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200305727 work has been completed rn Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lander may disburse proceeds for the repairs and restoration in a single payment or in a series of progress paym,nts as the work is completed_ unless an agreennent is made in writing or Applicable Law requires interest to be paid ou such insurance proceeds, Lcnder shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. if the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property. Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance canter has oticrcd to settle a claim, then Lendcr may negotiate and settle the claim. The 30-day period will bcein when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise. Borrower hetchy assigns to Lender (a) Borrower's rights to any insurance proceeds in in amount not to 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 Borrower) under ill insurance poGdes covering the Property, insofar as such rights are applicable to the coverage of the Pnnperty_ Lender may use the insurance proceeds either to repair or restore the Property or to pay moo ants unpaid under the Not, or this Security Instrument, whether or not then due. 6. Occupancy. Burrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 dav5 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 Lender otherwise ugres in wriftng. which consent shall not be unreasonably withheld, or unless extenuating cimunsmccs exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Properly; 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 in order to prevent tine P,operty 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 deterimation or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repang or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is ennpleted. If the insurance or condemnation proceeds are not sufficient to repair nr mstor the Property. Borrower N not relieved of Borrower's obligation for the completion of such repair or reon0000n. Lender or it agent miry intake reasonable entries upon and inspections of the Property. If it has reasonahle uruse. Lender may Inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of of prior to such an interior inspection specifying such reasonable cause. S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent eivc orr erially false, nnisleading, or inaccurate information or statements to Lender (or failed to provide I ,dcr wish material information) in connection with the Loan. Material representations include. but arc not limited to, representations concerning Borrowers occupancy of the Property as Rorrooer's prncipal residence_ mn�ssg / �/I'?b�l( 03 -02- 000094 �6AINEl ,owstoi 1z1e7oras Form 3028 1101 at