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200200975 coverage, not otherwise requ'ued by Louden, for damage to, or desu'uctiou of, the Progeny, such policy Shull include u standard mortgage clause and shall name Lender as mortgagee an a an additional loss payee. In the event ofloss, Borrower shall give prompt notice to the insumnee can'no and Lender Lender may make proof cross ifnulnhade promptlyby Bonower. Unlessicnder and Borrower otherwise agree in writing, any insolence proceeds, whether or not the underlying insurance was required by Lender, shall be applied to I esunistiun or repair ofthe Property, it the restomtion or rep fir is economically feaible and Lender's security is not lessened. During such tepair and restoration period, Lender shall have the right to hold such insumnee proceeds until Lender has had an opportunity to inspect such Property,, ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly, lender may disburse proceeds for the repairs and restoration in It single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable law requires interest to be paid on such insurance proceeds, Lender shall not be regwrcd to pay Borrower any interest or earnings on such proceeds Fees for public adjusters, or other third parties, retained by Borrower shall not Ia paidout ofthe insurance proceeds and shall be the sole obligation of Borrower, It the reswration Or repao 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 In Shutt be applied in the or provided for in Section 2. It I ewer abandons the Property, Lender may fi le, negotiate and settle any available ins UI LTICe cinim turd related 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 Leader 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 othcrwse, Borrower hereby assigns to Lender (a) Butrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Seem icy Instrument. and (h) any other of Borrower's rights (Other than the right to any retand of unezu tied premiums paid by Burrower) under all insurance policies covering the Property, insofar as such rights are applicable m 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 ur this Security Instrument, whether or not then due 6. Occupancy. Borrower shall occupy, establish, and use the l'mouty as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property its Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be umeasonahly 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 it, the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreeing 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 proceeds are paid in connection with damage to, or the inking of, the Property. Borrower shall be responsible ftn'repairing or rester g the Propeny onlyy if lend., has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration inasmgle payment or in u set ees o"00 'ss payments as the work is completed- IC the insurance or condemnation proceeds are rat sufficient to repair or restore the Property. Borrower is not relieved ofBorl'ower's oblignuon for the completion of such repair or restomtion. Lender or its agent may make rcasonnble envies upon and inspections oftheProperty. It it has reasonable cause, Lander may inspect the interior of the improvements on the Property. Lender shall give Horrower notice at the time of or p,I I m such an interior inspectiol' specifying such reusonnble cause. 8. Borrower's Loan ppI In_n. Borrower' shall be in default it, during the Loan application process, Bon'ow s or any persons er entities acting at the direction of Borrower nt with Borrower's knowledge or consent gave materially false, misleading, or Re"intreu: infonnanon or statements to Lender (or failed to provide Lander with material i ntormation) in connection with the Loan. Material representations'mcludc, but are net limited to, t I)resenmtiom eonce'nmg Borrower's occupancy of the Property as Bonnwer's pprincipal residence. 9. Protection or Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform ot the ...i ms and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property, and/or rights under this Security Imwment (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, nor enfercement of her which may attain In amity over this Security Instrument or to ent'orce laws or regulations), ore) Bunower has abandoned [lie Property, then Lender may do and pay for whatever is reasonable or appropriate to pretest Lender's interest in the Property and I ghU under this Security Insimeacm, Including protecting and/or assessing the value of the Propmry, and securing and/or repairing the Property. Lender's actions can include, but at not limited to (a) payiag at sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reaonable atlnnteys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy Proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board LIP doors and windows, dram waterfrom pipe', eliminate building or uthercode violations or dangerous conditions, and haveutilities turned on on Although Lender may take action under this Section 9, Leader does not have to do so and is not under any duty or Obligation to do so- It is agreed that Lender incur' no liability ton not taking any of all actions authorized under this Section 9. Any amounts disbursed amo amounts Lender under this Section 9 shall becomeedate additional Borrower secured y this Security lnsn'ument. These amounts shall beta interest at Note rate H'om the date of disbursement and shall be payable, with such interest, upon nonce from Lender to Borrower requesting payment. If this Security Instrument is on a lemehold, Borrower shall comply with all the provisions or [he lease. IfBorrower acquires fee tide to the Property, the leaehold and lire fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage insurance a 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 V'om the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments [award the premiums for Mortgage Insurance, Bmmwer shall pay the in canards required to obtain coverage substantially equivalent to the Mortgage Insurance in in effect, at u cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by lender. If substantially equivalent Mortgage Insunmce coverage is not available, Borrower shalf continue to pay to Lender the amount of the separately designated payments that were doewhen the insurance coves ceased to be in effect. Lender will accept, use and retain these payments as a non - refundable loss reservein lieu of Mortgage Insurance. Such loss reserve shall be notrretindable, notwithstanding the fact that the Loan is ultimately Puid in fill, and Lender shall not be required to pay Borrower any interest or turnings on such loss rraerve. Lender can no longer require loss reserve payments if Shia large Insurance coverage (in the amount and for the period that Lender requires) III by an insure,' selected by lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Ins it do e. If Lender required Mortgage laurancea a condmon Gfmaking the Loan and Borrower wa required m make separately designated payments toward the Premiums for Mottgaoe Insurance. Borrower shall pay the piemhrm' required in maintain Mortgage Insurance in effect, or to provide a non - refundable loos reserve, until Under's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrowcr and Lender providing rot such termination or until termination Is required by Applicable Law. Nothing in this Section 10 affect, Borrower's obligation to pay interest at the rate provided in the Note. Mortgage lnsurance reimburses Lender (or any enllty that purchases the Note) lbr certain losses it may Incur it Borrower does not repay the Lan its agreed- Borrowcr is not a party ro tho Mortgage Insurance. sUBHONSKnSIngle Family— F.uu,rvuXreddn Mac UNIFORM INSTRU EN'C ebnn,1028 1101 (Vgde41118plei 9751 CV(101) GIIA3 GGTGf000haaYa)