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0042603332 <br />200305705 <br />work has beencompletedo Lender 'ssatisfactiorprovidedthat such inspectiorshall be undertaken Y <br />promptly Lendemaydisbursproceedh) r therepairsandrestoratioin a singlepaymenbr in a seriesDf <br />progrespaymentasthe work is completecUnlessan agreemeft madein writingor Applicabld -aw <br />require$nteresto bepaidon suchinsurancproceedd endeishallnotberequiredo payBorrowerany <br />interesbr earningen suchproceedsFeedor publicadjusters�r otherthirdpartiesretainedby Borrower <br />shalhotbepaidoutof theinsurancproceedsndshalbethesoleobligatiormf Borrowerlf therestoration <br />or repaids not economica ftasibler Lender' securityrvouldbelessenedll aeinsurancproceedshalbe <br />appliedothesumssecuretiythisSecurittnstrumentiyhetheornotthendue ,withtheexcess# any,paid <br />to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. <br />If BorroweiabandonffhePropertyl endemayfile, negotiatendsettleanyavailableisurancelaim <br />andrelatednatterdf Borroweidoesnotrespondvithin30daystoanoticefromLendethattheinsurance <br />carrieihasofferedo settlEn claim, thenLendernaynegotiatendsettletheclaim .The30- dayperiodNilI <br />beginwhenthe noticeis given.ln eithereventpr if Lenderacquire$he PropertyunderSectior22 or <br />otherwisEQorroweherebpssigntD Lender(a)Borrower'sightsto anyinsurancproceedisi anamount <br />notto exceetheamountanpaidindetheNoteorthisSecurit jnstrumenAnd(b) anyotherof Borrower's <br />rights (othe rthanthe right to anyrefundof unearne¢remiumpaidby Borrower )underall insurance <br />policies;overinghe Properto,nsofarassuchrightsareapplicabltD thecoveragef the PropertyLender <br />mayusetheinsurancproceedeithedo repairor restordhePropertprto payamountarnpaidinderthe <br />Note or this Security Instrument, whether or not then due. <br />6. Occupancy. Borrower, halbccupyestablis[ AndusethePropertpsBorrower 'principatesidence <br />within60daysaftertheexecutioAf this Securitjnstrumenandshallcontinudo occupythePropertyas <br />Borrower'EprinciparesidenctDr at leasioneyearafterthedateof occupancyynlesd- enderotherwise <br />agreesn writing,whichconsenthallnot be unreasonabtyithheldpr unlesmxtenuatingircumstances <br />exist which are beyond Borrower's control. <br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrowershallnot <br />destroydamager impairthe Propertyallowthe Propertyto deteriorater commitwast6Dn the Property. <br />WhetheornotBorrowets residinM theP rope rty$ orroweshallmaintairtihePropertyn orderto prevent <br />thePropertiromdeterioratirtydecreasidg valuedueto itsconditionUnlesst is determineplursuartb <br />Section thatrepairor restoratiois not economicalfpasibld$ orrowe6halOromptlyrepaithePropertyf <br />damagedo avoid furtherdeterioratioor damagelf insurancer condemnatioproceedsare paid in <br />connectiowith damagdo, or thetakingof, the Property¢orrowershallbe responsiblfror repairing)r <br />restorinoePropertpnlyif Lendeihasreleaseplroceeftrsuchpurposed .endemaydisbursproceeds <br />for the repairsand restoratioin a singlepaymenbr in a seriemf progrespaymentsas the work is <br />completedf the insurancer condemnaticproceedare not sufficiento repairor restordhe Property, <br />Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. <br />Lenderor its agentmay makereasonablentriesupon and inspectionef the Propertylf it has <br />reasonabteause�endermayinspectheinteriorof the improvementsn the PropertyLendershallgive <br />Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. <br />8. Borrower's Loan Application. Borroweshalbein defaulif, duringtheLoanapplicatioprocess, <br />Borrower or any personsor entities acting at the direction of Borrower or with Borrower's <br />knowledge rconsergavemateriallyalsemis lead incg ;r inaccuratierformationr statemente Lenderor <br />failedto provideLenderwith mate riainformation)n connectiowith the Loan. Mate riarepresentations <br />include,but are not limited to, representatioaancerninj3orrower 'soccupancpf the Propertyas <br />Borrower's principal residence. <br />Initials: <br />-6(NE) (0005) Page 7 of 15 Form 3028 1/01 <br />