Borrower shall not destroy, damage or impair the Property, glow We Property to deteriorate or commit waste on the Property. Whether or not Borrower Is residing in the Property, Borrower shall maintain the Property in order to proceed tom Property from deteriorating or decreasing in value due to its condition Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible. Borrower shall promptly repair the Property If damaged to avoid further deterioration or damage. If insurance or condemnation preceeds are paid in correction with damage to, or the taking of the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender cony disburse proceeds for the repairs and restoration in a single payment or in a series of progress p rprouts as the work is completed. If the Insurance or condemnation proceeds are not sufficient to repair or restore the property, Borrower Is not relieved of Borrowers obligation for the completion of such repah restoration. Lender or its agent may make reasonable entries upon and inspections of the Property . If it has reasonable came, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior n such an Interior inspection e i specifying such dr, reasonable apple. 8. Borrower's Loan Application. Borrower shall be in direction fF, Borrower the with Borrower', knowledge Burrower or any persons or false, mi acting at the direction Borrower nr with Borrower's (or failed rr consent gave nder with false, misleading, or inaccurate information connection with or he Loan. m Lender (or failed to include but a. with material inlrrmation) In omeng B wfth the Loan. Material Property as Bo Borrower's bill em rot limited m, representations concerning Borrower's occupancy of the Property m Borrower's principal residence. bg,1 R 000236146 1000236146 \ yyy 1 \ \ ®ZNNEI(0005) raw runs ��sr "" F-3028 1/01