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coverage, not otherwise required by Lender, for damage to, or deshuctior standard mortgage clause and shall name Lender as mortgagee and/or as an In the event ofloss, Borrower shall give prom t notice m ur the inse of loss if not made promptly by Borrower. Unless Lender and Borrower otla whether or not the underlying insurance was required by lender, shall be ap the restoration or repair is economically feasible and Lender's security is m period, Under shall have the right to hold such insurance proceeds until I P toper to ensure the work has been complemd m Lender's satisfaction, pre promptly. Under may disburse proceeds for the repairs and restoration i payments as the work is completed. Unless an agreement is made in writing on such inkurance nrncecds, Lender shall not be required to pay Borrower a for public adjusters, or other third the sole obligation of Borrower. lessened, the insurance proceeds with the excess, if any, paid to Bc 200303177 such policy shall include a wrier. and Lender. Lendermaymake proof agree in writing, any insurance proceeds, in restoration or repair of the Property, if hall not be paid out of the insurance proceeds and shall be not economically feasible or Lender's security would be mad by this Security Instrument, whether or not then due, As shall be applied in the order Provided for in Section 2. matters. If Borrower does not respond within 30 days to a notice from Lender 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 under Section 22 or otherwise, Borrower hereby assigns to Under (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Now or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar 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 Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residencewithin 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Under otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property m order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determin ed pursuant to Section 5 drat 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 proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible tin repairing or restoring the Properly only if Lender has released proceeds for such purposes. Lender may disburse proceeds 'or [he repairs and restoration masingle payment or inaseries of progress payments as the work is completed. If the insuranec or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved ofBorrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. Ifit has reasonable cause, Lender may inspect the interior of he improvements on the Property. Lender shall give Borrower notice at the time of or P to such an interior inspection specifying such reasonable cause. g. Borrower's Luan Application. Borrower shall be in default if, during the Loan application process, Borrower nr any persons m entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or a te, is to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limitedm, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that mi(,ht significantly affect Lender's interest in the Property and/or rights under this S_ecu_rity Instrument(mch as a proceeding in bankruptcy, probate, for condemnation or forfei over this Security Instrument or to enforce laws or regulations), or may do and pay for whatever is reasonable or appropriate to prole, Security Instrument, including protecting an d/or assessing the va the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (e) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in abankruptcy proceeding. Securing the Property includes, but is not limited lo, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note ram from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Icnder agrees to the merger inwriting. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mort6�age insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Burrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect lender will accept, use and retain theseppayments as a non - refundable loss reserve in lieu of Mangle Insurance. Such loss reserve shall be non- refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments of Mortgage Insurance coverage (in the amount and for the period that Under requires) provided by an insurer selected by Lander again becomes available, is obtained, and Under requires separately designated ppayments toward die premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required m make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non - refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable law. Nothing in this Section 10 affects Borrower's obligation m pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. NERRASRA- Single Yaauly- Fannie Mae/Freddie Mac UNIFORM INS IRUMENT Form3028 IM (page4 f8puges) 9954 Cv (vn2) 1665926 GO10(0004ii90a)