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200205897 work has been completed to "Ludes s sr,,raction, provided that such inspection shall be undertaken promptly. Lender inay disburse proceeds for the repairs and restoration ur a single payment or in a series of progress payments as the work is completed. Unless an ag¢oment is made in waiting or Applicable Law requires interest to be paid on loch insurance proceeds, Lender sball not be niquind to pay borrower any interest ar earnings an such procecds. Fees for public adusters, or other Third parties, retained by Borrower shall not be paid out of the insurance procecds and shall be dawn ild betlessond` thef insurmse the restoration or repair is not economically feasible or Lenders security proceeds shall be applied m the sums secured by Otis Security Instrument, wltcthcr or not dean due. with the excess, if any, paid to Borrower. Such insurauec proceeds shall be applied in the older Provided for in S6CG0112- ailable insurance Ir Borrower abandons the Property, Leade tiny r ny File, negotiate and ctde any ;ry claim and related maufns. If Borrower does not respond within 30 days to a notice from Lender that the insurance cairier hots oltcred to settle a claim. then Lender m:ry negotiate and scale the claim. 'the 30 day period will begin when the notice is given. In either event- or if Lender acquires the I'roperty under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to anv Insurtnoce proceeds in an amount not to exceed the smourus unpaid under the Note or this Security Instrn... ell and (b) any other of Borrower s rights (enter than the right to any refund of unearned premiums paid by Borrower) under all insurance Policies eovcring the Preperty, unsofir as such rights arc applicable to dm covangC of the Property. I- nder may use the insurlree Proceeds either to repair or rest ore the Property or to pay amounts unpaid under the Note or finis Security InatIli llt- whether or not then due. 6. occupancy. Borrower shall occupy, establish, raid use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall coulinue w occupy the Property a Borrower's principal residence for at least one year after the date of occup;nmy, unless Lender otherwise agrees in wrhing, which consent shall not be unreasonably wiltliclel. of unless cntenlvilog circumvall"s exist which are beyond Borrower's control_ 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower -1holl not destroy, damage or impair the Property, allow the Property to deteriorate or contour waste on the Property. Whether or not Borrower is residing in the Property, Borrower e1na11 maintain the Property in order to prevent the Property from deteriorating or decrcnsing in value due to its condivnn. Unless it is determined pursualn to Section 5 that repair or restoration is not econanically feasible, Borrower shall Promptly repair the Property If dmnagcd m avoid further deterioration or Bran oc. If insurance or condemnation Proceeds are paid in connection with damage 10, or the taking of, the Property, Borrower sllall be re =ponsrble for repairing or restoring the Property only if lender his released proceeds tier such purposes Lender mny disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. It the inseeincc or condemnation proceeds are not sufficient w repair or restore the P[oPCRy, Borrower is not rellevetl of Bonrowa's obligation for the completion of such repair or restoration. Lander or its alert may make reasonable conies upon and impecbons of the property. If it has reasonable cause. Lender may Inspect the interior of the impro,crvents on rho Property. Lender shalt give Borrower notice at the time of or prior to such on interior inspection specifying each masonnblc cause. B. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or colities acting at the direction of Borrower or with Borrower's knowledge tit consent gave materially false, misleading. or inaccurate information or statcmcnts to Lender (or failed 10 provide Lender with material information) in connection with the Loan. Material repres'cutntions include, but are not linked to, reptesentulinns concerning Borrower's occupancy of (lie Property as Borrower's principal resitloolic ,, "'m o Form 3028 1101 �.GG MEI re rngl r r � 5 cast %7 H111 'd £S£d0£9Z06 'ON Xd� 01W MH ME S-Mm ltd ££:II 18H d00d— I£ —AtlW